The World Bank Group (WBG) discussed a new five-year Country Partnership Framework (CPF) from 2021 to 2024 and approved a $1.5-billion package to help build a resilient recovery post-COVID19.
Nigeria is at a critical juncture. With the sharp fall in oil prices as a result of COVID-19, the economy is projected to contract by over 4% in 2020, plunging the country into its deepest recession since the 1980s. Government revenues could fall by more than 15 billion dollars this year, and the crisis will push an additional 5 million Nigerians into poverty in 2020.
“This Country Partnership Framework will guide our engagement for the next 5 years in supporting the Government of Nigeria’s strategic priorities by taking a phased and adaptive approach,” said Shubham Chaudhuri, World Bank Country Director for Nigeria. “To realize its long-term potential, the country has to make tangible progress on key challenges and pursue some bold reforms. Our engagement will focus on supporting Nigeria’s efforts to reduce poverty and promote sustained private sector-led growth.”
The CPF will focus on four areas of engagement:
- Investing in human capital by increasing access to basic education, quality water and sanitation services; improving primary healthcare; and increasing the coverage and effectiveness of social assistance programs. Additional investments in promoting women’s empowerment and youth employment and skills, especially for young women, will also help reduce maternal and child mortality.
- Promoting jobs and economic transformation and diversification by supporting measures to unlock private investment and job creation and increasing access to reliable and sustainable power for households and firms. The CPF will also focus on boosting digital infrastructure, and developing economic corridors and smart cities, to provide Nigerians with improved livelihoods.
- Enhancing resilience by strengthening service delivery and livelihood opportunities in the Northeast and other regions grappling with insecurity, as well as modernizing agriculture and building climate resilience.
- Strengthening the foundations of the public sector by improving public financial management and strengthening the social contract between citizens and government through improved fiscal and debt management.
“A strong private sector is critical to support Nigeria’s economic growth and development. The Country Partnership Framework leverages the World Bank Group to enable business growth that is inclusive and sustainable,” said Kevin Njiraini, IFC Director for Southern Africa and Nigeria. “IFC will continue to support a broader private sector-led growth strategy to help Nigeria realize its immense potential by attracting more investment and creating millions of quality jobs for its growing population.”
Prepared jointly with the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA), this CPF proposes a collaborative approach of how resources across the entire Bank Group can best support the Government’s effort to achieve its goal to lift 100 million citizens out of poverty.
“To achieve sustainable post-COVID economic recovery, the country needs to strengthen reforms that support private sector solutions and crowd in private sector finance,” said Merli Baroudi, Director at MIGA for Economics and Sustainability. “In close coordination with the World Bank and IFC, MIGA will continue to expand its support for cross-border private investment into Nigeria”.
The World Bank Board of Directors also approved $1.5 billion for two projects, which include:
Nigeria Covid-19 Action Recovery and Economic Stimulus – Program for Results (Nigeria CARES): This program will help increase access to social transfers and basic services, as well as provide grants to poor and vulnerable households. It will also strengthen food supply chains for poor households while facilitating recovery and enhancing capabilities of MSMEs. This is financed through an International Development Association (IDA) credit of $750 million.
The State Fiscal Transparency, Accountability and Sustainability Program for Results (SFTAS) Additional Financing: Building on the progress made across 36 States, the original SFTAS program will be expanded and scaled up in response to COVID-19. The Additional Financing will help meet the financing gap in the Program Expenditure Framework, due to the sharp reduction in government revenues associated with the crisis. It will help increase the efficiency in spending, strengthen revenue mobilization, and enhance accountability and transparency in public resource management to further strengthen state-level COVID-19 response. The project is financed through an International Development Association (IDA) credit of $750 million.
The World Bank Group, one of the largest sources of funding and knowledge for developing countries, is taking broad, fast action to help developing countries strengthen their pandemic response. It is supporting public health interventions, working to ensure the flow of critical supplies and equipment, and helping the private sector continue to operate and sustain jobs.
The World Bank Group is making available up to $160 billion over a 15-month period ending June 2021 to help more than 100 countries protect the poor and vulnerable, support businesses, and bolster economic recovery. This includes $50 billion of new IDA resources through grants and highly concessional loans and $12 billion for developing countries to finance the purchase and distribution of COVID-19 vaccines.
EU boosts sustainable cocoa production in Côte d’Ivoire, Ghana and Cameroon
The European Union will contribute €25 million to enhance the economic, social and environmental sustainability of cocoa production in Côte d’Ivoire, Ghana and Cameroon who are, respectively, the first, second and fifth biggest cocoa producers, generating almost 70% of the world production. This funding strengthens the partnership between Team Europe (composed of the EU, its Member States, and European financial institutions) and the three cocoa producing countries and aims at ensuring a decent living income for farmers, halting deforestation and eliminating child labour.
