Policy Updates

On October 21, 2024, Japan announced an emergency grant of US$10 million in response to Lebanon’s worsening humanitarian situation.

This assistance will be delivered through organizations like UNHCR, WFP, UNICEF, IOM, and ICRC, focusing on essential needs such as shelter, food, water, and healthcare.

The funding will be allocated as:

• UNHCR: Shelter and non-food items (US$5 million);
• WFP: Food assistance (US$2 million);
• UNICEF: Water, sanitation, and hygiene (US$1 million);
• IOM: Site management and non-food items (US$1 million); and
• ICRC: Health and medical services (US$1 million).

Japan also called for restraint in the ongoing conflict between Israel and Hezbollah, urging diplomatic efforts to avoid further escalation.

On October 16, 2024, South Korean Minister of Foreign Affairs Taeyul Cho met with UNDP Administrator Achim Steiner during his visit to South Korea and discussed ways to strengthen the relationship between South Korea and UNDP.

Cho expressed his hope that the UNDP Seoul Policy Centre will catalyze in the process of sharing South Korea’s development experiences. He also introduced that South Korea will serve as a member of the UN’s three major organizations: the Security Council, Economic and Social Council, Human Rights Council, next year, and highlighted the HDP Nexus. To this end, the two sides sought ways to strengthen specific cooperation projects.

Steiner remarked that South Korea has been a great model for continuously expanding its ODA and expressed deep gratitude for the significant expansion of its contribution to the UNDP this year. This meeting was held again in Seoul a month after Minister Cho and Steiner had talks during the 79th High-Level UNGA in New York last month, which indicates cooperation between South Korea and UNDP continues to strengthen.

On October 15, 2024, JICA signed a loan agreement with the ADF to provide a Japanese ODA loan of up to JPY51.7 billion (US$342 million) for the 16^th replenishment of the fund.

The agreement, signed in the presence of Japan’s Deputy Vice Minister of Finance for International Affairs and ADF President Akinwumi Adesina, aims to strengthen cooperation to support Africa’s development.

The ADF provides long-term, low-interest financing to Africa’s least developed countries. This loan will contribute to economic growth and poverty reduction, supporting SDG #1 , SDG #9, and SDG #17.

On October 17, 2024, the EIB and KCB Bank Kenya announced EUR230 million (US$254 million) to support small and medium enterprises, as well as youth and women at Global Gateway Team Europe’s IYBA initiative.

The EIB provided a EUR115 million (US$117 million) credit line to be matched by Kenya. This is the largest EIB financing support to businesses in Kenya so far. The Gates Foundation will provide technical assistance and help women with low incomes access finance through digital technology and risk sharing.

The IYBA initiative, supported by the EU, its Member States, and financial institutions, is meant to help create bankable and sustainable businesses, which in turn will create jobs. The initiative provides capital for startups and businesses at their early stages, helps build capacity, and provides technical assistance. Since 2021, IYBA has supported thousands of micro, small, and medium-sized businesses across Sub-Saharan Africa.

Out of EUR230 million (US$ 254 million), EUR30 million (US$33 million) will be allocated to women-led or owned microenterprises, EUR100 million (US$111 million) to capital and new investments for SMEs targeting women-owned businesses. EUR100 million (US$111 million) will focus on businesses led or founded by young entrepreneurs, or employing at least 40% young people.

On October 17, 2024, the UK's Minister for International Development Anneliese Dodds outlined the government's new approach for ODA, in her first major speech.

The UK has previously spent 30% of its ODA budget on IDRCs , Dodds outlined in the speech that the Home Office Secretary, who has jurisdiction on this spend, will seek to rectify burgeoning costs on in donor refugees, as well as new financing with the EU to help with migration.

The speech also highlighted the Prime Minister's call to all donors to make the most of the IDA replenishment and She confirmed that the UK will be ambitious and will be increasing its IDA21 pledge.

She reiterated the need for multilateral partnerships such as GAVI and the Global Fund as well as the need to accelerate reform of multilateral development banks.

