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ADB, Kashf Foundation Partner to Expand Women’s Access to Credit in Pakistan

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The Asian Development Bank (ADB) has approved a $25 million syndicated loan to support the lending operations of Kashf Foundation, one of Pakistan’s leading microfinance service providers, to low-income households and women-led micro, small, and medium-sized enterprises (MSMEs). The loan will help expand women’s access to finance in Pakistan and empower them economically.

“There is a need to improve access to finance in Pakistan, particularly for women in low-income communities as well as women-led enterprises. An inclusive financial sector is essential for Pakistan’s sustainable development,” said ADB Investment Specialist Ms. Tina Rohner. “ADB’s partnership with Kashf Foundation will help address this issue and provide much-needed financial products for MSMEs led by women, which have the potential to contribute significantly to the country’s growth and development.”

Access to finance is very limited in Pakistan, with only 21.3% of adults and 7% of women over the age of 15 having a bank account in fiscal year 2017. This situation is particularly acute for MSMEs and individual borrowers, especially women-run microenterprises, as these entities receive only about 7% of total bank credit to the private sector despite contributing around 40% to gross domestic product. MSMEs account for about 98% of all enterprises in Pakistan, employing more than 80% of the nonagricultural labor force.

ADB’s assistance comprises an A loan (to be funded by ADB) of up to $15 million and a B loan of $10 million that will be funded by commercial cofinancers including international impact investors. The assistance will expand Kashf Foundation’s lending operations and market base, giving more women and women-led MSMEs access to much-needed long-term financing to further develop their livelihoods and incomes. Apart from microenterprise lending, the project will support Kashf Foundation’s other objectives including narrowing the financing gap in the private education sector and improving the quality of education at schools it supports. The successful syndication of this transaction has allowed ADB to mobilize valuable investment from international impact investors into Pakistan’s microfinance sector.

Kashf Foundation, established in 1996 as a microfinance service provider, aims to alleviate poverty in Pakistan and empower women by providing quality and cost-effective microfinance services to low-income households. As of June 2018, Kashf Foundation served 412,983 clients with a gross loan portfolio of $85 million through its distribution networks composed of 291 branches across 50 districts in Pakistan.

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Development

Japan Launches Circular Economy Collaboration with WEF

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Achieving a circular economy will require transforming policy and business. It will also require a new approach to collaboration.

To that end, theMinistry of the Environment, Japan (MOEJ) and Keidanren (Japan Business Federation) announced the launch of the Partnership on Circular Economy at this week’s Japan Circular Economy Roundtable hosted by the World Economic Forum.

This new partnership will bring leaders in business and government together to accelerate the circular economy in Japan. In this public-private partnership, best practices in Japan will be aggregated and disseminated to broader stakeholders within the supply chain, including consumers domestically and internationally. The partnership is expected to evolve through collaboration with the World Economic Forum’s Circular Economy Initiative.

The partnership will prompt dialogue between the public and private sector to identify focus areas, barriers and next actions towards the circular transition. The Forum will help shape the strategy and approach going forward.

Japan’s transformation will set a key example for other business and policy leaders. The country is one of the largest generators of plastic packaging waste per capita around the globe, according to the U.N. Environment program.

The Japanese government’s newly announced partnership builds on other recent initiatives to address plastics waste, such as a plastic bags charge. This year, the government also released guidance for companies to help accelerate sustainable finance and a Roadmap for Bioplastics Introduction (to promote substitution of fossil-based plastics with sustainable materials), and has drafted a new bill aimed at advancing plastic resource circulation.

“Japan is now accelerating ‘Three Transitions’ towards: a decarbonized society, a circular economy, and a decentralized society to redesign the socioeconomic system,” said Shinjiro Koizumi, Minister of the Environment, Japan.

The Roundtable – presented in collaboration with the Ministry of Environment, Japan – was organized by the World Economic Forum’s Circular Economy Initiative. The event, held 2-3 March, featured two days of high-level discussions exploring trends, policies and leading practices to scale circular economy ambitions.

