debt

MSMEs in the Informal Sector: Formalization Ensure Sustainable Finance and Decent Jobs?

About 2 billion workers, or over 60 percent of the world’s adult labor force, operate in the informal  sector –at least part-time, according to the ILO. The COVID-19 pandemic hit informal workers  particularly hard, especially women. Micro Small Medium Enterprises (MSME), both formal and  informal, make up over 90% of all firms around the globe and offer employment to one-third of 1.2  billion people in the world who work in the informal sector. They generate services for other sectors  like small and large industries, retail, tourism, transportation, construction, etc., and contribute to over  30% of GDP and more than 70% of all jobs created in developing countries. MSMEs were heavily  impacted by the pandemic and continue to face existential challenges on various fronts including but  not limited to business formalization.

MSMEs, both formal and informal, make up over 90% of all firms around the globe1 and contribute to more than half of the GDP in most countries irrespective of income2. As many countries struggle to cope with the growing debt burdens and limited fiscal space to finance the SDGs, the important role of MSMEs as catalytic forces for achieving the SDGs cannot be stressed enough. Despite formalization gathering pace, MSMEs and those in the informal sector also continue to struggle to access formal finance. Without the appropriate regulatory reforms, social protection measures, access to formal finance, and capacity building in tools such as financial literacy and numeracy tools to help manage finances effectively, inclusive growth and a decent work environment for those in the sector will remain a challenge. As part of the Development Cooperation Strategy 2020-25, the ILO is forging partnerships that advance policy objectives and coherence within the framework of Integrated National Financing Frameworks (INFFs) that promote Financing Decent Work. In this panel, the speakers will share global and on-the-ground perspectives and explore steps countries are taking through regulatory reforms, access to finance, and capacity building to ensure sustainable finance and decent work for MSMEs in the informal sector.

Register here!

Speakers:  

  • H.E. Mr. Arrmanatha Christiawan Nasir, Ambassador, Permanent Mission of Indonesia to the  UN (TBC) 
  • Ms. Chantal Line Carpentier, Chief, UNCTAD New York Office of the Secretary-General
  • Ms. Adriana Marina, Founder of Hecho por Nosotros & animaná, Argentina
  • Mr. Amar G. Prabhu, Principal of Don Bosco Industrial Training Institute Kurla, Mumbai, India
  • Ms. Sandie Ejang Elobu, CEO, Western Silk Road, Ltd., Uganda 
  • Ms. Nana Efua Brown-Orleans, Program Lead, Duapa Workspace, Ghana 
  • Ms. Estella Kabagaya Eldradaa, Founder, Mama Children Village, Uganda

Organizers: NGO Committee on Financing for Development, Virginia  Gildersleeve International Fund (DBA Women First International Fund), Salesian Missions Inc, Africa  Development Interchange Network, Institute of the Blessed Virgin Mary, Sisters of Charity Federation

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CoNGO Notes: The NGO Committee on Financing for Development is a Substantive Committee of the Conference of NGOs in Consultative Relationship with the United Nations. Likewise, for more information on the NGO Committee on Social Development, please visit ngosocdev.org. For more information on the NGO Committee on Sustainable Development/NY, please visit ngocsd-ny.org. For more information on the NGO Committee on Sustainable Development/Vienna, please visit ngocsdvienna.org. For more information on the NGO Committee on the Status of Women/NY, please visit ngocsw.org. For more information on the NGO Committee on the Status of Women/Geneva, please visit ngocsw-geneva.ch. For more information on the NGO Committee on the Status of Women/Vienna, please visit ngocswvienna.org.

Global Negotiations in a Fractured World

The NGO Committee on Financing for Development cordially invites you to join its annual virtual informal working breakfast

 

More information about the Development Cooperation Forum is available here: un.org/development/desa/financing/events/2023-development-cooperation-forum-dcf.

