CMD Speaks
Welcome to August 2015

Dear IPEans

The rains are upon us. And in India, when it rains, it pours.

We look upon road water-logging as an irritant, an inconvenience. But do you remember how in your childhood days that same puddle of water was magical?

We would start a small ripple in it and see it spread.... Or reflect on our reflection in it with various facial expressions... Or indeed make a small paper boat and set it afloat...

A famous Hindi Poem (loosely translated) goes like this:

"Take away my wealth, my fortune, my fame Indeed snatch away my youth, my every gain But do give me back my childhood innocence The happiness of a paper boat in the rain"

As we grew up, we lost our childhood, and with that our ability to dream, to experiment, to hope, to see small things that make a big difference.

Walt Disney said "That's the real problem with the world. Too many people grow up."

In IPE Global, we deal with huge development challenges; and sometimes it makes sense to become childlike. Being in a state of openness, with a mindset of possibilities, assured dreams of success, unlimited hope, and of course, ignorance of what cannot be done.

That's when miracles happen - we stumble upon the secret answer. And our face lights up with happiness like a child.
Best wishes
- Ashwajit Singh

Dear *|FNAME|*

Within the coming months the words “Sustainable Development Goals” will formally see the light of the day where they would no longer be limited to closed door conference rooms . They will become the focal point of governments of many countries forming their development policies and agenda.

After two years of rigorous debates by both the civil society and UN member countries, the development practitioners will now strive to achieve the 17 goals. Many have alleged that these goals are ambitious and far-fetched. The discourse has been centred around sustainable finances for a real time implementation of Sustainable Development Goals. The news of the month elucidates on the discourse.

You can also read about aid received from donors agencies and some development sector highlights.

Happy reading and be Inspired!

- Rebika Laishram , Kriti Pandey

News Of The Month
“The question looming large: How to finance the Sustainable development Goals”

The month of July witnessed first of three major summits scheduled in the year 2015 where world leaders gathered at the Third Conference on Finance for development in Addis Ababa from July 13th - July 17th to find out the means for sustainable finances for achieving the Sustainable Development Goals (SDGs).

The contours of the nature of the discussion was set by the opening remarks of the Secretary-General Ban Ki-moon who began by “You have recognized that in a world in which both the global population and resource constraints are growing, development finance needs a reboot.”

The ground rules for financing the post 2015 sustainable development goals (SDGs) which are to be soon launched at the UN General Assembly in New York in September 2015, were set in Addis Ababa. These formed an outline for new development framework and the future of humanity.

Status of Development funds currently

Amid final set of negotiations, development practitioners, governments, private and public development funders as well as other members of the international community are looking for ways to bridge the gap between the ambitious goals and the available resources for funding.

Up till now domestic investment has been the pillar, accounting for more than the third of all available funding in developing countries whereas foreign aid has just been 0.4% of the available funds. But will the domestic funds suffice for the ambitious SDGs which will come into force by the end of 2015, is something which only time will tell us.

At the Conference on Financing for Development

During the three day conference there were deliberations on the importance of domestic tax resources along with stronger crack down and constrain on multinational companies indulging in tax avoidance and evasion.

But there is an increasing need to raise private finance and international public finance. Many member states also advocated for a global tax body arguing it would help developing states to earn more through tax revenues.

Addis Ababa was definitely a historic moment for the international community but we need to find innovative ways, instruments to target larger investment for the SDGs success. Global economic governance needs to be streamlined for taking up these ambitious goals urgently.

For equitable development is it necessary that leaders also keep in mind the volatile nature of economies in different parts of the world whether it’s the euro crisis, economic slowdown, civil war like situation in some middle east and African countries which are clamouring and diverting our attention more than often from the real development focused agenda.

The developing world needs a sustained and consistent approach to get the desired results it has been aiming through these sustainable development goals.

AID Roundup

India top recipient of US economic aid

India has been identified as the largest recipient of U.S economic assistance over a 66-year period in inflation-adjusted dollars although Washington's pet allies...Click here

India signs $250 million loan pact with World Bank for Andhra project

India has singed a pact with the World Bank for US $250-million financial assistance for Andhra Pradesh Disaster Recovery Project... Click here

ADB to lend $300 million to support India’s National Urban Health Mission

The Asian Development Bank (ADB) signed an agreement with India to lend $300 million to support the National Urban Health Mission (NUHM)...Click here

Development News

India has potential to become multi-trillion dollar economy: World Bank

India has the potential to become a multi-trillion dollar economy with a per capita income of about USD 40,000 by 2050 if it manages to grow at seven per cent... Click here

Urban Development Ministry receives Puducherry as 1st Smart City nomination

In less than a month since the launch of the 'Smart City' Mission by Prime Minister Narendra Modi, Puducherry has emerged as the first city to send its nomination to... Click here

Govt to launch 6 new circuits to boost tourism in India

Government will soon launch six tourist circuits in a big way to provide a boost to the sector. Government has finalised a blue print for growth of tourism and more tourist...Click here

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