Developing-8 ((D-8), is an organization for development cooperation among the following countries: Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan, and Turkey. The establishment of D-8 was announced officially through the Istanbul Declaration of Summit of Heads of State/Government on June 15, 1997.
The objectives of the D-8 Organization for Economic Cooperation are to improve member states’ position in the global economy, diversify and create new opportunities in trade relations, enhance participation in decision-making at the international level, and improve standards of living.
D-8 is a global arrangement rather than a regional one, as the composition of its members reflects. Organization for Economic Cooperation (D-8) is a forum with no adverse impact on bilateral and multi-lateral commitments of the member countries, emanating from their membership to other international or regional organizations.
Ambassador Isiaka Abdulqadir Imam from Nigeria is currently the Secretary General of the D-8 Organization with its Secretariat based in Istanbul-Turkey.
Idea Behind D-8 Establishment:-
The idea of cooperation among major Muslim developing countries was mooted by Prof. Dr. Necmettin Erbakan, the then Prime Minister of the Republic of Turkey, during a Seminar on “Cooperation in Development” which was held in Istanbul in October 1996. The group envisioned cooperation among countries stretching from South East Asia to Africa. Representatives from Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, and Pakistan attended the Seminar. This conference was the first step towards the establishment of D-8 and it was only after a series of preparatory meetings that D-8 was set up officially and began its activities with the Istanbul Declaration issued at the end of the summit of Heads of State and Government held in Istanbul on June 15, 1997.
Pakistan is active in D-8:-
Minister of State for Foreign Affairs, Ms. HinaRabbani Khar, called for creating a Private Sector Coordination Facility to boost economic cooperation amongst the Developing-Eight (D-8) countries. The Minister of State spoke virtually to the 20th Session of the D-8 Council of Foreign Ministers, hosted by Bangladesh today in a hybrid format.
The Minister of State called for creating a conducive environment for trade through facilitative legal frameworks, and equal opportunities for investment and business. She underscored that Pakistan’s vision of geo-economics had socio-economic growth, connectivity, and development at its core. Through cooperation and partnerships, the D-8 countries can realize their true economic potential. The Minister of State highlighted that Pakistan’s location afforded critical overland and maritime connectivity to key regions of Asia – Central Asia, South Asia, the Middle East, and China – that made Pakistan geo-politically among the most pivotal states in the world. We were confident that through the China-Pakistan Economic Corridor (CPEC), this geo-political asset will rapidly turn into a geo-economic dividend, she underlined.
The Foreign Minister of Bangladesh, in his capacity as the Chair of the Council of Ministers, presided over the meeting. Foreign Ministers of Türkiye and Iran, and Minister of State of Nigeria, alongside senior officials from Egypt, Indonesia, and Malaysia, also participated in the meeting.
The Council meeting was preceded by the 45th Session of the D-8 Commission which adopted a series of major decisions building on the progress achieved. One of the key decisions taken by the Council was to fully operationalize the Preferential Trade Agreement by 31 October 2022 with a view to achieving the intra-D-8 trade target of US $500 billion agreed under the Decennial Road Map 2020-30.
In recognition of the role of trade in enhancing meaningful economic cooperation, and promoting financial and payment systems, the meeting also agreed to operationalize within the next two years, the D-8 Payment Card system, D-8 Clearing House, D-8 Qualified Industrial, and Economic Zones, D-8 Creative Economy and Financial Center, D-8 Halal Food Sector Cooperation, and D-8 Barter Trading System.
The Ministers agreed on the need to enhance financial and human resources for the D-8 Secretariat. The meeting also tasked the Secretariat to further review project proposals for financial support by the D-8Member States.
The Meeting acknowledged with appreciation the desire of the Republic of Azerbaijan to become a member of the D-8. The Ministers agreed to hold a Special Session of the D-8 Commission in October this year to make final recommendations with regards to the criteria for the accession of new Member States to the D-8. A report to this effect will be considered for adoption by the next Council of Ministers Session.
The D-8 Group, established in Istanbul on 15 June 1997, includes Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan, and Turkey. The Year 2022 marks the Twenty-Fifth Anniversary of the establishment of D-8.
Mosul’s recovery moves towards a circular economy
Five years since the end of the ISIL(so-called Islamic State in Iraq and the Levant) conflict in 2017, the International Organization for Migration (IOM) in Iraq and the UN Environment Programme (UNEP), with funding from the Government of Japan, has established a debris recycling centre in Mosul. After its initial use, the centre has now been handed over to Mosul Municipality for its continued, sustainable operation.
“On behalf of the Iraqi Government, the Ministry of Environment expresses its gratitude to the Government of Japan for generously supporting this important project and to UNEP and IOM for enabling the sustainable management of the huge quantities of conflict debris and restabilization of the liberated areas in an environmentally sustainable manner,” said Iraq’s Minister for Environment, Dr. Jasim Abdulazeez Humadi.
