News Archive - The Rockefeller Foundation https://www.rockefellerfoundation.org/news/ Tue, 23 May 2023 19:27:50 +0000 en-US hourly 1 https://wordpress.org/?v=6.2 The Asian Institute of Technology and The Rockefeller Foundation Sign MoU To Accelerate Knowledge Exchange https://www.rockefellerfoundation.org/news/the-asian-institute-of-technology-and-the-rockefeller-foundation-sign-mou-to-accelerate-knowledge-exchange/ Tue, 23 May 2023 17:11:53 +0000 https://www.rockefellerfoundation.org/?post_type=news_post&p=61414 The MoU Will Enhance and Strengthen Cooperation Between AIT and The Rockefeller Foundation Bangkok, Thailand | May 23, 2023 – The Asian Institute of Technology (AIT) and The Rockefeller Foundation have signed a Memorandum of Understanding (MoU) to establish a framework for collaboration between the two organizations. The MoU was signed in the presence of […]

The post The Asian Institute of Technology and The Rockefeller Foundation Sign MoU To Accelerate Knowledge Exchange appeared first on The Rockefeller Foundation.

]]>
Representatives from The Rockefeller Foundation and The Asian Institute of Technology at the MoU signing ceremony.

The MoU Will Enhance and Strengthen Cooperation Between AIT and The Rockefeller Foundation

Bangkok, Thailand | May 23, 2023 – The Asian Institute of Technology (AIT) and The Rockefeller Foundation have signed a Memorandum of Understanding (MoU) to establish a framework for collaboration between the two organizations. The MoU was signed in the presence of Natalye Paquin, Chief Operating Officer of The Rockefeller Foundation, Deepali Khanna, Vice President, Asia Regional Office, The Rockefeller Foundation and Prof. Kazuo Yamamoto, Interim President of the Asian Institute of Technology.

It aims to promote and strengthen cooperation between AIT and The Rockefeller Foundation in areas of mutual interest in the region including climate change, accelerating sustainable energy transition, health, agriculture, and gender empowerment. The organizations are now exploring research agendas across these areas of mutual focus.

“We are pleased to establish this MoU with The Rockefeller Foundation, as it will enable us to collaborate and leverage our strengths in the areas of education, research, and capacity building. Through this partnership, we can create sustainable solutions and contribute to the development goals of the region,” said Prof. Kazuo Yamamoto, Interim President of the Asian Institute of Technology.

“The Rockefeller Foundation is committed to advancing breakthrough solutions, ideas, and conversations that promote the well-being of humanity. We are excited to further build upon our partnership with AIT to identify innovative solutions to addressing sustainable development challenges in the Asia region,” said Deepali Khanna, Vice President, Asia Regional Office, The Rockefeller Foundation.

The Rockefeller Foundation has a lasting relationship with Thailand dating back to 1917, when The Rockefeller Foundation initiated Thailand’s anti-hookworm campaign and supported the establishment of the country’s first Ministry of Health.

The Rockefeller Foundation collaborated with the Government of Thailand between 1917-1934 to establish medical and nursing education in the country with Prince Mahidol’s assistance. Since 1990, The Rockefeller Foundation has supported over 36 projects at Mahidol University by granting close to $8.8 million in funds for these initiatives in agriculture, health, and nutrition.

The Rockefeller Foundation is celebrating its 110th anniversary this month.


About the Asian Institute of Technology (AIT)

The Asian Institute of Technology (AIT) is an international institute of higher learning established in 1959 to help meet the region’s growing needs for advanced learning in engineering, science, technology and management, research and capacity building. AIT’s mission is to develop highly qualified and committed professionals who will play a leading role in the sustainable development of the region and its integration into the global economy.

About The Rockefeller Foundation

The Rockefeller Foundation is a pioneering philanthropy built on collaborative partnerships at the frontiers of science, technology, and innovation that enable individuals, families, and communities to flourish. We make big bets to promote the well-being of humanity and make opportunity universal and sustainable. Our focus is on scaling renewable energy for all, stimulating economic mobility, and ensuring equitable access to health care and nutritious food. For more information, sign up for our newsletter at rockefellerfoundation.org and follow us on Twitter @RockefellerFdn.

Media Contact

Gurpratap Singh
c-gsingh@rockfound.org
+91 9654 329 211

The post The Asian Institute of Technology and The Rockefeller Foundation Sign MoU To Accelerate Knowledge Exchange appeared first on The Rockefeller Foundation.

]]>
The Rockefeller Foundation and World Health Organization Announce Partnership To Expand Global Pandemic Preparedness in Era of Climate Change https://www.rockefellerfoundation.org/news/the-rockefeller-foundation-and-world-health-organization-announce-partnership-to-expand-global-pandemic-preparedness-in-era-of-climate-change/ Tue, 23 May 2023 16:00:31 +0000 https://www.rockefellerfoundation.org/?post_type=news_post&p=61248 US$ 5M investment will accelerate priority projects of the WHO Hub for Pandemic and Epidemic Intelligence to drive global collaboration in genomic surveillance, adoption of data tools for pathogen detection, and assessment of climate-aggravated outbreak threats GENEVA | May 23, 2023 – The Rockefeller Foundation and the World Health Organization (WHO) have announced a new […]

The post The Rockefeller Foundation and World Health Organization Announce Partnership To Expand Global Pandemic Preparedness in Era of Climate Change appeared first on The Rockefeller Foundation.

]]>
US$ 5M investment will accelerate priority projects of the WHO Hub for Pandemic and Epidemic Intelligence to drive global collaboration in genomic surveillance, adoption of data tools for pathogen detection, and assessment of climate-aggravated outbreak threats

GENEVA | May 23, 2023The Rockefeller Foundation and the World Health Organization (WHO) have announced a new partnership to strengthen the WHO Hub for Pandemic and Epidemic Intelligence. As part of the collaboration, the Foundation is investing US$ 5M in partners working with WHO to cultivate global networks for pathogen detection and strengthen pandemic preparedness capabilities, including broadening surveillance for diseases worsened by rising temperatures and extreme weather.

Established in 2021, WHO Hub for Pandemic and Epidemic Intelligence facilitates a global collaboration of partners from multiple sectors to address future pandemic and epidemic risks with better access to data, better analytical capacities, and better tools and insights for decision-making. The partnership with The Rockefeller Foundation will accelerate these efforts with catalytic funding and technical assistance.

“The Covid-19 pandemic underscored that disease surveillance, collaboration between stakeholders, and data sharing were absolutely essential ingredients for health security – and the global community was unprepared,” said Dr. Chikwe Ihekweazu, WHO Assistant Director-General and head of the WHO Hub for Pandemic and Epidemic Intelligence. “With the increasing threats from climate change, we are excited to partner with The Rockefeller Foundation to usher in a new era of global collaboration in pandemic intelligence.”