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CoNGO Notes: The NGO Committee on Financing for Development is a Substantive Committee of the Conference of NGOs in Consultative Relationship with the United Nations. Likewise, for more information on the NGO Committee on Sustainable Development/NY, please visit ngocsd-ny.org. For more information on the NGO Committee on Sustainable Development/Vienna, please visit ngocsdvienna.org. For more information on the NGO Committee on the Rights of Indigenous Peoples, please visit un-ngocrip.net. For more information on the NGO Committee on Social Development, please visit . For more information on the NGO Committee on Disarmament, Peace, and Security, please visit ngocdps.wordpress.com.

[monthly meeting] NGO Committee on Financing for Development

Dear colleagues,

Happy New Year! The NGO Committee on Financing for Development would like to cordially invite you to its first regular monthly meeting of the year, to be held virtually on Tuesday, January 17, from 1:00pm – 3:00pm.

Please register in advance for this meeting here!

A zoom link will be emailed to you after registering. We hope to see you then.

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CoNGO Notes: The NGO Committee on Financing for Development is a Substantive Committee of the Conference of NGOs in Consultative Relationship with the United Nations. Likewise, for more information on the NGO Committee on Sustainable Development/NY, please visit ngocsd-ny.org. For more information on the NGO Committee on Sustainable Development/Vienna, please visit ngocsdvienna.org

Financing for Development in a Fractured World

Join the NGO Committee on Financing for Development for an important look at FfD in a contemporary context, knowing that the repercussions of COVID-19 and climate destruction are here to stay, at least for the foreseeable future.

Date and Time: 8:30 am – 10:00 am EST on November 9, 2022

Please register in advance: https://us02web.zoom.us/meeting/register/tZwuduutpjguGtENOtCZCf-EtA7AD0azr_Wu

Objective: The General Assembly will decide during the current session whether it is ready to convoke the fourth Financing for Development (FfD) conference in the next few years. The global economy is in a difficult situation, especially for development, underlining the need for more effective international economic and financial cooperation. While it is not obvious that the international community as a whole is currently ready to effectively address the pending issues, it is time to start to try to build a new global consensus on financing for sustainable development.

The objective of the NGO Committee on FfD in organizing this workshop is to build the capacity of NGOs/CSOs that focus on a range of economic, social, and environmental issues to engage effectively in the FfD processes and to share updates on the current FfD discussions. While the session is geared towards NGOs/CSOs already engaged with UN processes, it is open to anyone interested in gaining an understanding of FfD. Speakers will provide a perspective of the FfD processes, clarify the larger impact of FfD-related decisions on the achievements of the 2030 agenda, and share insights on current developments and areas that require urgent action and strengthened advocacy efforts.

Read the full concept note here!

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CoNGO Notes: The NGO Committee on Financing for Development is a Substantive Committee of the Conference of NGOs in Consultative Relationship with the United Nations. Likewise, for more information on the NGO Committee on Sustainable Development/NY, please ngocsd-ny.org. For more information on the NGO Committee on Sustainable Development/Vienna, please visit ngocsdvienna.org. For more information on the NGO Committee on the Rights of Indigenous Peoples, please visit facebook.com/NGOCoRIP.

NGO Committee on Financing for Development regular monthly meeting

Join the NGO Committee on Financing for Development for their regular monthly meeting on November 4 from 1:00 – 3:00 pm EST at the Baha’i International Community Office at 866 UN Plaza, with Zoom access capabilities for those who are unable to attend in person. As the conference room can accommodate up to 25 participants, in-person attendance will be on a first come first served basis for those who have registered at this link by 4:00 pm October 31.

To attend virtually, kindly register to receive the Zoom access link here: https://us02web.zoom.us/meeting/register/tZctdu6urD4qGdG5uqTnKvZAqzQHuY_QnaQq
 
The agenda, minutes of the last meeting, and resource material are being uploaded to the meeting folder here.
 
Note to members:
Save the Date for upcoming FfD workshop! The Committee’s annual workshop on FfD, titled “Financing for Development Post COVID” will be held on November 9 from 8:30 am – 10:00 am via Zoom. This workshop is being organized by the Executive Committee.  Interested participants are encouraged to register here.

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CoNGO Notes: The NGO Committee on Financing for Development is a Substantive Committee of the Conference of NGOs in Consultative Relationship with the United Nations. Likewise, for more information on the NGO Committee on Sustainable Development/NY, please visit ngocsd-ny.org. For more information on the NGO Committee on Sustainable Development/Vienna, please visit ngocsdvienna.org.

