UNDP, UNGC, ICC support Ghana’s economy to better recover from the impact of the coronavirus

General news for Monday, September 28, 2020

Source: thepublisheronline.com

2020-09-28

Ghana has been selected from just four initial countries worldwide to receive financial support from the Global Private Sector Fund for Coronavirus, which was established by the United Nations Development Program (UNDP), the United Nations Global Compact. United (United Nations Global Compact) and the International Chamber of Commerce (ICC).

The other three selected countries are Colombia, the Philippines and Turkey. This was announced by UNDP Administrator Achim Steiner at the SDG Business Forum during the UN General Assembly last week, the largest and most inclusive convocation of private sector leaders in the UN, under the slogan “Recover better together ”.

The COVID-19 Global Private Sector Fund is a global initiative and collaboration that brings together public and private sector partners to help local communities better recover from the pandemic. It is a response to corporate calls to action for private sector leaders and governments to work together to address the negative impacts of the coronavirus pandemic.

Emmanuel Doni-Kwame, Secretary General of ICC Ghana in a statement said: “The pandemic has radically changed the lives of business people and the economic environment of their countries, especially in Africa. With the focus on Ghana, we stand ready to support the expansion of this global impact initiative to help redefine the future of business. “

Ms Valentina Mintah, ICC Executive Board Member, said: “The Global Fund will provide practical support for the real economy, through national projects targeting the needs of SMEs.

“These will range from training in digital skills to the execution of major infrastructure projects. The inclusion of Ghana in the initial 4 participating countries serves as a solid foundation for Africa, as the geographic reach expands and the Mechanism develops.

In a video recording message played at the SDG Business Forum during the UN General Assembly, Ms. Mintah stated: “Small business owners and entrepreneurs want their challenges understood, their ideas heard and your efforts to recover better, are recognized and built by others. SMEs need a way to facilitate this vital exchange of ideas, learning and experience with each other and with organizations and institutions that are in a position to support them ”.

Achim Steiner said: “As COVID-19 disrupts societies, development agendas must be adjusted accordingly. There is a need for inclusive multilateralism, based on critical contributions from civil society, business, foundations, the research community, local authorities, cities, and regional governments. By unlocking public-private and private-private cooperation for a sustainable response to the challenges of COVID-19, it is possible to recover better and build more resilient economies. “

He said the Mechanism is the first of its kind, designed to join forces in the public and private sectors to serve humanity at an imperative time, adding that “Solidarity to ‘Better Recover Together’ can boost our collective efforts not just to face the crisis but overcome it.

UNDP’s presence in some 170 countries and territories, combined with the United Nations Global Compact network of more than 10,000 companies and 68 local networks worldwide, and the International Chamber of Commerce network of more than 45 million of companies, multiplies our collective capacity and potential ”.

Private sector participation:

The global private sector COVID-19 facility is supported by strategic partners DHL, Microsoft and PwC, and is open to other like-minded private sector organizations who wish to join the initiative. Strategic partners are expected to add their expertise and technology to support this transformative recovery.

The Global Fund will operate both globally and nationally. Its objective is to co-create solutions that adapt to the phase of the COVID-19 pandemic in each area and the specificities of the local private sector and government context. The geographic scope and participating partners are expected to expand as the Global Fund develops.