Irene McMaster’s Post

Linked to Cohesion policy reform debates, performance budgeting and the experience under the Recovery and Resilience Facility have gained increased attention. What would this approach mean for Interreg programmes in the future? For programmes under pressure to demonstrate efficiency, added value and impact, a strong focus on results and delivery is vital. However, it is essential to remember the distinctive characteristics of Interreg programs. From intangible benefits to complex, long-term challenges, measuring progress and results isn't always straightforward. Irene McMaster's latest blog discusses performance-based approaches and what they could mean for Interreg.

https://lnkd.in/ebR3ZNZt A good example on how Integrated National Financing Frameworks (#INFFs) can help bridge the Development Finance gap: the case of a Small Island Developing State (#SIDS) - #Seychelles.

🌍 Navigating the 2024 #MTBPS from fiscal challenges to solutions, we break down key risks and explore how collaboration across government, businesses, and civil society can lead us toward sustainable growth. Let's build resilience together! #MERITAfrica #EconomicGrowth #SouthAfrica https://lnkd.in/epzP86Z6

EU to provide €517 million of funding for Ukraine through EBRD programmes Agreements signed at Ukraine Recovery Conference in Berlin This EU funding supports new EBRD projects with Ukrainian cities for €143 million    The EU funding will in turn support a further €143 million of new EBRD projects with Ukrainian cities, and the rest of the funding will be deployed swiftly in several critical areas.   The EBRD and EU have stood resolutely by Ukraine in wartime, significantly boosting financial support in key areas to help people and businesses facing the most adverse situations. Under the agreements signed today, the European Union will provide additional support for four EBRD programmes. The EU will provide a financial guarantee of €140 million for the EBRD’s Financial Inclusion Recovery Programme. It will also offer blending grants of €30 million and technical assistance of €7 million for the SME Competitiveness and Inclusion Programme in Ukraine. Both will boost much-needed access to finance for small and medium-sized enterprises in the wartime environment.     A further €150 million financial guarantee and €7.5 million of technical assistance go to the Hi-Bar guarantee programme, which supports both new and existing climate mitigation technologies, in particular in the energy sector.  The EU will also make available a financial guarantee of €150 million, along with blending grants of €25 million and technical assistance of €7.5 million, for the EBRD’s Municipal, Infrastructure and Industrial Resilience Programme, which addresses the needs for emergency support and future reconstruction efforts across various sectors, including industry, transport and municipal infrastructure. This additional EU funding is expected to be rapidly deployed, and the URC has already seen the signing of several EBRD agreements with Ukrainian beneficiaries. Ukraine is preparing to start EU accession negotiations, with a detailed blueprint of reforms needed to progress the negotiations set out in the EU’s Ukraine Plan. The European Union’s financial guarantees are provided under the Ukraine Investment Framework.  https://lnkd.in/dn-7gGSj Thank you! @Valdis Dombrovskis, Arvid Tuerkner, Grzegorz Zielinski, Olga Yeriomina and all involved!

🌍 Navigating the 2024 #MTBPS from fiscal challenges to solutions, we break down key risks and explore how collaboration across government, businesses, and civil society can lead us toward sustainable growth. Let's build resilience together! #MERITAfrica #EconomicGrowth #SouthAfrica https://lnkd.in/ent7HvCd

Discussions about how Interreg rules and procedures might look in the next programme period have begun. One of the topics at the top of that discussion list is performance-based payments, an approach that is being used by the Recovery and Resilience Fund (RRF). Here is an interesting article on the potential issues with such an approach by Irene McMaster at University of Strathclyde. Short and well written argumentation. If you're following post-2027 Interreg developments, have a look!

After much anticipation, on February 22, 2024, British Columbia announced its intention to create a First Nations Equity Financing Framework (Framework) as part of its latest budget and fiscal plan. The Framework aligns with its commitment to “co-develop with First Nations a new fiscal relationship that supports the self-determination and operation of First Nations governments” and to implement the United Nations Declaration on the Rights of Indigenous Peoples. https://bityl.co/Odrc

I was delighted to listen in on The Future Governance Forum (FGF)'s launch of their new report on Infrastructure Investment Partnerships (IIPs) yesterday. I haven't yet read the report in detail but knowing the excellence and attention to detail of its author, Matt Bevington, I am confident it will make serious reading for government policymakers trying to encourage new ways for the UK to solve its myriad physical and social infrastructure challenges. The problem with trying to create such partnerships is that they require either a high degree of standardisation or a high degree of trust and understanding. The former is politically impossible in the UK context: hospitals, schools, roads and many other public buildings and assets tend to be built in unique situations, facing wildly different public attitudes - and that's before you get into the technicalities of planning. The latter is more plausible - but only if investors and government find new ways to talk to each other. As UCL speaker Eleanor Woodhouse indicated, there's often initial excitement around new projects and contracts that dissipates over time. Well-publicised problems with the Private Finance Initiative (PFI), with 154 such contracts due to expire over this Parliament, give us an idea of the pitfalls. Labour's first two months in power have amply demonstrated the mountainous task they have ahead of them: both 'fixing the foundations' *and* pinning blame on the previous government requires them to face in two rhetorical directions at once. So far, doom and gloom has well and truly won out - and that's not going to stop any time before the Budget on October 30th. It's probably going to be up to investors and the wider private sector to give them something more positive to talk about. To read the FGF's report, click the link in the comments.

Ethiopia delivered its National Statement at the first Preparatory Session of the 4th International Conference on Financing for Development July 22, 2024 - Addis Ababa - Ethiopia delivered its national statement on the first Session of the Preparatory Committee for the 4th International Conference on Financing for Development (FfD) which has been held at Skylight Hotel. H.E. Ato Ahmed Shide, the Minister of Finance of the Federal Democratic Republic of Ethiopia, articulated the Ethiopian stance and initiatives regarding the financing of the Sustainable Development Goals (SDGs). Minister Ahmed Shide emphasized that the path following the adoption of Agenda 2030 has been fraught with challenges for many countries, including Ethiopia, due to various global issues. In this context, the Minister underscored the importance of the upcoming 4th International Conference on Financing for Development in Spain next year. He highlighted that it would serve as a crucial platform for renewing global commitments to achieving the SDGs through innovative development financing strategies. He also stressed Ethiopia's ongoing commitment to solidarity with other African nations and the international community. He highlighted the importance of fostering dialogue and partnerships to enhance the mobilization of both national and international resources. Additionally, he pointed out the need to strengthen the role of the private sector and to adopt innovative financing mechanisms, such as climate finance and blended financing, among others, to support sustainable development. Addressing the debt burden through a permanent mechanism, broadening the tax base, enhancing tax collection and administration, and improving public financial management were also highlighted as key actions where Ethiopia is focusing its efforts to make progress on the SDGs. Furthermore, international cooperation to combat illegal financial flows was also mentioned as an important action to undertake. Looking ahead, Minister Ahmed Shide emphasized that the forthcoming FfD4 conference will be a critical opportunity to revitalize the SDGs and mitigate the impacts of climate change. Ethiopia's commendable actions in addressing climate change and its steadfast ongoing efforts such as Green Legacy have been highlighted. Finally, he urged the international community to take immediate and coordinated actions to tackle the challenges impeding the implementation of the SDGs.

The Ethiopian movements on climate action, debt management, and solidarity with other African and global nations are creditable. However, high considerations of private engagement, innovative finance, inclusive insurance, resolving the global financial architecture issue, PFM improvement (particularly the “D” grade of the PEFA assessment results), and integrated national financing frameworks (INFFs) are critical to ensuring SDG achievements and sustainability.