Africa

New Development Bank Opens for Business [viewed]

ndb21 July 2015: The New Development Bank (NDB), formerly referred to as the BRICS Development Bank, a multilateral development bank (MDB) operated by the BRICS group of countries (Brazil, the Russian Federation, India, China and South Africa), has begun its operations. The NDB will be headquartered in Shanghai, China, and each country will be assigned one vote, while no country will hold veto power.

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Two-Week Session to Finalize Post-2015 Agenda Kicks Off [viewed]

announcementpost1520 July 2015: Opening the seventh session in the intergovernmental negotiation process on the outcome document of the UN Summit to adopt the post-2015 development agenda, the Co-Facilitators stressed the need to conclude negotiations by 31 July, and expressed confidence in UN Member States' ability to "do great things."

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Africa Prioritizes Industrialization, Transformation at FfD3 [viewed]

logo_ffdiii16 July 2015: Leading up to UN Member States' agreement on the Addis Ababa Action Agenda (AAAA) at the Third International Conference on Financing for Development (FfD3), African delegates advocated for incorporating African priorities into the AAAA and held events on topics such as domestic resource mobilization (DRM), industrialization and illicit financial flows.

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IISD GSI Event: Fossil-Fuel Subsidies Reform Can Finance Development [viewed]

gsi-fffsr 14 July 2015: Reforming fossil-fuel subsidies can free up funds for investing in sustainable development and reduce global greenhouse gas (GHG) emissions by approximately 10%, according to a high-level side event held at the Third International Conference on Financing for Development (FfD3) in Addis Ababa, Ethiopia. Participants also underlined that current low international energy prices create a window of opportunity for fossil-fuel subsidy reform.

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Event: Africa's Global Drive to Apply the Sendai Framework for Disaster Risk Reduction [viewed]

Africa's launch of a global drive to apply the new Sendai Framework for Disaster Risk Reduction, a 15-year international roadmap that seeks to make the world safer from natural and man-made hazards, will bring together representatives from over 40 governments, Africa's Regional Economic Communities, the African Union, the UN and other international organizations. The goal of the meeting is to align Africa's existing programmes with the Sendai Framework, making it the first intergovernmental meeting to put the Framework into action since its adoption in March 2015 at the World Conference on Disaster Risk Reduction.  

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UNEP Launches Reports on Design of a Sustainable Financial System [viewed]

unep-un14 July 2015: The UN Environment Programme launched a series of reports from its ongoing inquiry into the design of a sustainable financial system, on the occasion of the Third International Conference on Financing for Development (FfD3) in Addis Ababa, Ethiopia.

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Programme to Build DRR in Sub-Saharan Africa Announced at Margins of FfD3 [viewed]

UNISDR14 July 2015: An €80-million funding package has been unveiled to support disaster risk management across Sub-Saharan Africa. The five-year ‘Building Disaster Resilience to Natural Hazards in Sub-Saharan African Regions, Countries and Communities' programme was announced on the sidelines of the Third International Conference on Financing for Development (FfD3) in Addis Ababa, Ethiopia. The European Union is helping to fund the programme, while the UN Office for Disaster Risk Reduction (UNISDR) is one of the partners that will help to implement it.

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UN Regional Commissions Call for Effective Fiscal Policies, Global Tax Reform [viewed]

United Nations14 July 2015: The UN Regional Commissions highlighted the need for effective fiscal policies and global tax reform in the quest for sustainable and inclusive development during a roundtable event that featured Nobel Laureate Joseph Stiglitz. The event, titled 'Regional Perspectives on Implementing an Ambitious, Transformative Sustainable Development Agenda,' took place on the sidelines of the Third International Conference on Financing for Development (FfD3) in Addis Ababa, Ethiopia.

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SE4All Outlines Path to US$120 Billion in Clean Energy Finance [viewed]

SE4ALL13 July 2015: A report released by the Finance Committee of the Sustainable Energy for All (SE4All) Advisory Board recommends ways for increasing the world's investment in sustainable energy. The report lays out a path to raise US$120 billion in clean energy investment by: developing the Green Bond market (US$35 billion); deploying de-risking instruments to mobilize private capital alongside public funds (US$30 billion); encouraging construction-stage and late-stage lending from institutional investors (US$30 billion); and creating structures to aggregate small-scale projects (US$25 billion).

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Member States Review Progress on SIDS Partnerships [viewed]

maldives_undesa25 June 2015: UN Member States, UN agencies and international organizations reviewed progress of partnerships and initiatives launched at the Third International Conference on Small Island Developing States (SIDS). The informal SIDS Partnership Dialogue, organized by Maldives and the UN Department of Economic and Social Affairs (DESA) as a follow-up to the Conference, took place on 25 June 2015, in New York, US.

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