The Roundtable was kicked off by a public livestreamed session that included the following speakers: Shinjirō Koizumi, Minister of the Environment, Japan; Stientje van Veldhoven, Minister of Environment Netherlands; Børge Brende, President and CEO, World Economic Forum; Naoko Ishii, The University of Tokyo; Masayuki Waga, CEO Mitsubishi Chemical Corporation; Tsutomu Sugimori, Vice Chair Keidanren (Japan Business Federation).

Creating a circular economy for electronics was a key area of focus at the Roundtable. That sector kept economies running during the pandemic, but as World Economic Forum research has shown, it’s also the fastest-growing waste stream. Around 54 million metric tonnes of electric waste are generated globally, with countries such as Japan, the US and China among the top five contributors.

To create new ways to manage production and consumption, the event also showcased how countries in the ASEAN region and beyond are leveraging Fourth Industrial Revolution technologies. Forum initiative Scale360°, a scalable partnership model helping diverse collaborators drive circular innovation, was one of many solutions discussed.

Speakers also shared how new actions – aided by policy – were speeding the circular transition. “Government leaders are showing how new policies, collaborations and commitments can make a dramatic impact,” said Antonia Gawel, Head of Circular Economy & Innovation at the World Economic Forum. “Circularity is critical to achieving net-zero decarbonization and protecting the climate for future generations. Time is of the essence.”

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EU Politics

Europe Future Neighbourhood – Disruptions, Recalibration, Continuity

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On 8 March 2021 International Institute for Middle East and Balkan Studies (IFIMES organizes together with partners in Vienna international conference entitled Europe Future Neighbourhood – Disruptions, Recalibration, Continuity. Co-organizers of the event are IFIMES along with Modern Diplomacy (the EU-based news platform, www.moderndiplomacy.eu), European Perspectives (the international scientific journal, www.europeanperspectives.org), Vienna School of International Studies (the oldest diplomatic school in the world, www.da-vienna.ac.at) and Culture for Peace (the Vienna-based platform for arts, culture and applied science, www.upf-cultureforpeace.org).

International conference

Europe Future Neighbourhood –

Disruptions, Recalibration, Continuity

FestSaal, Diplomatic Academy Vienna, Favoritenstraße 15a, 1040 Vienna.

Monday, 8 March 2021 from 10.00 to 18.00 h 

Information about the detailed program and registration:

E-mail: Euro-med[at]ifimes.org, Vienna[at]ifimes.org 

Live-streaming: https://www.facebook.com/DiplomaticAcademyVienna

On behalf of the organizers, the conference will be opened by Dr. Emil Brix, director of the Vienna School of International Studies(DAW) and Dr. Ernest Petrič, former President of the Constitutional Court of the Republic of Slovenia and Vice-President of the IFIMES Advisory Board.

The participants will be addressed by Olivér Várhelyi, EU Commissioner European Neighbourhood and Enlargement, Dunja Mijatović, Council of Europe Commissioner for Human Rights (tbc), George W. Vella, President of the Republic of Malta and Ilir Meta, President of the Republic of Albania (OSCE 2020 Chairmanship country).

First panel is entitled“Revisiting and Rethinking Euro-Med: Fostering dialogue and a cooperative approach to addressing common challenges”. Moderator of this panel is Lamberto Zannier, OSCE Sec-General (2011-2017), director of Euro-Mediterranean Diplomacy and Intercultural Affairs at IFIMES. The panellists are:

–         Pascal Allizard, Senator, OSCE Parliamentary Assembly Vice President, Special Rapporteur for Mediterranean issues

–         Gustavo Pallares, Deputy Secretary General OSCE Parliamentary Assembly

–         Monika Wohlfeld, German Chair for Peace Studies and Conflict Prevention, Mediterranean Academy of Diplomatic Studies

–         Ali Goutali, OIC Jeddah, Director

–         Ettore Greco, Executive Vice President of the IAI, Head of the Multilateralism and Global Governance programme

