ILO: Fundamental Rights can help build back better from COVID -19 Crises

A new International Labour Organization (ILO) paper says, Fundamental principles and rights at work can play a vital role in building effective, consensus-based responses that support recovery from the COVID-19 crisis and help build back a better, more just, world of work. However, the paper also warns that the crisis has placed these same freedoms… [Read More]

USAID invests more than $28 million to advance Energy markets in South Asia

The U.S. Agency for International Development (USAID) has announced new activities valued at more than $28 million to advance regional energy markets in South Asia. The assistance advances the U.S. Government’s Asia EDGE (Enhancing Development and Growth through Energy) initiative, which works to strengthen energy security and expand access to energy across the Indo-Pacific region…. [Read More]

$484 million ADB Project to build New GMS Expressway in Myanmar

The Asian Development Bank (ADB) has approved a $483.8 million project to build a 64-kilometer (km) expressway connecting the capital of Bago region and the township of Kyaikto in Mon state in Myanmar and support economic development along the Greater Mekong Subregion (GMS) East–West Economic Corridor. ADB Senior Transport Specialist, Shihiru Date said: “The Second… [Read More]

World Bank approves $80 million project to bolster Nepal’s Agriculture sector

The World Bank approved a $80 million project to bolster Nepal’s agriculture sector by strengthening rural market linkages and promoting entrepreneurship while creating jobs to support post-COVID-19 recovery. The Rural Enterprise and Economic Development (REED) Project will promote market linkages to support the growth of rural enterprises, especially those that are women-led. A key focus… [Read More]

$200 million Program to aid Georgia’s Economic Recovery from COVID-19

Today, the Asian Development Bank (ADB) has approved a $200 million policy-based program to aid Georgia’s recovery from the coronavirus disease (COVID-19) pandemic by addressing key fragilities in the country’s public financial management and social protection systems. The Fiscal Resilience and Social Protection Support Program is part of ADB’s comprehensive and integrated package of support… [Read More]

COVID-19/Mongolia: $410,000 assistance to manage food insecurity risks

The Asian Development Bank (ADB) has approved a $410,000 technical assistance (TA) grant to help manage food insecurity risks amid supply disruptions caused by the coronavirus (COVID-19) disease pandemic in Mongolia.  ADB Director for Environment, Natural Resources, and Agricultural Development in East Asia, Qingfeng Zhang said: “Together with its severe economic impacts, the COVID-19 pandemic… [Read More]

Russell Family Foundation awards impact investments, grants

The Russell Family Foundation has announced impact investments and grants totaling more than $15 million. The investments include $5 million to Ownership Capital, a mid-cap equity manager pursuing deep ESG (environmental, social, and corporate governance) shareholder engagement; $3.5 million to Marcho Partners, which invests in growth companies delivering positive technology-led social change outside the United… [Read More]

OSF commits $5 million for investment in race and gender equity

The Economic Justice Program at the Open Society Foundations has committed $5 million to Illumen Capital, a majority Black-owned firm, in support of a new fund focused on addressing racial and gender bias in investment decisions. Awarded through the Soros Economic Development Fund, the foundation’s impact investing arm, the fund will support an innovative strategy… [Read More]

€30m EBRD Support to boost financial stability in Bosnia and Herzegovina

The European Bank for Reconstruction and Development (EBRD) is providing a financial support of €30 million to the Deposit Insurance Agency of Bosnia and Herzegovina (DIA) to ensure that citizens and businesses are protected against potential vulnerabilities in the financial sector during the coronavirus pandemic. The new facility will safeguard the financial sector and strengthen the deposit insurance… [Read More]

EIB and IFD Join Efforts to upgrade elderly care infrastructure

The European Investment Bank (EIB) and the Instituição Financeira de Desenvolvimento (IFD) have joined efforts to finance a €400 million investment programme aimed at upgrading infrastructure for the long-term and elderly care across Portugal, involving approximately 150 projects. The funds will be channelled to third-sector entities already providing services for the elderly in Portugal, in… [Read More]