The Rockefeller Foundation will support projects under the WHO Hub for Pandemic and Epidemic Intelligence’s stewardship, including:

  • Scaling global capacity for genomic surveillance through the newly launched International Pathogen Surveillance Network.
  • Developing a digital platform in partnership with Data.org, to enable real-time communication and collaboration between public health analysts and researchers across the globe to scale evidence-based, field-tested epidemic tools.
  • Developing user-centered product strategies for existing WHO epidemic intelligence solutions to better support global public health agencies.
  • Improving outbreak detection through the Global.health data science initiative, in partnership with the University of Oxford and Boston Children’s Hospital, among others.

“Climate change is increasing both the risk of another global pandemic and the need to collaborate and share data,” said Dr. Rajiv Shah, President of The Rockefeller Foundation. “Fortunately, the WHO Pandemic Hub is already making us smarter and safer by helping track threats, find solutions, and connect countries and continents. We’re proud to partner with the Hub to expand its focus on preventing pandemics fueled by climate change.”

The announcement builds on The Rockefeller Foundation’s 75-year history of collaboration with WHO – including US$ 27M in grants over the last two decades – and its legacy of support for global pandemic preparedness and response. In October 2020, the Foundation announced a US$ 1B investment to catalyze a more inclusive, green recovery from the Covid-19 pandemic. In January 2022, The Rockefeller Foundation was admitted as a non-State actor in official relations with WHO.

The Rockefeller Foundation launched the partnership with the WHO Hub for Pandemic and Epidemic Intelligence on May 23, 2023, at the sidelines of the 76th World Health Assembly in Geneva, Switzerland.


About The Rockefeller Foundation

The Rockefeller Foundation is a pioneering philanthropy built on collaborative partnerships at the frontiers of science, technology, and innovation that enable individuals, families, and communities to flourish. We work to promote the well-being of humanity and make opportunity universal and sustainable. Our focus is on scaling renewable energy for all, stimulating economic mobility, and ensuring equitable access to health care and nutritious food. For more information, sign up for our newsletter at rockefellerfoundation.org and follow us on Twitter @RockefellerFdn.

Media Contact

Davina Dukuly
The Rockefeller Foundation
Media@rockfound.org

The post The Rockefeller Foundation and World Health Organization Announce Partnership To Expand Global Pandemic Preparedness in Era of Climate Change appeared first on The Rockefeller Foundation.

]]>
The Rockefeller Foundation Supports José Andrés and the George Washington University’s Groundbreaking New Institute for Delivering Food System Solutions https://www.rockefellerfoundation.org/news/the-rockefeller-foundation-supports-jose-andres-and-the-george-washington-universitys-groundbreaking-new-institute-for-delivering-food-system-solutions/ Tue, 23 May 2023 13:17:15 +0000 https://www.rockefellerfoundation.org/?post_type=news_post&p=61371 Powered by interdisciplinary research and teaching, the Global Food Institute at the George Washington University will deliver solutions to the biggest challenges facing our global food system. WASHINGTON, D.C. | May 23, 2023 – World-renowned chef, author, and humanitarian José Andrés and international research leader the George Washington University (GW) today announced their partnership to […]

The post The Rockefeller Foundation Supports José Andrés and the George Washington University’s Groundbreaking New Institute for Delivering Food System Solutions appeared first on The Rockefeller Foundation.

]]>
Powered by interdisciplinary research and teaching, the Global Food Institute at the George Washington University will deliver solutions to the biggest challenges facing our global food system.

WASHINGTON, D.C. | May 23, 2023 – World-renowned chef, author, and humanitarian José Andrés and international research leader the George Washington University (GW) today announced their partnership to build a premier Global Food Institute at GW, an unprecedented and transformative collaboration in the heart of the nation’s capital with plans to be a world leader in food system solution delivery.

“Our global food system is experiencing a crisis, brought on by systemic inequities, rampant hunger and poverty, the climate crisis, and deteriorating public health and nutrition. But food has the power to solve problems: It can rebuild lives and communities, heal both people and the planet and create hope for the future, but only if we think bigger,” said Andrés. “The Global Food Institute will reshape how we think about food, break down barriers across industries, politics, and nations, and inspire and empower the next generation to develop systemic solutions that reshape the food system.”

Driven by Andrés’ vision to change the world through the power of food, the Global Food Institute at GW will work to transform people’s lives and the health of our planet, taking a unique and interdisciplinary systems approach across three main pillars: policy, innovation, and humanities. Through this partnership, the Global Food Institute will produce cutting-edge research to create and improve domestic and global food policies, incubate and engineer innovative new technologies and entrepreneurial spirit, and lead critical conversations about the impact of food on the human race. By unifying and working across these pillars, the Institute will create actionable evidence, ideas, partnerships, and solutions to revolutionize the way we think about food.

“In the George Washington University’s third century, we are focused on accelerating the positive impact of our interdisciplinary scholarship on society, including through innovative partnerships with visionary leaders,” said GW President Mark S. Wrighton. “We are thrilled to establish in partnership with José Andrés the Global Food Institute—a center that will create new knowledge and shape national and international progress on food system issues.”

Over a decade ago, GW and Andrés introduced the interdisciplinary course, “The World on a Plate: How Food Shapes Civilization,” forging an academic partnership that laid the groundwork for what has become a multifaceted and dedicated Institute, which will marshal scholars from every school and college at GW as well as renowned experts, industry leaders, policymakers, and passionate individuals across sectors to explore some of the biggest challenges in our food system including food insecurity, health, and climate change, and deliver practical, evidence-based, and creative solutions.

“GW’s location in the heart of our nation’s capital makes it the ideal place for the brightest minds across disciplines to convene, develop innovative research and solutions and educate the next generation of advocates to drive the food systems change we need,” said GW’s Provost and Executive Vice President for Academic Affairs Christopher Alan Bracey.

As the Global Food Institute is powered by philanthropy and as it prepares to embark on its journey, it welcomes partnerships with organizations, companies, foundations, and individuals who share a common vision of transforming the global food system. This would not be possible without the founding gift from José Andrés. Additionally, The Carbonell Family Executive Director of the Global Food Institute at the George Washington University has been endowed thanks to a significant commitment made by Nelson A. Carbonell, Jr., BS ‘85, Chairman Emeritus of the GW Board of Trustees, and Michele M. Carbonell. The Executive Directorship will be supported by a $5 million endowment. The Rockefeller Foundation has also committed financial support for the Global Food Institute.

For more information about the Global Food Institute, and to join the movement to reshape the food system, visit globalfoodinstitute.gwu.edu.


About the George Washington University

In the heart of the nation’s capital with additional programs in Virginia, the George Washington University was created by an Act of Congress in 1821. Today, GW is the largest institution of higher education in the District of Columbia. The university offers comprehensive programs of undergraduate and graduate liberal arts study, as well as degree programs in medicine, public health, law, engineering, education, business, and international affairs. Each year, GW enrolls a diverse population of undergraduate, graduate, and professional students from across the United States and around the world.