Parents’ Role in Fostering the Financial Literacy of Their Children

The NGO Committee on the Family invites you to join their first fall event of the year, in which attendees will hear from Susan Beacham and a New York banker about educating parents on how to raise financially responsible children.

This event will be held virtually via Zoom. Register here!

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CoNGO Notes: The NGO Committee on the Family/NY is a Substantive Committee of the Conference of NGOs in Consultative Relationship with the United Nations. Likewise, for more information on the NGO Committee on the Family/Vienna, please visit viennafamilycommittee.org. For more information on the NGO Committee on Financing for Development, please visit ngosonffd.org. For more information on the NGO Committee on Education, Learning, and Literacy, please visit facebook.com/NGOCELLatUN. For more information on the NGO Committee on Children’s Rights/NY, please visit childrightsny.org. For more information on the NGO Committee on Social Development, please visit ngosocdev.org.

Smart Solutions for Better Business: Is Your Enterprise Future-Ready?

CACCI is pleased to invite members and friends to join the webinar on “Smart Solutions for Better Business: Is Your Enterprise Future-Ready?” which will be held on October 4, 2022 at 2:00 PM Taipei time (GMT+8).

To register, please visit bit.ly/SmartBizSolutions.

The webinar aims to introduce successful cases of smart solutions in various fields of business. Experts will be invited to present various smart solutions applicable to business and provide the opportunity to discuss potential collaboration among businessmen in the Asia-Pacific region.

The 90-minute session will be moderated by Herman Sameisky, the International Director of Taiwan Smart Solutions Association. Mr. Samiesky is a technical communicator and data analyst who has previously worked for Google and Amazon.

(1) James Chiao, Chairman of the Asian ICT Council at CACCI and the Smart Cities Committee at CIECA-Taiwan; Founding President of Taiwan Smart Solutions Association; and CEO of Smart Cities Consulting, Ltd, Co.  will talk about the COVID-19 Pandemic’s impact on and opportunities for businesses. In particular, he will discuss the digital transformation of businesses, how smart solutions can optimize them, and how glocalization is a win-win business model for international partnerships.

The session will then delve into case studies of smart solutions for businesses.

(2) Joni Kuo, Chairman of Softfoundry International Pte Ltd., will introduce FacePro  “5G+AR Remote Xpert” Smart Service,” which enables experts to remotely guide on-site personnel with 4K ultra-high-definition video from the first perspective and conduct troubleshooting and maintenance, which not only improves maintenance efficiency and ensures safety, but also results in a sharing of expertise and technology.

(3) Shao-Jen Weng, CEO of Healthcare Systems Consortium (HSC), will focus on how hospitals and health systems are positioning their organizations for the future in a post-pandemic world, and the top 10 healthcare industry trends and innovations that impact healthcare companies worldwide.

(4) Bruce King, Marketing Director of GoodLinker Co., Ltd., will look into the two common barriers manufacturing SMEs face in reaching digital transformation to be smarter and more efficient. He will also tackle the benefits of Industry Internet of Thing (IIoT), and the service model with glocalization eco-system. Examples of different industry application cases will also be presented.

(5) The session will conclude with a Q&A.

Please note that registrants will also receive a link to the webinar’s video and presentation documents after the session.

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CoNGO Notes: For more information on the NGO Committee on Financing for Development, please visit ngosonffd.org. For more information on the NGO Committee on Sustainable Development/Vienna, please visit ngocsdvienna.org. For more information on the NGO Committee on Sustainable Development/New York, please visit ngocsd-ny.org. For more information on the NGO Committee on Social Development, please visit ngosocdev.org

Can Harnessing Blue and Thematic Bonds Build a Sustainable, Regenerative Ocean Economy?

On Wednesday, June 29, at 1pm ET, join the NGO Committee on Financing for Development for an official virtual side event of the 2022 UN Ocean Conference!

A multilateral expert panel will discuss what blue and thematic bonds are, how they’re working in practice, and how to optimize them as building blocks toward a regenerative, sustainable ocean economy.

