The World Health Organisation (WHO) has welcomed the landmark launch of the world’s first malaria vaccine in Malawi this week. Malaria kills an estimated 435,000 people each year, most of them children, with efforts to develop an effective vaccine falling short in the past. While efforts have been made to control the spread of malaria in recent decades through the use of bed nets and other measures, progress has stalled and the hope is this new vaccine, known as RTS,S, can help save tens of thousands more lives.
Amit Bouri, CEO of the Global Impact Investing Network (GIIN), believes the impact investing sector is facing a ‘fork in the road’. Noting impact investing remains a marginal part of the global financial system, Bouri argues that advocates of impact investing need to look beyond the niche impact investing has established for itself and push investors across the financial sector to regard the social and environmental impacts of their investments as being as important as their financial value.
A new paper from two Stanford University professors shows the global wealth gap between rich countries and poor countries would be smaller if it weren’t for the impact of climate change. The study found that when temperatures were hotter than average over the past 50 years economic activity slowed in poor countries and accelerated in rich countries. The researchers used a model to estimate what individual country’s economic performance would’ve been without the rise in temperatures over the same period and found that climate change reduced per capita incomes in the world’s poorest countries by between 17% and 30%.
China is seeking the UK’s help to boost the credibility of the country’s Belt and Road Initiative. In an article in London’s Evening Standard, China’s Ambassador to the UK Liu Xiaoming suggested the two countries could cooperate on ‘rule-making’ to offset claims the Belt and Road Initiative is deliberately opaque to conceal China’s true motives for offering finance to countries.
The UK Department for International Development (DFID) has moved to ensure the continuation of EU-funded aid programs delivered by UK NGOs in the event of a no-deal Brexit. The EU will terminate funding for some of these programs if the UK leaves with no deal and so DFID has stated it will continue to fund the ‘post-exit’ outputs of these programs if no deal is reached and the EU pulls its funding. DFID’s commitment will apply to applications made right up until the UK’s last day as a member of the EU.
The Asian Development Bank’s (ADB) Independent Evaluation Department (IED) says the ADB’s new long-term corporate strategy, Strategy 2030, need to be accompanied by a ‘strong focus on results supported by an improved corporate results framework.’ Strategy 2030 came into effect this year and is intended to steer ADB’s approach addressing challenges in Asia and the Pacific.
The OECD’s latest official development assistance (ODA) figures showed a decline in global aid levels for the second year in a row with the countries containing 75% of the world’s poorest receiving only 35% of the world’s ODA. Sara Harcourt, a senior policy director at The ONE Campaign, has looked at the data to try and understand why aid is not going to those who need it most.
East African Legislative Assembly (EALA) member Mathias Kasamba is calling for East African Community (EAC) partner states to create a body to deal with regional food security and nutrition. Kasamba said the EAC was focusing on political, economic, and infrastructural co-operation and ignoring the role of agriculture in the region, and that a body focused on agriculture could help the region realise its agricultural potential and improve quality of life in the region.
The Asian Infrastructure Investment Bank (AIIB) has approved the membership requests of four new countries: Côte D’Ivoire, Guinea, Tunisia and Uruguay. The AIIB is a multilateral development bank China established in 2016 to invest in infrastructure projects in Asia.