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Entrepreneurship is Key to Empowering Women in Asia-Pacific

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photo: Financial Express

Despite the progress made over the last two decades in empowering women in Asia and the Pacific, there remain huge gender gaps, particularly in the economic and political spheres. The ADB-hosted seminar “Breaking Barriers: Women Entrepreneurship in Asia and the Pacific” was held at ADB’s 51st Annual Meeting, with the participation of policymakers, entrepreneurs, researchers, and development practitioners.

The message from the seminar is that supporting women’s entrepreneurship is key to their economic empowerment.

“Women’s entrepreneurship is important because it helps us move closer to the goal of achieving a more gender equal Asia and the Pacific,” said ADB President Mr. Takehiko Nakao at the seminar. “Under our new Strategy 2030, ADB will pay increased attention to generating employment and entrepreneurship opportunities for women.”

Panelists at the seminar included International Labour Organization Director Mr. Graeme Buckley; Chief Executive Officer of Prelo (an Indonesian enterprise offering a retail-sharing e-platform) Ms. Fransiska Hadiwidjana; Undersecretary of the Philippines’ Department of Trade and Industry Ms. Zenaida Maglaya; President and Representative Director of Veolia Japan K. K. Ms. Yumiko Noda; and President of the Bangladesh Federation of Women Entrepreneurs Ms. Rokia Afzal Rahman.

In the theme chapter of the Asian Development Outlook Update 2015, ADB estimated that closing the existing gender gaps could generate a 30% increase in the per capita income of an average Asian economy in one generation or 30 years, and 70% in two generations.

The panelists agreed that while there is a long road ahead to full gender equality, policies supporting women’s entrepreneurship can help ignite momentum for this effort, together with access to information, government services, and credit. The seminar discussed various ways in which women entrepreneurs can overcome the multiple barriers they face and how the public and private sectors can help accelerate support for women startups and entrepreneurs.

Nearly half of ADB lending already has strong gender design elements. ADB under  Strategy 2030 will place an even stronger emphasis on women’s economic empowerment. Infrastructure projects will maximize women’s access to markets and opportunities for skilled jobs. Through enhanced technical and vocational education and training programs, ADB will enable women’s access to quality jobs in nontraditional, higher-paying sectors. ADB will also expand integrated support for women entrepreneurs through better access to finance, the adoption of new technologies, and policy and institutional reforms.

ADB has been adopting innovative approaches involving other partners in promoting women’s entrepreneurship. In April 2018, ADB received a $12.6 million grant from the Women Entrepreneurs Finance Initiative (We-Fi) (a global fund hosted by the World Bank Group) to help Sri Lankan women-led businesses obtain bank loans and improve business skills. This new source of funding complements ADB’s own financing of $175 million, which was approved earlier to encourage local partner banks to grow their small and medium-sized enterprise portfolios—especially for businesses that are outside Colombo or are women-led.

Mr. Nakao also mentioned ADB’s ongoing efforts to improving gender balance within ADB, with representation of women among international staff increasing to a record high of 35% in 2017—a step closer to the bank’s target of 40% by the end of 2022.

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Environment

CEOs Urge World Leaders to ‘Do More Together’ in the race to Net Zero

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The Alliance of CEO Climate Leaders, hosted by the World Economic Forum, appealed to the governments and world leaders to leverage COP26 as their best chance to halve emissions by 2030 and reach net-zero by 2050.

Signatories propose concrete steps to world leaders that would help businesses accelerate their emission reductions, scale up innovations and achieve a net-zero and nature-positive world by 2050.

“This letter sends a clear signal days before world leaders meet in Glasgow to agree measures that can safeguard our climate,” said Antonia Gawel, Head of Climate Action, at the World Economic Forum. “Chief executives are committed to ambitious, and science aligned climate action, and welcome bold policies to accelerate decarbonization efforts around the world at the outset of this critical decade.”

“The World Economic Forum Alliance of CEO Climate Leaders has grown to over 100 members, said Christian Mumenthaler, Chief Executive Officer, Swiss Re. “The private sector is playing a huge role in climate leadership by pressing for action along its value chains. With more collaboration across industries, we can accelerate the green transition.”

“For me this is personal, I will double my efforts and expect businesses, government and society to do the same,” said Jesper Brodin, Chief Executive Officer, Ingka Group | IKEA. “We will achieve and transition to a net-zero future that is good for both people and the planet, by working together. That is why we encourage more CEO’s to join us at the World Economic Forum Alliance of CEO Climate Leaders in the progress towards a new economy where everyone can be a winner.”

Following the lockdown caused by the COVID19 pandemic, COP26 will provide a platform for members of the Alliance, world leaders, government officials and representatives of the NGO community, to tackle the climate crisis together.

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Africa Today

Climate Change Could Further Impact Africa’s Recovery

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The World Bank’s new Groundswell Africa reports, released today ahead of the 26th session of the Conference of the Parties (COP 26), find that the continent will be hit the hardest by climate change, with up to 86 million Africans migrating within their own countries by 2050.

The data on countries in West Africa and the Lake Victoria Basin show that climate migration hot spots could emerge as early as 2030, and highlight that without concrete climate and development action, West Africa could see as many as 32 million people forced to move within their own countries by 2050. In Lake Victoria Basin countries, the number could reach a high of 38.5 million.

