Mari Elka Pangestu

ı will speak at the panel: "Investing today for a more resilient tomorrow"

14

The United States will help Central Asia’s nations find new foreign trade markets The USAID is hosting the 13th Central Asia Trade Forum, entitled “Trade Connections: Bridging Globally,” on May 14 and 15 in Almaty, Kazakhstan. The Central Asia Trade Forum (CATF) is a major trade event advancing connectivity, commerce, and trade policy in the region. With more than 10,000 government and business leaders from 25 countries in Central and South Asia, Europe, and the United States participating since its inception, CATF has enabled the signing of more than $32 million in contracts. This year’s CATF is reportedly designed to open new trade possibilities and overseas markets, enabling participants to identify opportunities and expand the scope of regional trade. The forum will feature sessions on customs digitalization, transport and logistics, trade regulation (including regional trade agreements), World Trade Organization standards, and harmonization. Press release issued by USAID says the forum has successfully added side events to attract even more investors and entrepreneurs: a trade fair running concurrently will feature 40 companies from Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan (in partnership with Kazakhstan's Ministry of Trade and Integration and Almaty Chamber of Commerce and Investment, it will showcase agricultural, textile, apparel, and food products); a business-to-business expo featuring Central Asian products for global buyers; and a Kazakhstan-Pakistan Trade Fair, showcasing Pakistan’s businesses’ potential for bolstering international economic ties. In addition, the 11th Regional Meeting of the National Trade Facilitation Committees of Central Asian countries is expected to be held at the Rixos Hotel on May 15. It will attract business executives and officials from the five countries overseeing customs, transport, phytosanitary certification, and veterinary border control. Supported by the ‘Trade Facilitation in Central Asia’ regional project, implemented by Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), this meeting will focus on roadmaps for digitalizing trade processes in Central Asia and developing a joint action plan to streamline trade procedures throughout the region. Read more: https://lnkd.in/dxDvVgGi

72

1 Comment

🇪🇹 Breaking News!! Council of Ministers Passes Crucial Decisions on #Loans, #Taxes, and #Banking Reforms. In its 35th regular meeting today, Ethiopia’s Council of Ministers discussed and approved several important bills and reform plans. Firstly, the Council approved a loan agreement with the International Development Association to obtain USD 207.2 million in interest-free funding for the second phase of the country’s urban drinking water and sanitation projects. This loan will be repaid over 38 years with a 6-year grace period. The Council also unanimously decided to forward a property tax bill to the House of Representatives. This bill aims to ensure more equitable wealth distribution in urban areas by allowing state governments to implement their own property tax laws. Reforms to strengthen the Commercial Bank of Ethiopia (#CBE) were also approved, including enhancing administrative efficiency and improving financial reporting to help increase the bank’s capital. Additionally, the Council agreed to revise the National Bank of Ethiopia’s (#NBE) founding legislation to better align with international best practices and address evolving economic, financial, and geopolitical changes. Last but not least, the Council discussed and approved a new banking sector bill to establish a legal and regulatory framework for licensing and managing the entry of foreign banks into the Ethiopian market. An environmental and social impact assessment bill was also advanced to the House of Representatives to guide mitigation of negative effects from development projects. Source: Ethiopian Business Review | EBR

25

3 Comments

Though published nearly one month ago, this piece captures many of the risks and challenges in Georgia's current political climate. The points hold today, and will remain relevant from now through the forthcoming parliamentary elections. Worth the read. https://lnkd.in/ddmNT_G4

