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With proposed reforms, UN closer than ever to a development system that is ‘fit for purpose’

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There are serious threats to the 2030 Agenda for Sustainable Development and the United Nations, especially its development system, must be effectively reformed in order to be able to limit the impact of those threats Secretary-General António Guterres said on Tuesday.

In his address to the opening of the annual operational segment of the Economic and Social Council (ECOSOC), Mr. Guterres warned that the world is facing a crisis of legitimacy, confidence and trust, rooted in legitimate fears

And while the benefits of globalization should be clear to all, “too many are being left behind.”

“Women are still far less likely to participate in the labour market – and gender pay gaps remain a global concern. Youth unemployment is at alarming levels. And inequalities are rampant – stretching the fabric of societies to the breaking point and undermining the social compact,” he stated, pointing out that “a handful of men hold the same wealth as half of humanity.”

Mr. Guterres underscored that exclusion resulted in frustration, alienation and instability.
“All of this compels us to do all we can to achieve inclusive and sustainable development – a goal in its own right, but also our best form of prevention against all kind of risks,” Mr. Guterres stressed.

An economic and social model that drives exclusion and environmental destruction cause deaths, missed opportunities, division and future conflicts.

“We need a global economy that works for all and creates opportunities for all,” he asserted.

According to the UN chief, the 2030 Agenda is crucial to rebuild the trust needed for fair globalization.

The Secretary-General flagged poverty eradication as the UN’s top priority, with the 2030 Agenda acting as its roadmap and the goals and targets its tools to get there.

He saw the Sustainable Development Goals (SDGs) as outlining the Organization’s commitment to expand dignity and opportunity for all on a healthy planet by empowering women, meaningfully including young people, reducing climate risk, creating decent jobs and mobilizing clean investments for inclusive growth.

“Finance is pivotal,” espoused Mr. Guterres, pointing to the Addis Ababa Action Agenda as stressing the importance of upholding Official Development Assistance commitments.

He underscored the need to support countries’ efforts to mobilize domestic resources, which must be accompanied by the international community’s commitment to fight tax evasion, money laundering and illicit financial flows, which threaten development.

“We are focused on building a system that is demand-driven, oriented around achieving results at scale, and accountable in providing support to achieve the 2030 Agenda,” Mr. Guterres said, mentioning a proposed a set of global adjustments to make operations on the ground “more cohesive, effective and efficient.”

He encouraged all present to take inspiration from the 2030 Agenda to forge the future we want.

“We are now closer than ever to repositioning sustainable development at the heart of the organization and to having a development system that is an even stronger partner as we seek to deliver for people,” said the UN chief.

“Together, let us make good on our shared promise to humanity – a future of prosperity, peace and dignity for all,” he concluded.

Development system ‘fit for purpose’

Opening the meeting, Marc Pecsteen de Buytswerve, Permanent Representative of Belgium to the United Nations and Vice-President of ECOSOSC said that repositioning the UN’s development system would be a unique opportunity to create a more integrated, effective, efficient and accountable system that matches the world’s commitments.

In short, he said, a development system that is “fit for purpose.”

He referred to the 2030 Agenda as demonstrating the commitment of Member States to promote peaceful, just and inclusive societies based on human rights, gender equality, empowerment of all women and girls, and free from poverty and fear and violence.

Mr. Pecsteen recalled the Secretary-General’s vision and concrete proposals to realign and reinvigorate the UN development system, which is necessary for the adequate and timely response Member States expect from the UN in the 21st century to help deliver on the 2030 Agenda promises.

He thanked Mr. Guterres for his leadership, vision and determination “to take on a challenge that is not easy,” adding that it was now up to the Member States to be “as bold in their desire to transform the system.”

He detailed that the ECOSOC Segment for Development will lay the groundwork for the consensus that will be forged in the coming weeks.

Panelists include senior government representatives from capitals, board chairs, UN leaders and key partners in the system.

Also addressing the meeting, Amina Mohammed, the UN Deputy Secretary-General, reiterated the importance of utilizing the opportunities offered by the  2030 Agenda to address the myriad challenges facing the world as well as to seize the momentum offered by it to ensure that the Organization is “fit to support” national efforts to realize the global goals.

