Connect with us

Newsdesk

Explainer: The Coronavirus Global Response

Newsroom

Published

on

What is the Joint Call for Action?

The coronavirus pandemic affects practically every country in the world. Past experiences have shown that even with the availability of effective tools at the world’s disposal, some are protected, while others are not. This inequity is unacceptable – all tools to address the pandemic must be available to all.

With this in mind, the World Health Organization (WHO) and an initial group of global health actors have launched a landmark, global collaboration for the accelerated development, production and equitable global access to new COVID-19 essential health technologies. The partner organisations include: the Bill and Melinda Gates Foundation (BMGF), the Coalition for Epidemic Preparedness Innovations (CEPI), the Global Alliance for Vaccines and Immunisations (GAVI), the Global Fund, UNITAID, the Wellcome Trust and the World Bank.

What is the Coronavirus Global Response?

To respond to the joint call for action from health actors, the EU is joining forces with France, Germany, the United Kingdom, Norway and Saudi Arabia to host a pledging event.

Researchers and innovators around the world are working very hard to find solutions to save lives and protect our health. But they need more funding. World-leading scientists and health experts say €7.5 billion ($8 billion) is now needed to develop solutions to test, treat and protect people, and to prevent the disease from spreading.

With the Coronavirus Global Response, the EU and its partners are taking the lead in the global effort to close this funding gap.

The initiative has two main aims:

  • To rally support for global efforts and attract sizeable financial contributions from the public, private and philanthropic sectors, to bridge the funding gap estimated at €7.5 billion for the development and deployment of diagnostics, treatments and vaccines;
  • To secure a high-level political commitment to ensuring equitable access to therapeutics and vaccines, leaving no-one behind.

How was the €7.5 billion fundraising target set?  

The €7.5 billion ($8 billion) figure is based on an assessment, done in March 2020, by the Global Preparedness Monitoring Board (GPMB), an independent monitoring and accountability body to ensure preparedness for global health crises. 

GPMB identified a shortfall of funding for major needs to fight this pandemic in key areas:

  • $1.25bn for the World Health Organization (WHO) to support the most vulnerable countries;
  • $3bn for research and development (R&D) of vaccines for COVID-19 ($2bn), plus seed funding for manufacturing and deployment ($1bn);
  • $2.25bn for R&D on therapeutics for COVID-19, plus seed funding for manufacturing and deployment;
  • $0.75bn for R&D on diagnostics for COVID-19, plus seed funding for manufacturing and deployment, and
  • $0.75bn to stockpile essential Personal Protective Equipment (PPE) and vaccines.

GPMG has indicated that the full scale up of manufacturing and delivery will cost well above the current target, which is covers only the most urgently needed initial amounts.

Where are the main needs in the areas of vaccines, therapeutics and diagnostics?

In these three areas, underfinancing exists mainly on manufacturing, procurement and deployment rather than research and development, even if this is the most urgent area to cover. The current situation in the three selected areas is as follows:

Vaccines are difficult to develop and the outcome of research is uncertain. Currently, there are more than 70 vaccines in development, and at least 3 have entered into clinical trials. Once a vaccine is available, the challenge will be to produce it in the extremely high quantities needed and required, as well as to ensure that it is available and accessible for all countries, including low and medium-income countries.

Therapeutics: So far more than 40 developers of potential treatments for COVID19 have contacted the European Medicines Agency (EMA) and the Member States for scientific advice. Most of the treatments proposed are medicines currently authorised for other diseases. Clinical trials are currently ongoing to determine their efficacy for the treatment of COVID-19 patients. Once new therapies are identified, the challenge will be their production and manufacturing capacity and the need for large-scale procurement. Procurement at a global level will be costly and funding is therefore needed.

Diagnostics (Tests): At the moment, several types of tests, for different purposes, are in use. Some are used to detect the active disease and others to detect if the person passed on the disease. The latter still have be validated in terms of performance and produced on a large scale. The challenge is procurement and deployment, including equipment to analyse the results when applicable, as well as the link with effective and well-resourced testing strategies.

