WAIPA delegation for high-level talks in the US January 9-13th

Logos US week January 2017

9th January -13th January 2017

WAIPA CEO Bostjan Skalar; Deputy CEO Ismail Ersahin and Communications Advisor, Aisha Sarwari visited the United States (NY and DC) from 9th to 13th January 2017.

A series of meetings took place with:

  • Under-Secretary-General of the United Nations, Gyan Chandra Acharya. Acharya is the United Nations Under-Secretary-General and High Representative for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States (UNOHRLLS).
  • United Nations Capital Development Fund (UNCDF) Head of Partnerships, Policy and Communications Esther Pan Sloane and Knowledge, Policy and Advocacy Officer, Simona Santoro
  • Director of the Center for Sustainable Development at Columbia University, Lisa Sachs, Resident Senior Fellow, PhD, Karl Sauvant and Jeffrey Sachs, Professor and Director of the Earth Institute at Columbia University, New York.
  • UN Global Compact Executive Director, Lise Kingo
  • USAID Financial Sector Specialist, Autumn Gorman
  • The World Bank Investment Policy Global Lead of the Investment Climate Unit, Roberto Echandi and all Investment Team leads.
  • IEDC’s Vice President of Knowledge Management and Development, Lynn Knight and Economic Development Associate, Mishka Parkins

The first agenda item of this visit was to turn the current strong coordination with existing organizational networks into concrete steps. The main idea was to work on the implementation of WAIPAs strategy to further the role of IPAs by intensive capacity development programs in association with these networks. Secondly to seek private sector engagement for WAIPA’s efforts towards putting IPAs more into the forefront of the UN SDG agenda.

9th January 2017

WAIPA UN-OHRLLS join forces to support LDC IPAs

WAIPA CEO Bostjan Skalar met with Under-Secretary-General of the United Nations, Gyan Chandra Acharya on January 9 2017.

The current situation of IPAs in Least Developing Countries (LDCs) was discussed.  Officials agreed that IPAs from LDCs need to be strengthened and comprehensive training programs should be designed and implemented according to the maturity level of these LDCs. A scoping study was proposed and a timeline was set for its implementation.

There was an exchange of ideas on the effective involvement of investors as active stakeholders in the global development. This requires all resources to be brought together. There is a pressing humanitarian side to development in LDCs and development banks, donors and the private sector need to work together for a strong strategic push.

WAIPA and UNCDF Agree to Collaborate

The discussion was focused on local development particularly by driving finance to less economically mature economies. IPAs are central to bridging the business community and governments in LDCs. It was agreed that the thinking of bureaucracies needs to be transformed. They should be encouraged to take a pro-business approach.

WAIPA and UNDCF agreed to collaborate and promote each other to create policy frameworks for IPAs in LDCs.

WAIPA CEO Meets with Jeffrey Sachs

The importance of pushing the sustainability narrative on the investment map was the key topic of the discussion. For this there is to be a strengthening between the national banks and IPAs to empower them financially for SDG projects. IPAs should be fully involved in the strategy to achieve SDGs.

Among several other topics, WAIPA and Sachs discussed to work on preparing research materials such as white papers on SDGs together. It was agreed that there is an immediate need to develop an indicative list of sustainable FDI to promote SDGs. Sachs was invited to the WIC 2017 conference as keynote speaker.

January 10th , 2017

WAIPA CEO Meets with UN Global Compact Executive Director Lise Kingo

WAIPA and Kingo agreed that it is essential to know how companies are pursuing SDG goals. The available (quantitative) data on FDI fails to explain the quality. It is essential, they agreed, to promote investment support for SDGs.

Various bodies along the investment cycle are not as involved as the companies are and their bureaucratic structure sometimes hinders swift measures. Toolkits should be developed to enhance capacities of other stakeholders in working with the governments.

WAIPA and USAID to address Gaps in development

The discussion was specific to closing down the 2.5 trillion dollar gap in SDGs. It was emphasized that investment can fill this gap Funds are not the only way to do this, strategic collaborations could also be a way forward. Local and Foreign investments can lead the way to sustainability.

January 12th, 2017

WAIPA – World Bank to enhance collaboration with joint projects

The World Bank team presented a detailed workshop on the investment cycle for the WAIPA team.

The workshop presented the World Bank’s findings what drives investment and why investments fail in developing countries and how to change this situation.  To promote FDI there should be sound investment linkages and spillovers. Locals must be at the center of investment. Local development drives the political aspect of investment in developing countries.

Linkage development collapses due to information, coordination or supply failures. Restrictive investment and visa regimes are a major hindrance for investors.  Only existing investors agree to reinvest, to attract new players there is an immediate need to protect investors, both at local and international level.

IPAs stand at the center. They need to involve the governments proactively. The new framework for investment must align IPAs with the development agenda.  There is a very important subnational dimension to investment with lower levels of governments moving for assistance and the central governments delegating responsibilities.

Several other collaborations are also underway between WAIPA and World Bank as well.

January 13th, 2017

IEDC Executive Training programs

Building on WAIPA and IEDCs continuous collaborations, it was imperative that future trainings will be jointly executed particularly in regions of interest for both IEDC and WAIPA. These trainings could be executive trainings or management trainings but would cover the business aspects of investment promotion.

IEDC’s professional development and training modules are currently under review and new coursework for WAIPA members will be announced in the spring of 2017.