–         Emiliano Alessandri, Senior External Co-operation Officer, OSCE

Second Panel is entitled Rule of Law, Health to Education, Social compact, Business continuity in times of C-19 & Europe’s reindustrialisation; Cross-generational and Economic greening; Transit and energy security;”. Moderator of this panel is Lejla Mazlic, Al Jazeera. The panellists are:

–         Florian Iwinjak, UNIDO, Strategic Relations and Resource Mobilisation

–         Carlos López-Veraza Perez, Public Prosecutor, Spain

–         UNCTAD designate – II Dimension, tba

–         ILO designate – EYS Dimension, tba

–         Kamila Zarychta Romanowska, Parliamentary Litigator, EU/Poland

–         Maria Smotrytska, Ukrainian Association of Sinologists, Shanghai/Kyiv

Third Panel is entitled “Brexit and Future of cross-Atlantic relations: Decoupling or Recalibration?”. Moderator of this panel is Katrin Harvey, Ban Ki-moon Centre for Global Citizens, Vienna/Seoul. The panellists are:

–         Eva Kaili, MEP Industry, Research and Energy (AI in a Digital Age), EU/Brussels

–         Katarzyna Zysk, Deputy Director, Norwegian Institute for Defence Studies

–         Scott Younger, Intl Chancellor President University, UK/Scotland

–         Elizabeth Deheza, Head, Latin America Strategic Intelligence, London

–         Matthias E. Leitner, University of Bonn, Germany

–         Sinisa Ljepojevic, Tanjug correspondent London/Washington (aD)

–         Heather Katharine McRobie, Oxford & Bifröst University, UK/AUS/IS

The conference will end with the music programme entitled “From Culture for Peace to Culture of Peace” by Reine Hirano, MSa (cello), Tokyo, Japan, performing Tchaikovsky, Bach and Saint-Saëns live at DAW premises.

International Institute IFIMES and its co-organizers have been joined by numerous universities from Europe, Asia, Africa and America, while the media partners are four renowned European diplomatic magazines and partners from Asia.

The international conference in part of four-tier 2020-21 International Conference of the Vienna Process – Vienna (July 2020 & March 2021), Geneva (May 2021) and Barcelona (September 2021).

Vienna July 2020 – Vienna Process I after movie is available at  https://www.youtube.com/watch?v=QJHxZFaWfgM

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900 suspects detained with the help of Moscow Metro’s face recognition system

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Photo: Vladimir Gerdo / TASS

Since the beginning of September, about 900 suspects have been detained in Moscow with the help of face recognition, said the Head of Moscow Metro’s Security Service Andrei Kichigin in an interview with Lenta.ru. The arrested people were suspected of committing serious crimes, including those related to drug trafficking, theft, causing grievous bodily harm and other violations.

Mr. Kichigin underlined that the face recognition system does not include any personal data. “The face recognition system does not know neither names nor other personal data. Only wanted people are checked, if they are in the law enforcement services’ database. If a person is not in the base, there is nothing to compare to”– says Andrei Kichigin.

According to Moscow Metro, cameras also help to find lost child renor elderly people. Since September 2020, the facial recognition system has helped find 25 children and minors. Another way to use the technology is to evaluate the work of metro employees and remotely monitor the quality of the cleaning service: for example, the quality of cleaning in cars and at stations. The cameras will also help improve the work of the service for assessing the load of cars.

In general, all our actions are aimed at improving the passenger experience of using transport. This is the main goal of all the changes: the installation of CCTV cameras, face recognition and new digital services. We need to make sure we use efficient tools to ensure a safe and comfortable metro environment, – says Andrei Kichigin.

Finally, Mr. Kichigin noted that face recognition will enable the launch of the FacePay service, which will allow paying for travel by “face” at turnstiles and at cash desks. The system is being tested and will be available to passengers throughout the metro by the end of 2021. Andrey Kichigin notes that a similar identity verification system for purchases using Face ID has long been used by smartphone owners.

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