Latest news with #UNIDO
Kuwait Times
19 hours ago
- Business
- Kuwait Times
Kuwait Fund lights up in blue to mark World Refugee Day
KFAED, UNIDO ink deal to support fragile states KUWAIT: The Kuwait Fund for Arab Economic Development (KFAED) illuminated its headquarters in blue on Thursday in solidarity with refugees worldwide, reaffirming its humanitarian commitment on the occasion of World Refugee Day. The symbolic gesture reflects Kuwait's longstanding support for displaced populations and its call for international solidarity to alleviate their suffering. Acting Director General of KFAED, Waleed Al-Bahar, stressed in a press statement that both the State of Kuwait and the Fund have played a vital role in extending aid to refugees globally, working in collaboration with various UN agencies and international organizations dedicated to refugee and human rights issues. Al-Bahar noted that the Fund maintains strong partnerships with the United Nations High Commissioner for Refugees (UNHCR), the UN Relief and Works Agency for Palestine Refugees (UNRWA), and UNICEF. It also collaborates with institutions such as the Children's Cancer Center in Lebanon, the King Hussein Cancer Foundation in Jordan, and the Kuwait Red Crescent Society (KRCS) to implement projects aimed at improving the living and health conditions of Syrian, Palestinian, and Rohingya refugees. 'This cooperation stems from our firm belief in the need to secure a dignified life and protect the rights of refugees in a sustainable manner,' he said, highlighting Kuwait's historic humanitarian efforts in supporting vulnerable communities across the globe. Al-Bahar underlined that World Refugee Day, observed annually on June 20, serves to honor the strength and resilience of displaced individuals forced to flee due to war, persecution, or natural disasters. He reaffirmed KFAED's continued efforts to enhance refugees' living conditions through impactful partnerships with regional and international stakeholders. Acting Director General of the Kuwait Fund for Arab Economic Development, Waleed Al-Bahar, with Director General of the United Nations Industrial Development Organization (UNIDO), Gretchen Mulller.- KUNA photos KFAED, UNIDO ink deal Separately, on the sidelines of the 4th OPEC Fund Development Forum held in Vienna, KFAED signed a joint coordination framework with the United Nations Industrial Development Organization (UNIDO) to identify and finance development projects in conflict-affected regions. Speaking to KUNA, Al-Bahar said the agreement marks the first official collaboration between KFAED and UNIDO, aiming to facilitate development efforts in fragile states, including the occupied Palestinian territories, Syria, Yemen, and Sudan. 'This memorandum is a starting point for strategic long-term cooperation,' Al-Bahar said, adding that the initiative will leverage UNIDO's technical expertise to deliver sustainable solutions in crisis-hit areas. For his part, UNIDO Director General Gerald Müller underscored the agency's focus on implementing practical, high-impact projects, particularly in Africa and Latin America. He highlighted the importance of strong partnerships to enhance industrial development, food security, and renewable energy deployment in vulnerable regions. 'Our core work centers on implementation,' Müller stated, emphasizing the organization's experience in hydrogen energy, infrastructure networks, and water and energy management. He noted that food security remains a priority area for Arab and African nations, and UNIDO brings substantial technical experience to this sector. The 4th OPEC Fund Development Forum, held under the theme 'Transformation Empowers Our Future,' brought together heads of state, policymakers, experts, and innovators to advance inclusive growth and equitable transformation, with a focus on South-South cooperation.- KUNA
Zawya
5 days ago
- Business
- Zawya
Africa Finance Corporation (AFC), United Nations Industrial Development Organization (UNIDO) and partners enter new alliance leveraging Islamic and Arab finance for economic transformation
