Latest news with #globaldevelopment
The Independent
a day ago
- Politics
- The Independent
Global aid is about more than money and charity – it helps us all
The 21st century began with an idea that now seems out of vogue: that a world with less poverty, fewer preventable diseases, cleaner air, and more peace was a world that was better for everyone. If you're reading this, you've been living through an age of miracles. In your lifetime, challenges that have plagued our species from the beginning have shifted dramatically. The number of parents burying a child before their fifth birthday has fallen by nearly 60 per cent. Women dying in childbirth has fallen by 40 per cent. Vaccines have reached hundreds of millions. HIV/AIDS, once a death sentence, is being beaten back. Poverty has declined at historic rates. But now, that vision has fractured. We live in a world dominated by insecurity. Geopolitics, technological disruption and economic vulnerabilities are all around us. Our societies are experiencing systemic stress resulting in reactions that are akin to a nervous system in survival mode. A lack of economic, political and personal security is leading to a politics of scarcity: one where societies are turning towards economic nationalism, to transactional international relations and an absence of international solidarity. Yet the world hasn't become any less interconnected. Pandemic threats, climate shocks, food insecurity and migration – these are not distant problems. They are shared risks. And they demand shared solutions. This is where the development community has failed. Conversations about development finance are dominated by inputs and institutions: How much should donors give? Through which institutions? At what cost? Is it value for money? Lost in this arithmetic is a simple, transformative idea: development isn't something 'we' do 'for them.' It's something we do with each other, because it makes all of us safer, stronger, and more resilient. The age of miracles in global health has happened because we didn't just fund systems — we have pursued missions, told stories about what's possible, and built political power to fight for those priorities. Ban smoking in public places. Get vaccines to every child. Tackle AIDS. Drop the Debt. These weren't abstract goals. They were visceral, focused, and urgent. And they rallied governments, civil society, and private actors around a common cause. This approach hasn't been without flaws. It was too focused on top-down approaches, assuming that the experts with the money had the answers. In a more complex, contested world, we can no longer afford to treat development finance as something rich countries "give" to poorer ones out of benevolence; or that "poorer" countries should be grateful recipients. Communities need investment at home and abroad. Yet treating this as a zero-sum game that considers only one side of the balance sheet (the costs, not the returns) is the kind of bean-counting that got us here. The truth is, when finance is well-placed, it helps communities withstand shocks, it prevents conflict, it creates jobs and opportunities. And those investments should be mutually reinforcing. Clean, cheap energy access in the north of England means fewer emissions and more economic dynamism. But that energy requires critical minerals and innovations that might just emerge from investments in Zambia or Kenya. A healthy, educated population in the Sahel contributes to global security meaning UK troops are less likely to be put in harm's way. An effective public health system in west Africa helps protect everyone from potential future pandemics and helps the NHS avoid being overwhelmed from its core caseload so it can focus on getting waiting lists down. And in a world of volatility, richer countries need humility to admit that learning is not a one-way street. The innovations that solve problems in Scotland, Wales, England or Northern Ireland might just emerge from Nairobi's digital finance scene, from Bangladesh's community health systems and from those on the front line of the climate crisis who are solving problems as a matter of survival. As richer countries struggle with a collapse of trust and a decline in social cohesion, there is much they can learn from communities that might be cash-poor but are solidarity-rich. This is the vision that shaped what is arguably the world's most successful aid programme – the Marshall Plan - and gave birth to the world's most successful peace project – the European Union. A far-sighted vision combined aid for Europe's reconstruction with preferential trade rules that paved the way for the world's largest common market. Countries that used to fight were bound by common incentives to make each other more prosperous. This created international trading partners, allies, and an international rules-based order and the most peaceful era the world has ever seen. As the world's governments gather in Spain on Monday for the Fourth Financing for Development Conference, they should stop fixating on the plumbing of development finance and start asking what it's for. And the answer lies in the core universal values we all share – no matter where we live. The desire for economic, physical, and psychological security and freedom to fulfil our full potential. This depends on access to basic health care, nutritious food, economic opportunities, and the space to express ourselves. In the jargon of the development finance world, it means aligning concessional finance, policy reform, private capital, and multilateral institutions behind big, audacious goals: resilient health systems, thriving local economies, clean energy access, food security. This also requires a thriving civil society eco-system, focused on movement-building not service delivery. The progressive left needs to build a transnational solidarity movement, akin to what Steve Bannon has inspired on the political right. We have done extraordinary things when we've had a vision to match our resources. The tragedy today is not a lack of money (though we could do with more of it, and governments should stop cutting the very programmes that keep us safe). It's the loss of shared purpose and the mobilisation of communities to fight for the world that they want to live in. Not out of charity but because it's in our collective self-interest.