Valdis Dombrovskis, Executive Vice-President for an Economy that Works for People, said: “The EU trade agenda is underpinned by EU values. By investing in programmes to promote fair trade and sustainability in the cocoa sectors of Côte d’Ivoire, Ghana and Cameroon, we are strengthening our trade and investment relationships for our mutual benefit. Building the social and environmental aspects of the cocoa supply chain will deliver further economic benefits for local farmers and cooperatives.”
Jutta Urpilainen, Commissioner for International Partnerships, said: “European consumers are demanding fair and environmentally sustainable products and producing countries committed to address sustainability issues in their cocoa value chains. It is time to make a real change and the EU is committed to play its part as an honest broker between economic operators, development partners, Côte d’Ivoire, Ghana and Cameroon.”
Following the launch event of the EU inclusive dialogue on sustainable cocoa, the “Cocoa Talks”, on 22 September 2020, today takes place the Cocoa Talks inaugural round-table webinar with the participation of EU public and private stakeholders and selected representatives of the two main producing countries, Côte d’Ivoire and Ghana. The objective of this dialogue is to enhance cooperation and coordination to support sustainable cocoa production in the framework of the Living Income Differential (LID) initiative, launched by the two producer countries to ensure decent revenue to local farmers.
The EU dialogue will be mirrored by similar dialogues at country level. Concretely, the €25 million will fund parallel multi-stakeholder dialogue events at national and regional level in Côte d’Ivoire, Ghana and Cameroon, involving government, private sector companies and civil society. It will improve the ability of farmers’ cooperatives and other bodies to represent local communities. It will train farmers on sustainability, tree replacement, reforestation, and ensure their awareness of child labour regulations.
Cocoa is a major contributor to export earnings, as well as the main source of livelihoods for almost seven million farmers in Côte d’Ivoire and Ghana. Indirectly, cocoa contributes to the livelihoods of further 50 million people. At the same time, cocoa production entails particular risks relating to child labour, low revenues for local farmers, deforestation and forest degradation.
The European Union is the world’s largest importer of cocoa, accounting for 60% of world imports. Côte d’Ivoire, Ghana and Cameroon are major suppliers of cocoa into the EU market, to which the first two have duty-free and quota-free access under their respective Economic Partnership Agreements.
In June 2019, Côte d’Ivoire and Ghana took an initiative on cocoa prices that led to an agreement with the cocoa and chocolate industry to create a Living Income Differential (LID) to ensure decent revenue to local farmers. At this stage, it is a US$400/ton premium paid beyond the price of the cocoa futures markets. Cameroon has expressed interest to join the initiative.
Building on this initiative and in line with its political priorities under the EU Green Deal and the Commission’s ‘zero tolerance’ approach to child labour, the EU engaged in a partnership with Côte d’Ivoire and Ghana to link this price increase to further action with respect to deforestation and child labour related to cocoa production.
It translated into an EU-based multi-stakeholder dialogue launched on 22 September 2020 with representatives from the EU institutions and Member States, civil society, private sector and Ivoirian and Ghanaian representatives to:
- Advance responsible practices of EU businesses involved in cocoa supply chains;
- Feed into other relevant horizontal Commission initiatives (e.g. on due diligence, deforestation);
- Feed into the policy dialogue between the EU and the producer countries; and
- Identify support projects on sustainable cocoa production.
Sudan: 250 killed, over 100,000 displaced as violence surges in Darfur
A sharp uptick in intercommunal violence in Sudan’s Darfur region has forced more than 100,000 people to flee their homes in search of safety, including many into neighbouring Chad, the UN refugee agency (UNHCR) reported on Friday.
According to the agency, 250 people – including three humanitarian workers – also lost their lives in the clashes that started on 15 January in West Darfur province, and spread into South Darfur the next day.
“These refugees – the majority of them women and children – have been hosted in four very remote locations that lack basic services or public infrastructure, where they have been sheltering under trees,” he said.
“Due to the COVID-19 situation, Chadian local authorities are directing the new arrivals to a transit site, where they will undergo quarantine before being relocated to an existing refugee camp, away from the border,” the UNHCR spokesperson added.
He said that the UN agency is rushing supplies to the area to respond to their needs, as well as mobilizing resources as part of an inter-agency response.
‘Break the cycle of violence’
Authorities in the region have been attempting to contain the situation and have deployed security forces to the area but “severe gaps” in protection remain, according to the UN human rights office.
However, an “imminent risk” of further violence remains, in an environment “where decades-old ethnic and tribal tensions that were further stoked by the previous regime continue to fester”, OHCHR spokesperson Ravina Shamdasani said at the same briefing.
There are reports that local health facilities are unable to cope with the high number of casualties, she added.
