Iran has had a long list of sanctions against it since its revolution in 1979 when hostages were held in the U.S. embassy in Tehran. Since then, Iran has had several restrictions imposed by the United Nations, the European Union and some individual countries like Japan and South Korea.
Due to this, the country has had limited access to the outside world, including its financial and banking sector, which has affected credit access in Iran. In January 2016, most of the sanctions were lifted after Iran met the obligations of the nuclear deal signed in April 2015. The prolonged sanctions and recession have affected small-scale domestic businesses, as they could not secure funding from banks and financial institutions due to high-interest rates.
With the lifting of the sanctions, various government organizations and international banks are eager to sign agreements with the country. China, South Korea, Austria and Denmark are among the notable countries that are taking steps to facilitate financial transactions with Iran.
Iran is building relationships with small foreign banks that are not hindered by the restrictions imposed on the country. The Central Bank of Iran (CBI) said that about 200 small to medium-sized banks have started correspondence with Iranian banks, helping to revive business with foreign countries.
In August 2017, a $9.4 billion deal was signed by the heads of the Korea Export Import Bank and the Export Development Bank of Iran. The credit access provided is considered an important agreement between the two countries and will be spent on various Iranian projects, both in the government and the private sector.
About 12 Iranian banks acting as agent banks have been chosen to utilize the credit. These banks will help support businesses in various sectors like health, transport and energy. This agreement is an important step in boosting credit access in Iran.
China is Iran’s biggest customer in oil trade and has provided $10 billion to fund water, energy and transport projects, which consist of electrifying a 926 km railroad from Tehran to Mashad. China has also committed another $25 billion, of which $15 billion will be spent on infrastructure and production projects.
In September 2017, Austria’s Oberbank and Denmark’s Danske Bank signed an agreement with Iran. Oberbank had business dealings with Iran long before the sanctions, and they were keen to re-establish a relationship with Iran.
Oberbank will extend its credit line of €1 billion to 14 different Iranian banks, which will help increase business in healthcare, infrastructure and green power. Danske Bank has also signed an agreement for €500 million with 10 different banks in Iran, ensuring no conflict with U.S. and EU-imposed sanctions.
In 2017, CBI cut the interest rate of lending to 18 percent and launched a dedicated finance market known as Iran Fara Bourse, making finance easily available and affordable to small and medium-sized businesses.
The partial removal of sanctions and the investments made by foreign banks will definitely boost the economy, help businesses grow and improve credit access in Iran. This will be of great help to Iranian citizens, both in terms of infrastructure improvements and increased income from businesses.
– Mahua Mitra
Photo: Flickr
An Island’s Biggest Advocate: EU Provides Humanitarian Aid to St. Lucia
The European Union (EU) currently stands as the largest supporter of humanitarian aid to St. Lucia. In 1979, the same year as St. Lucia’s independence, a formal relationship between the two entities was established. The 11th European Development Fund (EDF) National Indicative Programme articulates the programming framework that will facilitate St. Lucia-EU co-operation from 2014 to 2020. The EDF’s involvement with St. Lucia focuses on employment generation via private sector development.
The EU’s Humanitarian Aid Department, ECHO, was present when St. Lucia needed aid most. After Hurricane Tomas in 2010, ECHO responded with emergency and post-emergency aid to assist with restoring the island. In July 2011, the U.S. stepped in and St. Lucia received $17 million from the Climate Investment Fund (CIF) to build it’s natural climate resilience to gain inclusion from the Caribbean Regional Program. Vulnerable, under-developed countries are normally given top priority by the CIF’s Strategic Climate Fund, and this trend has come to include this small island of St. Lucia.
In January 2014 after a Christmas Eve storm, Britain gave St. Lucia 1 million Eastern Caribbean dollars for vital emergency humanitarian aid support to help with mass amounts of fatalities and wreckage. In March, India donated $500,000 of humanitarian aid to St. Lucia to help with the damage left behind from the Christmas Eve rains. These efforts totaled about $100 million dollars — a significant amount of aid for the recovering island nation.
Later that year, St. Lucia was one of the 10 Eastern Caribbean islands to receive a portion of the €80 million in development co-operation aid. In 2016, the main focus of the EU in St. Lucia was the construction of a new hospital, for which they contributed €37 million.
The goal of EU co-operation is to enhance the quality of life of the people in the beneficiary countries through “targeted and sustainable programmes.” St. Lucia is one of the fortunate countries to be a part of the EU agenda and to really benefit from their efforts. Humanitarian aid to St. Lucia may not be given by many, but it’s at least consistent by one.