About José Andrés

Twice named one of Time Magazine’s “100 Most Influential People” and awarded “Outstanding Chef” and “Humanitarian of the Year” by the James Beard Foundation, José Andrés is an internationally recognized humanitarian, culinary innovator, New York Times bestselling author, Emmy-nominated television personality, and educator. In 2010, Andrés founded World Central Kitchen, a nonprofit organization that is first to the frontlines, providing meals in response to humanitarian, climate, and community crises. Andrés’ work has earned awards and distinctions including the 2015 National Humanities Medal from President Barack Obama and the Princess of Asturias Foundation’s 2021 Concordia Prize. Andrés presently serves as co-chair of the President’s Council on Sports, Fitness, and Nutrition and is the immediate past co-chair of the Bipartisan Policy Center’s Food and Nutrition Task Force.

Media Contact

GW Media Relations
gwmedia@gwu.edu
2000 Pennsylvania Avenue NW
Suite 300
Washington, DC 20006

globalfoodinstitute@gwu.edu

The post The Rockefeller Foundation Supports José Andrés and the George Washington University’s Groundbreaking New Institute for Delivering Food System Solutions appeared first on The Rockefeller Foundation.

]]>
Global Citizen Announces ‘Power Our Planet: Live in Paris’ https://www.rockefellerfoundation.org/news/global-citizen-announces-power-our-planet-live-in-paris/ Tue, 23 May 2023 12:00:18 +0000 https://www.rockefellerfoundation.org/?post_type=news_post&p=61369 The Rockefeller Foundation-supported event to spark greater investment for climate solutions alongside President Macron’s New Global Financial Pact Summit PARIS / NEW YORK | May 23, 2023 – Today Global Citizen, the world’s leading international advocacy organization on a mission to end extreme poverty NOW, announced its return to the iconic Champ de Mars in […]

The post Global Citizen Announces ‘Power Our Planet: Live in Paris’ appeared first on The Rockefeller Foundation.

]]>
The Rockefeller Foundation-supported event to spark greater investment for climate solutions alongside President Macron’s New Global Financial Pact Summit

PARIS / NEW YORK | May 23, 2023 – Today Global Citizen, the world’s leading international advocacy organization on a mission to end extreme poverty NOW, announced its return to the iconic Champ de Mars in Paris on Thursday, June 22 with ‘Power Our Planet: Live in Paris’. A free, ticketed event, ‘Power Our Planet: Live in Paris’ will feature performances from Lenny Kravitz, Billie Eilish, H.E.R., Jon Batiste and special guests Ben Harper, FINNEAS, and Mosimann to drive commitments from world leaders and the private sector to confront the climate crisis head on.

Under the high patronage of Mr. Emmanuel Macron, President of the French Republic, ‘Power Our Planet: Live in Paris’ will rally global leaders attending the New Financial Pact Summit, chaired by President Macron and Prime Minister Narendra Modi of India. The Power Our Planet campaign, which is co-chaired by Prime Minister Mia Mottley of Barbados, is calling for a seismic shift in the way the world’s financial systems work to give the world’s poor and developing nations access to the financing they urgently need to quicken their transition to clean energy, strengthen their resilience against natural disasters, and address their most urgent needs.

Global Citizen’s Power Our Planet campaign is galvanizing millions of people around the world to take action, raise their voices and demand urgent changes from governments, Multilateral Development Banks, and major corporations, including:

  • Keep Promises Already Made: Deliver the outstanding $16.7 billion of the committed $100 billion in climate financing for lower-income countries; transfer $100 billion in World Bank Special Drawing Rights from wealthy countries to poor countries; increase foreign aid budgets; and enact global carbon emissions taxes.
  • Free Up Funding: Make up to $1 trillion in financing available to countries in need through policy reforms at the World Bank and other multilateral development banks; and include natural disaster and pandemic clauses in loans to poorer nations.
  • Transition to Clean Energy: Corporations should commit to join the United Nations’ Race-to-Zero by setting science-based targets; publish time-bound action plans for climate transitions; and make transformative investments for a lower-carbon transition in emerging economies.

Increased access to financing would help bolster governments’ ability to resist climate change by, for example: helping 1.5 million farmers in Zambia withstand climate disasters like droughts and floods; protecting 1.8 million hectares of land in Ghana by 2030; ending deforestation in the Brazilian Amazon by 2030; and strengthening the resilience of national electric grids in island nations like Antigua and Barbuda to withstand Category 5 hurricanes.

‘Power Our Planet: Live in Paris’ will pave the way for this urgent funding to be delivered throughout the year, including at the G20 summit in New Delhi, India in September; the Global Citizen Festival held during the United Nations General Assembly in New York City, USA in September; the IMF and World Bank meetings in October; and culminating at COP28 in Dubai, UAE in November.

“Our world needs urgent change. Outdated global financial systems are perpetuating the conditions that keep vulnerable countries and their citizens trapped in the cycle of extreme poverty,” said Hugh Evans, Co-founder and CEO, Global Citizen. “We congratulate Ajay Banga on his appointment as President of the World Bank, and there is an urgent and immediate opportunity for him to show leadership the world truly needs.”

“We need a world with more solidarity. Crises are multiplying and the number of those who place their hope in peace and multilateralism will only grow if we, as a global community, demonstrate that we are there to help the most vulnerable,” said Emmanuel Macron, President of the French Republic. “Because inequality and poverty are the grounds of today’s and tomorrow’s wars. Because there will be no climate transition worldwide if we don’t fight for more justice and equity. Halfway to the sustainable development objectives, we need a new financial pact between all countries, so that the world of tomorrow is more united.”

“This year – and this summit – are critical for the restoration of justice and equity within the global financial systems that continue to abandon and overlook poor and climate-vulnerable countries,” said Mia Mottley, Prime Minister of Barbados. “We need the presence and commitments of world leaders at the New Financial Pact Summit in Paris. I call on leaders of the G7, G20 and wealthy nations across the globe to step up, and let us act together in the interest of our planet and humanity. Join us in Paris.”

“The next generation are inheriting a planet that’s being devastated by climate change,” said Lenny Kravitz. “We have the power to change things with our voices and our actions. Join me on June 22, from wherever you are, and act today to save tomorrow.”

An alliance of world leaders representing both Global North and Global South countries has joined the Power Our Planet campaign alongside Global Citizen and Prime Minister of Barbados Mia Mottley, including supporters Emmanuel Macron, President of France; Julius Maada Bio, President of Sierra Leone; Pedro Sánchez, Prime Minister of Spain; José Ramos-Horta, President of Timor Leste; Biman Prasad, Deputy Prime Minister of Fiji, the Government of Ghana, the Government of Namibia, the Government of Zambia, and the Alliance of Small Island States (AOSIS).

