McDonald’s Corporation, the world’s leading food service retailer, is the latest company to make a commitment to address the youth employment challenge within the framework of the Global Initiative on Decent Jobs for Youth .
Launched in 2016 by the executive heads of the UN, Decent Jobs for Youth is the global initiative to promote youth employment and ensure that young people have access to decent work in line with the UN’s 2030 Agenda for Sustainable Development .
McDonald’s move to join the Global Initiative comes together with the launch of its new initiative called Youth Opportunity to reduce barriers to decent employment for two-million young people around the globe by 2025. Youth Opportunity will focus on pre-employment job readiness training, employment opportunities and workplace development programmes.
“Around the world, too many young people are finding that, through no fault of their own, there are barriers to entry into the workplace. We believe this needs to change,” said David Fairhurst, McDonald’s Executive Vice President and Chief People Officer. “That is why McDonald’s and participating Franchisees are expanding our existing world-class workplace training and education programmes to go beyond those that we hire. Together, we will leverage our scale for good and help these young people to develop the core workplace skills they need to get a job and the opportunities they need to kick-start their career and achieve their true potential – whether at McDonald’s or elsewhere.”
Through the Youth Opportunity initiative, the company is piloting a pre-employment job readiness training programme in Chicago, with the goal of reducing barriers to employment for 4,000 young people in the city, before rolling it out to select cities in the U.S. starting next year. This initiative will also be rolled out from 2019 to participating global markets through locally-relevant training programmes and partners.
“With 64 million young people unemployed worldwide, the youth employment challenge is vast and affects all countries. The ILO is fully engaged in equipping young people with relevant skills for the labour market. It works with governments and social partners in implementing targeted solutions to boost youth’s transition into quality jobs – jobs that protect their rights, afford them social protection and allows them a voice. We welcome McDonald’s decision to pledge a commitment towards Decent Jobs for Youth. which aims at positive change in young people’s lives through positive action,” said Deborah Greenfield, ILO Deputy Director-General for Policy.
By positioning its new initiative in the platform of Decent Jobs for Youth, McDonald’s joins a diverse group of strategic partners committed to scaling up action and impact on youth employment. Commitments from the private sector include Nestlé’s Global Youth Initiative, which seeks to facilitate access to economic opportunities for 10 million young people worldwide, and Lukoil’s deep dive on CIS countries, enhancing local capacities and knowledge to deliver effective national youth employment policies and programmes.
Partners of Decent Jobs for Youth agree to align their actions to 15 key guiding principles and improve the quantity and quality of jobs for youth. In return, they (i) secure access to expertise, networks, and best practices from a worldwide alliance committed to creating decent jobs for young women and men; (ii) gain further global recognition by positioning the organizations’ youth employment actions in the context of the 2030 Agenda for Sustainable Development; and (iii) increase their scope and impact through synergies at country and regional level.
For more on the Global Initiative on Decent Jobs for Youth check: www.decentjobsforyouth.org .
EU plans to invest €9.2 billion in key digital technologies
The Digital Europe Programme is a new €9.2 billion funding programme whose goal is to ensure that all Europeans have the skills and the infrastructure needed to meet a full range of digital challenges.
It is part of a strategy to further develop the digital single market, which could help to create four million jobs and boost the EU’s economy with €415 billion every year while increasing the EU’s international competitiveness.
“For too many years, Europe’s tech sector has lagged behind third countries such as the US and China. We need a coherent Union-wide approach and an ambitious investment to secure a solution to the chronic mismatch between the growing demand for the latest technology and the available supply in Europe,” said Austrian ALDE member Angelika Mlinar, one of the MEPs repsonsible for steering the plans through Parliament.
A part of the budget would be allocated to encourage small and medium-sized enterprises and public administrations to use technology more often and better, while other parts will cover strategically important fields such as supercomputers, artificial intelligence and cybersecurity.
“We can count on European excellence when it comes to research and innovation, but our businesses, especially SMEs, still found it difficult to access and take advantage of new solutions,” said Milnar. “This programme has been crucially designed to tackle the low take-up of existing testing technologies. We are on track to deliver one of the most promising and necessary funds for Europe’s future.”
ADB Releases Annual Report, Financial Results for 2018
The Asian Development Bank (ADB) released its Annual Report for 2018 today. The report presents ADB’s important operational and organizational milestones over the past year, including key numbers and data of ADB operations, activities, and financial results.
It also focuses on the adoption of ADB’s new long-term corporate strategy, Strategy 2030, approved in July 2018, and highlights the strategic transition in progress across all aspects of ADB’s operations and organization.
The demand for ADB assistance continued to grow in 2018. New commitments included $21.6 billion in loans, grants, and investments from ADB’s own resources, exceeding the target of $19.71 billion and up 10% from 2017.
Private sector operations reached $3.14 billion, a 37% increase from 2017, which is 14.5% of ADB’s overall commitment. The result reflected ADB’s long-term strategy to increase support for private enterprise, especially in new markets and sectors, to create more high-quality jobs and to mobilize private financial resource for development.
ADB also successfully mobilized $14 billion in cofinancing from bilateral and multilateral agencies and other financing partners, including $7.17 billion in cofinancing from ADB’s private sector operations. The increase in cofinancing saw total new commitments reach $35.82 billion in 2018, a 13% increase over 2017, reflecting the importance of partnerships in addressing Asia and the Pacific’s continuously growing development needs.
Disbursements, a key indicator for successful project implementation, also improved, rising to $14.19 billion in 2018, an increase of 24% from 2017.
In his message to stakeholders in the report, ADB President Mr. Takehiko Nakao said that Strategy 2030 had energized ADB and positioned the Manila-based lender well to help countries in Asia and the Pacific cope with the challenges and opportunities that lie ahead.