IsDB Group’ Report highlights actions to address Covid-19 Crisis

The Islamic Development Bank (IsDB) Group has published a preliminary report highlighting the actions taken to help member countries to tackle the crisis triggered by the Covid-19 pandemic. Coordinated by the Working Group to Study the Impact of the Covid-19 Pandemic on the Islamic Finance Industry, the report is a discussion draft released for the… [Read More]

COVID-19: PAHO minimizes disruption of critical medications and supplies

The Pan American Health Organization (PAHO) through its Strategic Fund for Essential Medicines and Public Health Supplies quickly responded to support countries in Latin America and the Caribbean. The fund facilitated procurement of critical products and minimized supply chain disruptions by working with three key stakeholder groups – regional and national health authorities, technical experts,… [Read More]

USD 200 million financial support for projects in Latin America

The Export Import Bank of Korea(KEXIM) granted a USD 200 million revolving uncommitted credit facility to CAF—development bank of Latin America— with the aim of fostering high-quality infrastructure investments and sustainable growth in the region in CAF-funded projects with Korean content. Projects in Latin America involving the export of goods and services from a Korean… [Read More]

NDF to boost Climate work in Developing Countries with EUR 350 million in funding

The Nordic Development Fund (NDF) to get additional capital of EUR 350 million from Finland, Iceland, Norway, Sweden, and Denmark. Finland’s share of this capital increase will be EUR 58.1 million. The Nordic Development Fund promotes climate change mitigation and adaptation to climate change especially in the least developed countries and countries in fragile situations…. [Read More]

COVID-19: €39m EU Support for nutritional and social protection in Malawi

As part of Team Europe’s response to COVID-19 in Malawi, the European Union has issued €39 million to alleviate the negative effects of the COVID-19 pandemic. The funding will address the increasing needs of vulnerable parts of the population in the field of nutrition and social protection, including pregnant women and children. Commissioner for International Partnerships,… [Read More]

UN raise concerns over displaced children in Yemen

The Food and Agriculture Organization of the United Nations (FAO), the United Nations Children’s Fund (UNICEF), the World Food Programme (WFP) and other partners have released the latest Integrated Food Security Phase Classification (IPC) Acute Malnutrition analysis which is extremely concerning. With limited access to food, humanitarian services, and health care, displaced children in Yemen… [Read More]

OPEC Fund and BOAD collaborate to boost cooperation in Western Africa

The OPEC Fund for International Development (the OPEC Fund) and the West African Development Bank (BOAD) have signed a Framework Agreement to further strengthen their development cooperation in the member countries of the Western African Economic and Monetary Union (WAEMU): Benin, Burkina Faso, Côte-d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal, and Togo. The agreement focuses on increased… [Read More]

EIB: €38 million Financing to secure drinking water supply in Tunisia

The European Investment Bank (EIB), the financing institution of the European Union, has signed two finance contracts totalling €38 million with Tunisia and the National Water Distribution Utility (SONEDE) to secure the drinking water supply in Tunisia. The financing will have a strong impact on the ever-growing population in the capital, Tunis, and the three… [Read More]

Calvert Impact Capital expands relationship with Fund

Global impact investor Calvert Impact Capital has acquired financial support totaling $41 million originated by the Fund in Latin America. The transaction will enable Calvert to directly support financing for biodiversity conservation projects in the region and make it possible for the public-private fund to originate more green investments and expand its impact.… [Read More]

$5 million awarded to support Entrepreneurship

The Ressler Gertz Family Foundation has announced a $5 million gift in support of the Herman J. Russell Center for Innovation and Entrepreneurship (RCIE) as part of a long-term, comprehensive plan to provide financial, marketing, and educational resources to Black-owned businesses in Atlanta. The commitment from the foundation, the primary philanthropic vehicle of Atlanta Hawks… [Read More]