The OHCHR spokesperson called on the Government of Sudan to protect of civilians as well as restore public order and the rule of law in Darfur.
She also called for thorough and effective investigations into the violence to bring the perpetrators to justice and “to break the cycle of armed citizens taking the law into their own hands to avenge attacks on members of their communities.”
A vast, strife-torn region
Darfur, a vast region roughly the size of Spain and plagued by violence for years, was the site of a United Nations-African Union hybrid peacekeeping mission (UNAMID) that was deployed to protect civilians, facilitate aid delivery, and support efforts to address root causes of the conflict.
The mandate of UNAMID ended last year and it ceased operations on 31 December 2020, roughly two weeks before the latest round of violence.
The mission is currently drawing down, a process that includes repatriation of troops, their vehicles and other equipment; the separation of civilian staff; and the closure of its offices.
COVID ‘vaccine hoarding’ putting Africa at risk
Africa is in danger of being left behind in the rollout of COVID-19 vaccines as countries in other regions strike bilateral deals, thus driving up prices, the World Health Organization (WHO) warned on Thursday.
Although vaccines have been administered in 50 wealthier nations, Guinea is the sole low-income country on the continent to receive doses, with only 25 people being inoculated so far. Meanwhile, Seychelles is the only African country to start a national vaccination campaign.
‘We first, not me first’
“We first, not me first, is the only way to end the pandemic. Vaccine hoarding will only prolong the ordeal and delay Africa’s recovery. It is deeply unjust that the most vulnerable Africans are forced to wait for vaccines while lower-risk groups in rich countries are made safe”, said Dr Matshidiso Moeti, WHO Regional Director for Africa.
“Health workers and vulnerable people in Africa need urgent access to safe and effective COVID-19 vaccines.”
An international coalition known as the COVAX Facility was established to ensure all countries will have equal access to any vaccines against the new coronavirus disease.
It is co-led by the Coalition for Epidemic Preparedness Innovations (CEPI), Gavi, the Vaccine Alliance, and WHO.
The COVAX Facility has secured two billion doses of vaccine from five producers, with options for over one billion more. Delivery is set to begin soon, according to Thabani Maphosa, Managing Director, Country Programmes at GAVI.
“This massive international undertaking has been made possible thanks to donations, work towards dose-sharing deals and deals with manufacturers that have brought us to almost two billion doses secured. We look forward to rollout in the coming weeks”, he said.
COVAX has committed to vaccinating at least 20 per cent of the population in Africa by the end of this year.
Priority will be given to health workers and other vulnerable groups, such as older persons and those with pre-existing health conditions.
An initial 30 million vaccine doses are expected to begin arriving in countries by March. Overall, a maximum of 600 million doses will be disbursed, based on two doses per person.
WHO said timelines and quantities could change, for example if vaccines fail to meet regulatory approval or due to challenges related to production, delivery and funding.
The Mystery of China’s Internment Camps: Genocide of Uighurs
Human rights abuse is not an alien concept to the world, especially over the ghastly events posted through the two...
The mistakes of U.S. foreign policy
A few days ago, in a conversation with one of the former protagonists of U.S. foreign policy, in response to...
EU boosts sustainable cocoa production in Côte d’Ivoire, Ghana and Cameroon
The European Union will contribute €25 million to enhance the economic, social and environmental sustainability of cocoa production in Côte...
Iran’s Position on Karabakh War: Tehran Competes for the Hearts of Azerbaijanis
This article focuses on the Iranian official position on the latest escalations of Artsakh (Karabakh) war which started in the...
Sri Lanka: ‘Forced’ cremation of COVID victims’ bodies must stop
The Sri Lankan Government should end its policy of compulsorily cremating victims of COVID-19, independent UN human rights experts said on Monday. In a...
Pulwama attack: False Flag Operation?
On 14 February 2019, a terror attack killed 40 Indian soldiers at Pulwama, Jammu and Kashmir (IOK). The unfortunate incident...
Shining a light on sexually exploited women and girls forced into crime
Trafficked and sexually exploited woman and girls can find themselves facing prosecution and conviction for those very same crimes, in...
Defense3 days ago
Pakistan Army’s Ranking improved
Diplomacy3 days ago
India-made Covid vaccines open a new chapter in New Delhi’s continuing medical diplomacy
Intelligence2 days ago
The role of maritime power
South Asia3 days ago
Hambantota: The Growing Nightmare For India
Americas3 days ago
The 4 groups of Senate Republicans that will decide Trump’s impeachment trial
Defense2 days ago
The Proxy War of Libya: Unravelling the Complexities
Tourism3 days ago
Opportunities for Women in Tourism Increasing Across Middle East
Russia2 days ago
Russia is a part of Europe, which never became a part of Russia