Development Finance Watch, Issue 97

Eurodad Newsletter June 7, 2012 - Issue# 97   European Network on Debt and Development DEVELOPMENT FINANCE WATCH

 

 

Top Story » Private profit for public good? Can investing in private companies deliver for the poor?   Donor governments and multilateral institutions have provided grants and loans to private companies operating in developing countries for decades. However, since the 1990s the scale of this support has increased dramatically. In 2010 external investments to the private sector by IFIs exceeded $40 billion. By 2015, the amount flowing to the private sector is expected to exceed $100 billion – making up almost one third of external public finance to developing countries. As global ODA stagnates, several aid agencies have suggested a dramatic scaling up of public finance devoted to supporting private sector investments.   read more     Blog » World Bank’s procurement policy: CSOs must engage The World Bank is reviewing its operational procurement policy, a process with deep and significant consequences for developing countries. Eurodad will participate in the consultation and we encourage others to do the same. read more     Report » European NGOs meet to prepare for the World Bank and IMF Spring Meetings Eurodad member Jubilee Debt Campaign has released a new report giving an overview of developing world debt. The report investigates the external debts of both governments and the private sector in the global South. Analysing recently-compiled data from international financial institutions, it finds that private sector debt payments out of impoverished countries are now double those of the public sector, a complete turnaround since the year 2000. High private sector debts have been the main cause of the financial crisis in countries such as Spain, Ireland, Iceland and the UK.   read more

What's New   Issue #97   June 7, 2012 ACTION ALERT Sharon Bowles MEP’s Petition on EU Country-by-Country Reporting : Own up Pay up specifically focussing on the need to strengthen this proposal to address tax dodging and its effect on developing countries.   Jubilee for Justice: A call for a new debt jubilee. Sign the call for a new debt jubilee.   Global week of action to end tax haven secrecy. Make sure the world's poorest are heard at the G20.       FEATURED MEMBER   CRBM changes into Re:Common. In June 7th the new organisation will be presented to the public in Rome: Re:Common.     FACTS AND FIGURES ‘Only 25% of all companies supported by the EIB and IFC were domiciled in developing countries. A large amount of this institutions ‘ portfolios (49%) goes to support companies based in OECD countries and tax heavens’. Eurodad’s Report: “Private profit for public good? Can investing in private companies deliver for the poor?”.     FEATURED RESOURCE New Eurodad’s Report on private sector: “Private profit for public good? Can investing in private companies deliver for the poor?”     EURODAD IN ACTION Jeroen Kwakkenbos presented Eurodad’s report on private sector on the 30th of May in Brussels.   Javier Pereira attended the UNFCCC intersessional event co-hosted by ACT Alliance, Climate Action Network Europe and the Government of Malawi in Bonn.     EVENTS What: Workshop on Tax Avoidance, Corruption and Crisis When: 5 and 6 July , 2012 Where: University of Essex, Colchester, UK   What: Task Force for Financial Integrity and Economic Development Conference When: 17-18 October, 2012 Where: Tunis, Tunisia     MEDIA MENTIONS Eurodad was mentioned by The Inter Press Service on Billions of Development Dollars in Private Hands.   Eurodad was mentioned by The Bureau of Investigative Journalism on International development aid going to private companies.     FOLLOW US ON TWITTER AND LIKE US ON FACEBOOK!     Read the PDF version of this newsletter. If you have feedback on articles, suggestions of content for future issues or other thoughts, please write to: assistant@eurodad.org

 

We encourage our readers to circulate this newsletter to interested colleagues. If you have problems downloading from the web and would like to receive mentioned documents as an e-mail attachment, please contact assistant@eurodad.org.   Eurodad’s articles are also available for re-use in other publications with reference to the original source. EURODAD is a non-profit organisation (ASBL/VZW) based in Belgium. For a list of EURODAD member groups across Europe, or to join, see: www.eurodad.org/members

 

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