– Tara Jackson
Photo: Flickr
The Levels of Progress of Women’s Empowerment in Vanuatu
In the beautiful country of Vanuatu, a South Pacific Ocean nation made up of roughly 80 islands, there is a strong fight for women’s empowerment.
Gender Equality Measures
Vanuatu falls under the umbrella of the UN Women’s Fiji Multi-Country Office (MCO) based in Suva, that covers 14 Pacific Island Countries and Territories (PICT). PICTs work with governments and civil society organizations, and the MCO works to progress gender equality and women’s empowerment in the Pacific through the four key programs:
Violence Against Women
No sexual harassment legislation is in place in Vanuatu, and failure to comply with the Convention on the Elimination of all forms of Discrimination Against Women, CEDAW, exists. There is also an unequal minimum age for marriage – 18 years for males and 16 years for females with parental consent.
Violence against women must be addressed in order to bring women’s empowerment in Vanuatu. According to UN Women, 3 in 5 women that have been in a relationship have experienced physical or sexual violence. Women are often treated as property, and they deal with a culture of sexual abuse fostered through adolescence by male family members. Most women are accustomed to these roles and accept that it is normal for men to beat them if they are not obedient.
Economically Empowering Females
In regard to women’s economic empowerment, over half of women who make an income and live with a man earn about the same or more than their husband or partner; however, less than one in five has savings in the bank, and few women own any major assets on their own. In fact, more than 1 in 5 women had their earnings taken away by their husband or partner, who also has the ability to disrupt, or forbid, their female’s work.
The impacts of climate change also directly impact women’s empowerment in Vanuatu. Rising sea levels and changes in air and water temperature affect women’s traditional economic, agricultural and fishing duties. Natural disasters also increase women’s vulnerability to violence and deprivation. Humanitarian intervention is crucial for the improvement of this aspect of women’s empowerment in Vanuatu.
Thankfully, the MCO’s four programs seek to address these issues, and bring significant change to the levels and regions of women’s empowerment in Vanuatu.
– Julia Lee
Photo: Flickr
5 Development Projects in Bhutan Introduced in 2017
Bhutan, officially the Kingdom of Bhutan, is a small country that sits on the Himalayas’ eastern edge in south Asia. The nation is considered one of the world’s least developed countries, and agriculture is at least 80 percent of Bhutan’s economy. Bhutan has made significant strides in development in recent years, and has been able to maintain solid growth and economic stability.
In 2017, The World Bank approved and funded five development projects in Bhutan. These projects are an effort to further the economic growth of the country.
1. Bhutan BLSS Economic Census
BLSS stands for Bhutan Living Standard Survey and was reintroduced in February 2017. It is a household survey that is taken by the National Statistics Bureau. The survey was previously conducted in 2003, 2007 and 2012. After its introduction in February, the survey was again taken in March 2017. The survey provides many critical indicators, such as the national poverty line and National Accounts statistics.
2. Preparation of Strategic Program for Climate Resilience
The Preparation of Strategic Program for Climate Resilience was introduced in February 2017 and will be completed by September 2019. This long-term plan is meant to help Bhutan improve national climate resilience. The project will build on ongoing activities in Bhutan to incorporate climate resilience in development planning. Bhutan then plans to use the project to help create a climate-resilient investment plan for the country.
3. Food Security and Agriculture Productivity Project
The Food Security and Agriculture Productivity Project was introduced in April 2017 and will be completed by December 2022. The project’s goal is to combat Bhutan’s reliance on food imports and to increase local agriculture. Since Bhutan is mainly an agriculture country, this increase will also help lower unemployment and reduce poverty.
4. Bhutan Youth Employment and Rural Entrepreneurship Project
The Bhutan Youth Employment and Rural Entrepreneurship Project was introduced in May 2017 and as of yet, has no closing date. The project’s goal is to increase employment opportunities in Bhutan, specifically for youth; many of the opportunities created are in agriculture. With more job opportunities, the Bhutanese economy will continue to improve as a result of this project.
5. Strengthening Public Financial Management Project
The Strengthening Public Financial Management Project was introduced in September 2017 and will conclude in January 2021. The project’s goal is to help the Bhutanese manage their budget and public funds more efficiently. This will help the development and strengthening of public services and governance.
With the approval of these five development projects in Bhutan, The World Bank has loaned the Royal Government of Bhutan over 15 million U.S. dollars. The World Bank has worked closely with Bhutan since 1998 when Bhutan’s first project was approved.
