News Selection – Finance for Sustainable Development
Recent news chosen to update Tread Softly briefings on Finance for Sustainable Development.
New aid figures reveal 'incredible lack of ambition' from donors
11/4/2018: Preliminary data for 2018 paints a worrying picture in which bilateral assistance to least-developed countries fell 3% from 2017, aid to Africa was down 4%, and humanitarian aid dropped 8%. Source: Devex
Crisis deepens as global South debt payments increase by 85%
3/4/2019: Figures released by the Jubilee Debt Campaign, based on IMF and World Bank databases, show that developing country debt payments increased by 85% between 2010 and 2018.
Source: Jubilee Debt Campaign
Development finance institutions grapple with their growing role
19/3/2019: Development finance institutions have gained prominence, as the role of the private sector has been accepted, and because their work can be put in direct service of meeting the Sustainable Development Goals. Source: Devex
USAID launches new private sector engagement policy
13/12/2018: The US Agency for International Development has launched a new private sector engagement policy designed to change the culture and operations of the organization as it works to help countries develop. Source: Devex
Big business capturing UN SDG agenda?
11/12/2018: The UN has increasingly embraced the corporate sector, most recently to raise finance needed to achieve the Sustainable Development Goals. Does this engagement compromise the Goals? Source: Inter Press Service
How can we rate aid donors?
21/11/2018: Two recent assessments of aid donors used radically different approaches – a top down technical assessment of aid quality, and a bottom up survey of aid recipients. The differences between their findings are interesting.
Source: From Poverty to Power
Germany, Netherlands back Niger border force to counter migration
2/11/2018: Germany and the Netherlands have pledged to fund special forces in Niger to control its border and prevent illegal migration. Niger is a transit country for thousands of migrants trying to reach Europe. Source: News24
Tread Softly Comment: This is the trending goal of contemporary foreign aid. Less poverty reduction, infrastructure or governance in the fragile state; more border police to protect Europe. Relevant Briefing: Aid Politics
Time to make aid transparency actionable, says new campaign chief
11/10/2018: The new CEO of a major aid transparency group says the movement needs to change its ways, and make its data more user-friendly to encourage civil society groups to hold donors to account. Source: Devex
African governments’ debt payments double in just two years
8/10/2018: A new briefing shows that the private sector is the largest source of loans to African countries, accounting for 55% of interest payments. Campaigners are calling for more public disclosure of new loans. Source: Jubilee Debt Campaign
Tread Softly Comment: African government debt payments are at their highest level since 2001 and it's clear that the recent rate of increase is unsustainable. This research focuses on challenging the view that Chinese finance is behind the worrying statistics. It concludes that Chinese debt to the African countries listed by the IMF and World Bank as most at risk is no more significant than loans from other sources. Relevant Briefing: Sovereign Debt
‘Surge in financing’ needed to transform the world: UN chief
24/9/2018: A “surge in financing and investments” is needed to achieve the 2030 Agenda, the UN plan of action agreed by Member States, to transform the world, the Secretary-General has said. Source: UN News