The World Bank has announced additional financing of US$500 million to support ongoing efforts to improve the affordability of formal housing for low-income households in Egypt and strengthen the capacity of Egypt’s Social Housing and Mortgage Finance Fund to design policies and coordinate social housing programs.
The financing complements the ongoing Inclusive Housing Finance Program, which has benefitted 287,600 households across the country since 2015. The program has prioritized families—57 percent of beneficiaries are married couples with young children. On average, over three-fourths of beneficiary households over the past five years were in the lowest 40 percent of Egypt’s household earned-income distribution, with this percentage steadily increasing from 68 percent in 2015 to 80 percent in 2019.
“Affordable housing is essential to contributing to national socio-economic development and the achievement of the United Nations’ Sustainable Development Goals,” said H.E. Dr. Rania Al-Mashat, Egypt’s Minister of International Cooperation, who also represents Egypt on the World Bank’s Board of Governors. “Urbanization and development are indivisibly linked to one another. Our partnership with the World Bank builds on the Inclusive Housing Finance Program’s success in creating safe and affordable housing, and in building resilient societies and economies.”
The expanded program aims to scale up the delivery of demand-side subsidies for affordable housing, increasing the number of beneficiaries by 31 percent and contributing to the government target of supporting more than one million homes for low-income households by 2024. The additional financing will encourage private sector participation in their construction. The government approved new public–private partnership guidelines in January 2020, addressing the key concerns of private developers to facilitate their participation in affordable housing.
“This program will support ongoing efforts to enhance current housing programs to benefit Egyptians with limited income,” said H.E. Dr. Assem El Gazzar, Egypt’s Minister of Housing, Utilities, and Urban Communities. “It will increase the sector’s efficiency and ensure that programs are designed to fit the needs of Egyptians, in addition to promoting private sector participation in the area of social housing.’’
“Through this project we are continuing our commitment to improving the livelihoods and productivity of Egyptians, while encouraging private sector participation in social housing. This is crucial for the success of the country’s reform program,’’ said Marina Wes, World Bank Country Director for Egypt, Yemen and Djibouti.
Increasing access to housing for low-income people is a key priority in the World Bank’s Country Partnership Framework with Egypt. The program’s gender provisions are aligned with the WBG’s Gender Strategy pillar on “Removing Barriers to Women’s Ownership and Control of Assets.” They are also aligned with the World Bank’s Middle East & North Africa Regional Strategy and the Maximizing Finance for Development approach. This supports the development of public–private partnerships for low-income housing and brings private rental landlords into the low-income housing sector.
The World Bank’s program in Egypt supports robust reforms under three interrelated pillars, defined by the Country Partnership Framework. The first focuses on building Egypt’s human capital through developing a better education system, implementing health reforms and expanding social safety nets. The second focuses on improving Egypt’s competitiveness through private sector-led growth, supporting transformation to a digital economy and catalyzing entrepreneurship for job creation. The third pillar focuses on improving governance and building local government capacity to deliver better services to citizens.
The World Bank portfolio in Egypt comprises 12 projects with a total commitment of US$5.9 billion, complemented by the Bank’s global knowledge and analytical services.
GHG emissions from pyrolysis are nine times higher than in mechanical recycling
New study published today by Zero Waste Europe (ZWE) finds that greenhouse gas emissions from pyrolysis of plastic packaging are nine times higher than that of mechanical recycling. The “Climate impact of pyrolysis of waste plastic packaging in comparison with reuse and mechanical recycling” study is based on the estimated future recycling content targets in plastic packaging.
BACKGROUND: In the context of the revision of the Packaging and Packaging Waste Directive (PPWD), the European Commission (EC) assigned the independent consultancy Eunomia to consider the possible introduction of recycled content targets for plastic packaging by 2030. Based on the estimated future recycling content targets in plastic packaging, Eunomia determined to recycle quantities that must come as outputs from chemical recycling or mechanical recycling. Chemical recycling, in this case, means thermo-chemical (i.e. pyrolysis) recycling.
