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AIIB Investment in India nears USD3 Billion

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The Asian Infrastructure Investment Bank (AIIB) has ramped up its investments in India with total in-country financing now standing at USD2.9 billion.

Two of its most recent projects—approved by AIIB’s Board of Directors in October totaling USD575 million—are expected to ease congestion in the country’s financial hub and boost private capital investment in renewable energy, power transmission and water infrastructure.

A loan of USD500 million granted to the government of India is expected to fast-track work on Mumbai’s suburban railway network, improving the safety and daily commute of millions of passengers across the city. The funds will contribute to a quadrupling of Virar-Dahanu Road corridor (64 kilometers) to provide an extension of the suburban railway service to connect peripheral areas with Mumbai. The project will also see the construction of a new suburban railway corridor between Panvel and Karjat localities (28 kilometers) to cater to commuters in the area under rapid urbanization and population growth.

Additionally, there will be an installation of control measures on 36 priority sections of existing lines to reduce fatal accidents. These measures include track segregation by fencing or using reinforced concrete walls and pedestrian crossings over or under the tracks. With a population of about 12 million, rail is the primary means of transport in Mumbai, where the suburban network totals almost 400 km and carries more than 7.5 million passengers a day.

“Over the past four years, AIIB’s investments in India have grown exponentially,” said AIIB Vice President and Chief Investment Officer D.J. Pandian. “This is a clear sign of our valuable partnership. AIIB will continue aligning its commitments with the government’s priorities, with the Bank serving as a catalyst to India’s continued development.”

As part of its firm commitment to financing sustainable infrastructure, the Bank also approved in October a loan of USD75 million to Tata Cleantech Capital Limited (TLLC), a leading financier of renewable energy in India. The Tata Cleantech Sustainable Infrastructure On-Lending Facility project aims to increase private capital investment in renewable energy, power transmission and water infrastructure. The project will increase the provision of affordable and clean power, reduce greenhouse emissions and expand the power’s network reach and capacity. Under the Paris Agreement, the Government of India plans to reduce the country’s carbon intensity by 30-35 percent of 2005 levels.

To date, AIIB, which commenced operations in India in 2016, has contributed to 13 projects to assist its second largest shareholder develop infrastructure and services in transport, energy, water and finance.

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African nations leading the way on ‘food systems transformation’

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African countries are at the vanguard of a vital transformation of food systems to simultaneously address food security, nutrition, social and environmental protection – all while boosting resilience – said the UN chief on Thursday. 

António Guterres was addressing the start of a high-level policy dialogue at UN Headquarters in New York, part of the Africa Dialogue Series 2022, convened to strengthen resilience in food supplies across the continent, at a time when “decades of progress on hunger are being reversed.” 

Deep connections 

He said for too long, nutrition, food security, conflicts, climate change, ecosystems and health have been treated as separate concerns, “but these global challenges are deeply interconnected. Conflict creates hunger. The climate crisis amplifies conflict”, and systemic problems are just getting worse. 

He noted that after more than a decade of improvements, one in five Africans were undernourished in 2020, while 61 million African children are affected by stunting. Women and girls bear the brunt, and when food is scarce, “they are often the last to eat; and the first to be taken out of school and forced into work or marriage.” 

Mr. Guterres said that UN humanitarians and partners were doing their utmost to meet Africa’s needs amidst crisis, but aid “cannot compete with the systemic drivers of hunger.” 

Other “external shocks” were exacerbating the situation, such as an uneven recovery from the pandemic and the war in Ukraine, with African countries among the most heavily impacted by grain shortages and rising debt.  

Climate crisis frontline 

Building resilience also requires addressing the climate crisis. 

African farmers are on the frontlines of our warming planet, from rising temperatures to droughts and floods,” he said. 

“Africa needs a massive boost in technical and financial support to adapt to the impact of the climate emergency and provide renewable electricity across the continent.” 

He added that developed countries must deliver on their $100 billion climate finance commitment to developing countries, with the help of international financial institutions, so African countries, in particular, can invest in a strong recovery from the COVID-19 pandemic, on the tide of renewable energy.  

Food systems, said the Secretary-General, “connect all these challenges”, as highlighted at last September’s UN Food Systems Summit

“Many African Member States led the call for fundamental change, through inclusive transformation pathways, which aim to address – simultaneously – food security, nutrition, social protection, environmental conservation and resilience to shocks.” 

He welcomed the African Union (AU) decision to designate 2022 as the Year of Nutrition – a pledge to act on the strong commitments made at the Summit. 

Collective expertise 

“Through national, regional and global cooperation, we must build on lessons learned and harness collective expertise. Together, we must deliver on these pathways”, Mr. Guterres added. 

The international community must rise to the occasion”, he declared, adding that scaling back support when demand is at an all-time high, was “not an option.” 

Official Development Assistance, or ODA, based on a percentage of available public funds, is more necessary than ever, he said. 

“I urge all countries to demonstrate solidarity, invest in resilience, and prevent the current crisis from escalating further.” 

The UN chief said that during his recent visit to Senegal, Niger, and Nigeria, he had been inspired by the resilience and determination of the people he met. 

“Women and young people in particular were committed to lasting, sustainable solutions that enable them to live in peace with their neighbours and with nature.” 

If we work together, if we put people and planet before profit, we can transform food systems, deliver on the Sustainable Development Goals (SDGs) and leave no one behind.” 

