Development Finance Watch, Issue 102

Eurodad Newsletter September 05, 2012 - Issue# 102   European Network on Debt and Development DEVELOPMENT FINANCE WATCH

 

	Top Story » World Bank procurement guidelines need to be optimised In March this year the World Bank launched a two-year review process of its operational procurement policy and procedures. This process will have significant consequences for developing countries as it entails the guidelines that the institution provides to borrowing countries when they use World Bank funds to purchase goods or contract services. This is the single largest review of World Bank procurement policy since the 80s and involves a multi-stakeholder consultative process around the world including governments, business associations and civil society.   The review is very timely, given that the OECD has identified that procurement is a major constraint for improving the development effectiveness of development grants and loans. DAC chair Brian Atwood said ahead of the fourth High Level Forum on Aid Effectiveness held in Busan in late 2011 that “procurement is the main issue to tackle on donor side (to make aid more effective).”  More than 10 years after initial agreements to untie aid, the OECD DAC identified that two thirds of contracts awarded by bilateral donors still go to OECD businesses, and donors’ procurement practices are the reason for this.    read more   Blog » Foreign investment – how good is it for development FDI continues to rise, though it’s still a way off its 2007 peak, and the majority continues to be in developing countries and emerging markets. The 2011 figure – $1.524 trillion – sounds impressive, but is tiny when compared with domestic investment in most countries, and small compared with world trade. The value of FDI is not so much about numbers, but about other ways it can contribute to economic development and poverty reduction.   read more   News » Norway takes a bold step towards debt justice: First creditor ever to carry out a debt audit The Norwegian Minister of Development Heikki Holmås announced that Norway will make an assessment of the legitimacy of developing countries’ debt to Norway. This means that the Norwegian government will be the first to ever carry out a creditor’s debt audit.   read more   News » European CSOs outline ideas for EU Communication on Tax Havens The communication on tax havens and unfair tax competition will be released towards the end of the year setting out an overarching approach to these problems, a very welcome step. There has already been a consultation on the crucial point of double non taxation. TJN submitted to this consultation and Eurodad supported their views. Stakeholders were then invited to submit their general views about this communication and respond to specific questions and suggestions posed by the Commission. A CSO submission was made with contributions and endorsement from Eurodad, Christian Aid, Oxfam International, Kairos Europe, Weed, Concord Denmark, Tax Justice Network, CCFD-Terre Solidaire, Forum Syd and Ibis. The submission made the following key recommendations.   read more   News » Upcoming anti-money laundering directive: Eurodad’s views On 7 November the EC will release a proposal for a revised Anti-Money Directive this represents a massive opportunity for combatting illicit financial flows and promoting development. Earlier this summer the European Commission’s DG MARKT launched a consultation on the anti-money laundering directive. The results of this consultation will inform their new proposal. Eurodad made a submission which was endorsed by LATINDADD and Jubilee USA.   Money laundering facilitates corruption, organised crime, arms smuggling and anti-money laundering rules are also a key mechanism to catch tax evaders and the banks, lawyers, accountants and trust and company service providers (TCSPs) who facilitate them. Whilst Eurodad’s position is still being developed and will be further outlined in a briefing on tax and money laundering due out this autumn, we have identified some key challenges that must be addressed.   read more		What's New   Issue #102   Sepember,05 2012 ACTION ALERTS: Call on MEPs to do the right thing and tell them that you will be watching how they vote. Put politicians under the spotlight. FEATURED MEMBER   WEED (World Economy, Ecology & Development) was founded in 1990 as an independent non-governmental organisation with offices in Berlin and Bonn. Weed is active in the areas of International Financial System and Debts, International Trade and Investment Policy, European and International Environmental and Development Policies.   FACTS AND FIGURES “the health sector, dominate the sample of results-based approaches programs with close to 60% of all aggregated funding. Multi-sector approaches come second with 27% of accumulated funding” Forthcoming Eurodad report on Results-based approaches     FEATURED RESOURCE New website on illegitimate debt: www.deudailegitima.org     EVENTS What: Task Force for Financial Integrity and Economic Development Conference When: 17-18 October, 2012 Where: Tunis, Tunisia     NEW STAFF Diana Hulova is our new Policy and Outreach Analyst. Alessandra Garda is our new Finance, Office & Events Assistant     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

 

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