20

It was an honor to meet the Right Honarable Patricia Scotland KC, the Secretary General of The Commonwealth during a #bilateral meeting on the sidelines of #COP28. The meeting was aimed to discuss the areas of mutual collaboration and support Commonwealth can offer to promote the Global Alliance on Green Economy (#GAGE) among the Commonwealth countries. Abdulrahim Sultan Umamaheswaran Krishnan Amr Seleem Sarra Boujnah #UAE #Africa #Asia #COP28 #countries #WGEO #ClimateChange #greeneconomy #ClimateAction #ClimateNeutral #sustainability #carbonneutrality #climateneutrality #netzero #sustainabledevelopment #sustainableagriculture #sustainablebusiness #sustainabilityreporting #sustainabilitymatters #sustainabledevelopmentgoals #sustainablecities #greenfinance #greenenergy #greenfuture #greengrowth #greenbusiness #climatechange #climateaction #climatefinance #climateresilience #climateadaptation #climatejustice #climaterisk #climatetech #climatesolutions #climatepolicy #climatechangesolutions #climateactionnow #climatechangeaction #climatechangemitigation #climatejobs #carbonmarkets #carboncredits #carbonreduction #carbonaccounting #carbonoffsets #London

108

7 Comments

The African Development Bank Group faces challenges taking advantage of the #IMF's new #SDR investment scheme in multilateral development banks. Proponents say #Japan, #SouthKorea, #Canada, #Australia, #Norway and the Arab Gulf countries are early contenders to making it a reality. My latest for Jeune Afrique's The Africa Report, with Julie Kozack @ International Monetary Fund and Mark W. Plant @ Center for Global Development https://lnkd.in/ePNBizU6

11

The United States and Europe can and should facilitate Central Asian regional integration and development,сomposed Dr. Azeem Ibrahim OBE ,Senior Director at the New Lines Institute for Strategy and Policy in Washington DC in his article The fall of the Soviet Union granted the five Central Asian States independence a little over thirty years ago. The region was largely ignored by the world’s great powers, even though its southern neighbor, Afghanistan, was the theatre of NATO’s twenty-year war. However, geopolitics and geoeconomics have changed since then. The five countries have come of age, both domestically and regionally, working together to unleash the region’s potential as a key mineral and infrastructural hub for energy security and global trade. The region has close historical ties to Russia and is positioned along China’s Belt and Road. Still, it also offers significant opportunities for U.S. and European companies to access the key precious metals for the energy transition. Consequently, the region has seen a steep change in engagements, with frequent gatherings of heads of state, visits by foreign ministers, and an unprecedented number of bilateral agreements signed, vying for access to this new prime geopolitical and economic real estate. But it was the chaotic withdrawal from Afghanistan and the invasion of Ukraine in February 2022 that caused a foreign policy pivot in Western capitals to begin in earnest. This regional community should include, in the long term, the two final “Stans,” Afghanistan and Pakistan, which would open up routes for a “southern corridor” to a deep warm-water port in the Arabian Sea, integrating the landlocked nations of the continent’s center within the global maritime economy. It would also offer Afghanistan a proper future, with economic and political integration with its neighbors. That is the only way to ensure that Afghanistan doesn’t become an exporter of terrorism again. Policymakers in Washington, London, and Brussels must therefore leverage their expertise and help the seven “Stans” come together more formally with the establishment of a regional “S7 Union,” backed by a S7 Infrastructure and Investment Bank and S7 Critical Minerals Authority. A stronger multilateral organization would facilitate dialogue and turn the region into a legally and regulatorily independent bloc, able to represent its own interests more effectively. Read: https://lnkd.in/dmiC7zcw

129

44 Comments

The IMF’s latest Regional Economic Outlook report for Sub-Saharan Africa is out, including a very timely analytical note on “Cutting Budget Deficits in Sub-Saharan Africa without Undermining Development”. About two-thirds of sub-Saharan African countries have embarked on sizable fiscal tightening plans. To implement the necessary adjustment while limiting the negative effects on economic development and social conditions, it is crucial that policymakers rely more on revenue-enhancing measures than cuts to investment and other priority spending. Effective strategies to build public trust around fiscal consolidation plans, such as using compensatory measures (including targeted transfers) or adequate sequencing, are essential to ensure a successful and durable implementation of these adjustments. https://lnkd.in/eSjfY8Ra

49

1 Comment

Are you interested in the topic of "#Media and #Sustainability" from a multi-sectoral perspective? This call for papers for the #AWiM24 Conference might be for you.

4

1 Comment

DFIs are increasingly collaborating with Humanitarian and Peace actors to deliver sustainable and resilient solutions.

