Tuesday, November 21, 2017

European aid-financed investors’ tax principles ‘weak,’ says Tax Justice Network

 
The branch organisations for European development finance institutions (DFIs) have drafted six new principles for responsible tax in developing countries. The advocacy research group Tax Justice Network is “shocked at how weak” the proposals are.
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Paradise Papers sweep IFU, Finnfund into tax haven storm

The use of tax havens by two Nordic aid-financed funds is under scrutiny after leaked confidential documents known as the Paradise Papers show that their investments in a joint forest plantation investment in Asia were routed through Cayman Islands.
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Definition of aid. Takeaways from OECD donor gathering in Paris

At a ministerial meeting in Paris 30 donors agreed on new common rules for reporting domestic refugee costs as Official Development Assistance (ODA) and paved the way for some Caribbean island states hit by Hurricane Irma to become aid eligible again.
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Sweden re-thinks aid to Myanmar, former PM urges Norway to give more

Sweden puts plans for state aid to Myanmar on hold after hundreds of thousands of Rohyingya have fled from Myanmar to neighbouring Bangladesh over the past two months. Sweden was a top donor at the recent UN Rohingya appeal. The level of Norwegian support for the Rohingya refugees has so far been more limited. Former Norwegian Prime Minister Kjell Magne Bondevik urges Norway to give more humanitarian aid.
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Struggling to breathe life into Finnish UN business

Finnish companies’ sales to the UN system have virtually crashed over the past five years. The Foreign Ministry in Helsinki is working hard to reverse the negative trend.
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Brende’s last budget: More ODA to fight terrorism as fragile states become a focus of Norwegian aid

After four years with a Blue-Blue government Norwegian aid creeps closer to Europe’s doorstep with migration and security interests becoming key areas of fucs. Education and health efforts have been expanded, while UN agencies and the World Bank are the big losers.
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ANALYSIS: Aid surge. Sweden aims to be major global development player

Under Climate and Development Minister Isabella Lövin’s watch the Swedish aid budget has increased by more than SEK 10 billion. Now the minister aims to strengthen aid diplomacy to make Sweden a major global player.
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Finland, IFC join forces to propel clean energy investments

By blending resources Finland and the World Bank’s private sector arm IFC are aiming to raise hundreds of billions of euros for climate projects, mainly in low-income countries.
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World Bank body to arbitrate EcoEnergy sugar dispute with Tanzania

The tribunal that will handle Bagamoyo EcoEnergy’s complaint against the government of Tanzania regarding the company’s cancelled sugar and ethanol project could take three years to reach a decision. Sida, which is owed SEK 54 million by the company, tells Development Today it will await the outcome of the case to reclaim its funds.
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Minister Mykkänen assures OECD reviewers Finnish aid is not being tied

In a meeting at the OECD in Paris this week, Finland’s Minister for Trade and Development Kai Mykkänen told reviewers that the massive cuts in the aid budget were unfortunate, but that economic trends are now looking more positive.
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