South China Morning Post
2 days ago
- Business
- South China Morning Post
Premier Li Qiang says China's economy a ‘source of certainty' amid global risks
Chinese premier says Beijing will play bigger role in global development and calls on Asian infrastructure bank to address challenges China will continue to be a land of opportunities and an engine of global growth and stability, even as the world faces rising geopolitical challenges and uncertainties, Chinese Premier Li Qiang said at the Asian Infrastructure Investment Bank's (AIIB) Annual Meeting in Beijing. 'China remains the country that contributes the greatest impetus to global economic growth, and the most significant source of certainty for world peace and development,' he said on Thursday. Li's remarks came a day after he told the World Economic Forum's Annual Meeting of the New Champions in Tianjin that China's growth would remain 'at a relatively fast speed' and that the country would 'do its utmost' to address challenges facing the global economy. Despite mounting external challenges, China has shown resilience, Li said, citing its solid performance in the first two quarters of this year. He pointed to the 5.4 per cent year-on-year GDP growth in the first quarter, which he called a hard-won achievement. Beijing has set an annual GDP target of about 5 per cent this year. 'China's economy will remain a hotbed of opportunity for the global economy in the years to come,' he added. As China remains embroiled in an unpredictable trade war with the United States, Beijing has rolled out stimulus measures to stabilise financial markets and fuel consumption – including cuts to benchmark interest rates, reductions in banks' reserve requirement ratios and trade-in programmes to boost household spending. Newsletter Daily, Monday to Friday China at a Glance By submitting, you consent to receiving marketing emails from SCMP. If you don't want these, tick here {{message}} Thanks for signing up for our newsletter! Please check your email to confirm your subscription. Follow us on Facebook to get our latest news. At the AIIB meeting, Li praised the bank's achievements over the past decade, saying it would play a greater role in supporting members' growth amid rising geopolitical tensions, unilateralism and protectionism. 'Economic globalisation is a historical trend that cannot be reversed,' he said. Li also urged the bank to strengthen its alignment with the Belt and Road Initiative and the Global Development Initiative, two China-led programmes. Proposed by China in late 2013, the Belt and Road Initiative aims to improve trade and economic integration across Asia, Europe and Africa, while the Global Development Initiative, announced in 2021, focuses on poverty alleviation, food security and climate change – building on the UN's 2030 Sustainable Development Goals. Xu Tianchen, senior China economist at the Economist Intelligence Unit, said the world faces a funding shortage for infrastructure projects, exacerbated by Washington's cuts to foreign aid. As a result, the role of the AIIB would become even more important, he added. One potential challenge, Xu said, was political pressure from the US and some other countries, which may condition aid and financing upon recipient countries avoiding China or China-led institutions. As a China-initiated bank, the AIIB has shown a willingness to finance projects often shunned due to political risks, said Jamus Lim, associate professor of economics at ESSEC Business School. 'As the world continues to Balkanise into regional blocs, should the AIIB choose to refine its target focus on Africa and Asia, and retain its expertise in hard infrastructure lending, it will have the ability to be a developmental influence that would rival that of the Asia Development Bank and African Development Bank,' he said. Additional reporting by Luna Sun
Zawya
18-06-2025
- Business
- Zawya
UAE participates in the 46th Ministerial Council meeting of the OPEC Fund for International Development in Vienna
Assessing progress in the implementation of the Fund's plans and projects Highlighting the challenges of the evolving global development landscape Exploring ways to enhance South-South cooperation Mohamed bin Hadi Al Hussaini: The flexibility of the OPEC Fund's development solutions is key to effectively adapting to global challenges Vienna: The United Arab Emirates, represented by the Ministry of Finance, participated today in the 46th session of the Ministerial Council of the OPEC Fund for International Development (OFID), held in Vienna, Austria. The UAE delegation was headed by H.E. Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, and included Thuraiya Hamid Alhashmi, Director of the International Financial Relations and Organisations Department at the Ministry of Finance and Governor to the OPEC Fund for International Development, and Hamad Issa Al Zaabi, Director of the Office of the Minister of State for Financial Affairs and Alternate Governor to the Fund. The meeting discussed the OPEC Fund's Annual Report for 2024 and focused on evaluating the progress made in implementing the Fund's plans and projects. It also addressed the challenges posed by the rapidly evolving global development landscape, particularly in areas such as energy and food security, climate change, and the need to create sustainable job opportunities. Participants also discussed ways to strengthen South-South cooperation and build sustainable partnerships between the OPEC Fund and regional and international development finance institutions to enhance the efficiency of responses to beneficiary countries' needs. Flexible Development Solutions In his speech during the meeting, H.E. Mohamed bin Hadi Al Hussaini praised the tangible achievements made over the past year, which marked a milestone in the Fund's journey toward expanding its operations and enhancing its resilience and adaptability. He stated: 'This year marks the 49th anniversary of the OPEC Fund's founding, reflecting the strength of its founding vision and its pioneering role in promoting sustainable development across the Global South. Over the past year, the Fund has