Register here: us02web.zoom.us/meeting/register/tZEvc–%20%20prD4sG9eXXTtidrPei5J2Xe3tQPb8

Speakers:

  • H.E. Mr. Ian Dereck Joseph Madeleine, Ambassador, Permanent Mission of Seychelles to the United Nations
  • Mr. Stephen M. Liberatore, Head of ESG/Impact – Global Fixed Income for Nuveen, a private investor in the Seychelles blue bond
  • Mr. Greg Fisk, Global Lead – Climate Risk and Resilience, Senior Principal Consultant, BMT
  • Mr. Nicola Mercusa, Sustainable Finance Hub, Debt and Bond issuance expert advisor, UNDP H.E. Leon Kaulahao Siu, Minister of Foreign Affairs, Kingdom of the Hawaiian Islands
  • Dr. Megan Davis, Ph.D., Research Professor, Florida Atlantic University, Harbor Branch Oceanographic Institute/ Queen Conch Lab
  • Additional NGO speakers to be confirmed

Moderator:

Ms. Anita Thomas, Chair, NGO Committee on Financing for Development; Representative to the UN, Women First International Fund (formerly Virginia Gildersleeve International Fund)

Co-organizers:  General Board of Church and Society of The United Methodist Church, PEAC Institute, ManUp Campaign, United Religions Initiative, Dominican Leadership Conference, Africa Development Interchange Network, Conference of NGOs in Consultative Relationship with the United Nations (CoNGO), Temple of Understanding

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CoNGO Notes: The NGO Committee on Financing for Development is a Substantive Committee of the Conference of NGOs in Consultative Relationship with the United Nations. For more information on the NGO Committee on Sustainable Development-Vienna, please visit congocsd.wordpress.com. For more information on the NGO Committee on Sustainable Development-NY, please visit ngocsd-ny.org.

Financing for Universal and Crisis-Responsive Social Protection and Decent Work: Proposals of 2021 UN Inter-Agency Working Group

Join the NGO Committee on Financing for Development on Tuesday, April 26, from 8 – 9:30am EST for an official side event of the 2022 ECOSOC Financing for Development Forum on Financing for Universal and Crisis-Responsive Social Protection and Decent Work: Proposals of 2021 UN Inter-Agency Working Group

Speakers:

  • H.E. Mr. Phillippe Kridelka, Ambassador, Permanent Representative of Belgium to the United Nations
  • Mr. Helmut Schwarzner, Senior Social Security Specialist for the Americas, Social Protection Department, ILO Geneva
  • Mr. David Stewart, Chief of Child Strategy and Social Protection, UNICEF
  • Dr. Santosh Mehrotra, Research Fellow, IZA Institute of Labor Economics, Bonn, Germany
  • Ms. Tikhala Itaye, Director, Global Movement Building, Women in Global Health

Moderator: Dr. Barry Herman, Member Advisory Board, Social Justice in Global Development

Register here: https://us02web.zoom.us/meeting/register/tZYsfuqqrjwiHtLVutntuRo0xgsa9K_vEKxP

Co-sponsors: Vivat International, Women First International Fund, Salesian Missions, International Labour Organization, World Vision, Social Justice in Global Development

Background: Social protection refers to assuring a basic income floor and access to basic healthcare throughout the life cycle. It should be provided universally to all people in need, but that is far from current practice. While decent jobs, including self-employment, are mainly in the private economy, meeting the qualifications for most jobs usually requires education and good health, which are primarily public service functions. Thus, programs to promote social protection and decent jobs entail adequate, effective, and fair national systems of taxation, complemented by international assistance, often in the form of technical assistance but also sometimes in aid-financed budget support, as for low-income countries.

The experience of the pandemic laid bare inadequate systems to deliver cash transfers to compensate for the economic costs of the crisis and inadequate public health systems to deliver vaccines, tests, and protective equipment, along with the very limited capacity, especially in developing countries, to maintain employment during the crisis-induced economic contraction. The pandemic experience requires us to think about preparing better “shock responsive” social protection and health systems and stronger counter-cyclical policies. Preparation, in turn, requires consideration of ways to mobilize the necessary domestic and international financial resources on an ongoing basis and with the capacity to meet the higher expenditure needs at times of crisis.

