Europe is at last fully converted to the merits of boosting investment in order to achieve sustainable growth. The EU is doing so with an internal investment plan (commonly referred to as the Juncker Plan or as the European Fund for Strategic Investments (EFSI), writes San Bilal. San Bilal is the Head of the European Centre for Development Policy Management (ECDPM) Economic Transformation and Trade Programme. In his State of the Union address, European Commission President Jean-Claude Juncker announced the doubling of its duration and its amount, to at least €500 billion.
The cost of disaster is critical in determining the support and impact on countries and the Federated States of Micronesia has been struggling to determine the full cost of Typhoons Maysak and Dolphin in 2015 and the recent crippling drought. To support this process, a Post Disasters Needs Assessment training is being conducted for disaster experts from the four states of FSM — Chuuk, Kosrae, Pohnpei and Yap. The training which begins today in Colonia, Yap, is supported by the Pacific Community or SPC and the European Union through the ACP-EU Building Safety and Resilience in the Pacific project.
Renewable energy projects across the world received funding worth $6 billion in 2015 from multilateral banks, a recent report has revealed. The World Bank, The European Investment Bank (EIB), the Inter-American Development Bank (IDB), the Asian Development Bank (ADB), the African Development Bank (AfDB), and the European Bank for Reconstruction and Development (EBRD) provided a total of $25 billion in climate finance across the world. Around 20% of this investment (i.e., $5 billion) went into adaptation projects, while the remaining 80% was invested into mitigation projects.
Netherlands has unveiled a Euro 3,5 million ($3,9 million) fund to mitigate the effects of the El Nino induced drought through a number of strategies including providing crop and livestock inputs in the affected areas. A total of seven non-governmental organisations namely; Plan International Zimbabwe, Terres De Homes, World Vision, International Rescue committee, Cordaid and ICCO/Act-Alliance have joined hands under Zimbabwe Joint Drought Response (ZIMJR) Initiative to implement the project.
Africa remains one of the most difficult markets to penetrate, riddled by bankability issues and a distinct lack of the right kind of strategic partnerships. To expedite and support solar investment on the continent, SolarPower Europe and the Africa-EU Renewable Energy Cooperation Programme (RECP) have teamed up to facilitate business cooperation between African and European stakeholders. The RECP is a development programme funded by the European Commission and several EU member states including Austria, Finland, Sweden, Germany, Italy and the Netherlands.
François Hollande has announced an increase to France’s official development assistance budget for 2017, putting an end to several consecutive years of funding cuts. EurActiv France reports. “France must set the example on development assistance,” the president told an assembly of French ambassadors at a meeting in Paris on Tuesday (30 August). With negotiations on France’s 2017 finance bill looming on the horizon, Hollande promised to increase France’s development spending, which has suffered year-on-year cuts since he began his mandate in 2012.
The Fiji Red Cross and International Federation of Red Cross and Red Crescent Societies(IFRC) will rebuild 10 cyclone-resistant homes in the Western Division. This will be used as a plan by others whose homes were destroyed by Severe TC Winston. The project will be funded by the EU. IFRC shelter delegate Colin Price said the construction of those 10 houses would be spread across the 10 most affected Red Cross branches in Fiji. "They will be used as a training ground and the means of communicating build back safer awareness sessions to 5000 households," he said.
Africa’s bid to combat the potentially devastating consequences of climate change has received a major boost with the United Nations Environment Programme (UNEP) and European Union announcing plans to spend €3.42 million to bolster low-carbon, climate-resilient development on the continent. Climate change threatens to push millions of people in Africa into extreme poverty by 2030 as crop yields decline, water grows scarce, droughts intensify and food prices increase. Roughly 18 million people on the continent could be affected by floods every year as global warming rises.
Marine fisheries catches have been drastically under-reported in the Turks and Caicos Islands in the Caribbean, threatening the marine environment and livelihoods of the local community, reveals a recent study published in the open-access journal Frontiers in Marine Science. Actual catches on the islands were an alarming 2.8 times, or 86% higher than that reported to the FAO, and this has very troubling implications. Lead researcher Aylin Ulman, recently based at the Sea Around Us, and her team call for urgent action from policy-makers to ensure the future sustainability of the fishing industry in this archipelago nation.
The European Union Tuesday announced that it was making available EURO 50,000 (One Euro =US$1.29 cents) to Belize in humanitarian funding following the passage of Hurricane Earl last week. The EU said that the funding to assist the most affected populations. The storm, which hit the country on August 4 as a Category One hurricane, caused widespread damage and the authorities are still assessing its impact. Schools, markets, airports and ports were closed, and water supplies affected in several parts of the country.