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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.

Understanding Public Attitudes towards Migrants Beyond Polarization

Dear GMPA network,

To mark the 2021 International Migrants Day, the Organization for Security and Co-operation in Europe (OSCE) – the Office of the Co-ordinator of OSCE Economic and Environmental Activities (OCEEA) – in cooperation with the International Labour Organization (ILO) and the European University Institute (EUI) are glad to invite you to participate to the event Understanding Public Attitudes towards Migrants Beyond Polarization, taking place on Friday 17 December from 14:30 to 17:30.

By discussing the challenges related to an increasing polarized debate about migration and migrants, the event will offer the opportunity to illustrate the E-MINDFUL project that OCEEA, ILO and EUI are implementing jointly. Concept Note and draft programme herewith enclosed for further information.

Addressed to delegations of the OSCE participating States and Partners for Co-operation, the ILO’s constituents, key stakeholders, experts, civil society representatives and academia, the event will be organized in blended format, combining online participation via VTC Zoom with limited in-person access to the OSCE Hofburg premises in Heldenplatz, Vienna, Neuer Saal.

The working language will be English. 

Kindly register by sending an email to Magda Jugheli: Magda.Jugheli@osce.org before Wednesday 15 December. When registering, participants are requested to indicate if they will participate at the Hofburg in Vienna, or virtually via zoom.

Looking forward to your participation.

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CoNGO Notes: For more information on the NGO Committee on Migration, please visit ngo-migration.org. For more information on the NGO Committee on Disarmament, Peace, and Security, please visit ngocdps.wordpress.com. For more information on the NGO Committee on the Rights of Indigenous Peoples, please visit facebook.com/NGOCoRIP.

2021 SDG Investment Fair

You are invited to the United Nations SDG Investment Fair, 14-15 December 2021.

The SDG Investment Fair brings together top institutional investors with sustainable development projects in developing countries. Out of a pool of applicants, 3 countries are chosen to present their projects as investors of all sizes scout for lucrative investment opportunities across Asia, Africa, and Latin America that advance the United Nations Sustainable Development Goals (SDGs). In September, the Fair was held virtually with Pakistan, Rwanda, and Dominican Republic showcasing their sustainable development projects in manufacturing, infrastructure, and agri-business. The Fair returns this December amidst growing demand for a dedicated space to connect investors with impactful business opportunities. The finalists taking stage at the December fair are Ukraine, Morocco, and Namibia. As the pandemic restrictions begin to lift, the SDG Investment Fair in December 2021 will offer both in-person and virtual spaces for networking, pitches of projects, investor exchanges, knowledge sharing, and informational sessions. The Fair will feature:

  • Presentations of investment opportunities in SDG projects
  • Expert panel discussion on leveraging Public Development Banks to drive financing for the SDGs
  • Informational session on available resources on SDG investments from within the UN ecosystem
  • Direct interaction between countries and investors

To register, please click here or visit our website for more information, including a detailed agenda. Best regards,The SDG Investment Fair team

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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-NY, please visit ngocsd-ny.org. For more information on the NGO Committee on Sustainable Development-Vienna, please visit congocsd.wordpress.com.

Democracy for Human Rights Through CEDAW

Date: Thursday, 9 December 2021Time: 11:00am EST Find your timezone here.On Thursday, 9 December, NGO CSW/NY will be hosting an official side event of The Summit for Democracy convened by the U.S. Department of State, Democracy for Human Rights Through CEDAW. The interactive panel will bring together human rights experts, political leaders, and grass-roots women’s groups to showcase a Cities for CEDAW (Convention on the Elimination of All Forms of Discrimination against Women) campaign.

Register here!

Speakers:
  • Soon-Young Yoon, UN Representative for the International Alliance of Women
  • Houry Geudelekian, Chair, NGO CSW/NY
  • Dubravka Simonovic, Former Member of the CEDAW Committee & Former Special Rapporteur on Violence Against Women
  • Rangita de Silva de Alwas, Assistant Dean of International Affairs, University of Pennsylvania Law School
  • Alda Facio, Former Member of the UN Working Group on Discrimination against Women and Girls
  • Krishanti Dharmaraj, Executive Director, Center for Women’s Global Leadership, Rutgers University
  • Moderated by Terry Dale Ince, CEDAW Committee of Trinidad/Tobago

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CoNGO Notes: The NGO Committee on the Status of Women-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 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. 

Revisiting Financing for Development

In preparing to mark the 20th  anniversary of the first United Nations International Conference on Financing for Development held in Monterrey, Mexico in March 2002, a process that promised so much, it is only prudent to reflect on the history of the Financing for Development (FfD) processes, especially considering the negative impact of the COVID-19 pandemic on efforts to curb the widening of the gap between the rich and poor, both within and among countries. During these trying times, the poor and the most vulnerable are left at the mercy of ineffective regional and global policies. We are also witnessing the erosion of personal freedoms, even within the so-called bastions of democracy. Individual and corporate greed seems to be dictating the direction of these financial policies.

In light of the pandemic and a looming global recession, the UN Secretary-General Antonio Guterres sounded the alarm: “We must act quickly and decisively to protect people and strengthen societies in the face of this shock, which comes on top of a global climate emergency, soaring inequality and growing discontent with the economic and social order in general.”

The premise of the FfD process has been to eradicate poverty, achieve sustained economic growth and promote sustainable development in an inclusive and equitable global economic system. There needs to be a systemic transformation of the global financial architecture and global division of labor towards achieving a just, green, equitable and gender-sensitive recovery in the current and post-COVID-19 scenario.