All new vaccines, diagnostics and treatments developed for COVID-19 will need to be made available globally for an affordable price, regardless of where they were developed or how they were funded. That is the reason why funds from this pledging initiative will go to organisations that are coordinating the global response to this crisis.

What is the GPMB?

Launched in 2018, the Global Preparedness Monitoring Board (GPMB) is an accountability and advisory body composed by 15 members to better respond to global health emergencies. It was created following the recommendations formulated by the UN Secretary General’s Global Health Crises Task Force in 2017.

The goals of the Board are to 1) assess the world’s ability to protect itself from health emergencies, 2) identify critical gaps to preparedness across multiple perspectives and 3) advocate for preparedness activities with national and international leaders and decision-makers and mobilise its influence with other leaders and policy makers at global, national and community levels.

The EU as such is not represented in the Board.

Who is in charge of the funds raised?

The European Union will coordinate the collection of the funds, which will be directed towards the needs identified by the GPMB in three strands: diagnostics, treatments and vaccines.

What is the breakdown of funds allocated to the three strands of work?

The 4 May will mark the beginning of the rolling out of the initiative aimed at developing three strands of work: diagnostics, treatments and vaccines. The breakdown of the funds will be further refined based on the initial indication of the needs identified by GPMB.

Pledges may be general or they may be earmarked for a specific strand.

Who will be developing the diagnostics, treatments and vaccines?

As of 20 April, the WHO had already identified 76 vaccine candidates supported by public, private and public-private consortia. There are many researchers and developers worldwide currently working on innovative solutions, including vaccines, treatments and diagnostics. The pressing needs and the special nature of research and development requires strong global collaboration.

Who will have ownership of the products produced with funding from the initiative?

Funding will benefit organisations that strive to ensure that the products will be available, accessible and affordable across the world, especially in the most vulnerable countries. Pledges will notably target CEPI and GAVI.

Funding pledged will also be accompanied by high-level commitments from donors in support of global access and fair deployment of new diagnostics, treatment and vaccines against COVID-19.

Who can donate? 

All countries, international organisations or financial institutions may contribute, but also the private sector, or foundations.

Why can’t private individuals make a donation?

The EU is not legally able to ask for citizens’ donations. Nonetheless, we are calling on individuals to d show their support by interacting on-line, spreading awareness about the initiative and encouraging the private sector to pitch in. In addition, individuals may make contributions to partner funds, such as the WHO COVID-19 solidarity response fund: https://covid19responsefund.org.

Until when can donations be made? 

Donations can be made as of 4 May 2020. On that day, the Commission will also announce the next milestones of a global campaign, which is to kick off an ongoing rolling replenishment.

What will you do if you exceed the fundraising target?

We aim is to reach €7.5 billion as we believe it is a realistic target for the current needs. More funding will be needed to sustain the actions in the coming months, which could benefit from donations beyond the targets. 

What is the estimated timeline for delivery on the three strands?

Given the current crisis, there is no time to lose. Funds will be allocated as quickly as possible. While a number of solutions are already being investigated, R&D, manufacturing and deployment are all time-consuming, resource-intensive steps. This is why it is crucial to coordinate efforts at international level, to identify as quickly as possible the most promising approaches while accelerating their development.

What are the links with the funds already raised for the WHO?

The WHO is currently helping to coordinate the worldwide response to COVID-19, which it declared to be public health emergency of international concern (PHEIC) on January 30, and a global pandemic on March 11, 2020. The WHO Strategic Preparedness and Response Plan outlines the public health measures that the international community stands ready to provide to support all countries to prepare for and respond to COVID-19.

The funds raised by the Coronavirus Global Response would be complementary to the WHO’s work and their appeal. The first iteration of the WHO Strategic Preparedness and Response Plan (SPRP) called for a total resource requirement of $675 million, of which $61.5 million were for WHO’s urgent preparedness and response activities for the period of February to April 2020. An updated plan will be launched in April and will identify significantly larger resource needs for country response, research and development and WHO itself.