While the inter-agency report concluded with 21 separate proposals, speakers in the side event will be asked to discuss one or more of the proposals. There is no expectation that all 21 proposals would be covered, nor is that necessary. What is necessary is to bring the attention of the FfD Follow-up Forum for consideration by policymakers the work of the 16 cooperating agencies in the task force and the civil society, labor, employer, and youth stakeholders that were consulted in preparing the report.

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CoNGO Notes: The NGO Committee on Financing for Development is a Substantive Committee of the Conference of NGOs in Consultative Relationship with the United Nations.

Exploring Digital Finance’s Real Promises and Challenges for Development

Exploring Digital Finance’s Real Promises and Challenges for Development

Join the NGO Committee on Financing for Development on Wednesday, 27 April 2022, 8:00 a.m. – 9:30 a.m. EDT for this official side event to the 2022 ECOSOC Financing for Development Forum.

Register here: https://us02web.zoom.us/meeting/register/tZ0qc-6orjsuGdFhyWHfljp7ZNxV526Onoc7

Speakers:

  • Ms. Cina Lawson, Minister of Digital Economy and Transformation of the Republic of Togo (TBC)
  • Dr. Purva Khera, Economist, International Monetary Fund
  • Mr. Johannes Ehrentraud, Senior Advisor, Financial Stability Institute, Bank for International Settlements
  • Ms. Sofie Blakstad, CEO of hiveonline and author of Fintech Revolution: Universal Inclusion in the New Financial Ecosystem
  • Ms. Anneleen Vos, Seionr Economic Policy Officer, International Rescue Committee
  • Mr. Prabhat Labh, CEO, Grameen Foundation India
  • Ms. Mercy Buku, Program Leader, Toronto Center

Moderator: Mx. Anita Thomas, Chair, NGO Committee on FfD, Representative to the UN, Women First International Fund

Co-sponsors: ManUp Campaign, Change Management Solutions, Sisters of Charity Foundation, African Development Interchange Network, IBVM

Background:

The UN Secretary General’s task force on digital finance in its report titled “People’s Money: Harnessing Digitalization to Finance a Sustainable Future,” spells out the transformational impact digital finance can have on sustainable development. Providing relief for millions around the world, supporting businesses, and protecting jobs and livelihoods, digital finance served as a lifeline during the COVID-19 pandemic. A World Bank tally of policy responses to the pandemic finds that at least 58 governments in developing countries used digital payments to deliver COVID-19 relief, of which 36 countries made payments into fully transactional accounts that were being used for saving beyond simply withdrawing cash. According to the GSMA, international remittances processed via mobile money increased by 65 percent in 2020.

Proponents of digital finance highlight its strong capabilities to reduce transaction costs, the potential of Artificial Intelligence to provide fair and equitable treatment of credit applicants, and the scalability of cloud technology, through the use of blockchain technology, to allow consumers to transact remotely and seamlessly across multiple platforms.

While the experience of COVID-19 has proven that digitalization can transform economies and lives, it needs to be shaped with both its advantages and potential risks in mind in order to bring everyone into the digital age. For technology to benefit everyone, private sector innovation must be supported by the appropriate public goods such as the public provision of foundational infrastructure, access to electricity, mobile and internet coverage.

As in the case of any disruptive technology, without combining technological advances with sound policy measures, digital technology cannot deliver on its potential to meaningfully advance financial inclusion for everyone, including the more than 2 billion unbanked people globally. Delivering on promises to advance financial inclusion can only be considered meaningful when the account holder has a fully functional account that they utilize to save, make payments, obtain manageable credit, and mitigate economic risks and is simply not utilized to withdraw cash from cash transfers from the government, which is overwhelmingly the case at this time.

By examining successful strategies that maximize digital finance’s potential while minimizing risks to the financial sector, government revenues, and at-risk populations, attendees will gain a better understanding of how digital finance can sustainably advance development objectives.

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CoNGO Notes: The NGO Committee on Financing for Development is a Substantive Committee of the Conference of NGOs in Consultative Relationship with the United Nations.

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