The ambitious goals, he concluded, of ending hunger and malnutrition by the fast-approaching 2030 deadline, were realistic, and achievable. 

“The United Nations stands by your side, every step of the way.” 

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World’s richest countries damaging child health worldwide

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Over-consumption in the world’s richest countries is creating unhealthy, dangerous, and toxic conditions for children globally, according to a new report published on Tuesday by the UN Children’s Fund (UNICEF).

“Not only are the majority of rich countries failing to provide healthy environments for children within their borders, they are also contributing to the destruction of children’s environments in other parts of the world,” said Gunilla Olsson, Director of the UNICEF Office of Research – Innocenti.

Urgent policy shift

The latest Innocenti Report Card 17: Places and Spaces compares how 39 countries in the Organization for Economic Co-operation and Development (OECD) and European Union (EU) impact children’s environments.

Indicators include exposure to harmful pollutants, such as toxic air, pesticides, damp and lead; access to light, green spaces and safe roads; and countries’ contributions to the climate crisis, resource consumption, and e-waste dumping.

The report states that if the entire world consumed resources at the rate of OECD and EU countries, the equivalent of 3.3 earths would be needed to keep up with consumption levels.

If it were at the rate at which people in Canada, Luxembourg and the United States do, at least five earths would be needed, according to the report.

Not in your own backyard

While Spain, Ireland and Portugal feature at the overall top of the list, all OECD and EU countries are failing to provide healthy environments for all children across all indicators.

Based on CO2 emissions, e-waste and overall resource consumption per capita, Australia, Belgium, Canada and the United States are among other wealthy countries that rank low on creating a healthy environment for children within and beyond their borders.  

Meanwhile, Finland, Iceland and Norway are among those that provide healthier environments for their country’s children but disproportionately contribute to destroying the global environment.

“In some cases we are seeing countries providing relatively healthy environments for children at home while being among the top contributors to pollutants that are destroying children’s environments abroad,” attested Gunilla Olsson, Director of UNICEF Office of Research

In contrast, the least wealthy OECD and EU countries in Latin America and Europe, have a much lower impact on the wider world.

Harmful exposures

Over 20 million children in this group, have elevated levels of lead – one of the most dangerous environmental toxic substances – in their blood.

In Iceland, Latvia, Portugal and the United Kingdom, one in five children is exposed to damp and mould at home; while in Cyprus, Hungary and Turkey, that number rises to more than one in four.

Many children are breathing toxic air both in and outside of their homes.

More than one in 12 children in Belgium, Czech Republic, Israel and Poland and are exposed to high pesticide pollution, which has been linked with cancer – including childhood leukaemia – and can harm vital body systems.

We owe it to ourselves and to future generations to create better places and spaces for children to thrive,” Ms. Olsson said.

Improve children’s environments

Children in poor families tend to face greater exposure to environmental harm –entrenching and amplifying existing disadvantages and inequities.

Mounting waste, harmful pollutants and exhausted natural resources are taking a toll on our children’s physical and mental health and threatening our planet’s sustainability,” said the UNICEF official.

As such, UNICEF has urged national, regional, and local governments to improve children’s environments by reducing waste, air and water pollution, and ensuring high-quality housing and neighbourhoods.

Children’s voices count

Governments and businesses must immediately honour their commitments to reduce greenhouse gas emissions by 2050. And climate adaptation should also be at the forefront of action across various sectors – from education to infrastructure.

Child-sensitive environmental policies must ensure that children’s needs are built into decision making and that their perspectives are considered when designing policies that will disproportionately affect future generations.

UNICEF’s report outlines that although children are the main stakeholders of the future and will face today’s environmental problems for the longest time, they are the least able to influence the course of events.

“We must pursue policies and practices that safeguard the natural environment upon which children and young people depend the most,” Ms. Olsson said.

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UNICEF urges leaders to keep schools safe following deadly Texas shooting

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Governments must take greater action to ensure school remains a safe place for boys and girls, the head of the UN children’s agency, UNICEF, said on Wednesday, following the latest deadly school shooting in the United States. 

At least 19 children and two teachers were killed on Tuesday when 18-year-old gunman Salvador Ramos opened fire at Robb Elementary School in the small city of Uvalde, Texas, located near the border with Mexico. 

How many more? 

Catherine Russell, UNICEF’s Executive Director, said there have already been “horrific attacks” this year on schools in Afghanistan, Ukraine, the US, West Africa and beyond. 

“Tragedy after tragedy, shooting after shooting, young life after young life: how many more children will die before government leaders act to keep children and their schools safe? Because until they do, these horrors will continue,” she said in a statement. 

Ms. Russell emphasized that outside of their homes, school is the one place where children should feel safest. 

She noted that in addition to the lives lost, “many more children, teachers and school staff who witnessed the carnage will bear the emotional and psychological scars for the rest of their lives.” 

Shock and sadness 

UN Secretary-General António Guterres was deeply shocked and saddened by “the heinous mass shooting”, saying it was particularly heart-wrenching that most of the victims are children.  

Mr. Guterres has extended his heartfelt condolences to the families and loved ones of the victims and to the entire community, his Spokesperson said in a statement issued on Tuesday. 

UN Deputy Secretary-General Amina Mohammed expressed her outrage in a post on Twitter. 

“When children go to school, they should only be concerned about learning,” she wrote.  “Children should not go to school fearing for their lives!” 

Ms. Mohammed said her heartfelt prayers are with the families, classmates and teachers who are mourning this “devastating loss”. 

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