Power Our Planet’s coalition of supporters also includes leading activists, philanthropic foundations, nonprofit organizations, and private sector leaders, including Dr. Rajiv Shah, President, The Rockefeller Foundation; Mark Malloch Brown, President, Open Society Foundations; Benedict Oramah, President of AfreximBank; Dr. Tedros Adhanom Ghebreyesus, Director-General of the World Health Organization; Seth Berkley, CEO of Gavi; Kate Higgins, CEO, Cooperation Canada; Jennifer Jones, President of Rotary International; Ban Ki-Moon, Former Secretary-General of the United Nations; Eloise Todd, Executive Director & Co-Founder, Pandemic Action Network; and Ineza Umuhoza Grace, Co-Founder of the Loss and Damage Youth Coalition and 2023 Global Citizen Prize winner.

The Power Our Planet campaign is supported by: Aspire Artemis Foundation Inc.; Ban Ki-moon Centre for Global Citizens; BASICS International; Beyond Bretton Woods; the Center for Environmental Peacebuilding; Climate Finance Group for Latin America and the Caribbean; Common Good Marketplace; Connected Development; Don’t Gas Africa; E3G; Education Cannot Wait: Focus 2030; Germanwatch; Glasgow Actions Team; Global Alliance for a Green New Deal; The Global Fund; The UN Global Fund for Education in Emergencies; Green Republic Farms; Hungry for Action; International Climate Change Development Initiative; International Climate Financing WG; International Fund for Agricultural Development; Jane Goodall Institute France; Malala Fund; The ONE Campaign; OWIT Brussels – Organization of Women in Trade; Oxfam; Plastic Punch; Power to Girls Foundation; Primavera Zur; Project Everyone; Re:Wild, SDG2 Advocacy Hub; Sustainable Development Solutions Network; Shamba Centre for Food and Climate; She Leads Climate Action; Stage For Change; Strategic Youth Network for Development; Sungulo Comm NPC; Support Humanity Cameroon (SUHUCAM); United Nations Foundation.

The Power Our Planet campaign and the ‘Power Our Planet: Live in Paris’ event is hosted in partnership with the City of Paris, is produced by Live Nation, and supported by Cisco and Citi as well as Afrexim Bank, Bill and Melinda Gates Foundation, European Climate Fund, Open Society Foundations, The Rockefeller Foundation, and the Seadream Family Foundation. A series of thought leadership events focused on driving action from the private sector is being supported by Cisco and Citi. The ‘Power Our Planet: Live in Paris’ broadcast will be produced by Done and Dusted.

‘Power Our Planet: Live in Paris’ will be livestreamed globally across Global Citizen’s platforms on Thursday, June 22. Amazon will carry the livestream on “Amazon Music on Twitch”. Global Citizen is grateful for the support of leading media companies across the world including: AIM Group, Arena Holdings, Bella Naija, Brut. Media, EIB Network, Vanguard Media and Zikoko.

For more information visit globalcitizen.org/powerourplanet, download the Global Citizen app, and follow Global Citizen on TikTok, Instagram, YouTube, Facebook, Twitter and LinkedIn.


About Global Citizen

Global Citizen is the world’s leading international advocacy organization on a mission to end extreme poverty NOW. Powered by a worldwide community of everyday activists raising their voices and taking action, the movement is amplified by campaigns and events that convene leaders in music, entertainment, public policy, media, philanthropy and the corporate sector. Over the past 10 years, $43.6 billion in commitments announced on Global Citizen platforms has been deployed, impacting nearly 1.3 billion lives. Established in Australia in 2008, Global Citizen’s team operates from New York, Los Angeles, London, Paris, Berlin, Melbourne, Toronto, Johannesburg, Lagos and beyond. Join the movement at globalcitizen.org, download the Global Citizen app, and follow Global Citizen on Facebook, Instagram, LinkedIn, TikTok and Twitter.

About The Rockefeller Foundation

The Rockefeller Foundation is a pioneering philanthropy built on collaborative partnerships at the frontiers of science, technology, and innovation that enable individuals, families, and communities to flourish. We make big bets to promote the well-being of humanity and make opportunity universal and sustainable. Our focus is on scaling renewable energy for all, stimulating economic mobility, and ensuring equitable access to health care and nutritious food. For more information, sign up for our newsletter at rockefellerfoundation.org and follow us on Twitter @RockefellerFdn.

Media Contact:

Global Citizen media inquiries
media@globalcitizen.org

The Rockefeller Foundation media inquiries
media@rockfound.org

The post Global Citizen Announces ‘Power Our Planet: Live in Paris’ appeared first on The Rockefeller Foundation.

]]>
Sir Alok Sharma Joins The Rockefeller Foundation to Advance Global Development and Climate Action Goals https://www.rockefellerfoundation.org/news/sir-alok-sharma-joins-the-rockefeller-foundation-to-advance-global-development-and-climate-action-goals/ Mon, 22 May 2023 04:01:29 +0000 https://www.rockefellerfoundation.org/?post_type=news_post&p=61270 NEW YORK / LONDON | May 22, 2023 ― The Rockefeller Foundation announced today that the Rt Hon Sir Alok Sharma, current Member of Parliament of the United Kingdom and former President of the United Nations Climate Change Conference (COP26), has joined as Climate and Finance Fellow. In this role, he will support The Rockefeller […]

The post Sir Alok Sharma Joins The Rockefeller Foundation to Advance Global Development and Climate Action Goals appeared first on The Rockefeller Foundation.

]]>
NEW YORK / LONDON | May 22, 2023 ― The Rockefeller Foundation announced today that the Rt Hon Sir Alok Sharma, current Member of Parliament of the United Kingdom and former President of the United Nations Climate Change Conference (COP26), has joined as Climate and Finance Fellow. In this role, he will support The Rockefeller Foundation’s efforts to unlock greater and more effective financing to help advance global development and climate action goals.

“With dozens of nations in or near debt distress, hundreds of millions going to bed hungry every night, and a multi-trillion-dollar climate finance gap, I am heartened that Alok Sharma is joining The Rockefeller Foundation team to help accelerate climate and development finance, in part by reimagining the international financial system,” said Dr. Rajiv J. Shah, President of The Rockefeller Foundation. “His international experience, networks, and knowledge will help us continue to make the big bets needed to make opportunity universal in the 21st century.”

Sir Alok will support inclusion in the area of development and climate finance as part of The Rockefeller Foundation’s efforts to engage governments, multilateral agencies, and NGO actors in order to help build greater international consensus on reforming the international development finance system. At a time when at least 10 countries are in debt distress and another 27 are at high risk, according to the International Monetary Fund, advancing debt relief measures in low-and middle-income countries is also an important focus of this effort.

“If we are to deliver for the planet, and ultimately our futures, we need to move at pace and that requires turning the billions into the trillions of dollars in finance to deliver a net zero emissions world. This is absolutely essential if humanity is to have any hope of limiting average global warming to 1.5C above pre-industrial levels and avoiding the worst impacts of climate change,” said Sir Alok, who was knighted in King Charles III 2023 New Year’s Honours for services to tackling climate change. “I am therefore pleased to be working with a highly respected organization like The Rockefeller Foundation on the vitally important subject of international financial reform as we seek, with like-minded partners, to build an international consensus that helps to unlock significantly more public and private finance for global climate and development action.”