Today, Africa Finance Corporation (AFC) ( UNIDO, the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) and the Union of Arab Banks (UAB), formalized new strategic partnerships under the Islamic and Arab Finance for Economic Transformation in Africa, the Arab Region and Beyond (IFETAA) Programme. Access to finance remains one of the most significant barriers to SME growth and economic transformation, particularly in Africa, the Middle East and South Asia. Only one in five African firms has access to credit, and those that do often face prohibitively high interest rates averaging 25 percent, compared to just 5 percent in Europe. Islamic finance, with over US$4 trillion in assets, offers a largely untapped opportunity to address this gap by directing capital stored in monetary markets into the real economy. IFETAA represents a new alliance that will drive capital and capacity towards MSME development, resilience and growth across low- and lower middle-income countries. The signing ceremonies of the 3 Memorandum of Understanding (MoU) took place ahead of a high-level roundtable at the Hofburg Palace in Vienna, held on the margins of the OPEC Fund Development Forum, and marked the formalization of the programme. 'As traditional development funding continues to decline, Islamic and Arab financial institutions are emerging as key partners in driving industrialization and sustainable development', said UNIDO Director General Gerd Müller. 'Through this programme, we are building a powerful new alliance to support small and medium-sized businesses, increase productivity and resilience, and accelerate economic transformation in developing countries'. 'The IFETAA Programme will unlock urgently needed capital for Africa's economic transformation and AFC is proud to bring its unique expertise in both conventional and Islamic finance to mobilise funding at scale,' said Banji Fehintola, Board Member and Head of Financial Services at AFC. 'As an issuer, guarantor, and investor, we are committed to delivering innovative, Shariah-compliant solutions that drive inclusive and resilient economic growth, whilst contributing to strengthening the south-south cooperation required to advance our shared development goals'. H.E. Shaikh Ebrahim Bin Khalifa Al Khalifa, Chairman of AAOIFI and the International Center for Entrepreneurship and Innovation announced that ' AAOIFI is proud to contribute to this transformative partnership, which aligns Islamic finance with global development priorities and encourages Islamic financial institutions to voluntarily dedicate at least 20% of their financing – over US$1 trillion – to MSME development. We will work on developing a Shariah-compliant finance programme enriched with technical assistance, regulatory support, and capacity building. IFETAA will also leverage UNIDO's globally recognized Enterprise Development and Investment Promotion model (EDIP)'. By integrating Islamic finance with proven entrepreneurship and business counseling interventions, IFETAA will empower MSMEs to become bankable, resilient, and key drivers of inclusive economic growth. Dr. Wissam Fattouh, Secretary General of the Union of Arab Banks, stated: 'IFETAA is more than a programme – it is a call to action. The Union of Arab Banks is proud to unite Islamic and Arab financial power to serve sustainable development and economic sovereignty. We are mobilizing capital not just to fund growth, but to shape the future of our region. This is about empowering MSMEs, restoring trust in financial systems, and building resilient, inclusive economies'. IFETAA is a direct outcome of the commitments made at UNIDO's A World Without Hunger conference in Addis Ababa in 2024. There, AAOIFI pledged to mobilize 20 percent of Islamic Financial Institutions' loans and advancements towards MSME development, while UAB reaffirmed its commitment to channel US$1 trillion from its member banks towards the Sustainable Development Goals (SDGs). AFC, a close partner to UNIDO, expressed its support through its financial mechanisms and expertise. IFETAA will facilitate access to finance by developing a pipeline of bankable MSME projects, establish financial and non-financial de-risking mechanisms, and support host governments in strengthening regulatory frameworks to expand Islamic and conventional bank lending. UNIDO has committed US$500,000 to support the preparation of the IFETAA programme and its initial implementation, which is co-led by the UNIDO Task Force on Islamic and Arab Financing and UNIDO's Investment and Technology Promotion Office in Bahrain. Each of the partner institutions brings unique strengths to the programme. AAOIFI, headquartered in Bahrain, is the world's leading standard-setting body for Islamic finance and plays a critical role in ensuring Shariah compliance and supporting regulators and financial institutions globally. Beirut-based UAB represents over 300 Arab banks and financial institutions while serving as a regional platform for aligning Arab banking practices with global trends, including Islamic finance, ESG, and digital transformation. AFC is a pan-African multilateral financial institution specializing in infrastructure development. It has been expanding its use of Islamic finance instruments, recently closing a US$400 million Shariah-compliant Commodity Murabaha facility. AFC made history in 2017 by issuing a US$230 million Sukuk, the first-ever by an African supranational institution. Distributed by APO Group on behalf of Africa Finance Corporation (AFC).