In that context, she highlighted the important role that UN Resident Coordinators have to play.

“We know that if we want to strengthen our ability to support the 2030 Agenda in a cohesive, effective, accountable and efficient manner – then we must strengthen the Resident Coordinator system,” underscored the deputy UN chief, noting that a “reinvigorated” Resident Coordinator system is at the core of the proposals to reposition the UN development system.

“And it is at the centre of the mandate of the quadrennial comprehensive policy review,” she added.

The Policy Review is the mechanism through which UN Member States assess the effectiveness, efficiency, coherence and impact of UN development work. It also provides policy orientations for development cooperation at country level.

In her remarks, Ms. Mohammed also stated that strengthened Resident Coordinator system would ensuring a more accountable UN development system on the ground, one that is more responsive to national needs and more capable to deliver meaningful results.

“A system that can draw on the expertise across all entities – including non-resident entities, DESA [the Department of Economic and Social Affairs] and the regional economic commissions – to respond to country priorities,” she added.

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U.S. Now Past 3,000,000 Covid-19 Cases- World Nears 12,000,000 Cases

Eric Zuesse

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The most-authoritative site presenting, in real time, the number of coronavirus-19 (Covid-19) cases and data, country-by-country, throughout the world, and they now show America having soared past three million cases, and the entire world likely, by July 8th, to cross the threshold past twelve million cases.

They show the daily number of new cases as having steadily ascended ever since May 15th (100,393). The only lull (less-sharp rise) had been the moderate ascent which extended during the period of April 3rd (84,056) to May 15th (100,393). The first soaring period had extended during the period of March 17th (15,763) to April 3rd (84,056). 

On July 4th, the number of daily new cases reached 190,662. On July 3rd, it had been 210,467. (The daily figures vacillate considerably.) So, it has approximately doubled between May 15 and now. That’s just 50 days. Overall, it seems that we’re still sharply ascending.

Many people continue to doubt the usefulness of these data, because the understanding of the virus continues rapidly to develop, and almost nothing was scientifically established about it prior to January 22 of this year. Because so much about the virus continues to be not scientifically well-established, many people who distrust science and have higher trust in the beneficence or other rightness of the ‘natural order’ or of ‘God’, continue to believe that the globally reported figures should be ignored, and “nature should just be allowed to take its course” in order that a ‘herd immunity’ will develop and no Man-made vaccine will be needed in order to overcome whatever problem might possibly exist regarding this virus.

Also, many people believe that scientists are more corrupt than whatever authority the individual person happens to trust is. A great many individuals distrust the opinions of a majority of scientific experts on a given matter, regardless of how large that majority of expert opinions may happen to be. For example, there exists widespread disbelief in the peril that over 90% of climatologists assert to exist that unless humans cut way back fast on our burning of fossil fuels, this planet’s biosphere will soon become doomed to end within perhaps even less than a thousand years — producing a dead planet.

Consequently, many individuals reject these data, and trust instead that ‘herd immunity’ will develop after all of the non-immune people will have died-off — and that those believers will themselves turn out to be among the immune ones, instead of among the ones who will die off from this disease (if the disease is real, at all, which some contest).

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World Bank- India $750M Agreement for Emergency Response Program for MSMEs

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The World Bank and the Government of India today signed the $750 million agreement for the MSME Emergency Response Program to support increased flow of finance into the hands of micro, small, and medium enterprises (MSMEs), severely impacted by the COVID-19 crisis.

The World Bank’s MSME Emergency Response program will address the immediate liquidity and credit needs of some 1.5 million viable MSMEs to help them withstand the impact of the current shock and protect millions of jobs. This is the first step among a broader set of reforms that are needed to propel the MSME sector over time.

The agreement was signed by Sameer Kumar Khare, Additional Secretary, Department of Economic Affairs, Ministry of Finance on behalf of the Government of India and Junaid Ahmad, Country Director, India on behalf of the World Bank.

“The COVID-19 pandemic has severely impacted the MSME sector leading to loss of livelihoods and jobs.  The Government of India is  focused on ensuring that the abundant financial sector liquidity available flow to NBFCs, and that banks which have turned extremely risk averse, continue taking exposures in the economy by lending to NBFCs,” said Sameer Kumar Khare, Additional Secretary, Department of Economic Affairs, Ministry of Finance. “This project will support the Government in providing targeted guarantees to incentivize NBFCs and banks to continue lending to viable MSMEs to help sustain them through the crisis,” he added.