The EU’s partnership with the WHO to respond to the COVID-19 is not new and will be reinforced via our current initiative. For example, the EU is already working with the WHO to supply medical devices and personal equipment such as ventilators, laboratory kits, masks, goggles, gowns, and safety suits.

Which countries were invited to take part in the initiative?

All countries, international organisations and foundations who have shown interest in fighting the COVID-19 have been invited to participate.

Will the fruits of the initiative only benefit countries that participate?

No, the objective of this pledging event is to speed up innovations and ensure access for all, irrespective of the geographical origin of funds. Pandemics can only be effectively controlled when solutions are deployed globally. The initiative aims to rally significant financial contributions to develop diagnostics, treatments and vaccines and secure a high-level political commitment to ensure equitable access to diagnostics, treatments and vaccines to make sure no-one is left behind.

How does this pledging event compare to and complement other international initiatives?

This is an integral part of the multilateral response to the COVID-19 emergency and is aligned with the logic of on-going UN appeals. It stems directly from G20 Leaders’ commitment, and the G20 Action Plan to provide immediate resources to key entities in the global health response.

The conference will focus on the quest for solutions that currently do not exist, first through R&D, then deployment (access to new solutions), whereas the UN system is primarily tackling other needs such as humanitarian assistance, mitigation of the socio-economic impacts and preparedness of health systems for future outbreaks.

Newsdesk

Reimagining Economies: The Move Towards a Digital, Sustainable and Resilient Future

Newsroom

Published

on

Under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, The Annual Investment Meeting, organized by theUAE Ministry of Economy, scheduled to be held from 20th to 22nd October 2020, under the theme “ Reimagining Economies: The Move Towards a Digital, Sustainable and Resilient Future.”

As the very first digital edition of the Annual Investment Meeting, AIM Digital will be the first mega digital event in the region to surmount the COVID -19 pandemic that will set a new benchmark for future virtual events in the UAE. It will utilize digital technology to create, showcase, and facilitate new investment opportunities for investors from different parts of the world, providing boundless possibilities across diverse sectors leading towards economic recovery, transformation, and sustainability.

To continue AIM’s mission of creating a roadmap to build a resilient future for the global economy despite the current pandemic, the three-day digital event will support and strengthen the investment environment and generate the most attractive and secure investment projects and opportunities for investors.

In this regard, His Excellency Abdullah bin Touq Al Marri, Minister of Economy, said: “The Annual Investment Meeting is an important global platform that brings together officials, experts, investors and major local, regional and international companies to exchange ideas and experiences and work together to develop the investment climate and link stakeholders to enhance development opportunities and come up with innovative solutions. The UAE has managed over the past years to consolidate its position as a pioneering and attractive investment destination for value-added projects, especially in the new economy sectors, and the country has also succeeded in developing its capabilities in planning and anticipating the future, and developing proactive solutions to enhance the resilience of its national economy in the face of global economic changes.

His Excellency added that the UAE government launched a comprehensive plan of 33 initiatives to support all economic sectors in the country and create a more flexible economic environment capable of generating diverse and sustainable opportunities, and encouraging investment in future sectors, especially digital transformation, advanced industries, applications of modern technology, research, development and innovation.” He said that the development of a digital model for a global platform for dialogue, such as the annual investment forum, is gaining great importance under the current circumstances and strengthens the country’s ability to review its future vision and promote the opportunities offered in its priority sectors to attract and attract investments to it through innovative means.

His Excellency Dr. Ahmad Belhoul Al Falasi, Minister of State for Entrepreneurship and Small and Medium Enterprises, said: “The UAE continues its pioneering role as a hub for trade, investment development and business activities, whether in its local markets or at the regional and global levels, and is confirmed today by launching the first digital version of the Investment Forum. Its ability to adapt to the changes in the economic landscape and find innovative solutions to various challenges, such as those that we are witnessing today as a result of the spread of the Covid-19 pandemic, which highlighted the importance of adopting new methods in economic activity, stressing that the establishment of the forum hypothetically at this huge level with the participation of 170 countries represents a new success story that reflects the readiness of the country’s economic and trade system to rapidly shift towards digital activities and adopt a more competitive, resilient and sustainable economic model.