In 2021 as COP26 President, Sir Alok led the UK’s work in bringing nearly 200 countries together to commit to take action on climate change. Through this effort, he forged the historic Glasgow Climate Pact to keep alive the goal of limiting average global warming to 1.5 degrees Celsius above pre-industrial levels. During this summit, The Rockefeller Foundation, IKEA Foundation, and the Bezos Earth Fund also launched a historic alliance to accelerate clean energy development in low- and middle-income countries as a key solution to curbing greenhouse emissions, while creating economic opportunity for 3.6 billion people worldwide. At the launch, Sir Alok said: “I am delighted that the Global Energy Alliance for People and Planet is launching at COP26. By bringing philanthropy, government, investors, and civil society together, the Alliance embodies how international cooperation can drive ambitious climate action and share the benefits of clean growth for all.”

Sir Alok will undertake this new role on an unpaid basis alongside his work as a UK Member of Parliament for Reading West.


About The Rockefeller Foundation

The Rockefeller Foundation is a pioneering philanthropy built on collaborative partnerships at the frontiers of science, technology, and innovation that enable individuals, families, and communities to flourish. We make big bets to promote the well-being of humanity and make opportunity universal and sustainable. Our focus is on scaling renewable energy for all, stimulating economic mobility, and ensuring equitable access to health care and nutritious food. For more information, sign up for our newsletter at rockefellerfoundation.org and follow us on Twitter @RockefellerFdn.

Media Contact

Ashley Chang
The Rockefeller Foundation
media@rockfound.org

The post Sir Alok Sharma Joins The Rockefeller Foundation to Advance Global Development and Climate Action Goals appeared first on The Rockefeller Foundation.

]]>
Think7 and Think20 Leaders Launch a Shared Agenda For Global Cooperation https://www.rockefellerfoundation.org/news/think7-and-think20-leaders-launch-a-shared-agenda-for-global-cooperation/ Mon, 15 May 2023 04:01:32 +0000 https://www.rockefellerfoundation.org/?post_type=news_post&p=61109 BELLAGIO/TOKYO/NEW DELHI | May 12, 2023 – The official think-tank engagement groups of G20 India (T20) and G7 Japan (T7), together with their counterparts of G20 Indonesia and G7 Germany (2022) and think-tanks involved in the preparation of the G20 Brazil and G7 Italy (2024) gathered at The Rockefeller Foundation Bellagio Center, for a first […]

The post Think7 and Think20 Leaders Launch a Shared Agenda For Global Cooperation appeared first on The Rockefeller Foundation.

]]>
G20/G7 Retreat – A Matter of Peace: Leaders from T20 and T7 at The Rockefeller Foundation’s Bellagio Center Bellagio, Italy.

BELLAGIO/TOKYO/NEW DELHI | May 12, 2023 – The official think-tank engagement groups of G20 India (T20) and G7 Japan (T7), together with their counterparts of G20 Indonesia and G7 Germany (2022) and think-tanks involved in the preparation of the G20 Brazil and G7 Italy (2024) gathered at The Rockefeller Foundation Bellagio Center, for a first of its kind convening  since the adoption of the G20 development agenda in Seoul in 2010, the creation of the T20 in 2012 and the T7 in 2022. Jointly organized by the Asian Development Bank Institute (ADBI) and The Rockefeller Foundation, the convening titled, “G20/G7 Retreat – A Matter of Peace,” focused on T7/T20 dialogue for G7/G20 cooperation, sustainability and the United Nations Agenda 2030 for Sustainable Development, and milestones towards a new international order.

As they share a vision of combined challenges and risks of macroeconomic and geopolitical fragmentation, the T7 and T20 call for renewed cross-border, cross-sectoral, and interdisciplinary dialogue and cooperation. They recognize the complementarity of the T7 and T20 to help address the ballooning debt crisis in the Global South, a critical condition to secure the delivery of the Agenda 2030, along key global environmental and climate commitments.

The T20 and T7 have outlined ten priorities for G20/G7 cooperation and agreed to work jointly and with their partners to foster effective responses and robust policy solutions in the short and long term. The participants agreed upon a Bellagio Action Plan 2023-24 to further cooperation and ties between G7 and G20 in the future. The promotion of gender equality, the issue of wellbeing and the transformation of GDP measurement, a common vision of human capital development, boosting public investments in global science systems and research infrastructure, and the proposal of a G7/G20 dashboard, introduced at the T7 Summit in Tokyo on April 27-28, 2023, are among common goals.

In light of a rapidly changing global context and interconnected environmental, development and global financial reforms agendas, the participants agreed to convene and exchange regularly ahead of the G7 and G20 leaders’ summits and to prepare a joint communiqué in the fall.

Read the Chair’s summary here.

Commenting on the outcomes of the convening, Tetsushi Sonobe, Dean and CEO, ADBI, said, “We have learned from a decade of the T20 and our world is both in crisis but also in progress. Joining forces across the T7 and T20 can help strengthen the voice of the civil society and bridge the G7 and G20. This is essential to address immediate concerns such as the return of extreme hunger and longer-term issues, in particular investing in a common future.”

Highlighting the importance of convergence between G20 and G7, Deepali Khanna, Vice President, Asia Regional Office, The Rockefeller Foundation, said, “To address today’s crises with a focus on long-term gains rather than short-term payback, India’s G20 Presidency and Japan’s G7 Presidency are critical levers. With cross-pollinated dialogue and action, the promise at the core of the global economic order can be restored and revitalized. The Rockefeller Foundation is privileged to support this unprecedented format for cooperation between G7 and G20.”


About ADBI

The Asian Development Bank Institute (ADBI) is the Tokyo-based think tank of the Asian Development Bank. ADBI provides demand-driven policy research, capacity building and training, and outreach to help developing countries in Asia and the Pacific practically address sustainability challenges, accelerate socioeconomic change, and realize more robust, inclusive, and sustainable growth.

About The Rockefeller Foundation

The Rockefeller Foundation is a pioneering philanthropy built on collaborative partnerships at the frontiers of science, technology, and innovation that enable individuals, families, and communities to flourish. We work to promote the well-being of humanity and make opportunity universal and sustainable. Our focus is on scaling renewable energy for all, stimulating economic mobility, and ensuring equitable access to health care and nutritious food. For more information, sign up for our newsletter at rockefellerfoundation.org and follow us on Twitter @RockefellerFdn.

Media Contacts:

Gurpratap Singh
c-gsingh@rockfound.org

Kaori Hitomi
khitomi@adbi.org

 

The post Think7 and Think20 Leaders Launch a Shared Agenda For Global Cooperation appeared first on The Rockefeller Foundation.

