Development Finance Watch, Issue 103‏

Eurodad Newsletter September 20, 2012 - Issue# 103   European Network on Debt and Development DEVELOPMENT FINANCE WATCH

 

Top Story » PRESS RELEASE: Oxfam-Eurodad reaction to MEPs’ vote on EU reporting rules for extractive industries   Brussels, 18 September 2012 Today the European Parliament’s Legal Affairs Committee (JURI) voted in favour of assuming a strong position on European anti-corruption legislation, which would oblige oil, gas, mining firms and the logging industry to report what they pay to governments in countries in which they work.   International agency Oxfam and the European Network on Debt and Development (Eurodad) welcome the MEPs’ ambitious proposal on this legislation, which would not only fight against corruption in the extractive or forestry sectors but also in others like banking, telecommunications and construction. MEPs also sent a clear signal that in three years, they want to review the EU Accounting Directive to boost transparency which could help both developing countries and EU member states to combat tax evasion and avoidance.   read more     News » An updated summary of “How to spend it: smart procurement for more effective aid” report Procurement is a keystone in development finance. Eurodad estimates that US$ 69 billion of aid money is spent on procuring goods and services annually either by donors or by recipient countries, more than 50% of total Official Development Assistance (ODA). Procurement practices are, therefore, key to ensure that aid delivers the best development results. More than ten years after initial agreements to untie aid, two thirds of contracts awarded by bilateral donors still go to firms from Organisation for Economic Cooperation and Development (OECD) countries.   Aid untying is essential for smart procurement as well as the use of country systems, which increases ownership and domestic accountability, and improves the chances for local firms to win contracts. Much more can and must be done to fully exploit the potential of targeted and wellregulated procurement, which can yield a double dividend for poverty eradication and sustainable development.   read more     News » NGOs meet at the 20th EuroIFInet meeting to prepare for the World Bank and IMF Annual Meetings. Last week the European network of IFI (International Financial Institution) watchers – the EuroIFInet – met in Amsterdam for its 20th Annual Meeting to review strategically of its last 10 years of activism. In addition, NGO actions for the Annual Meetings of the World Bank and the IMF, which this time are taking place in Tokyo from 9 to 14 of October.   read more     News » The European Parliament votes for minimum tax rates on royalties and makes it harder for business to dodge taxes On September 11th the European Parliament voted in favour of introducing a minimum tax rate on interests and royalty income. This is a crucial step in the fight against tax dodging by multinational companies. Royalties and interest payments made between subsidiaries of the same company are two of the main instruments used by multinational companies to evade taxes, at the moment this is far too easy.   read more     News » SAVE THE DATE: Eurodad/Glopolis International Conference 2013 Eurodad / Glopolis International Conference 2013 on “Debt, finance and economic crisis – consequences and solutions” will be held on 3-5 June, 2013 in Prague, Czech Republic.   The Eurodad bi-annual conference is a leading forum for discussion, ideas-sharing and collective strategizing for activists working on finance and development.   read more

What's New   Issue #103   September 20, 2012 ACTION ALERT Stop the Blackout Coverage of the LIBOR Scandal     FEATURED MEMBER   GLOPOLIS is an independent think-tank dedicated to creating a more responsible economy, smarter energy policies and stable food markets.     FACTS AND FIGURES ‘Most donors are taking steps towards results with their own domestic accountability in mind. DfID, for instance, released its results framework in autumn 2011, a year after the arrival in power of a new UK government, thus clearly responding to a new push for results taking place across all the UK’s public administration sector’ Upcoming Eurodad Report on results-based approaches and aid effectiveness.     QUOTE “If we don’t deal with growing domestic and private debt now we will be in a debt crisis again." Fanwell Bokosi, AFRODAD.   FEATURED RESOURCE AFRODAD website: www.afrodad.org     EURODAD IN ACTION Jeroen Kwakkenbos presented the Aidwatch report as well as responded to the EU accountability report in DEVE Committee, 17 September, Brussels.   Jeroen Kwakkenbos and Carlos Villota participated at the 20th EuroIFInet annual meeting, 10-11 September, in Amsterdam.     EVENTS What: Annual Meetings of the IMF and WB When: 9 - 14 October, 2012 Where: Tokyo, Japan   What: Climate finance – state of play & experience sharing Seminar When: 25 September, 2012 Where: Prague, Czech Republic     NEW STAFF Diana Hulova is the new Policy and Outreach Analyst at Eurodad.   Iolanda Fresnillo is the new Policy and Advocacy Officer at Eurodad.   Alessandra Garda is the new Finance, Office & Events Assistant at Eurodad.     MEDIA MENTIONS Eurodad was mentioned by The Guardian on EU legislators aim for tougher law on oil, gas and mining payments.     VACANCIES Eurodad seeks a Policy and Advocacy Officer and a new Events, communications, research and office management intern.     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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