The World Bank Group, including its private sector arm – the International Finance Corporation (IFC), will support the government’s initiatives to protect the MSME sector by:

Unlocking liquidity

India’s financial system benefited from early and decisive measures taken by the RBI and the Government of India (GOI) to infuse liquidity into the market. Give current uncertainties, lenders remain concerned about borrowers’ ability to repay – resulting in limited flow of credit even to the viable enterprises in the sector. This program will support government’s efforts to channel that liquidity to the MSME sector by de-risking lending from banks and Non-Banking Financial Companies (NBFCs) to MSMEs through a range of instruments, including credit guarantees.

Strengthening NBFCs and SFBs

Improving the funding capacity of key market-oriented channels of credit, such as the NBFCs and Small Finance Bank (SFBs), will help them respond to the urgent and varied needs of the MSMEs. This will include supporting government’s refinance facility for NBFCs. In parallel, the IFC is also providing direct support to SFBs through loans and equity.

Enabling financial innovations

Today, only about 8 percent of MSMEs are served by formal credit channels. The program will incentivize and mainstream the use of fintech and digital financial services in MSME lending and payments. Digital platforms will play an important role by enabling lenders, suppliers, and buyers to reach firms faster and at a lower cost, especially small enterprises who currently may not have access to the formal channels.

“The MSME sector is central to India’s growth and job creation and will be key to the pace of India’s economic recovery, post COVID-19. The immediate need is to ensure that the liquidity infused into the system by the government is accessed by MSMEs. Equally important is to strengthen the overall financing ecosystem for MSMEs,” said Junaid Ahmad, World Bank Country Director in India. “This operation seeks to achieve both these objectives by furthering the role of NBFCs and SCBs as effective financial intermediaries and leveraging fintech to broaden the reach of finance into the MSME sector.” 

The World Bank has to date committed $2.75 billion to support India’s emergency COVID-19 response, including the new MSME project. The first $1 billion emergency support was announced in April this year for immediate support to India’s health sector. Another $1 billion project was approved in May to increase cash transfers and food benefits to the poor and vulnerable, including a more consolidated delivery platform – accessible to both rural and urban populations across state boundaries.

The $750 million loan from the International Bank for Reconstruction and Development (IBRD), has a maturity of 19 years including a 5-year grace period. 

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Environment

Norilsk Nickel has a permafrost monitoring plan

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Russian nickel and palladium producer will monitor the state of permafrost

Russia’s Norilsk Nickel, a major global nickel and palladium producer, has created an environmental task team, independent of the board of directors, to monitor progress in the Russian major’s environmental programmes, the company said.

A state of emergency was declared in Norilsk as a result of permafrost thawing. Several tons of diesel fuel leaked from the fuel tank at the TPP of Norilsk Energy Company No. 3 and leaked into the neighboring river on May 29.

Nornickel said it had appointed Andrey Bougrov, who has worked at the company since 2013, as its senior vice president for environmental protection.

The company plans to boost its cooperation with Russian and foreign researchers focused on Arctic ecology and permafrost zones to find solutions and improve industrial safety in the region, Bougrov said in the statement.

In addition, the post of deputy director for ecology will be introduced in the Polar division of Nornickel.

Commenting on his appointment, Bougrov said that Nornickel plans to step up its cooperation with Russian and foreign researchers, and specialist organisations focused on Arctic ecology and permafrost zones, to jointly study permafrost environments and find solutions to improve industrial safety in the Arctic region.

“Our joint efforts based on transparency will provide us with the most advanced solutions, while also contributing to the protection of the Arctic nature,” said Bougrov.

The company and emergency specialists are collecting contaminated soil and fuel from local rivers, and President Vladimir Putin has said the scale of the clear-up operation is unprecedented for Russia.

According to Nornickel’s estimate, over 90% of spilt fuel has been collected and removed so far. It said previously the accident was caused by thawing in the permafrost weakening the foundations of a storage tank.

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