]]>
Makerere University School of Public Health Receives USD $100,000 Donation From The Rockefeller Foundation for New Building https://www.rockefellerfoundation.org/news/makerere-university-school-of-public-health-receives-usd-100000-donation-from-the-rockefeller-foundation-for-new-building/ Mon, 08 May 2023 18:59:17 +0000 https://www.rockefellerfoundation.org/?post_type=news_post&p=60297 KAMPALA | April 27, 2023 – The Rockefeller Foundation, an American private philanthropy, donated USD $100,000, which Makerere University will use towards the construction of a new School of Public Health (MakSPH) building in celebration of the University’s centenary this year. Following a visit by The Rockefeller Foundation team and a tour of the MakSPH […]

The post Makerere University School of Public Health Receives USD $100,000 Donation From The Rockefeller Foundation for New Building appeared first on The Rockefeller Foundation.

]]>
KAMPALA | April 27, 2023 – The Rockefeller Foundation, an American private philanthropy, donated USD $100,000, which Makerere University will use towards the construction of a new School of Public Health (MakSPH) building in celebration of the University’s centenary this year.

Following a visit by The Rockefeller Foundation team and a tour of the MakSPH construction site located at Makerere University Main Campus, William Asiko, Vice President, Africa Region at The Rockefeller Foundation, announced the donation of USD $100,000.

“As a Foundation, we are excited to re-engage with Makerere University and the School of Public Health,” said Mr. Asiko. “To that end, we are incredibly proud of the strides the School of Public Health has made since its inception. We look forward to continued collaboration with the School and the University at large.”

The Rockefeller Foundation has supported MakSPH for many years including its support for the construction of the current home of MakSPH 54 years ago and the establishment of the Master of Public Health (MPH) Program 28 years ago, which was among the first MPH programs on the African continent.

MakSPH appreciates The Rockefeller Foundation for its generous support of public health in Africa and continued partnership towards a healthier Africa.

Makerere University School of Public Health is one of the oldest and largest public health training institutions in sub-Saharan Africa. Over the past 15 years, the School has significantly increased student enrolment and staff numbers.

The School offers nine (9) Masters programs and PhD training and is a leading player in public health in the African region with several multi-country, multi-institutional research and capacity building initiatives.

To accommodate this growth, MakSPH has initiated construction of a new building on the Makerere University Main Campus with an estimated cost of $10 million of the fully fitted building. The School has so far raised $3.5 million from various fundraising drives.

“Given its location within a region prone to infectious disease outbreaks of epidemic and pandemic potential, this building will accommodate a Centre for disease outbreak prevention, preparedness and response research in addition to other Centres of Excellence,” said Dr. Rhoda Wanyenze, Professor and Dean, MakSPH. “We are extremely grateful to The Rockefeller Foundation for their generosity. Your past financial support has been invaluable to the growth of public health in Uganda, in Africa and globally.”


About The Rockefeller Foundation

The Rockefeller Foundation is a pioneering philanthropy built on collaborative partnerships at the frontiers of science, technology, and innovation that enable individuals, families, and communities to flourish. We work to promote the well-being of humanity and make opportunity universal and sustainable. Our focus is on scaling renewable energy for all, stimulating economic mobility, and ensuring equitable access to health care and nutritious food. For more information, sign up for our newsletter at rockefellerfoundation.org and follow us on Twitter @RockefellerFdn.

About MakSPH

Makerere University School of Public Health (MakSPH) is a leading public health training and research institution in Sub-Saharan Africa. It is one of the schools under the College of Health Sciences, a constituent College of Makerere University, Kampala, Uganda. The School conducts research and provides consultation services to the Government of Uganda Ministry of Heath, various national and international health organizations, as well as bilateral and multilateral agencies involved in health. The School provides graduate, undergraduate and in-service training in public health. MakSPH’s major research and capacity building areas are: infectious and non-infectious diseases, sexual, reproductive, maternal and child health, environmental and sustainable health.

Media Contact

Davidson Ndyabahika
+256 781403929 | +256 706765767
dndyabahika@musph.ac.ug

The post Makerere University School of Public Health Receives USD $100,000 Donation From The Rockefeller Foundation for New Building appeared first on The Rockefeller Foundation.

]]>
The Rockefeller Foundation Commits $2.8 Million To Support the Global FoodBanking Network Amid Ongoing Food Crisis https://www.rockefellerfoundation.org/news/the-rockefeller-foundation-commits-2-8-million-to-support-the-global-foodbanking-network-amid-ongoing-food-crisis/ Thu, 04 May 2023 12:00:57 +0000 https://www.rockefellerfoundation.org/?post_type=news_post&p=60555 The grant will strengthen efforts to reduce hunger and cut food waste in ten countries across Africa, Asia, and Latin America NEW YORK/CHICAGO | May 4, 2023 – Today The Rockefeller Foundation announced a $2.8 million grant to The Global FoodBanking Network to address food insecurity and reduce food waste and loss in ten countries […]

The post The Rockefeller Foundation Commits $2.8 Million To Support the Global FoodBanking Network Amid Ongoing Food Crisis appeared first on The Rockefeller Foundation.

]]>
The grant will strengthen efforts to reduce hunger and cut food waste in ten countries across Africa, Asia, and Latin America

NEW YORK/CHICAGO | May 4, 2023 – Today The Rockefeller Foundation announced a $2.8 million grant to The Global FoodBanking Network to address food insecurity and reduce food waste and loss in ten countries across Africa, Asia, and Latin America. Amid the ongoing global food crisis, the grant will enable technical and financial investments to help food banks address both the immediate needs of their communities and build lasting food recovery and hunger relief capacity.

“Today millions of families across the world are struggling to put food on the table, while one-third of all food is lost or wasted. Food banks are needed now more than ever,” said Catherine Bertini, Managing Director, Global Nutrition Security at The Rockefeller Foundation, “We are thrilled to support The Global FoodBanking Network in its efforts to increase food access for people facing hunger in the short-term, while building longer-term community resilience. Together we are pursuing our common objective of nourishing the world’s hungry.”

The Global FoodBanking Network is the world’s most geographically diverse network of food recovery organizations, active in nearly 50 countries and working primarily in emerging and developing economies. With the support of The Rockefeller Foundation, The Global FoodBanking Network and its partners will increase the recovery and distribution of wholesome, nutritious food, strengthen food systems, and increase food access for food-insecure communities in Colombia, Ecuador, Ghana, Guatemala, Honduras, India, Kenya, Nigeria, Peru, and the Philippines. Through the financial investments in food banks, along with provision of training and technical assistance in reducing food waste and loss and building a knowledge-sharing peer network among countries, the grant will provide immediate hunger relief to 700,000 people and build longer term food systems resilience for millions more.

“We are living in a volatile time, and people already living in vulnerable situations are bearing the brunt of conflict, climate change, and a rising cost of living,” said Lisa Moon, President & CEO of The Global FoodBanking Network. “Food banks around the world have stepped up to meet the challenges communities are facing. The Rockefeller Foundation’s support will help increase the capacity of food banks to scale operations and rapidly respond to the global food crisis, ultimately ensuring more people facing hunger are connected to nutritious food.”