In the speech, it was noted that her recent Sudan trip had a huge impact on the Minister where she saw the acute need in East Africa, and the risk of famine in Sudan.

The speech outlined that the UK is home to research and innovation on everything from nutritious and resilient crops, to new medicines and vaccines, cleaner mining, and emerging technologies.

On October 16, 2024, the South Korean MOFA held a meeting on humanitarian assistance to Afghanistan with UN organizations including WFP, UNICEF, UNHCR, UNFPA, and IOM.

As South Korea has provided humanitarian assistance worth a total of US$74 million from 2021 to 2023 through international organizations in Afghanistan, they examined the current status of the South Korean government’s humanitarian projects and shared evaluations. Each organization evaluated that South Korea’s support contributed to improving the humanitarian response to the food crises and natural disasters in Afghanistan.

On October 16, 2024, the CGD published a data visualization tool and report outlining the upcoming multilateral replenishments.

Over 2024-2025, almost all the major multilateral concessional funds—including World Bank’s IDA, GAVI, the Vaccine Alliance; and the Global Fund —will seek to raise what could amount to over US$100 billion in grants from donors.

The CGD analysis outlined that since 2010, the core multilateral share of ODA has dropped from 23% to 18% percent in 2022. Instead, the largest donor governments are opting to channel ODA bilaterally. The CGD believes that this is largely due to growing skepticism of multilateralism and foreign assistance alongside inward-facing political priorities across advanced economies.

There are several pledging events scheduled before the end of the year: the Pandemic Fund in end October, WHO’s inaugural Investment Round in mid-November, and the World Bank’s IDA pledging meeting in early December. GAVI is also seeking to raise US$9 billion, though timing for its pledging conference is yet to be confirmed.

To combat this, the CGD has suggested that donors must make a clear-eyed assessment of the entire landscape of funds, and highlighted the need for ambitious—yet feasible—policy proposals to ensure a more effective and sustainable system that responds to the needs and priorities of low- and middle-income countries.

On October 16, 2024, the South Korean MOFA and the Seoul Policy Centre of UNDP co-hosted 2024 Seoul Debates under the theme of Empowering Climate Action with Digital Technologies: How to initiate lasting and inclusive change to achieve the SDGs.

The Seoul Debates is an international conference co-hosted by MOFA and UNDP Seoul Policy Centre since 2013 to share South Korea’s experience in development cooperation.

The 2^nd Vice Minister of Foreign Affairs Insun Kang, UNDP Administrator Achim Steiner, and government officials and representatives from the private sector, academia, and civil society attended the event. Vice Minister Kang called for more efforts for AI and digital technologies utilization and partnerships with the private sector. She also highlighted South Korea’s expansion of green ODA projects and UNDP’s Climate Promise program in her congratulatory remarks.

The MOFA will actively share its development experiences and policies with the international community through dialogues.

On October 16, 2024, Australian Minister for International Development and the Pacific Pat Conroy launched a new policy for Australian humanitarian action.

Conroy said the policy would focus on three priority areas:

• Enhancing preparedness with international partners;
• Responding to disasters and crises by delivering support to affected populations, and provide protection for the most vulnerable with a focus on both immediate and long term needs; and
• Providing reinforcement to the international humanitarian system and take steps to improve adherence to international humanitarian law.

The policy maintained Australia’s overall focus on the Indo-Pacific region.

On October 16, 2024, Canadian Minister of International Development Ahmed Hussen announced CAD23 million (US$17 million) for the Aequitas Impact Investment Fund and over CAD6 million (US$4 million) for the fund’s Technical Assistance Facility to improve access to financial services for underserved global populations.

The 12-year project is in partnership with DID. The Aequitas Impact Investment Fund invests in small-scale financial institutions in LIC and LMICs across Africa, Asia, Eastern Europe, and Latin America to help them improve the availability of financial products, such as bank accounts, loans, and insurance.

The project will support entrepreneurs who run micro, small, and medium-sized businesses, including women, youth and small-scale farmers.