The goal of these five development projects in Bhutan is to increase employment opportunities, decrease national poverty and strengthen Bhutan’s economy. Though it is still too early to see any significant changes since these five development projects in Bhutan were implemented, these efforts have laid a satisfying groundwork for the Bhutanese to build on.
– Courtney Wallace
Photo: Flickr
Fostering Sustainable Agriculture in Bosnia and Herzegovina
Sustainable agriculture in Bosnia and Herzegovina is of utmost importance since the nation’s independence from Yugoslavia in 1992. Is status as a war-torn region ended after signing a peace treaty in December 1995, which enabled the formation of a complex state with two entities and one state district.
Bosnia and Herzegovina is comprised of hilly mountainous regions as well as fertile low-lands that are suitable for agriculture. It is one of the highest-ranking bio-diverse regions of Europe, as the region is comprised of various animal species and plants. This diversity helps make sustainable agriculture in Bosnia and Herzegovina achievable.
Agriculture is the backbone of the region’s rural sector and functions as an important aspect of the economy of Bosnia and Herzegovina. Agriculture constitutes about 20 percent of the total employment though, according to a study in 2017, post-war conditions and complex socio-economic structure has negatively impacted its development.
Land Resources and Best Practices in Agriculture
Total surface area suitable for cultivation in Bosnia and Herzegovina is about 1.6 million hectares. The land is segregated into three parts:
Bosnia and Herzegovina has seen a trend of sustainable farming since the foundation of Bosnian Environmental Technologies Association (BETA) in 2000. BETA initiated the concept of organic farming in the regional label, and with the support of other international agencies, the association enhanced the promotion of organic agriculture practices among farmers.
As of 2017, Bosnia and Herzegovina has a surface area of 576 hectares devoted to organic farming. This is a lower percentage compared to neighboring countries, but the number steadily increases with the certified organic farming organization of the area; thus, organic farming works helps increase the overall levels of sustainable agriculture in Bosnia and Herzegovina.
The following strategies have been adapted to increase the sustainability of agriculture in Bosnia and Herzegovina:
The Bees and Improving Agricultural Growth
The beekeeping sector of Bosnia and Herzegovina is a component of organic farming that comprises almost 1 percent of the total agricultural production. According to a Bosnia and Herzegovina statistics agency, there are almost 350,000 bee colonies in the country which produce around 2500 – 3000 tons of honey per year.
Various strategies have been adapted post-war to increase sustainable agriculture in Bosnia and Herzegovina. Bosnia and Herzegovina has fertile land and abundance of water bodies, but political tension between its two entities and lack of central governance deeply affects the prospect of agricultural growth of the country.
– Mahua Mitra
Photo: Flickr
The US Top 10 Oldest Presidents to Take Office
The average age of the 45 U.S. presidents throughout history is 54 years and 11 months. Below are the top 10 oldest presidents to take office in United States history.
Gerald Ford – 61 years old
John Adams – 61 years, 4 months old
Andrew Jackson – 61 years,11 months old
Dwight D. Eisenhower – 62 years old
Zachary Taylor – 64 months, 3 months old
George H.W Bush – 64 years, 7 months old
James Buchanan – 65 years old
William H. Harrison – 68 years old
Ronald Reagan – 69 years old
Donald Trump – 70 years old
Youth is often associated with fresh ideas and renewed energy, but these top 10 oldest presidents have brought in their own decisive and controversial ideas. Top 10 source via : top10binary.com binary options trading.
– Jennifer Serrato
Photo: Flickr
The Growth of Sustainable Agriculture in Bangladesh
Agriculture in Bangladesh is under attack as it continues to degrade land and water resources and use harmful agro-chemicals. With continued help from other nations, the Bangladesh government is pursuing sustainable methods for its agriculture to deepen its environmental safety and increase longevity.
Like many nations in the past few decades, recent technological innovations dramatically changed the style of Bangladesh’s agriculture. Mechanization and specialized chemicals pushed the government to enact policies that maximized production. However, with these benefits came negative effects, such as soil depletion, water contamination and neglect of conditions for farm laborers. The goals of sustainable agriculture in Bangladesh are productivity, environmental stability, economic profitability and social and economic equity.
Besides issues arising from agriculture in Bangladesh, climate change poses a serious threat to the country. Founded on a delta, flooding, natural disasters, and saltwater intrusion have caused Bangladesh to lose 1.75 percent of its arable land. To combat food security issues, Bangladesh has begun projects to improve its sustainable agriculture.
