Financing for Development Conference

Addis Ababa: Financing for Development

Trade Union position on Financing for Development

The FfD agenda is an important reference point for discussions on development finance, and serves as a unique space where governments, in particular from the South, are able to debate important issues like trade and foreign direct investment as well as systemic issues like the international financial architecture and financial regulation. These are the global economic issues that were absent in the origin and overall framework of the Millennium Development Goals and remain piecemeal in the proposed Sustainable Development Goals (SDGs) framework.

Illicit financial flows and development indices: 2008–2012

Washington: Illicit financial flows, stemming from crime, corruption, and tax evasion, have an outsized impact on the world’s poorest countries, according to a new study released by Global Financial Integrity (GFI), a Washington, DC-based research and advisory organization.

Tobacco taxes too effective to overlook in financing for development

New York: Governments are in the midst of tough talks in New York over the text of the Addis Ababa Accord, which is scheduled to be adopted at the end of the Third Conference on Financing for Development (FfD) , to be held in Ethiopia in July.  However at last report, negotiators continued to downplay a powerful mechanism that governments could use to help achieve and finance the Sustainable Development Goals (SDGs) that will replace the Millennium Development Goals (MDGs) in September: tobacco taxes.

The DATA Report 2015: putting the poorest first

2015 is a year that will shape the course of history. A new set of Global Goals – the Sustainable Development Goals – will be launched in September, which will set out the path to a fairer, more prosperous world and an end to extreme poverty.  But goals alone are not enough – they need a clear plan of action and the resources to deliver it. In mid-July, governments will convene for the Third International Conference on Financing for Development in Addis Ababa, Ethiopia: this will be the pivotal point of the year.

Secretary-General appoints High-Level Panel on Humanitarian Financing

New York: One of the most important challenges facing the humanitarian system today is the growing gap between the increasing numbers of people in need of assistance and sufficient resources to provide relief.  Over the last decade, the demand for humanitarian aid has risen dramatically. The number of people in need has more than doubled since 2004 to over 100 million today, and current humanitarian funding requirements for 2015 stand at $19.1 billion, up from $3.4 billion in 2004.

African countries urged to pay attention to domestic resource mobilization

Abidjan: African countries have been asked to look within themselves to mobilize resources for development because the resources are available. During “The Future of Financing for Development in Africa” session at the 50th Annual Meeting of the African Development Bank in Abidjan, Côte d’Ivoire, Monday, May 25, 2015, two of the speakers reiterated the need for African countries to develop the capacity to mobilize resources locally instead of looking to raise financing for development from outside their countries.

The United Nation’s new app to track huge illicit cash transfers

Nairobi:  Kenya could soon get a breakthrough in monitoring the movement of illegal cash shipped out of the county by multinationals through a new tracking tool developed by the United Nations. The new application could see Kenyans follow all international payments exceeding a specified threshold on the Illicit Financial Flow Web tracker developed by the UN’s Economic Commission for Africa (ECA).  The commission is based in Addis Ababa, Ethiopia.

AfDB taps BRIC states for agriculture funds

Nairobi: The African Development Bank is seeking support from Brazil, China and India to promote its 2015-2019 investment strategy in agriculture infrastructure projects, its director of agriculture Chiji Ojukwuo said on Friday.  He said the three who are members of BRICS which brings together five major emerging economies have proved to be key players in Africa's development plan and AfDB views them as new strategic bilateral partners. Other members of BRICS are Russia and South Africa.

Africapitalism as a catalyst for development in Africa

Oxford: Today is a continuation of a conversation I started in November 2014 with a piece in The Economist where I declared that 2015 would be ‘The Year of the African Entrepreneur’ and backed it up in December by launching the $100 million Tony Elumelu Entrepreneurship Programme, also known as TEEP. This programme is identifying and providing mentoring, training, networking, and funding for 1,000 African start-ups per year for the next ten years.

African Economic Outlook 2015

Abidjan: With Africa’s population set to triple by 2050, modernising local economies will be vital to make the continent more competitive and to increase people’s living standards, according to the African Economic Outlook 2015, released at the African Development Bank Group’s 50th Annual Meetings.

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