Al Falasi added that the Annual Investment Meeting has provided over the past years a pioneering platform to support emerging companies and small and medium enterprises. His Excellency explained by saying: “We will work through this year’s edition of AIM to continue supporting and encouraging entrepreneurs and owners of small and medium enterprises by providing them with vital channels for communication with their counterparts in other participating countries to acquire new ideas and knowledge, exchange experiences and attend relevant exhibitions, as well as to establish partnerships and open new markets for their products and services, and this would immediately reflect on their commercial success and their ability to continue and expand. ”stressing that the transition to the digital model this year It will allow for wider participation from different countries of the world and will thus increase opportunities for cooperation and growth for entrepreneurs.

“This year’s Annual Investment Meeting, in its first digital edtion of its kind, is being held under unusual circumstances that the global economy is going through that requires intensifying dialogue and creating new links that support commercial and investment activities in various world markets.”He explained thatthe event will focus on discussing the countries and institutions efforts to provide new solutions and measures that support sustainability, business continuity and flexibility in facing various challenges. said His Excellency Dr. Thani Bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade.

His Excellency added: “Through this year’s edition of AIM, we will make sure to allow businessmen and capital owners to meet and conclude strategic agreements and partnerships, and to open new and vital channels for work in various investment fields, explaining that the forum’s agenda for this year will be rich in sessions, dialogues and digital exhibitions. Over the course of three days, and expressing optimism that the outcomes of this session will contribute to creating more creative ideas, initiatives and qualitative projects that represent an added value to international efforts in enhancing the global economic climate and preparing it for the post-Covid-19 phase.

AIM’s unique digital exhibition will be participated by Ministries and Government Departments, International and Regional Organisations, Investment Promotion Agencies, Special Economic Zones, Private Equities, Angel Investors, Venture Capitalists, Banking & Financial Institutions, International Investment Institutions, Startups, Incubators and Special Programmes, SME Financing Institutions, Smart City Solution Providers, and Technology Providers, among others, from more than 170 countries, which means even more abundant opportunities for economic productivity and expansion.

“We are all aware that the global economy has been severely affected by the COVID-19 pandemic. However, this global outbreak must not cause economic paralysis and impede recovery but must serve as a stimulus to persistently look for opportunities to surmount the challenges. Technology is one of the tools available to us that we need to take advantage of to fight the impact of pandemic, which is why AIM Digital was conceived. It is indeed a major initiative that brings innovation and investment opportunities together in one virtual platform for investors to fuel economic resilience and transformation” said Mr. Dawood Al Shezawi, the Head of the Organizing Committee of the Annual Investment Meeting.


Diverse topics have been meticulously discussed such as Economic Fallout of Covid 19 on Female Founders, Accelerating Technologies during Time of Crisis, Ensuring Food Security & Sustainability against Pandemic: Innovation and Business Opportunities of Agriculture in SMEs, Strengthening the Global Partnership in International Trade during Pandemic Crisis, Post-Pandemic Cities: What Will They Look Like, Business Opportunities of Agriculture in SMEs, The Vision From Investors in The Middle East, Urban Mobility: Road To Recovery And The Effectiveness Of Attracting FDI in The Times Of Crisis, Smart Cities Of The Future Workshop, Challenges For Agribusiness in Latin America And The Vision From Investors in The Middle East. Additionally, AIM Digital continues to offer interactive investment activities 365 days of the year to support the global investment community.

AIM Digital Features

Placing the spotlight on AIM’s six pillars – Foreign Direct Investment, Foreign Portfolio Investment, Small and Medium-sized Enterprises, Startups, Future Cities, and One Belt, One Road, AIM Digital will showcase different features that will extensively boost investment opportunities in various sectors.