From pastoralists travelling the Sahel to fishermen braving the seas, the story of West Africa is a story of climate migrants. As countries are experiencing rises in temperatures, erratic rainfall, flooding, and coastal erosion, Africans will face unprecedented challenges in the coming years,” says Ousmane Diagana, World Bank Vice President for Western and Central Africa. “This series of reports identifies priorities for climate action that can help countries move towards a green, resilient and inclusive development and generate opportunities for all African people.”

Slow-onset climate change impacts, like water scarcity, lower crop and ecosystem productivity, sea level rise, and storm surge will increasingly cause people to migrate. Some places will become less livable because of heat stress, extreme events, and land loss while other areas may become more attractive as consequence of climate-induced changes, like increased rainfall. Unattended, these shifts will not only lead to climate-induced migration, potentially deepening existing vulnerabilities and leading to increased poverty, fragility, conflict, and violence

The authors highlight that people’s mobility will be influenced by how slow onset of climate impacts will interact with population dynamics and the socio-economic contexts within countries. However, efforts to support green, inclusive, and resilient development, could reduce the scale of climate migration by 30% in the Lake Victoria region and as much as 60% in West Africa.

Investments in resilience and adaptation can promote green industries, and when paired with investments in health, education, the digital economy, innovation, and sustainable infrastructure, they also have tremendous potential to create climate-smart jobs and boost economic growth,” asserts Hafez Ghanem, World Bank Vice President for Eastern and Southern Africa. As part of this, a focus on women’s empowerment is critical to improve human capital and to reap the demographic dividend—significant aspects of building climate resilience in the years to come.”

The scale and trajectory of climate-induced migration across Africa will require countries to take bold, transformative actions:

Net-zero targets: the global community has the responsibility to cut greenhouse gas emissions to reduce the scale and reach of climate impacts.

Locality and context matter: countries will need to embed internal climate migration in far-sighted green, resilient, and inclusive development planning across Africa.

Data: investing in research and diagnostic tools is key to better understand the drivers of internal climate migration for well-targeted policies.

Focus on people: invest in human capital to engage people in productive and sustainable climate smart jobs.

The Groundswell Africa series is a sequel to the 2018 Groundswell report and complements the recently released Groundswell II report, providing in-depth analysis on potential scale and spread of internal climate migration in West African and the Lake Victoria Basin, with country level analysis from Nigeria, Senegal, Tanzania, and Uganda to better inform policy dialogue and action.

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Africa Today

World Bank to support reconstruction plan for Cabo Delgado in Mozambique

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Image source: Wikipedia

The World Bank will provide US$100 million (€86 million) to support the Mozambican government in the reconstruction plan for Cabo Delgado, a province affected by incursions by armed groups since 2017, an official source announced Monday.

“With the recently reconquered areas, we have realised that there are many people who want to return to their areas of origin. But they cannot return without the basic conditions being in place. As a result, we have an additional 100 million dollars for support,” said Idah Pswarayi-Riddihough, World Bank Country Director for Mozambique.

She was speaking to the media, moments after a meeting between the Mozambican prime minister, Carlos Agostinho do Rosário, and heads of diplomatic missions to discuss the Cabo Delgado Reconstruction Plan.

According to her, the new World Bank support comes on top of a first donation (also totalling US$100 million), announced in April and which was earmarked for the Northern Integrated Development Agency (ADIN), which is promoting social and economic projects for youth inclusion across northern Mozambique.

In the new donation, which is expected to be disbursed in January, the World Bank wants the money to be invested in the reconquered areas in the north of the province, and psychosocial support, reconstruction of public buildings and restoration of basic services are among the priorities.

“The idea is to give the affected people a decent place to live after the traumas they have suffered,” she said.

The Reconstruction Plan for Cabo Delgado, approved in September by the Mozambican government, is budgeted at US$300 million (258 million euros), of which almost US$200 million (172 million euros) is earmarked for the implementation of short-term actions, which include restoring public administration, health units, schools, energy, water supply, amongst other aspects.

According to the deputy minister of Industry and Trade, Ludovina Bernardo, the priority of the executive is to ensure a gradual and safe return of the inhabitants to the reconquered areas, at the same time as basic conditions are created.

“We want to make interventions on the ground, but safeguarding security. Our forces are on the ground and as soon as they ensure that the return of families to their areas of origin is possible, the process will begin”, he said, pointing, as an example, to the return of families from Palma, which has already begun.

The United Nations resident representative in Mozambique, Myrta Kaulard, also gave assurances that the organisation would continue to support the Mozambican government in the process, highlighting the importance of the “classic interventions” of the entity in cases of humanitarian crises.

“I would like to remind you that on the humanitarian side, international partners have contributed, in the year 2021 alone, a total of 160 million dollars (137 million euros). It is important to continue with this humanitarian support, while promoting reconstruction,” she stressed and highlighted the importance of creating a working group among international partners to combine actions and broaden appeals in the face of the humanitarian crisis in Northern Mozambique.

Cabo Delgado province is rich in natural gas but has been terrorised since 2017 by armed rebels, with some attacks claimed by the extremist group Islamic State.

The conflict has led to more than 3,100 deaths, according to the ACLED conflict registration project, and more than 824,000 displaced people, according to updates from Mozambican authorities.

Since July, an offensive by government troops with support from Rwanda, later joined by the Southern African Development Community (SADC), allowed for an increase in security, recovering several areas where there was rebel presence, including the town of Mocímboa da Praia, which had been occupied since August 2020.

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