Official Development Assistance (ODA) is evolving to meet the changing needs of recipient member countries, integrate technology advances and address immediate challenges such the COVID-19 global pandemic.
More ODA is channelled through major agencies such as the Asian Development Bank (ADB) and the World Bank who are recognising the importance of private sector as a source of expertise and solutions, as well as co-financing.
International aid-funded projects continue to present significant opportunities for Australian organisations thanks to our geographic proximity, proven track record, knowledge and understanding of regional needs, and expertise in relevant sectors. These projects not only provide an alternate channel to developing markets with the preferred governance and transparency but they can also act as a multiplier effect opening avenues to secure other development projects funded by the UN, bilateral aid agencies and non-government organisations (NGOs). Opportunities exist across the project lifecycle. Australian firms won over A$1.67 billion worth of ADB contracts since 1966, for example.
Austrade invites you to join exclusive International Development webinars with the Development Finance International, Inc. (DFI) on 30 June and 1 July 2020.
DFI is an international business development advisory firm assisting the private sector in navigating the operational, policy, and procurement complexities of IFIs and devising sales and market entry strategies, risk mitigation and sustainable supply chains. Founded 28 years ago, DFI has delivered more than US$3 Billion in contracts and funding across diverse sectors.
Session 1: Leveraging on IFI opportunities
Tuesday 30 June: 11:00am - 12:00pm
Leveraging the programs, funds and convening power of International Financing Institutions (IFIs) to maximise Australian companies' presence in emerging markets.
This session will focus on some of the major IFIs in Asia Pacific - ADB, World Bank, Asian Infrastructure Investment Bank (AIIB), United States Agency for International Development (USAID) and Japan International Cooperation Agency (JICA). It will provide an outline of IFIs geographic and sectoral priorities and associated programs and opportunities.
Session 2: IFIs COVID-19 response packages
Wednesday 1 July: 11:00am - 12:00pm
Insights into the COVID-19 response packages of the Asian Development Bank, World Bank, and other donors in Asia Pacific.
The global economy could suffer between US$5.8 trillion and $8.8 trillion in losses equivalent to 6.4% to 9.7% of global gross domestic product (GDP) due to the COVID-19 global pandemic .Since the initial outbreak, IFIs have reprioritised and topped up their aid funding to affected developing countries to support their efforts in addressing the extensive impact of the pandemic on local communities and economies. Whilst healthcare and social protection have been the immediate priority, broader programs are looking to support governments, academia and industry through finance, knowledge, and partnerships. Over US$22 billion has been allocated to the Asia Pacific region by key IFIs.
This session will outline the various programs IFIs are deploying in the Asia Pacific region, the streamlined procurement processes and ways in which Australian organisations can offer their relevant expertise, products and solutions.