Pre-Conference Workshop: Conducted by renowned industry experts from across the globe, this series of interactive professional coaching sessions have been tailor-made to enrich the experience of its participants and prepare them in finding lucrative opportunities for investment.

Conference: A platform where expert insights, best practices, and ideal investment policies are shared with participants. Leaders and specialists from the investment community will lead the virtual discussions to explore relevant topics about each of the six pillars of AIM.

Exhibition: Participated by the best local and international exhibitors across the globe, the Exhibition features different countries, smart city solution providers, startup companies, and SMEs, with the ultimate goal of achieving economic growth for their respective country and region.

Digital Country Presentation: It unveils the world’s best investment destinations by featuring every country’s key economic and investment environment features digitally. A platform for municipalities, cities, and countries to promote investment opportunities at their location and highlight the potential of their sector to prospective investors.

Startups Virtual Pitch Competition: An opportunity to present business ideas to a diverse array of global investors on the lookout for the next big thing. The winners of the start-up virtual pitch competition will compete for the National Champions League. Individual startups may register for the Global Technopreneurs.

Conglomerate Presentations: A virtual line up of Large Multi-Industry Groups keen on showcasing their investment roadmaps and key sectors of interest to an impressive panel of AIM investment promotion agencies, SMEs and government officials enthusiastic about making sustainable investments in their respective countries.

Awards: Recognizing the outstanding contributions of Investment Promotion Agencies, SMEs and Start-ups in bolstering and securing investment for a particular location. Awards will be presented to various investments made to regions and countries that have resulted in significant economic growth.

Investors’ Hub: Held within a digitally secured environment, a virtual meeting where top investors will have an audience with official government representatives to cultivate the formation of investment partnerships and collaboration.

Regional Focus Sessions: Centered on three regional conversations that examine the economic landscapes of Africa, Asia and Latin America, the discussions will be an informed exploration of the regions’ risks, challenges and opportunities for growth that are waiting to be harnessed through regional cooperation.

Made in Series: This viable digital feature is open to all SMEs who wish to showcase their local products and services to an international platform. Being a part of the series could help the participating country to promote their locally manufactured products or services, present value proposition to a focus global audience, and network with potential global partners for future collaboration.

Investment Roundtables:The investment roundtable feature of AIM 2020 is a gathering of Ministers, Deputy Ministers and Heads of Investment Promotion Agencies (IPAs), Investors and Decision Makers. The main objective of this feature is to facilitate a platform for government decision makers to discuss with investment companies to create a feasible investment model matching government and investor requirements. At the end of the sessions, a feasible investment model shall be developed.

Networking Features: A medium to strengthen business relationships and serve to the expansion of business portfolios. Vast features are conveniently available and accessible for ease of communication and networking on the platform.

The Annual Investment Meeting also plans to expand its footprint across the economic landscape as it gears up for its upcoming hybrid edition which will take place on March 21 – 23 followed by its Mega edition during EXPO2020, the World’s Greatest Show. The Hybrid Edition will be primed to feature massive investment opportunities from more than 170 countries, securing the highest return of investments for investors across the globe.

Furthermore, the Annual Investment Meeting is also delighted to launch its official e-magazine, Global Catalyst, which will serve as the global investment community’s no.1 digital source of the latest news, feature articles on trending topics, and critical analysis on fundamental issues affecting the investment environment, serving as a powerful catalyst for global economic growth. The Global Catalyst, is a quarterly digital publication that provides a captivating blend of news and features about the investment environment, as well as thorough analyses and research studies on major issues concerning the global economy. It also features success stories and in-depth interviews from prominent personalities in the global investment community to offer invaluable insights. In its first issue, Global Catalyst will give emphasis on its theme, “Rebooting the Future of Global Economy” which sparks the revitalising idea of starting anew, finding innovative methods and strategies, and building new perspectives in relation to the global economy.