United News of India
7 days ago
- Business
- United News of India
India's packaging sector evolving rapidly, poised to lead Asia's sustainable shift: Chakravarthi
Hyderabad, June 15 (UNI) Hyderabad-based global packaging expert Chakravarthi AVPS, Chairman and Managing Director of Ecobliss India and Global Ambassador of the World Packaging Organisation (WPO), said that India's packaging sector is evolving rapidly and holds the potential to lead Asia's transition toward sustainable food systems. Delivering the keynote address at an international roundtable organized by the United Nations Industrial Development Organization (UNIDO) in Bangkok, Thailand on Saturday, Chakravarthi emphasised that 'India's food waste problem has a packaging fix.' He urged policymakers and industry leaders to reframe packaging not as a cost burden but as a value-preserving investment, pointing out that the country loses up to 30 percent of its food post-harvest due to inadequate packaging, handling, and cold-chain infrastructure. Highlighting India's advancements in sustainable packaging, he showcased innovations such as active and intelligent packaging for dairy and perishable products, eco-friendly materials derived from banana fibre, areca leaf, and sugarcane bagasse, state-led traceability pilots for horticulture and seafood exports, the rise of green-tech packaging startups, and the expansion of cold-chain and research infrastructure. Chakravarthi's remarks were widely appreciated by stakeholders from over 15 participating nations. The roundtable featured several distinguished speakers, including Ms Luciana Pellegrino, President of the WPO; Ali Badernah, Divisional Chief, UNIDO; and Eelke Westra, Programme Manager at Wageningen University & Research (WUR). The session was moderated by Dr Johannes Bergmair, General Secretary of the WPO. The panel collectively emphasised the crucial role of packaging in ensuring food safety, reducing losses, and achieving the United Nations' Sustainable Development Goals (SDGs). A significant outcome of the session was the release of a joint research paper, titled 'Navigating the Food Loss and Waste Paradox: Balancing Food Loss Reduction with Save Food Packaging.' Co-authored by UNIDO, WPO, and WUR, the report presents a methodology-driven roadmap for reducing food waste through smart, sustainable packaging practices. The global forum reinforced India's rising influence and thought leadership in the field of sustainable packaging, positioning the nation at the forefront of resilient and eco-friendly food system development across Asia, a statement said on Sunday. UNI VV SS
Zawya
02-06-2025
- Business
- Zawya
Egypt launches campaign to curb single-use plastic pollution amid global climate push
Egypt's Minister of Environment, Yasmine Fouad, on Sunday launched a nationwide awareness campaign titled 'Reduce It' to combat single-use plastic pollution, aligning with World Environment Day 2025 and its global theme, 'Beat Plastic Pollution.' The initiative, supported by the United Nations Industrial Development Organization (UNIDO) and the Government of Japan, aims to reduce the environmental impact of single-use plastics and promote sustainable alternatives across the country. Held in Cairo, the campaign launch brought together senior representatives from government, international organizations, the private sector, and civil society. Among the attendees were Japan's Ambassador to Egypt, Oka Hiroshi, UNIDO Regional Director Patrick Gilabert, industry leaders, and officials from the Ministry of Environment and waste management authorities. Minister Fouad thanked President Abdel Fattah Al-Sisi for his continued support of Egypt's environmental efforts, describing his endorsement of the national plastic reduction strategy as a 'cornerstone' of the country's broader environmental agenda. She emphasized that the campaign builds on a multi-year initiative to introduce standards for plastic alternatives, balancing the interests of manufacturers and consumers. 'We are shifting the focus from bans to gradual reduction—especially in anticipation of a future global, legally binding agreement on plastic pollution,' Fouad said, referencing current negotiations led by the UN Environment Programme. Fouad outlined the economic and environmental advantages of reducing plastic use, including lower import costs for raw materials, reduced production expenses, and new opportunities for local industries to develop eco-friendly alternatives. She also pointed to serious health and ecological risks—citing marine and livestock harm observed in Egypt's southern Red Sea protectorates. Transitioning to sustainable alternatives, she noted, will require modern technology, regulatory clarity, and skilled labor—all supported by Egypt's new investment law, which prioritizes green industries such as plastic alternatives. Japan's Ambassador, Fumio Iwai, praised the campaign as a continuation of the 2019 agreement between President Al-Sisi and the Japanese government, emphasizing Japan's support for SMEs in adopting greener practices. 'We believe this effort will help position Egypt as a regional hub for environmental innovation and sustainability,' he said. UNIDO's Patrick Gilabert echoed this sentiment, explaining that the campaign is part of a broader project to embed circular economy principles within Egypt's plastics value chain. Funded by Japan, the initiative aims to reduce plastic consumption, raise awareness, and strengthen technical capacity within local businesses. Gilabert noted that UNIDO is currently supporting 23 environmental projects in Egypt worth approximately $3.5bn, with an additional $4.6bn planned under Egypt's Vision 2030. Short films were screened at the event, highlighting the dangers of single-use plastics and the goals of the 'Reduce It' campaign. A panel discussion followed, focusing on regulatory approaches and circular economy practices in Egypt's plastics industry. The campaign forms part of Egypt's broader national strategy to phase out harmful plastic products and is embedded within the 'Enhancing Circular Economy Practices in the Single-Use Plastics Value Chain' project, jointly implemented by UNIDO and supported by the Japanese government. Officials say the initiative is expected to reduce demand for virgin plastic by promoting reusable alternatives—helping to cut carbon emissions, reduce environmental degradation, and improve public health. It also aims to stimulate green industry growth, create jobs in recycling and sustainable manufacturing, and reduce Egypt's reliance on imported materials. In closing, Minister Fouad thanked key partners—including UNIDO, the World Bank, the Japanese Embassy, Egyptian lawmakers, and civil society groups—for their support. She reaffirmed her commitment to championing African climate and sustainability priorities in her upcoming role as Executive Secretary of the United Nations Convention to Combat Desertification.