The International Finance Corporation is promoting sustainable agriculture in Bangladesh through work with several private and public companies. For example, it works with the four largest private seed companies to demonstrate stress-tolerant seeds and raise awareness of their formal planting. As a result, 67,000 farmers received training for stress-tolerant seeds and 26,000 trained farmers implemented practices related to combatting climate change.
Another new form of sustainable agriculture has won global recognition in Bangladesh. In 2015, the Food and Agriculture Organization designated a farming style in Bangladesh as a “Globally Important Agricultural Heritage Site.” Called the floating gardens, farmers in areas where floodwater lays for prolonged periods created systems in which they grow plants on floating organic beds of algae and other plant residue. By utilizing wetlands, the country’s farmers provide numerous ecological and economic benefits to locals.
However, farmers in poorer areas do not have ready access to sustainable farming principles or resources. That is where the Syngenta Foundation for Sustainable Agriculture comes in. Since 2011, it has been working to improve value for resource-poor farmers in sustainable agriculture and aims to help smaller farmers by creating access to information, quality resources and linking them to profitable markets via its business model called “Farmer’s Hubs.” Through this project, 15,000 small farmers have engaged with 30 Farmer’s Hubs to enjoy increased income at an average of 34 percent.
Through these projects and developments in sustainable agriculture, Bangladesh will continue to grow economically while protecting its environmental resources.
– Nick McGuire
Photo: Flickr
Credit Access in Afghanistan
Islamic Investment and Finance Co-operatives (IIFC)
The IIFC is a group of credit unions that aims to help people in rural areas gain better access to capital. Currently, there are 34 IIFCs in Afghanistan. The group provides loans, thus creating thousands of jobs for Afghans. According to Mahir Momand, founder of the IIFC Group, these loans have created 175,012 jobs, assisting more than 700,000 Afghans.
IIFCs also provide job opportunities in areas where it is difficult for the government to create employment. Momand explains that these credit unions not only help decrease poverty but also give Afghans knowledge on democratic principles. IIFCs enable local people to understand how they can have a say in their economic affairs.
Additionally, IIFCs want to tackle other issues with their programs, such as women’s inequality and youth unemployment. IIFCs have empowered women by making 13 percent of their members include women from Afghanistan. They believe it is important to giving women the opportunity to get involved in economic activities.
In addition to providing loans to youth, the IIFC hired 12 class graduates. This internship initiative improves unemployment among youth.
USAID Agricultural Credit Enhancement Phase-II Project (ACE-II)
Another development has been made to increase credit access in Afghanistan through the help of USAID. This project is specifically for female farmers and women operating agriculture-related businesses in Afghanistan. The project seeks to expand agriculture-related credit to improve agriculture business for women and the agricultural economy.
Unfortunately, many women do not understand the benefits of using credit to expand their business. Therefore, the United States Agency for International Development (USAID) has created the Agricultural Credit Enhancement Phase-II project to create women’s awareness about agricultural credit that could help their businesses.
In November 2017, USAID assembled three events called Women’s Agriculture Credit Shuras in Herat to gather women and raise awareness for the cause. They were one-day events, and they had microfinance institutions from Afghanistan participate along with financial experts to share their economic knowledge with women who came.
The event also provided practical training for women on how to apply for credits and how to properly manage them. Additionally, the event made women aware of their economic rights and the types of credits available to them.
This project aims to increase the growth of Afghanistan’s agricultural sector. Allowing women the opportunity to learn more about credit access in Afghanistan will ensure continued growth for the agricultural sector as well as allow women to increase their business prospects and better their lives in the process.
– McCall Robison
Photo: Flickr
Groups Working Towards Women’s Empowerment in Suriname
Suriname has enacted laws to dismantle inequality. Mostly created during the 21st century, an example is the Penal Code, which, once amended in 2009, penalized rape within marriage. The Law on Combatting Domestic Violence was passed in 2009. It punishes all forms of violence, and has, along with increased awareness, cut instances of domestic violence from 1,769 in 2009 to 1,213 in 2010.
This increased awareness continued in 2015 when Iceland convened with Suriname in January to discuss violence against women. In 2013, the two countries were ranked almost exactly opposite in women’s rights, with Iceland first and Suriname 110th in the world. The conference was the first time the United Nations brought together male leaders of nations to specifically discuss gender equality.