Fueled by conflict, climate shocks, and Covid-19, the global food crisis has escalated since the invasion of Ukraine in early 2022. The costs of food, fuel, and fertilizer have risen rapidly, with vulnerable low-income communities and countries most acutely affected. At the same time, approximately 1.3 billion tons of food are lost or wasted, creating a significant greenhouse gas footprint that exacerbates the climate change crisis.

Addressing the global food crisis and transforming food systems to be more sustainable and nourishing are focus areas of The Rockefeller Foundation’s Good Food Strategy. Launched in March 2022, the $105-million Good Food Strategy, which is The Rockefeller Foundation’s largest-ever investment in food and nutrition, aims to reach 40 million underserved people around the globe over three years with solutions that benefit human health, protect the planet, and create more equitable opportunity globally. 


About The Rockefeller Foundation

The Rockefeller Foundation is a pioneering philanthropy built on collaborative partnerships at the frontiers of science, technology, and innovation that enable individuals, families, and communities to flourish. We work to promote the well-being of humanity and make opportunity universal and sustainable. Our focus is on scaling renewable energy for all, stimulating economic mobility, and ensuring equitable access to health care and nutritious food. For more information, sign up for our newsletter at rockefellerfoundation.org and follow us on Twitter @RockefellerFdn.

About The Global FoodBanking Network

The Global FoodBanking Network supports community-led solutions to alleviate hunger in nearly 50 countries. While millions struggle to access enough safe and nutritious food, nearly a third of all food produced is lost or wasted. We’re changing that. We believe food banks directed by local leaders are key to achieving Zero Hunger and building resilient food systems. For more information, visit foodbanking.org.

Media Contacts

Davina Dukuly
The Rockefeller Foundation
media@rockfound.org

Michael Oko
The Global FoodBanking Network
moko@foodbanking.org

The post The Rockefeller Foundation Commits $2.8 Million To Support the Global FoodBanking Network Amid Ongoing Food Crisis appeared first on The Rockefeller Foundation.

]]>
Remarks by Elizabeth Yee for the T7 Japan Summit https://www.rockefellerfoundation.org/news/remarks-by-elizabeth-yee-for-the-t7-japan-summit/ Thu, 27 Apr 2023 13:00:00 +0000 https://www.rockefellerfoundation.org/?post_type=news_post&p=60484 As delivered via video on April 27, 2023  Konnichiwa and hello from The Rockefeller Foundation’s headquarters in New York City. My name is Elizabeth Yee, and I’m the Executive Vice President of programs here at the Foundation. I wanted to say thank you to our partners, the T7, the G7, and the ADB Institute […]

The post Remarks by Elizabeth Yee for the T7 Japan Summit appeared first on The Rockefeller Foundation.

]]>
As delivered via video on April 27, 2023

Konnichiwa and hello from The Rockefeller Foundation’s headquarters in New York City. My name is Elizabeth Yee, and I’m the Executive Vice President of programs here at the Foundation. I wanted to say thank you to our partners, the T7, the G7, and the ADB Institute for inviting us to participate here with you today, and grateful that my colleague, Deepali Khanna, can be there with you in person. While I wish I could be as well, I’m very grateful for the opportunity to share a few words with you in advance of you hearing from this distinguished panel. Today, the world is facing a number of different crises, from Covid-19 to climate change, to rising energy prices, to rising commodity prices. This is creating significant inequity in our global world order and requires us to really think about how we can come together as a global community to deliver on a more just, equitable, and green future as a planet. It’s really encouraging seeing how the groups are coming together to champion multilateralism, to think about how we can fight for a more representative world order, and really address much of the challenges that we need to ensure that emerging and less developed economies have a chance to be part of this and have a seat at the table.

The Rockefeller Foundation, for 110 years, has been committed to doing exactly the same as part of our efforts to make opportunity universal and sustainable. We empower policymakers around the globe to ensure that they have the means to invest in the scientific research and the innovations that we know we need in order to build a more equitable and just society. And what we do is we enhance individual and institutional capacities by making sure that we’re pursuing ideas and implementation against the big bets that we know humanity needs to support people and frontline communities. And so as a result, we’ve been engaging closely with the T7 and T20 communities to understand and learn and build our vision and help support those communities to achieve that vision. So last year, one of the things we did was we supported a report that revealed that in order to reach net zero emissions, global, public, and private sector, organizations needed to see annual investment flows of approximately $3.8 trillion by 2025. We also worked together with many partners to contribute to the G20-commissioned Independent Review Panel for the Capital Adequacy Frameworks, which made recommendations for boosting the investment capacity of the multilateral development banks.

That work is part of our larger effort to really help the world build a global financial system and new architecture that enables us to be, as a global community, fit for purpose in the 21st century. We need to accelerate public and private sector financing in order to ensure that we achieve the energy transitions and the societal transitions we know we need to do in order to build towards this more sustainable development. That need was echoed by the chairs of the T20 India and T7 Japan Ambassador Chinoy and Dean Sonobe, along with other prominent global executives and leaders, at a recent convening we held at our center in Bellagio, Italy, where we talked about building bridges between the G7 and the G20. That convening and this summit have the real potential to transform the global landscape and be able to help us deliver a global financial architecture that is more equitable and enables communities and emerging and developing economies to be part of the new green and inclusive global economy. So I thank you for your commitment to cause. I wish you an incredibly productive and inspired convening, and we look forward to partnering with you on the path ahead.

The post Remarks by Elizabeth Yee for the T7 Japan Summit appeared first on The Rockefeller Foundation.

]]>
IMF/World Bank – Spring Meetings Ministerial: Fighting Global Crises & Building Coalitions https://www.rockefellerfoundation.org/news/imf-world-bank-spring-meetings-ministerial-fighting-global-crises-building-coalitions/ Wed, 26 Apr 2023 04:01:44 +0000 https://www.rockefellerfoundation.org/?post_type=news_post&p=60058 On April 13, during the 2022 Spring Meetings of the International Monetary Fund (IMF) and the Boards of Governors of the World Bank Group (WB), we convened a ministerial of governments, the United Nations, and philanthropies to discuss the urgent and ongoing crises that the world is facing. With broad recognition of the shortcomings of […]

The post IMF/World Bank – Spring Meetings Ministerial: Fighting Global Crises & Building Coalitions appeared first on The Rockefeller Foundation.

]]>
Barbados Prime Minister Mia Mottley, Deputy Secretary General Amina Mohammed, and a number of others meeting to discuss the Bridgetown Initiative.

On April 13, during the 2022 Spring Meetings of the International Monetary Fund (IMF) and the Boards of Governors of the World Bank Group (WB), we convened a ministerial of governments, the United Nations, and philanthropies to discuss the urgent and ongoing crises that the world is facing.