Acknowledging the shift to the digital landscape and integrating technological advancements assists in developing smart, digital and sustainable nations as AIM Digital generates boundless possibilities towards economic recovery, transformation, and sustainability. 

For more information on AIM Digital, visit www.aimcongress.com

About the Annual Investment Meeting

The Annual Investment Meeting (AIM) is an initiative of the UAE Ministry of Economy, held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE, and Ruler of Dubai. AIM is the world’s leading investment platform with over 16,000 participants coming from more than 140 countries. Over 400 exhibitors and co-exhibitors, 60+ high-level dignitaries, 150+ investment specialists and experts have participated in AIM 2019.

Continue Reading

EU Politics

Green Deal: €1 billion investment to boost the green and digital transition

Newsroom

Published

on

The European Commission has decided to launch a €1 billion call for research and innovation projects that respond to the climate crisis and help protect Europe’s unique ecosystems and biodiversity. The Horizon 2020-funded European Green Deal Call, which will open tomorrow for registration, will spur Europe’s recovery from the coronavirus crisis by turning green challenges into innovation opportunities.

Mariya Gabriel, Commissioner for Innovation, Research, Culture, Education and Youth said: “The €1 billion European Green Deal call is the last and biggest call under Horizon 2020. With innovation at its heart, this investment will accelerate a just and sustainable transition to a climate-neutral Europe by 2050. As we do not want anyone left behind in this systemic transformation, we call for specific actions to engage with citizens in novel ways and improve societal relevance and impact.

This Green Deal Call differs in important aspects from previous Horizon 2020 calls. Given the urgency of the challenges it addresses, it aims for clear, discernible results in the short to medium-term, but with a perspective of long-term change. There are fewer, but more targeted, larger and visible actions, with a focus on rapid scalability, dissemination and uptake.

The projects funded under this call are expected to deliver results with tangible benefits in ten areas:

Eight thematic areas reflecting the key work streams of the European Green Deal:

  1. Increasing climate ambition
  2. Clean, affordable and secure energy
  3. Industry for a clean and circular economy
  4. Energy and resource efficient buildings
  5. Sustainable and smart mobility
  6. Farm to fork
  7. Biodiversity and ecosystems
  8. Zero-pollution, toxic-free environments

And two horizontal areasstrengthening knowledge and empowering citizens, which offer a longer-term perspective in achieving the transformations set out in the European Green Deal.

The €1 billion investment will continue building Europe’s knowledge systems and infrastructures. The call includes opportunities for international cooperation in addressing the needs of less-developed nations, particularly in Africa, in the context of the Paris Agreement as well as the Sustainable Development Goals (SDGs).

The deadline for submissions is 26 January 2021, with selected projects expected to start in autumn 2021.

A Horizon 2020 Green Deal Call Info Day & Brokerage event will take place as part of the virtual European Research & Innovation Days that will take place from 22-24 September 2020.

Background

The European Green Deal is the European Commission’s blueprint and roadmap to make Europe the first climate neutral continent by 2050, with a sustainable economy that leaves no one behind. 

To reach this 2050 goal, action will be required by all sectors of our economy, including:

  • investing in environmentally-friendly technologies;
  • supporting industry to innovate;
  • rolling out cleaner, cheaper and healthier forms of private and public transport;
  • decarbonising the energy sector;
  • ensuring buildings are more energy efficient;
  • working with international partners to improve global environmental standards.

Continue Reading

Newsdesk

Equal pay essential to build a world of dignity and justice for all

Newsroom

Published

on

The United Nations is marking the first ever International Equal Pay Day, on Friday, drawing attention to the gender pay gap – the difference between what a woman earns compared to a man, for work of equal value – and the systemic inequalities it is rooted in.  

Globally, despite decades of activism, and dozens of laws on equal pay, women still earn less than 80 cents for every dollar men do. For women with children, women of colour, women refugees and migrants, and women with disabilities, that figure is even lower. 

Women’s unequal status at work “feeds inequality” in other areas of their lives, UN Secretary-General António Guterres said in a message.  

