Development Finance Watch, Issue 96

Eurodad Newsletter May 18, 2012 - Issue# 96   European Network on Debt and Development DEVELOPMENT FINANCE WATCH

 

	Top Story » All mixed up: Council conclusions send contradictory messages on aid and private finance   EU Foreign Ministers issued their Council conclusions on the European Commission’s “Agenda for change” proposal for a revamp of EU development policy this week. One extraordinary contradiction – on ‘leveraging’ private finance – caught my eye.   read more News» Joint CSO submission to the consultation on proposed EU Platform for External Cooperation and Development   We welcome the intention to improve coordination of EU development and external cooperation actions. However we urge the Group of Experts (GoE) to take a step back and reflect on the key concerns that stakeholders have raised, and ensure a proper evaluation is done of current operations before proceeding: a preliminary decision must not be rushed.   read more Report» Tax incentives and revenue losses in Uganda: A race to the bottom?   Every year Uganda sacrifices an amount equal to nearly twice its entire health budget due to its use of tax incentives such as tax holidays for foreign businesses. Worse still, research shows that these incentives are not necessary to attract investments to Uganda. Government needs to remove excessive tax incentives, promote transparency on the tax incentives they give, and coordinate with the East African Community to avoid harmful tax competition. read more Report» Tax competition in East Africa: a race to the bottom?   Kenya, Uganda, Tanzania and Rwanda are losing $2.8 billion each year through their use of tax incentives such as tax holidays for foreign businesses. Such tax incentives are promoting harmful tax competition in the region, and are anyway not needed to attract investments. Members of the EAC should cooperate to eliminate excessive tax incentives, ensure greater transparency for any that remain, and promote coordination within the East African Community (EAC) to prevent harmful tax competition.   read more		What's New Issue #96 May 18, 2012 ACTION ALERT Take action: Sign a petition to the G8/G20 Chairs to support an International Debt Court   FEATURED MEMBER Campagna per la Riforma della Banca Mondiale (CRBM) campaigns for a democratic and radical reform of the international financial institutions and financial markets, in solidarity with local communities worldwide that are affected by projects and investment.   FACTS AND FIGURES ‘Only 25% of all companies supported by the EIB and IFC were domiciled in developing countries. A large amount of these institutions’ portfolios (49%) goes to support companies based in OECD countries and tax heavens.’   Forthcoming Eurodad’s report on the role of public finance in supporting the private sector in developing countries   MEDIA MENTIONS Eurodad was mentioned by: IPS News on climate finance Supply Management on tax justice     EURODAD IN ACTION Alex Marriage and Øygunn Brynildsen gave a lecture on South North capital flows for the Institute of Social Studies at the Erasmus University on 16 May.   Jeroen Kwakkenbos attended to the Policy Forum on Development in Brussels   EVENTS What: Private sector finance and its role in enhancing climate action When: 21 May, 2012 Where: Rail room at the Ministry of Transport, Bonn, Germany   What: Launch of Eurodad’s Report on the role of public finance in supporting the private sector in developing countries When: 30 May, 2012 Where: Brussels, Belgium     JOB VACANCIES Oxfam International: Head of Essential Services Campaign Brussels, Belgium   Safe the Children: Investment in Children (Economic Justice) Manager London, UK   ActionAid: Campaigns and advocacy intern Johannesburg, South Africa   FOLLOW US ON TWITTER AND LIKE US ON FACEBOOK! Alternative version of this newsletter is available in PDF If you have feedback on articles, suggestions of content for future issues or other thoughts, please write to: assistant@eurodad.org

 

 

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