With this study, commissioned by ZWE and Rethink Plastic alliance to Öko-Institut, we calculated the impact of Eunomia’s proposed scenario regarding greenhouse gas (GHG) emissions and carbon loss. The study compares seven scenarios to meet the projected recycled content target by 2030, and puts them into perspective with the Paris Agreement commitments to limit global warming to 1.5 degrees Celsius.
The study found that:
- Pyrolysis GHG emissions are nine times higher than those in mechanical recycling – in all scenarios considered over 75% of greenhouse gas emissions are attributable to chemical recycling;
- Over half of the carbon content of plastic is lost in the pyrolysis process and has to be replaced by new plastic;
- Mechanical recycling must be prioritised over pyrolysis wherever possible – shifting 30% of the production attributed to chemical recycling by Eunomia to mechanical recycling would reduce GHG emissions by 31%;
- Combining shit to more mechanical recycling together with a reduction of 20% of packaging would result in a 45% reduction of GHG emissions compared to the “chemical recycling scenario”.
- Combining mechanical and chemical recycling to transform plastic waste into recyclate avoids the GHG emissions associated with the use of primary plastic.
ZWE’s Chemical Recycling and Plastic-to-Fuel Policy Officer, Lauriane Veillard says: “The revision of the PPWD should serve as a lever to make the packaging sector more circular and be in line with European climate commitments to limit Global Warming to 1.5 Degrees Celsius. There are other ways than pyrolysis for contact-sensitive materials. The climate impact of the managing pathways should be considered when setting targets. The revision is the opportunity to rethink the overall volume and the use we make of plastic packaging.“
With this in mind, ZWE urges the European Commission (EC) to consider the reports’ findings in the upcoming revision of the PPWD and to:
- Introduce legal safeguards to prioritise mechanical recycling over pyrolysis;
- Consider the climate impact of different recycling technologies when settings targets for recycled content;
- Incentivise measures such as design for recycling and innovations along the plastic packaging value chain to facilitate mechanical recycling.
Lauriane Veillard adds: “If we are serious about achieving net-zero emission economy, mechanical recycling must be preferred over pyrolysis. However, this cannot be achieved unless legal safeguards as part of the P&PWD revision are introduced to prioritise mechanical processes for recycling packaging waste complemented with ambitious prevention and reuse targets”.
Rwanda: Boosting Exports Through Technology, Innovation, and Trade in Services
Released today, the new Rwanda Economic Update finds that, after a strong economic recovery last year, Rwandan GDP growth is expected to be moderate in 2022 due, in part, to the effects of the war in Ukraine and the persistent risk of the COVID-19 pandemic in major economies.
According to the 19th edition of the Rwanda Economic Update (REU19) titled Boosting Exports Through Technology, Innovation, and Trade in Services, GDP growth is projected at 6% for 2022, after reaching 11% in 2021. Inflation continues to mount as increases in international commodity prices and the disruption of global supply chains have led to substantial increase in energy, transport, and food prices.
“The mounting inflation in Rwanda, which comes at the time when employment has not yet recovered to its pre-pandemic level, has the potential to undo hard-won achievements in terms of poverty reduction and human capital development. Government interventions to protect the most vulnerable, building on the country’s social safety nets continue to be critical,“ said Rolande Pryce, World Bank Country Manager for Rwanda.
In its special focus on trade, the report gives an insight into Rwanda’s export performance. The REU19 notes that Rwandan firms have increased their participation in international trade (particularly in services) over the last decade, to levels exceeding that of regional and continental peers. Discussing the main drivers of trade performance, the report highlights that securing a certification for an international quality standard, such as the International Organization for Standardization (ISO) certificate, is a critical factor in facilitating firms’ participation in international trade. Firms with ISO certification are 36% more likely to be exporters. However, this remains a major challenge for Rwanda as only 3% of Rwandan firms had obtained ISO certification in 2019.
The REU19 also shows a significant correlation between the adoption of e-commerce in Rwanda and the participation in international trade and noted its limited use by Rwandan firms.