10

The leaders of 10 multilateral development banks (#MDBs), including African Development Bank President Dr Akinwumi Adesina, announce joint steps to work more effectively as a system and increase the impact and scale of their work to tackle urgent development challenges. The MDB Heads committed to concrete and actionable deliverables in 5 critical areas:  1️⃣ Scaling up MDB financing capacity. 2️⃣ Boosting joint action on climate change. 3️⃣ Strengthening country-level collaboration and co-financing. 4️⃣ Catalyzing private-sector mobilization. 5️⃣ Enhancing development effectiveness and impact. Read the full Viewpoint Note: https://bit.ly/3Uqh84j

685

25 Comments

Recognizing the evolving global dynamics of geo-political and socio-economic interests surrounding ongoing process of the Intergovernmental Negotiating Body to draft and negotiate a Pandemic Agreement and the amendments to the International Health Regulations (IHR-2005), @AfricaCDC, in collaboration with Ethiopia is convening a high-level strategic meeting to bolster common understanding and consolidate the continental negotiating position. This high-level gathering brings together Ministers of Health, Representatives from Ministries of Foreign Affairs, Geneva-based Ambassadors and Permanent Representatives to the AU, as a move to leverage political and strategic policy support within the AU frameworks to solidify Africa's stance on pandemic prevention, preparedness, and response within the global health community. #equity #solidarity #socialjustice #fairness

9

2 Comments

Leaders & Change-makers, the AfCFTA Implementation Strategies Synthesis Report by United Nations Economic Commission for Africa is a must-read! It encapsulates 33 National Implementation Strategies, offering a blueprint for accelerating, domesticating and localising the AfCFTA Agreement. 🔗 Read the full report here: https://lnkd.in/d_EkEKVj Key highlights: - Alignment with national development frameworks. - Inclusivity in strategy development, engaging all stakeholders. - Emphasis on data collection and evidence-based decision-making. - Revision of national strategies to comply with new AfCFTA protocols. - Environmental integration to align with current policy trends. - An integrative approach for cross-sectoral coherence. - A comprehensive planning framework for monitoring and communication. This report is pivotal for creating robust National Implementation Strategies, fostering a conducive environment for trade, and tackling economic challenges. Don’t miss out on these insights – they’re instrumental for our collective progress. Geoffroy Melaku Desta

43

9 Comments

Exchanging experiences on #transboundary #water allocation, WEFE #nexus and development of agreements in the stunning #Zambia. #WaterConvention   Learn more https://lnkd.in/giuxFKTh

80

YWCA Kenya is inviting you to a Zoom webinar: When: May 17, 2024 02:00 PM Nairobi Topic: The role of communities in Climate finance mobilization, utilization, tracking and monitoring.. _Register in advance for this webinar:_ https://lnkd.in/dve7FSgP After registering, you will receive a confirmation email containing information about joining the webinar.

8

There's been a lot of push to replicate #digitalpublicinfrastructure approaches from outside the region to a number of African countries. But with unique needs and challenges, significant existing infrastructure and investment in data systems, and a variety of regulatory regimes, countries should be put in the driver's seat in defining their own DPI priorities and approaches. A really useful hype check and perspective from Charlene Migwe-Kagume https://lnkd.in/eZswajwn

23

2 Comments

Antonio Guterres once again calls for reform of the global financial architecture, including MDB reform with reference to utilizing "callable capital" and for flexibility to be injected into the private creditor relationship. On the same day that Ghana is restricted from restructuring by the IMF, with Ghana already in default. This is precisely why understanding the underlying dynamics of the credit rating agencies is all important now - they sit at the heart of everything. MDBs need to scale up? CRAs have to approve. Private creditors need to be more flexible? CRAs have to approve or get out of the way. Vulnerable countries need to be able to restructure quickly and effectively? CRAs need to approve. It is the same story time and time again. https://lnkd.in/e5Rb4CTq The Credit Rating Research Initiative #creditratings #globalfinancialarchitecture #Ghana

44

4 Comments