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Add to Preferred SourcesFloods in Somalia, children in northeast Syria, World Bank and Global Fund partnership and TERNA ENERGY green bond. Here is what you missed from last week’s headlines in the international development sector:
Floods force thousands from their homes in Somalia
Flooding linked to heavy rainfall along Somalia’s two major rivers, the Shabelle and the Juba, has affected thousands of people. By 21 October the floods had displaced 72,000 from Belet Weyne town, one of the worst-affected areas.
OCHA is working with local authorities and humanitarian partners to scale up response.
The Humanitarian Response Plan for Somalia, seeking $1.08 billion to assist 3.4 million people in need, is 69 percent funded.
UNICEF update on the humanitarian situation for children in north east Syria
The latest estimates put the number of children displaced since 9 October at 80,000.
Water supply to Al-Hasakeh city restarted thanks to repairs conducted by local partners to the electric power supply at the Allouk water pumping station. 16,000 liters of fuel provided by UNICEF are now at the station and will be used to power a generator if electricity is cut off again.
Al’louk water station – which normally provides water to 400,000 people, is currently functioning at 50 percent of its normal capacity. Electricity needs to be restored to the boreholes in order for them to function. UNICEF will support partners in work to restore these 15 boreholes as soon as we can get to them.
World Bank and Global Fund deepen partnership with co-financing agreement
The World Bank and the Global Fund have signed a co-financing framework agreement to accelerate efforts by countries to end HIV, tuberculosis and malaria and build sustainable systems for health.
The framework agreement outlines a new approach for joint financing of investment-type operations between the two organizations, as well as results-based financing.
In recent years, the Global Fund and the World Bank have signed multiple innovative finance agreements, such as a loan buy-down for a program to fight tuberculosis in India, a performance-based funding project in the Democratic Republic of Congo and a Multi-Donor Trust Fund for Indonesia and Sri Lanka. The framework agreement is expected to reduce transaction costs and lays the foundation for a deeper partnership with the aim of increasing impact.
“Partnership is in the Global Fund’s DNA, and our work with partners such as the World Bank will accelerate the fight to end the epidemics,” said Peter Sands, Executive Director of the Global Fund. “Innovative financing mechanisms can play a significant role in improving the effectiveness of our investments and in pursuing new financial opportunities to increase impact.”
“Improving access to health services reduces financial hardship for families, improves their health outcomes and builds the human capital of societies,” said Annette Dixon, Vice President for Human Development at the World Bank. “Working in partnership and unlocking new models for health financing is key to better serve our client countries and ensuring affordable, quality health care for all.”
EBRD invests €18 million in TERNA ENERGY’s green bond
The EBRD is stepping up its efforts to support renewables in Greece by supporting TERNA ENERGY with an €18 million investment in the Greek company’s successful issuance of a seven-year €150 million green bonds.
The funds will finance additional investments in renewable energy projects in Greece. The projects will also contribute to the country’s target of increasing the share of renewable energy to 35 percent of its total energy consumption by 2030.
The investment is part of the EBRD’s Greek Corporate Bonds Framework, developed to extend the Bank’s support for the local corporate bond market and to strengthen its long-term viability.
Here’s what else has happened
EIB, CDB: The European Investment Bank (EIB) and the Caribbean Development Bank (CDB) have signed a new agreement to deliver better support for climate resilient projects across the region.
EU humanitarian assistance: As many continue to suffer from the ongoing conflict in Libya, the European Commission has announced €2 million in additional humanitarian aid to help those most in need. The assistance will cover emergency healthcare services, food, livelihood support and protection services.
EIB: The European Investment Bank (EIB) will provide EUR 100m to Banco de Desenvolvimento de Minas Gerais (BDMG) to support climate action projects in this Brazilian state.
Reports
Despite dangers, majority of irregular migrants from Africa to Europe would still travel: UNDP report
Irregular migrants who made the fraught journey from Africa to Europe would do so again despite knowing the dangers of the trip. Some 93 percent of almost 2,000 irregular migrants surveyed experienced danger on their journey, but only two percent said that greater awareness of the risks would have caused them to stay home.
Read and download the report: Scaling Fences: Voices of Irregular African Migrants to Europe.
Four regional development banks launch joint report on livable cities
Rapid urbanisation has provided most cities in the world with opportunities to provide more sustainable, vibrant, and prosperous centres for their citizens. But they must first address challenges such as inadequate infrastructure investments, pollution and congestion, and poor urban planning, according to a new report.
The report, Creating Livable Cities: Regional Perspectives, looks at urbanisation trends across emerging and developing economies in Africa; Asia and the Pacific; emerging Europe, Central Asia and the Southern and Eastern Mediterranean; and Latin America and the Caribbean. It is a joint publication by four regional development banks (RDBs) operating in these regions—African Development Bank (AfDB), Asian Development Bank (ADB), European Bank for Reconstruction and Development (EBRD), and Inter-American Development Bank (IDB).
Read and download the report: Creating Livable Cities: Regional Perspectives.
Governments worldwide launched 294 reforms over the past year to make doing business easier
Governments of 115 economies around the world launched 294 reforms over the past year to make doing business easier for their domestic private sector, paving the way for more jobs, expanded commercial activity, and higher incomes for many, according to the World Bank Group’s Doing Business 2020 study.
This latest edition of the study documents reforms implemented in 10 areas of business activity in 190 economies over a 12-month period ending May 1, 2019. Business-friendly environments are associated with lower levels of poverty, and improved regulatory efficiency can stimulate entrepreneurship, startups, innovation, access to credit, and investment. The study is the 17th in an annual series that evaluates regulations enhancing or constraining business activity for small and medium-size enterprises.
Read and download the World Bank Group’s Doing Business 2020 study.
Events
International Green Finance Conference 2019
Budapest, Hungary
14-15 November 2019
The Hungarian National Bank (MNB) and the European Bank for Reconstruction and Development (EBRD) will conduct the International Green Finance Conference.
The event will cover themes such as the role of central banks in managing climate risks, emerging prospects of credit institutions in green lending and new types of environmentally and socially responsible investment opportunities.
Africa Industrialization Week 2019
Addis Ababa, Ethiopia
18-22 November 2019
The Africa Industrialization Day (AID), represents a unique platform to enhance international cooperation and dialogue on the pan-African industrialization agenda and to raise awareness of the opportunities and challenges associated with this innovation drive.
Every year it gathers African leaders, policymakers, and representatives of the private sector, academia, international financial institutions (IFIs) and development partners to showcase the continued relevance of industry, including manufacturing production, as a powerful engine to build the Africa we want as underlined in Agenda 2063.
Renewable Energy Outlook Conference
Istanbul, Turkey
31 October 2019
The EBRD and the Atlantic Council in Turkey are jointly holding a high-level conference on the renewable outlook for Turkey and the broader region.
The conference will discuss the latest developments in the renewable energy sector in Turkey and the countries in Central Asia, Caucasus and the Western Balkans and will engage with the public and private sectors to brainstorm strategies to improve project financing conditions, regulations, support schemes, the integration of renewables in electricity systems, the development of new technologies, and the investment environment.