“Women’s jobs are less likely to come with benefits like health insurance and paid time off. Even when women are entitled to a pension, lower salaries mean lower payments in their old age,” he said. 

Noting that equal pay laws have failed to address the problem, the UN chief called for greater effort to find solutions. 

 “We need to ask why women are relegated to lower-paid work; why professions that are female-dominated have lower salaries – including jobs in the care sector; why so many women work part-time; why women see their wages decrease with motherhood while men with children often enjoy a salary boost; and why women hit a ceiling in higher-earning professions,” he stressed. 

End harmful gender stereotypes 

Mr. Guterres also underlined the need to end harmful gender stereotypes and remove institutional barriers, as well as sharing family responsibilities equally. 

“We need to recognize, redistribute, and value the unpaid care work that is disproportionately done by women,” he urged. 

Such efforts are all the more urgent given signs that the gender pay gap may worsen due to COVID-19 and its fallout, including because so many women work in service, hospitality and informal sectors which have been hardest hit. 

“The COVID-19 pandemic has exploited and exposed inequalities of all kinds, including gender inequality. As we invest in recovery, we must take the opportunity to end pay discrimination against women,” said the Secretary-General. 

“Equal pay is essential not only for women, but to build a world of dignity and justice for all,” he underlined. 

Unequal pay a stubborn and universal problem 

According to UN Women, the UN Entity for Gender Equality and the Empowerment of Women, in spite of significant progress in women’s education and higher female labour market participation rates in many countries, closing the gender pay gap has been too slow. 

At the current pace, it could take 257 years to achieve economic gender parity. 

Women workers’ average pay is generally lower than men’s in all countries, across all sectors, for all levels of education, and age groups. While gender pay gap estimates can vary substantially across regions and even within countries, higher income countries tend to have lower levels of wage inequality compared to low and middle-income countries.  

However, estimates of the gender pay gap understate the real extent of the issue, particularly in developing countries, because of a lack of information about informal economies, which are disproportionately made up of women workers, so the full picture is likely worse than what the available data shows us, says the UN agency. 

The International Day 

The International Equal Pay Day, to be commemorated on 18 September annually, was established in 2019 by the UN General Assembly, which voiced deep concern over slow progress in women’s economic empowerment, the undervaluing of work traditionally held by women, and the difficulties in tackling pay inequality. 

The General Assembly urged action to reach the goal of equal pay for work of equal value for all, and encouraged all stakeholders to continue to support the goal of equal pay for work of equal value. 

Continue Reading

Publications

Latest

Defense38 mins ago

Why the “Coronavirus Ceasefire” Never Happened

Six months ago, when COVID-19 had just moved beyond the borders of China and embarked upon its triumphant march across...

Economy3 hours ago

Pandemic Recovery: Whitehouse – Check-In or Check-Out Times

Some 200 nations of the world are in serious economic pains of varying degrees; the images and narratives on social...

South Asia5 hours ago

Proxy War and the Line of Control in Kashmir

Who has not heard of the Vale of Cashmere, with its roses the brightest that earth ever gave.–Thomas Moore The...

Economy7 hours ago

How India can get its growth back on track after the coronavirus pandemic

The Covid-19 pandemic has led to exceptionally challenging times. World Bank projections suggest that the global economy will contract by 5.2% in...

Newsdesk8 hours ago

Reimagining Economies: The Move Towards a Digital, Sustainable and Resilient Future

Under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, The Annual Investment Meeting, organized by theUAE Ministry of Economy,...

Europe9 hours ago

EU acting a “civilian power”: Where & How

Authors: Yang Haoyuan, ZengXixi & Hu Yongheng* In 1946 when Winston Churchill addressed in Zurich, Switzerland, he called on urgent...

Africa11 hours ago

Nigeria’s Youth Face Growing Challenges

Nigeria is the most populous country in Africa. It has approximately 210 million population. Nigeria has the third-largest youth population...

Trending