The handover of the Mosul debris recycling centre marks a significant step in the sustainable management of the huge volumes of debris — an estimated 55 million tonnes — created by the ISIL conflict. It also opens the way for the recycling of routine construction and demolition waste, contributing to ‘building back better’ and an increased circularity in Iraq’s development.
UNEP West Asia Regional Director, Sami Dimassi, emphasized that “by reducing waste, stimulating innovation and creating employment, debris recycling also creates an important business opportunity.” Indeed, construction companies in Mosul have expressed interest in purchasing the recycled aggregate, thereby underscoring the longer-term sustainability of debris recycling.
“This project supports recovery and livelihoods by drawing on principles of a circular economy, wherein waste and land pollution is limited through production processes that reuse and repurpose materials for as long as possible,” explained IOM Iraq Chief of Mission, Giorgi Gigauri. “Collaboration and sustainability are key priorities in IOM’s work toward durable solutions to displacement, and we are pleased to have partnered with UNEP and the Government of Japan so that this is represented not only in the function of the plant itself, but also in its functioning, by supporting local authorities to be prepared to effectively operate the plant moving forward.”
On 28 July 2022, Mosul Municipality hosted an event to officially hand over the debris recycling centre, attended by senior government officials and academia, as well as representatives from IOM, UNEP and the United Nations Assistance Mission for Iraq (UNAMI).
Masamoto Kenichi, Charge d’Affaires, Embassy of Japan to Iraq stated: “We are glad to know that the project funded by the government and people of Japan has contributed to cleanup of debris and reconstruction of Mosul. We would like to commend UNEP, IOM and the city of Mosul for their tremendous efforts of turning the legacy of ISIL’s devastation into building blocks of reconstruction”.
Through the rubble recycling project, nearly 25,000 tonnes of debris have been recovered and sorted, of which around half was crushed into recycled aggregate. Material testing of the recycled aggregate endorsed by the National Center for Structural Tests of the Ministry of Planning confirms its compliance with the Iraqi State Commission for Roads and Bridges design standards for road foundational layers and its suitability for several low strength end-use applications such as concrete blocks and kerbstones.
The project created 240 much-needed jobs through cash-for-work schemes targeting vulnerable persons, including 40 women.
Building on this experience, IOM has set up two other debris recycling operations in Sinjar and Hamdaniya in Ninewa Governorate, and a third in Hawija in Kirkuk Governorate, where a pilot phase using a mobile crusher was implemented in al-Buwaiter Village in 2021. In addition, two other conflict-affected governorates — namely Salah al-Din and Anbar — have also shown a high-level of interest in replicating and scaling up debris recycling in their own regions.
UNEP has been supporting Iraq in cleaning up the huge volumes of debris created by the ISIL conflict since June 2017. Initially, this included carrying out technical assessments and planning workshops with UN-Habitat, and subsequently designing and implementing debris recycling pilot projects to support returns in Mosul, Kirkuk and other conflict-affected areas in cooperation with IOM.
Digital Futures: Driving Systemic Change for Women
Authors: Erin Watson-Lynn and Tengfei Wang*
As digital technology continues to unlock new financial opportunities for people across Asia and the Pacific, it is critical that women are central to strategies aimed at harnessing the digital financial future. Women are generally poorer than men – their work is less formal, they receive lower pay, and their money is less likely to be banked. Even when controlling for class, rural residency, age, income, and education level, women are overrepresented among the world’s poorest people in developing countries. Successfully harnessing digital technology can play a key role in creating new opportunities for women to utilise formal financial products and services in ways that empower them.
Accelerating women’s access to the formal economy through digital innovations in finance increases their opportunity to generate an income and builds resilience to economic shocks. The recently issued ESCAP guidebook titled, Harnessing Digital Technology for Financial Inclusion in the Asia Pacific, highlights the fact that mechanisms to bring women into the digital economy are different from those for other groups, and that tailored policy responses are important for women to fully realise their potential in the Asia-Pacific region.
Overwhelmingly, the evidence tells us that how women utilise their finances can have a beneficial impact on the broader community. When women have bank accounts, they are more likely to save money, buy healthier foods for their family, and invest in education. For women who receive Government-to-Person (G2P) payments, there is significant improvement in their lives across a range of social and economic outcomes. Access to safe, secure, and affordable digital financial services thus has the potential to significantly improve the lives of women.
Despite the enormous opportunity, there are numerous constraints which affect women’s access to financial services. This includes the gender gap in mobile phone ownership across Asia and the Pacific, lower levels of education (including lower levels of basic numeracy and literacy), and lower levels of financial literacy. This complex web of constraints means that country and provincial level diagnostics are required and demands agile and flexible policy responses that meet the unique needs of women across the region.