“The strong link between e-commerce and exporting, and the lack of information regarding foreign markets regularly cited by firms in Rwanda, suggests investment in internet infrastructure can provide isolated enterprises, such as those in rural and underdeveloped urban areas, low-cost connectivity to markets and customers, and increase local firms’ participation in international trade,” said Calvin Djiofack, World Bank Country Economist .
According to the REU19, Rwanda has placed great emphasis on services development to raise employment, income, and export earnings. Yet, the country is facing a skills deficit that, if not addressed, will constrain potential growth for high-skill services exports.
One of the measures the report recommends to boost openness to trade in services, is for Rwanda to address its skills shortage in the short-run by recognizing qualifications of regional professionals, and abolishing work-permit regimes for them.
Lavrov: Russia had ‘no choice’ but to launch ‘special military operation’ in Ukraine
Faced with the “inability” of Western countries to negotiate and the Ukrainian Government’s “war against its own people” in the east, Russia had “no choice” but to launch what the Government refers to as its special military operation, Foreign Minister Sergey Lavrov told the UN General Assembly on Saturday.
The operation launched on 24 February had been carried out to protect Russians living in Ukraine’s Donetsk and Luhansk regions, and eliminate threats to Russian security, said Mr. Lavrov, that the EU and United States-led NATO military alliance had consistently created in the territory, since what he described as the “bloody coup” by the current “Kyiv regime”, in 2014.
“I am convinced that any sovereign, self-respecting State would do the same in our stead, which understands its responsibility to its own people.”
‘Throwing a fit’
Mr. Lavrov accused the West of “throwing a fit” over this weekend’s referenda being conducted in the Donbas and other Russian-controlled areas on becoming a part of the Russian Federation, countering that people there were simply following an order from Kyiv, to “get out and to go to Russia”.
The Russian Foreign Minister said the crises surrounding the war were growing, and the international situation was rapidly deteriorating, but instead of having an honest dialogue and searching for compromise, the West was “undermining confidence in international institutions” and encouraging negative tendencies within the United Nations as well.
He said the United States was trying to turn the whole world into its “backyard”, and together with its partners, punishing dissenters from its world view, through what he called “illegal unilateral sanctions” which violate the UN Charter, and hurt poor citizens in poorer countries, targeting their medicines, vaccines and food imports.
Attempts by the US to impose dividing lines, telling nations “you’re either with us or against us”, meant that instead of “honest dialogue” there was instead “disinformation, crude staging, and provocations”.
He praised the UN Secretary-General for mobilizing efforts to overcome the global food and energy crisis fuelled by the war but blamed the West for economic mismanagement in the pandemic, claiming that sanctions against his country amounted to an “economic war against Russia.”
He praised the Black Sea Grain Initiative to free up food and fertilizer from Ukraine, and Russia, to alleviate price inflation and supply, but said the poorest countries were still not benefitting, and again criticized the US and EU for not fully removing “obstacles” to Russian exports he said were trapped in European ports.
Mr. Lavrov told the Assembly that there was now a “crusade by the West against the objectionables”, with NATO seeing Russia as simply a threat to its domination of the region and beyond.
Furthermore, Russophobia, he said, had reached unprecedented proportions, with Western powers making no secret of their ambition to militarily defeat Russia, and try to “destroy and fracture Russia…What they want to do is to remove from the global map, a geopolitical entity, which has become all too independent.”
He warned countries beyond Europe and North America, that the Western alliance, in an effort to impose its will, was seeking to expand influence and hegemony further into Asia, South America, and Africa, and ended his remarks by quoting the hugely influential and charismatic second UN Secretary-General, Dag Hammarskjöld:
Save humanity from hell
“The UN wasn’t created to take mankind to paradise, but rather to save humanity from hell. These are very topical words. They call upon us, to understand our individual and collective responsibility for creating conditions for a peaceful and harmonious development for our future generations, and everyone needs to show political will for that.”
Ending his speech on a conciliatory note, and a nod to a brighter future for multilateralism, he said he was convinced that the stability of the world order could be ensured, by returning to “the origins of UN diplomacy”, based on the key principle of “sovereign equality of States”.
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