Financial regulations that turn a blind eye toward tax-havens are indicators of the extent to which the privatization of wealth has generated today’s culture of shortsightedness. Morality is not arbitrary. The well-being of our planet and its 7.5 billion human inhabitants require a readjustment of perspective that justly distributes wealth, recognizing that shared prosperity sustains life.

As civil society organizations, we have the moral obligation, the responsibility and needed insights, and opportunities to join in advocating to change this narrative. This moment calls for a greater vision of the world that ought to be, than the empty promises of our current global social compact.  This is the time to join forces to remove the malignant growth of addiction to individual/private gain/profit and promote communal gains and wellbeing by advocating for financial structures that support collaboration, transparency, and accountability.

We, as civil society, have the ability and insight to change the narrative. Let us start by reviewing our individual and collective roles and the prospects of the FfD process to invigorate our plan of action to bring about the change for which we have been clamoring.

Register here!

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CoNGO Notes: For more information on the NGO Committee on Financing for Development, an official Substantive Committee of the Conference of NGOs in Consultative Relationship with the United Nations, please visit ngosonffd.org. 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 congocsd.wordpress.com. 

Adequate reparation in the future LBI: The example of mining disasters

Join us for this official side event during the 7th session of the open-ended intergovernmental working group on transnational corporations and other business enterprises with respect to human rights.

Examining the concrete situations in Marinduque Island (the Philippines) and Minas Gerais State (Brazil), panelists will interrogate whether articles in the current draft for the legally binding instrument would support the rights of victims to access justice, individual or collective reparations, and effective remedy.

Register here: https://us02web.zoom.us/webinar/register/WN_sF_Md1ynQ1e4bYxqpoidqw

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CoNGO Notes: For more information on the NGO Committee on the Rights of Indigenous Peoples, please visit facebook.com/NGOCoRIP. For more information on the Committee of Religious NGOs at the United Nations, please visit rngos.wordpress.com. 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 congocsd.wordpress.com.

Public dialogue on the progress of the Inter-agency Task Force on Financing for Development

Dear colleagues,

You are cordially invited to an informal public dialogue on the progress of the Inter-agency Task Force on Financing for Development (IATF on FFD), in preparation for the 2022 Financing for Sustainable Development Report. The public dialogue will be held on the 21st of October (Thursday), 9:00 – 10:30 EDT, virtually via MS Teams.

Representatives from the Secretariat, the five major institutional stakeholders (World Bank Group, IMF, WTO, UNCTAD and UNDP), and other Task Force members will brief Member States and external stakeholders on their work. A short presentation will be followed by an interactive discussion to solicit feedback and input. We welcome the participation of all delegations and all stakeholders in this briefing and look forward to your contributions to the dialogue.

If you are interested in attending the briefing, please click here to register and you will receive a specific calendar invitation for the event.

Background information on the briefing is available on the Task Force website. For further information please contact Mr. Peter Chowla (chowla@un.org), Ms. Poh Lynn Ng (ng6@un.org), and Ms. Jie Wei (weij@un.org).

Kind regards,

Navid Hanif

Director, Financing for Sustainable Development Office, Department of Economic and Social Affairs, United Nations

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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-NY, please visit ngocsd-ny.org. For more information on the NGO Committee on Sustainable Development-Vienna, please visit congocsd.wordpress.com.

Multilateralism & Multi-stakeholderism: Where does accountability for the corporate sector fit in?

Join this UNGA76 side event exploring corporate influence across the United Nations System, and identifying ways in which civil society and all actors can resist corporate influence with a view to build a more accountable and equitable system that operates in the interests of people and planet, rather than profit.

 Register:  bit.ly/AccountabilityForCorporateSector

Speakers will include:

  • Moderator: Barbara Adams, Global Policy Forum
  • Cai Yiping, Development Alternatives for Women (DAWN)
  • Emilia Reyes, Campaign of Campaigns/Equidad de Genero
  • Debbie Stothard, ALTSEAN / Steering Committee of Corporate Accountability Working Group at ESCR-Net

Some guiding questions:

  • How can pushes for inclusivity have unintended consequences for enhancing corporate influence across the United Nations system?
  •  How do states and governments use PPPs and the idea of multistakeholderism to obfuscate responsibilities to their populations?
  •  How can corporations be held accountable to Human Rights mechanisms and international law?
  • What changes are needed to transform the way in which the UN System is funded to reduce or combat corporate capture of decision-making?

This event will be recorded and uploaded to the Women’s Major Group YouTube Channel. Interpretation will be available in French and Spanish.

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CoNGO Notes: For more information on the NGO Major Group, please visit ngomg.org. 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-NY, please visit ngocsd-ny.org. For more information on the NGO Committee on Sustainable Development-Vienna, please visit congocsd.wordpress.com.

Second UN Global Sustainable Transport Conference

The Second United Nations Global Sustainable Transport Conference will take place from 14 to 16 October 2021, in Beijing, China.  It will bring together representatives of Governments, UN system and other international organizations, the private sector, civil society and other stakeholders to discuss opportunities, challenges and solutions towards achieving sustainable transport worldwide and indicate a way forward for sustainable transport to help achieve the objectives of the 2030 Agenda for Sustainable Development and the Paris Agreement on climate change in the Decade of Action.

The Conference programme, link to registration, related concept notes and other background documentation are available on the Conference website: un.org/en/conferences/transport2021

Due to the ongoing global COVID-19 pandemic, the Conference will be held in a “hybrid format” with virtual and in-person participation. The in-person participation will be limited to delegations and other participants who are already in Beijing. Registration for in-person participation is open from 1 September to 1 October 2021 at the link above.

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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 Migration, please visit ngo-migration.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 congocsd.wordpress.com. 

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