Daily News Egypt
02-06-2025
- Business
- Daily News Egypt
Egypt launches campaign to curb single-use plastic pollution amid global climate push
Egypt's Minister of Environment, Yasmine Fouad, on Sunday launched a nationwide awareness campaign titled 'Reduce It' to combat single-use plastic pollution, aligning with World Environment Day 2025 and its global theme, 'Beat Plastic Pollution.' The initiative, supported by the United Nations Industrial Development Organization (UNIDO) and the Government of Japan, aims to reduce the environmental impact of single-use plastics and promote sustainable alternatives across the country. Held in Cairo, the campaign launch brought together senior representatives from government, international organizations, the private sector, and civil society. Among the attendees were Japan's Ambassador to Egypt, Oka Hiroshi, UNIDO Regional Director Patrick Gilabert, industry leaders, and officials from the Ministry of Environment and waste management authorities. Minister Fouad thanked President Abdel Fattah Al-Sisi for his continued support of Egypt's environmental efforts, describing his endorsement of the national plastic reduction strategy as a 'cornerstone' of the country's broader environmental agenda. She emphasized that the campaign builds on a multi-year initiative to introduce standards for plastic alternatives, balancing the interests of manufacturers and consumers. 'We are shifting the focus from bans to gradual reduction—especially in anticipation of a future global, legally binding agreement on plastic pollution,' Fouad said, referencing current negotiations led by the UN Environment Programme. Fouad outlined the economic and environmental advantages of reducing plastic use, including lower import costs for raw materials, reduced production expenses, and new opportunities for local industries to develop eco-friendly alternatives. She also pointed to serious health and ecological risks—citing marine and livestock harm observed in Egypt's southern Red Sea protectorates. Transitioning to sustainable alternatives, she noted, will require modern technology, regulatory clarity, and skilled labor—all supported by Egypt's new investment law, which prioritizes green industries such as plastic alternatives. Japan's Ambassador, Fumio Iwai, praised the campaign as a continuation of the 2019 agreement between President Al-Sisi and the Japanese government, emphasizing Japan's support for SMEs in adopting greener practices. 'We believe this effort will help position Egypt as a regional hub for environmental innovation and sustainability,' he said. UNIDO's Patrick Gilabert echoed this sentiment, explaining that the campaign is part of a broader project to embed circular economy principles within Egypt's plastics value chain. Funded by Japan, the initiative aims to reduce plastic consumption, raise awareness, and strengthen technical capacity within local businesses. Gilabert noted that UNIDO is currently supporting 23 environmental projects in Egypt worth approximately $3.5bn, with an additional $4.6bn planned under Egypt's Vision 2030. Short films were screened at the event, highlighting the dangers of single-use plastics and the goals of the 'Reduce It' campaign. A panel discussion followed, focusing on regulatory approaches and circular economy practices in Egypt's plastics industry. The campaign forms part of Egypt's broader national strategy to phase out harmful plastic products and is embedded within the 'Enhancing Circular Economy Practices in the Single-Use Plastics Value Chain' project, jointly implemented by UNIDO and supported by the Japanese government. Officials say the initiative is expected to reduce demand for virgin plastic by promoting reusable alternatives—helping to cut carbon emissions, reduce environmental degradation, and improve public health. It also aims to stimulate green industry growth, create jobs in recycling and sustainable manufacturing, and reduce Egypt's reliance on imported materials. In closing, Minister Fouad thanked key partners—including UNIDO, the World Bank, the Japanese Embassy, Egyptian lawmakers, and civil society groups—for their support. She reaffirmed her commitment to championing African climate and sustainability priorities in her upcoming role as Executive Secretary of the United Nations Convention to Combat Desertification.