demonstrated outstanding institutional performance, driven by a clear approach under the 2030 Strategic Framework, enabling it to effectively respond to rapidly evolving conditions and deliver flexible and actionable development solutions across various sectors.' He added: 'We recognise that the global development landscape is undergoing significant changes, with governments across our regions facing multiple challenges—from food security and energy provision to climate change adaptation and job creation. Amidst these challenges, the pressure on the development finance system is growing at an unprecedented pace. In this context, the OPEC Fund can play a central role in supporting countries by advancing South-South cooperation and offering financial solutions that span a wide range of sectors and instruments, in addition to its strong global credibility.' Advancing Development Efforts The OPEC Fund for International Development is a multilateral development finance institution established in 1976. It works to strengthen cooperation between OPEC member countries and development partners from the Global South and the international development community. Its mission is to support sustainable social and economic progress in low- and middle-income countries worldwide, contributing to stability and prosperity in beneficiary countries by offering technical and financial assistance through concessional financing, grants, and development-focused aid across sectors such as agriculture, education, energy, health, and transport. Since its inception, the Fund has committed over USD 27 billion to support more than 4,000 development projects with a total estimated cost exceeding USD 200 billion across more than 125 countries.
The Guardian
16-06-2025
- Business
- The Guardian
Starmer urged to attend UN summit and back plans to tackle global debt crisis
More than 80 charity leaders and campaigners have written to Keir Starmer urging him to attend a UN global development conference and back plans to reduce the debt payments made by poor countries. World leaders including the French president, Emmanuel Macron, and the Canadian prime minister, Mark Carney, and the European Commission president, Ursula von der Leyen, are expected at the Financing for Development conference – known as FfD4 - in Seville later this month. The campaigners claim that in negotiations between participating countries, the UK, together with others including the US, has blocked proposals for a new UN intergovernmental process to tackle the debt crisis in the global south. Signatories to the letter include the heads of Christian Aid, Oxfam GB, Save the Children UK, ActionAid and Unicef UK. 'We are deeply concerned about the UK's position to systematically block any significant reform of the debt architecture within the FfD4 negotiations thus far. This approach risks putting this government on the wrong side of history and risks further damaging the UK's reputation as a development partner,' it says. The development minister Jenny Chapman has insisted the UK will continue to take a lead on international development, despite slashing the aid budget to fund higher defence spending. Under its party manifesto, Labour pledged to 'repair relationships with developing countries and to restore the UK's role on the international development stage'. Romilly Greenhill, the chief executive of the aid umbrella group Bond, which coordinated the letter, said: 'Following the shortsighted decision to cut the UK aid budget, this government has a responsibility to step up and take decisive action on debt.' She added: 'The UK must stand in solidarity with countries hardest hit by the unjust debt crisis. Supporting their calls is vital – not just for the global majority, but for a fairer, more stable future for everyone.' Patrick Watt, the chief executive of Christian Aid, said: 'The UK cannot build real partnerships with the global south while blocking the very reforms those countries are calling for. At FfD4, the government has a choice: stand in solidarity with countries facing debt and climate crises, or cling to outdated power structures that continue to extract more than they give.' The letter calls on Starmer to 'ensure that the UK government demonstrates that it is ready to lead on debt on the global stage' by supporting the idea of a UN process. 'This is urgently needed for agreeing just, timely, and lasting debt relief and preventing future debt crises,' the letter adds. With the UK a common jurisdiction for the contracts that govern sovereign debt, the government is also being urged to pass legislation to force private sector creditors to bear their fair share of any debt relief programmes. The letter to Starmer says: 'Reforming UK debt legislation and supporting global financial reform costs the UK taxpayer nothing, all that is required is your willingness to lead.' The World Bank estimates more than half of low-income countries are either already in debt distress or at high risk of it, and its chief economist has warned that outside Asia, the developing world risks becoming 'a development-free zone'. Sign up to Business Today Get set for the working day – we'll point you to all the business news and analysis you need every morning after newsletter promotion Countries struggling to meet their debt obligations can already apply for relief through a process known as the common framework, which is administered by the International Monetary Fund, but critics complain that it can take years. A UK government spokesperson said: 'We remain deeply committed to supporting developing countries to tackle unsustainable debt and continue to work with them to address both the immediate challenges, and the underlying drivers. 'We look forward to working through a full spectrum of development finance issues, alongside our partners at the conference in Seville later this month.' They spokesperson added that the UK would be represented by a minister at the meeting. Global efforts to tackle poverty have taken a significant blow from the deep cuts in overseas aid budgets made by Donald Trump's administration, which has all but dismantled its aid agency, USAID.