Another program for women’s empowerment in Suriname was an exchange between the South Dakota National Guard and the Suriname Defense Force. In March 2017, there was a three-day conference about Women in Leadership. Four women from Suriname went to South Dakota to learn about support services and the opportunities in which women can serve. By the end of the conference, the women were able to work with foreign partners and share their experiences to gain an understanding of each other’s cultures.
Elsewhere, there is the Ilse Henar Foundation for Women’s Rights in Paramaribo, Suriname. As women tend to have a disadvantageous position in Suriname society, the foundation seeks to eliminate these inequalities. For example, in 2006 they started a project called “Elimination of Sexual Harassment at the Workplace in Suriname.” The NGO helped draft legislation specifically regarding this topic, and it organized vulnerable women’s groups for domestic workers and migrant women workers.
Several agencies and countries are taking a stand for women’s empowerment in Suriname. By addressing gender inequality, it will enable women to improve their social standing while benefiting society as a whole.
– Nick McGuire
Photo: Flickr
Increased Credit Access in Iran Boosting Infrastructure Growth
Due to this, the country has had limited access to the outside world, including its financial and banking sector, which has affected credit access in Iran. In January 2016, most of the sanctions were lifted after Iran met the obligations of the nuclear deal signed in April 2015. The prolonged sanctions and recession have affected small-scale domestic businesses, as they could not secure funding from banks and financial institutions due to high-interest rates.
With the lifting of the sanctions, various government organizations and international banks are eager to sign agreements with the country. China, South Korea, Austria and Denmark are among the notable countries that are taking steps to facilitate financial transactions with Iran.
Iran is building relationships with small foreign banks that are not hindered by the restrictions imposed on the country. The Central Bank of Iran (CBI) said that about 200 small to medium-sized banks have started correspondence with Iranian banks, helping to revive business with foreign countries.
In August 2017, a $9.4 billion deal was signed by the heads of the Korea Export Import Bank and the Export Development Bank of Iran. The credit access provided is considered an important agreement between the two countries and will be spent on various Iranian projects, both in the government and the private sector.
About 12 Iranian banks acting as agent banks have been chosen to utilize the credit. These banks will help support businesses in various sectors like health, transport and energy. This agreement is an important step in boosting credit access in Iran.
China is Iran’s biggest customer in oil trade and has provided $10 billion to fund water, energy and transport projects, which consist of electrifying a 926 km railroad from Tehran to Mashad. China has also committed another $25 billion, of which $15 billion will be spent on infrastructure and production projects.
In September 2017, Austria’s Oberbank and Denmark’s Danske Bank signed an agreement with Iran. Oberbank had business dealings with Iran long before the sanctions, and they were keen to re-establish a relationship with Iran.
Oberbank will extend its credit line of €1 billion to 14 different Iranian banks, which will help increase business in healthcare, infrastructure and green power. Danske Bank has also signed an agreement for €500 million with 10 different banks in Iran, ensuring no conflict with U.S. and EU-imposed sanctions.
In 2017, CBI cut the interest rate of lending to 18 percent and launched a dedicated finance market known as Iran Fara Bourse, making finance easily available and affordable to small and medium-sized businesses.
The partial removal of sanctions and the investments made by foreign banks will definitely boost the economy, help businesses grow and improve credit access in Iran. This will be of great help to Iranian citizens, both in terms of infrastructure improvements and increased income from businesses.
– Mahua Mitra
Photo: Flickr
The Success of Sustainable Agriculture in Swaziland
In response to this problem, the Food and Agriculture Organization of the United Nations (FAO) and the European Union (EU) started working to broaden sustainable agriculture in Swaziland. Because the majority of the Swazi people rely on subsistence farming for their food, the FAO and the EU banded together to introduce small agricultural practices that will build up over time and created the Swaziland Agricultural Development Project.
Communities throughout Swaziland have had communal and individual gardens constructed for growing food, most of which went directly to the households who planted them. Similar communal fishing areas and poultry farms were also constructed, and communities were educated on how to successfully grow food.
The high burden of HIV and AIDS in the country also prompted the FAO to address food insecurity among people living with chronic illnesses and improve access to community resources.
On a larger scale, local farmers were educated on conservation farming in order to prolong the life of crops and the land. In order to make up for the drought throughout the country, the SADP also involved creating better access to water for farming by constructing and restoring dams and boreholes.
Swaziland is in a rough spot, with over a third of the population struggling with HIV and AIDS as well as chronic malnourishment. However, these practices and the further development of sustainable agriculture in Swaziland not only have the potential to lower starvation rates, but also to take some of the financial burden off the shoulders of people struggling to provide for their families.
Photo: Flickr