With broad recognition of the shortcomings of the current international development finance system to deliver on the objectives of the 2030 Agenda for Sustainable Development, the Paris Agreement, and the Kunming-Montreal biodiversity framework, there have been a number of efforts to propose concrete, ambitious reforms to the system. Barbados Prime Minister Mia Mottley, United Nations Deputy Secretary General Amina Mohammed, and a number of others developed a proposal – the Bridgetown Initiative. In parallel, U.S. Treasury Secretary Janet Yellen has launched an initiative to evolve the multilateral development banks (MDB). A number of complementary efforts are also in motion, including the V20 Accra to Marrakech Agenda, the G20 Capital Adequacy Framework Independent Review, the Economic Commission for Africa Ministerial, and the G20 Note on the Global Debt Landscape. To advance these ambitious agendas, France will host, in June in Paris, a Summit for a “New Global Financial Pact” prepared in close collaboration with India and with key stakeholders leading these initiatives.

To build a fit-for-purpose international development finance architecture, a clear, coherent package of meaningful reforms and a unified, proactive, and determined coalition are needed.

This statement captures important areas reflected in our ministerial discussion:

  • Vulnerable people in developing countries have been hit the hardest by the compounding overlapping global crises, leading to the reversal of development gains and catastrophic human consequences. These multiple crises are expected to add another 75 to 95 million people living in extreme poverty, as compared to pre-pandemic estimates.
  • To improve their outlook and achieve sustainable development in all developing countries, it is essential to address these crises. To prevent a spiral of worsening climate vulnerability and rising debt, the international community must invest heavily in development and resilience.
  • Climate change is already having a significant impact on livelihoods, food security, housing, and health, particularly in vulnerable communities around the world. We acknowledge the impacts of climate change are likely to make existing inequalities worse. The protection of human capital must be overarching, ensuring the most vulnerable communities have access to the resources and support they need to continue developing while building resilience against the impacts of climate change.
  • Many countries have insufficient fiscal resources to finance much-needed responses to the health and socioeconomic crises caused by the pandemic and exacerbated by the war in Ukraine, as well as crucial investments in climate adaptation. The service of public debt crowds out room for crucial investments that countries require to establish a resilient, sustainable, and equitable recovery, climate-proof their economies, and achieve the Sustainable Development Goals (SDGs).
  • Put bluntly, development and climate finance are not near available, affordable or accessible enough. We need to deploy more innovative development and climate finance with due attention to the risks of further increasing levels of indebtedness.
  • Yet, many pledges on climate finance remain unfulfilled and, as the impacts of climate change escalate, many vulnerable developing countries continue to fall deeper into debt, which has been aggravated by Covid-19, the brutal war against Ukraine, the food emergency, a deepening cost-of-living crisis, and rising interest rates.
  • No country or economy can alone overcome the climate crisis, the effects of the Covid-19 pandemic, the food and energy emergency, or the SDG gap.

Urgent, ambitious collective action is critical.

  • The MDBs must update their mission, incentives, and operational approaches to better address global challenges in order to deliver their core objectives to reduce poverty and achieve SDGs.
  • A significant scaling up of the MDBs is necessary – to dramatically increase the quantity and quality of financing available to low- and middle-income countries – while protecting their triple-A credit-ratings, long-term financial sustainability, and preferred creditor status. This evolution will enable MDBs to be more responsive to global challenges, including by providing more financing to LICs and MICs to address poverty, economic growth, climate vulnerabilities, and other transboundary and global challenges.
  • MDBs must dramatically boost their financial capacity, including by stretching their existing financial resources, especially through aggressive implementation of the G20 recommendations on capital adequacy frameworks and of modernized 21st-century balance sheet practices.
  • This expanded capacity must also come from a strengthening of IDA, through stretching its existing resources and mobilizing additional donor contributions, while pursuing a strong IDA21 replenishment in 2024.
  • Even considering the contributions from stretching the current resources, additional public and private capital will also be needed to fulfill the ambitions of the SDGs and the UNFCCC Paris Agreement. At the same time, MDBs need to mobilize more private capital, including by using innovative new financial instruments (for example, new guarantees to reduce risk premiums related country and currency risks), adjusting internal targets and workforce incentives, and overhauling bank practices and procedures.
  • MDBs must also thoroughly review their operational model to increase their efficiency and impact and ensure the best use of resources, including through enhancing coordination among MDBs and streamlining operations of the various administered funds. Country’s development strategies, Nationally Determined Contributions (NDCs), national roadmaps, and implementation plans are central to guide the deployment of resources in the field.
  • Efforts to engage credit rating agencies must be strengthened to ensure equitable treatment of developing countries (reflecting their economic fundamentals), as well as to integrate a deeper appreciation of the limited risks faced by MDBs – thus offering more space on MDB balance sheets.
  • Developing countries face severe challenges in managing public debt while interest rates are increasing, which can restrict efforts to leverage additional financial resources for the post-pandemic, green and sustainable recovery of the developing world. To respond quickly to the spiraling debt crisis, the International Monetary Fund should raise access limits for the most vulnerable and poorest countries and bolster the Poverty Reduction & Growth Trust (through seeking further donor contributions and considering the use of internal IMF resources). The IMF should also proactively consider temporarily suspending surcharges on lending, and review other ways to enhance its lending toolkit (including concessionality and longer maturities).
  • The international community needs to urgently improve the conditions for coordinated efforts of debtors and creditors to achieve sound debt management, reduce debt vulnerability, improve debt transparency, and attain long-term debt sustainability. At the same time, methods for debt sustainability analysis should be improved, including by better integrating climate-related risks and adaptation efforts aimed at reducing them.
  • Countries in strong reserve positions should consider further SDR channeling pledges or equivalent contributions to meet the total global ambition of $100 billion for countries most in need, including channeling SDRs, where feasible, through the African Development Bank and other MDBs to multiply their impact.
  • The Common Framework for Debt Treatments needs to be implemented with full commitment from all official bilateral creditors, as deeply debt-distressed low-income countries have struggled to secure timely and orderly debt resolutions. Reliable timelines on the Common Framework’s implementation are essential.
  • It is vital that the international finance institutions, governments, and the private sector embrace innovative finance tools across every sector, including new instruments with longer maturities, guarantees, securitization, insurance, risk-sharing instruments, private debt buy back associated with debt swaps (for nature, which seems the most immediately promising avenue, or health and education spending), and other creative mechanisms.
  • In addition, to further strengthen future debt sustainability, bilateral, private sector, and MDB creditors should provide, as a matter of routine, debt suspension clauses, including those which offer a net-present-value-neutral pause in repayments when climate shocks or pandemics hit developing countries. MDBs should explore ways to support countries in this situation ensuring positive net flows of concessional finance.

Supported by: Barbados, Brazil, Costa Rica, Egypt, France, Ghana, Nigeria, Senegal, the United Kingdom, the United Nations Deputy Secretary General, and the participating philanthropies, The Rockefeller Foundation, the Open Society Foundations, the Children’s Investment Fund Foundation, and the Bill and Melinda Gates Foundation.

Global leaders from around the world meet during the Spring World Bank meetings.

The post IMF/World Bank – Spring Meetings Ministerial: Fighting Global Crises & Building Coalitions appeared first on The Rockefeller Foundation.

]]>