Al Bawaba
29-05-2025
- Business
- Al Bawaba
ADU Hosts Second International Conference on Global Sustainable Development Uniting
Abu Dhabi University (ADU) successfully hosted the second edition of the International Conference on Global Sustainable Development (ICGSD 2025) on May 23–24 at its Dubai campus. Marking the conference's first edition in the region, the event convened leading academic scientists, researchers, policymakers, and industry experts from ten countries to exchange ideas and explore innovative solutions to today's most pressing sustainability in collaboration with Digambarrao Bindu College and Acadivate, the premier interdisciplinary conference brought together more than 130 global experts for high-impact discussions and cross-sector collaboration spanning health, business, environment, technology, and social sciences. Through a dynamic agenda of plenary sessions, panel debates, and over 100 research presentations, ICGSD 2025 explored critical themes including climate change, renewable energy, social justice, AI in education, and sustainable development practices. The two-day event reinforced the importance of international cooperation and actionable strategies aligned with the UAE's national agenda and the United Nations Sustainable Development Ghassan Aouad, Chancellor of Abu Dhabi University, said: 'We recognize that meaningful progress toward sustainability requires collaboration across disciplines, sectors, and borders. At ADU, we are committed to fostering this kind of innovation-led dialogue through initiatives like ICGSD 2025. The conference served as a powerful platform for engaging thought leaders and changemakers committed to co-creating solutions that serve both people and the planet. As the UAE accelerates its sustainability agenda, ADU remains at the forefront of driving dialogue research, and innovation that advance long-term impact locally and globally.'Maryam Rashd Bunfour, Sustainable and Renewable Energy Engineer at the General Headquarters of Dubai Police, said: 'Police entities play a critical role in advancing sustainability by integrating comprehensive environmental frameworks into their core operations. This allows us to align efforts in maintaining society's safety and security with long-term environmental goals, ultimately contributing to shaping the UAE's future policies and building a resilient and sustainable society.'Karim Houni, Head of Digital Innovation at Emirates Global Aluminum, said: 'ICGSD 2025 provided an exceptional platform to explore forward-thinking solutions and engage with leading researchers and students from around the world. My session on 'Digital EcoDesign in a Sust-AI-nable World' sparked meaningful dialogue and opened doors for potential collaborations. I look forward to contributing to future editions of this impactful conference.'Professor Fauzia Jabeen, Director of Research Institute for Sustainable Futures at Abu Dhabi University added: 'We're proud to host such conferences that offer a powerful platform to highlight cutting-edge innovations like 'Metaverse Adoption as a Pillar of Sustainable Healthcare in Industry 5.0.' This keynote showcased the transformative potential of metaverse technologies to advance sustainability in the UAE's healthcare sector.' Following its successful inaugural edition in Thailand, the second ICGSD marked a major step forward in expanding global participation and impact. ADU continues to host high-caliber platforms that empower students, faculty, and global partners to contribute to sustainable solutions aligned with both national priorities and global development goals. The university also integrates climate action across education, research, operations, and community engagement. Through its Climate Action Plan and Sustainable Research Centre, ADU fosters innovation in areas such as renewable energy, pollution monitoring, and environmental management, reinforcing its leadership in advancing the UAE's sustainability agenda.
