Economic Development

Economic Development Strategies to Combat Global Poverty

Supermarkets have become one of the few vital services still functioning during the global Coronavirus pandemic. Supermarket staff deserve great respect for keeping customers safe and supplied with food to sustain us through this unprecedented crisis.
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Partners and supporters of Business Fights Poverty will be as concerned as we are about the impact that Covid-19 is having on people across our shared world, and will be at the forefront of efforts to protect people’s health and livelihoods.
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Neil Fleming shares his first-hand insight into what it’s like supporting small and medium sized businesses globally during the COVID-19 pandemic; highlighting the vital importance of SMEs in job creation now and in the future and the real risk of many businesses going under. Neil is Director at The Challenges Group, an international NGO working across 66 countries, with five offices in sub-Saharan Africa. 
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As of 14 April, Tajikistan had not announced the confirmation of any COVID-19 cases. Over recent months, the authorities have taken drastic measures to help keep the coronavirus at bay. The border with China has been closed since 24 January and entry from Iran was halted on 23 February. All commercial flights were suspended on 20 March and traffic to and from Kyrgyzstan was suspended on 24 March. Schools, however, are still open and people are going to work as normal.
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Join us for a live written discussion with a panel of experts to deepen understanding of the role of partnering in delivering rapid innovation during the COVID-19 global crisis. Taking place on Wednesday, 22 April, 9.00 am EDT / 2.00 pm BST
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Livelihoods of workers in the poorest and most vulnerable countries are being decimated even before the coronavirus sweeps in, as supply chains grind to a halt. This is disastrous for families, triggering an alarming resurgence in poverty. It is bad news for businesses that will want to rebuild, and for consumers in developed countries who depend on robust and resilient supply chains.​
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Globally, in the last couple of weeks, we have seen collaboration apps and start-ups like PhoneSoap and Slightly Robot develop innovations catering to respond to the challenges from the ‘new-normal’, of our lives. From the emerging market context of India, particularly in the state of Kerala, I am noticing a relatively silent (for the global audience), but remarkable response of entrepreneurs and innovators to the pandemic.
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While COVID-19 is hurting all businesses, MSMEs are particularly vulnerable, especially those cash-based informal businesses in developing countries, which have no social protection and are unable to access most forms of government emergency finance, or transition to remote working. A new Action Toolkit has been published to help companies support their MSMEs partners.
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On 31 March 2020, the United Nations published its plan for the global response to the COVID-19 crisis and its socio-economic consequences. The report, “Shared responsibility, global solidarity: Responding to the socio-economic impacts of COVID-19”, calls for a coordinated, multilateral response unprecedented in scale, and which demonstrates solidarity with the world’s most vulnerable communities and nations.
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Our economic system is at a crossroads. We are not only dealing with the COVID-19 pandemic, the single most impactful event of a generation but also the increasing effects of climate change and social inequality are not going away.​
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Business Fights Poverty Briefing with the National Business Compact on Coronavirus, Kenya. This live webinar looked at the action taking place on the ground
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The COVID-19 crisis makes one thing abundantly clear: the social contract between government, business, employees, and people is not working as it should.   
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How business responds to the Corona virus crisis matters hugely. It affects what happens to millions of lives and livelihoods now. And it affects the prospect for building back better. What we do now, will shape the pathway out of this mess. In years to come, suppliers and stakeholders will remember which businesses and brands acted responsibly during the crisis, working through problems together.
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Join us for a live written discussion with a panel of experts to deepen understanding of the role of business in supporting its NGO partners through the impact of COVID-19. The live panel takes place on Thursday, 9 April, 9.00 am EDT / 2.00 pm BST
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Join us for a live written discussion with a panel of experts to deepen understanding of the role of business in supporting its NGO
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Facing unprecedented times globally, this COVID-19 challenge calls for focus, creative thinking, cooperation and collaborative action. COVID-19 is impacting us all, in all walks of life, to the core and dramatically demonstrates our inter-connectivity and interdependence. It is profoundly challenging human health and the human spirit. From a business point of view, this is a defining moment for leadership and action.
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The COVID-19 virus will soon make waves in low-income contexts in South Asia, Africa and Latin America. While these regions have a much younger population than the EU or China, both the disease itself and any measures to keep it from spreading will have a severe impact. The most vulnerable will be hit hardest.
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The current pandemic crisis offers a chance to reimagine our approaches to managing natural resources, argues Martin Noponen of the Rainforest Alliance.
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So the day of reckoning has arrived. Having staggered on zombie like since the financial crisis of 2008, adding environmental (climate, pollution and biodiversity), social (inequality) and political (Trump, BREXIT et al) crises to its charge sheet, Globalisation circa 1980-2020 has finally fallen flat on its face. It’s greatest strength (the fluid movement of capital, jobs, people and manufacturing) ultimately it’s Achilles Heel as the virus spread rapidly across a hyper-connected world.
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COVID-19 is having huge economic impacts, which are felt across all segments of society and all sectors of the economy in countries across the world. But hardest hit will be those working in the gig economy and informal sectors.
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What do we mean by "Economic Development"?

Explore how economic growth can significantly reduce poverty through innovative business initiatives and strategic planning. Join us in making a difference.

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