Already, across Asia and the Pacific, governments are implementing innovative policy solutions to capture the opportunities that come with digital finance, while trying to manage the constraints women often face. The policy guidebook provides a framework to examine the role of governments as market facilitators, market participants and market regulators. Through this framework, specific policy innovations drawn from examples across the region are identified which other governments can adapt and implement in their local markets.
A good example of how strategies can be implemented at either the central government or local government levels can be found in Pakistan. While central government leadership is important, embedding tailored interventions into locally appropriate strategies plays a crucial role for implementation and effectiveness. The localisation of broader strategies needs to include women in their development and ongoing evaluation. In the Khyber Pakhtunkhwa province, 50,000 beneficiary committees comprising local women at the district level regularly provide feedback into the government’s G2P payment system. The feedback from these committees led to a biometric system linked to the national ID card that has enabled the government to identify women who weren’t receiving their payments, or if payments were fraudulently obtained by others.
In Cambodia and the Philippines, governments have implemented new and innovative solutions to support remittance payments through public-private-partnerships and policies that enable access to non-traditional banks. In Cambodia, Wing Money has specialised programs for women, who are overwhelmingly the beneficiaries of remittance payments. Creating an enabling environment for a business such as Wing Money to develop and thrive with these low-cost solutions is an example of a positive market intervention. In the Philippines, adjusting banking policies to enable access to non-traditional banking enables women, especially those with micro-enterprises in rural areas, to access digital products.
While facilitating participation in the market can yield benefits for women, so can regulating in a way that drives systemic change. For example, in Lao People’s Democratic Republic and India, different mechanisms for targets are used to improve access to digital financial products. In Lao People’s Democratic Republic, the central government through its national strategy, introduced a target of a 9 per cent increase in women’s access to financial services by 2025. In India, their targets are set within the bureaucracy to incentivise policy makers to implement the Digital India strategy and promotions and job security are rewarded based on performance.
These examples of innovative policy solutions are only foundational. The options for governments and policy makers at the nexus of market facilitation, participation and regulation demands creativity and agility. Underpinning this is the need for a baseline of country and regional level diagnostics to capture the diverse needs of women – those who are set to benefit the most of from harnessing the future of digital financial inclusion.
*Tengfei Wang, Economic Affairs Officer
This article is the second of a two-part series based on the findings of the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) Policy Guidebook: Harnessing Digital Technology for Financial Inclusion in Asia and the Pacific, and is jointly prepared by ESCAP and the Griffith Asia Institute.source: UNESCAP
Empowering women-led small businesses in Nepal to go digital
Authors: Louise Anne Sophie Lavaud and Mitch Hsieh*
Throughout the years, Laxmi Shrestha and her husband saw the opportunities that opening an online shop could bring to her family business.
“Looking at the trend of TikTok and other sites, we thought selling online could help us but we weren’t technically sound,” said Laxmi, the owner ofLaxmi Hastakala Store, in Banepa, Nepal, and part of a family of artisans.
As she learned about selling online, she picked up on how to market her shop digitally and, according to Laxmi: “It has surely given our business a push we always wanted. Recently we started selling our products online and we also receive payments online.”
Laxmi Hastakala Store is among the 1,800 women-led micro, small and medium enterprises (MSMEs) in Nepal being trained on digital and financial literacy by Sparrow Pay – one of the winners of the Women Fintech MSME Innovation Fund launched in 2019 by the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) and the United Nations Capital Development Fund (UNCDF).
Sparrow Pay has created a local digital marketplace where women-led MSMEs can offer products and services to its existing 800,000+ digital payment service users. Additionally, Sparrow Pay is supporting these women entrepreneurs in adopting digital payments and creating a payment history to support access to additional financial services.
MSMEs are a vital source of employment and a significant contributor to a country’s GDP. However, more than 45 per cent of MSMEs in Asia and the Pacific are constrained from accessing finance and other support for their businesses. Socio-cultural norms mean women-led enterprises have to overcome gender-specific barriers to access institutional credit and other financial services.
ESCAP and UNCDF aim to encourage easy access to digital finance for MSMEs in Asia and the Pacific, break the financial barriers surrounding women-led enterprises and support entrepreneur-centric growth and inclusiveness throughout the region. Initiatives by the 10 winning fintech companies are currently supporting more than 9,000 women-led MSMEs in Bangladesh, Cambodia, Fiji, Myanmar, Nepal, Samoa and Viet Nam.
Just like Laxmi, these women business owners plan on successfully growing their companies in the digital area.
The Women Fintech MSME Innovation Fund is part of a regional programme “Catalyzing Women’s Entrepreneurship: Creating a Gender-Responsive Entrepreneurial Ecosystem,” which seeks to support the growth of women entrepreneurs in Asia and the Pacific by enabling a policy environment for such business owners, providing them with access to finance and expanding the use of ICT for entrepreneurship.
*Mitch Hsieh Chief, Communications and Knowledge Management Section
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