The Arab Coordination Group (ACG) comprising of Arab Financial Development Institutions has approved/committed US$ 8.6 billion financing for developing countries to help them tackle the economic impact of the COVID-19 Pandemic. Earlier, on 18 May 2020, at the invitation of the Islamic Development Bank (IsDB), the ACG Institutions agreed to pledge US$ 10 billion for a coordinated initiative to address and mitigate the negative impacts of the novel Coronavirus Pandemic on developing countries. … [Read more...] about ACG approves US$ 8.6 billion to help countries tackle Economic Impact of COVID-19
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UN and Partners launch appeal to support people affected by Tropical Storm Eta
The UN and humanitarian partners have launched a Flash Appeal to respond to the needs of 450,000 of the most vulnerable people affected by Tropical Storm Eta. Response efforts continue as the heavy rains brought by Eta triggered floods countrywide, causing catastrophic damage across nearly all of Honduras and generating significant humanitarian needs with more than 2 million people affected. The plan calls for US$69.2 million in support of the Government’s response. The passage of Eta has … [Read more...] about UN and Partners launch appeal to support people affected by Tropical Storm Eta
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Nepal: $350m agreements to support urban development and financial sector
The Government of Nepal and the World Bank have signed two separate agreements totalling $350 million yesterday that will brace up urban governance and the financial sector in Nepal in support of the country’s COVID-19 resilience and recovery efforts. The agreements for the Nepal Urban Governance and Infrastructure Project and the Finance for Growth Development Policy Credit were signed by Finance Secretary Mr. Sishir Kumar Dhungana on behalf of the Government of Nepal, and the World Bank … [Read more...] about Nepal: $350m agreements to support urban development and financial sector
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LIFE Programme: Over €280 million in EU funding for Environment and Climate Action projects
The European Commission has approved an investment package of more than €280 million from the EU budget for over 120 new LIFE programme projects. This EU funding will trigger total investments of nearly €590 million to help meet these projects’ ambitious goals for environment, nature, and climate action. This amount represents a 37% rise compared to last year. The projects will help to achieve the European Green Deal objectives by supporting the EU Biodiversity Strategy and the Circular … [Read more...] about LIFE Programme: Over €280 million in EU funding for Environment and Climate Action projects
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France supports WFP boosting resilience of vulnerable families in Sudan
The United Nations World Food Programme (WFP) welcomed a €500,000 contribution from France to boost the resilience of chronically food-insecure families in Sudan. The funding will help more than 41,000 people in South Kordofan by reducing post-harvest losses through training smallholder farmers and supporting social protection programmes. WFP Sudan Representative, and Country Director, Dr. Hameed Nuru said, "Building resilience in Sudan is a long-term process that requires the sustained … [Read more...] about France supports WFP boosting resilience of vulnerable families in Sudan
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Development Banks collaborate to assist countries affected by Hurricane Eta
The Inter-American Development Bank (IDB), the World Bank and the Central American Bank for Economic Integration (CABEI) will collaborate to assist the Central American countries hit hardest by Hurricane Eta. Representatives of the three development banks met virtually to marshal international resources for the Central American countries. The joint action plan will include short-, medium- and long-term financing for humanitarian aid and reconstruction … [Read more...] about Development Banks collaborate to assist countries affected by Hurricane Eta
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COVID-19: Guyana to strengthen public health response with IDB support
Through a US$22 million financial support approved by the Inter-American Development Bank (IDB), Guyana will strengthen its public health response to the COVID-19 health emergency under Contingent Credit Facility for Natural Disaster and Public Health Emergencies. The support will finance public expenditures necessary to contain transmission of the disease and mitigate further health and economic consequences in the country. Given the ongoing global health crisis and its impacts, the … [Read more...] about COVID-19: Guyana to strengthen public health response with IDB support
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Lilly Endowment commits nearly $25m to youth-serving nonprofits
The Indianapolis-based Lilly Endowment has committed nearly $25 million in support of youth-serving organizations facing challenges arising from the COVID-19 pandemic. Awarded through the foundation's Youth Program Resilience Fund (YPRF), which was launched in July with a $20 million commitment from the endowment, the grants will support nearly three hundred nonprofits in fifty-seven counties across the state of Indiana. Lilly Endowment Vice President for education, Ted Maple stated, … [Read more...] about Lilly Endowment commits nearly $25m to youth-serving nonprofits
EBRD and Baltic states Join Efforts to develop commercial paper market
The European Bank for Reconstruction and Development (EBRD) and the central banks of Estonia (Eesti Pank), Latvia (Latvijas Banka) and Lithuania (Lietuvos Bankas) are joining efforts to develop a regional market for commercial papers. Commercial papers (CPs) are short-term unsecured promissory notes issued by companies with a fixed-term maturity and used to address short-term liquidity or working capital needs. Demands for such alternative sources of finance are rapidly increasing in the … [Read more...] about EBRD and Baltic states Join Efforts to develop commercial paper market
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Virtual | 8th IMF Statistical Forum: Measuring the Economics of a Pandemic
Due to the travel restrictions related to COVID-19, IMF will convene it 8th Statistical Forum: Measuring the Economics of a Pandemic virtually. This year’s virtual Statistical Forum will be held over three days, November 17, 2020, to November 19, 2020, with only morning sessions (Washington, D.C. time) to overlap as much as possible with different time zones. Although the conference will be virtual, it will offer lively debates, interactions, and other networking opportunities. The … [Read more...] about Virtual | 8th IMF Statistical Forum: Measuring the Economics of a Pandemic