“As our region continues to develop and transform, so too must ADB,” said Mr. Nakao. “Strategy 2030 provides us with a clear roadmap to meet the needs of our developing member countries (DMCs) and guide our operations for the next decade. We set out clear corporate targets to significantly increase operations, to build climate and disaster resilience, address gender equality, and mobilize long-term private financing.”
ADB continued to deliver on its climate commitments in 2018 with $3.6 billion in financing approved. ADB is on target to double its annual climate financing to $6 billion in approvals by 2020.
ADB also made significant progress in designing projects with a gender focus. In 2018, 47% of ADB’s support, on a three-year-average term, included elements that directly improved the lives of women and girls in the region.
The report also records ADB’s successful efforts to strengthen its role as a leading provider of development knowledge and expertise to DMCs seeking support to implement policies, programs, and projects that utilize international best practices and learnings.
Internally, ADB continued to implement initiatives to improve operational efficiency and business processes. The report describes key areas of reform that support Strategy 2030, including information technology reforms to modernize ADB’s systems and infrastructure.
In 2018, to complement its print and online editions, ADB produced a new format of the Annual Report that is optimized for smart devices and screens. The new format includes rich multimedia content and enables standard touchscreen features such as swipe, tap, and scroll.
New ACP-EU partnership: EU discusses future EU- Caribbean relations
As the EU works to modernise its relations with the 79 countries in Africa, the Caribbean and the Pacific (ACP), chief negotiators Neven Mimica and Robert Dussey met with ACP Caribbean leaders for a dialogue on the regional EU-Caribbean pillar in the context of the post Cotonou ACP-EU partnership.
Today’s discussions form part of broader regional consultations and are focused on the Caribbean’s specific needs and priorities for the coming years. The outcome will guide the negotiators’ work in creating a tailor-made EU-Caribbean partnership within the future ACP-EU agreement.
Commissioner for International Cooperation and Development Neven Mimica, who is the EU’s chief negotiator said: “Today’s discussions confirmed a shared vision for the future and a good understanding of the pressing challenges we need to tackle together. In this spirit, the EU’s relationship with the Caribbean will deepen under our future ACP-EU agreement and open up fresh opportunities”.
Professor Robert Dussey, the ACP’s chief negotiator, Chair of the Ministerial Central Negotiating Group, and Minister for Foreign Affairs, Cooperation and Africa integration of Togo, said: “These regional consultations proved to bring valuable perspectives on this region’s priorities to our talks. Productive exchanges between the two parties will contribute enormously to the current negotiations for the new post-Cotonou Agreement, and especially to those which will begin on the Caribbean Regional Protocol. Today’s meeting follows the consultation held in Samoa with our ACP Pacific partners in February. The Africa consultation is due to take place soon in Eswatini.”
The Minister of Foreign Affairs and Foreign Trade of Jamaica, Kamina Johnson-Smith, added: “Within the framework of the ongoing ACP-EU post-Cotonou negotiations, the Government of Jamaica is pleased to host the regional consultations for the Caribbean and to have the opportunity to jointly explore with our EU partners some of the urgent issues related to our developmental aspirations.”
The Cotonou Agreement currently governing ACP-EU relations is due to expire in 2020. Negotiations on a new ACP-EU partnership were launched in New York on 28 September 2018 in the margins of the United Nations General Assembly.
The two first series of talks mainly focused on the common foundation at ACP-EU level. This contains the values and principles that bring the EU and ACP countries together. It also indicates the strategic priority areas that the two sides intend to prospectively work on together. In the future agreement, on top of the foundation there will be three action-oriented regional pillars to focus on each region’s specific needs. Through the future partnership, EU and ACP countries will seek closer political cooperation on the world stage. Together, they represent more than half of all UN member countries and unite over 1.5 billion people.
Americans fear punishment for Afghan war crimes
Lo and behold! Looks like the “great and terrible” United States can be scared to the point of hysteria. Another...
Post-Pulwama False Flag Operation: Prediction and Reality
Since the nuclearization of South Asia in 1998, the region has become a major component of international security and stability....
Russia in Venezuela
Russia´s interests and presence in Latin America is not new. We should remember Russian activities in Cuba during the Cold...
EU plans to invest €9.2 billion in key digital technologies
The Digital Europe Programme is a new €9.2 billion funding programme whose goal is to ensure that all Europeans have...
The Luxury Collection Debuts in Cyprus With Parklane, A Luxury Collection Resort & Spa
The Luxury Collection®, part of Marriott International Inc., today announced the opening of Parklane, a Luxury Collection Resort & Spa,...
Economic reform in the Gulf: Who benefits, really?
For Gulf leaders, long-overdue economic reforms were never going to be easy. Leaders like the crown princes of Saudi Arabia...
China needs further reforms to make growth sustainable, greener and more inclusive
The Chinese economy continues to slow as it rebalances, with headwinds including trade frictions and the weakening global economy undermining...
Economy3 days ago
Back to IMF: Whither Pakistan’s Medina Model
Reports2 days ago
Bhutan’s Economy to Moderately Grow in 2019 and 2020 on Strong Hydropower and Tourism Outlooks
Europe2 days ago
Why Italy Needs to Enhance Its Strategic Vision
Newsdesk2 days ago
Djibouti Signs ICSID Convention to Encourage Investment
Russia2 days ago
Eurasia’s Great Game and the Future of the China-Russia Alliance
Reports2 days ago
SMEs turning to alternative financing instruments as growth slows in bank lending
Reports3 days ago
Further reforms in Japan needed to meet the challenges of population ageing and high public debt
Russia1 day ago
The Results of the Azerbaijan- Russia Industrial Cooperation Forum