ࡱ> ?A>g X bjbjVV 8(r<r<X` ` ` ` ` t t t t  t y, !! !+++++++$%.0r,` !!!!!,` ` 3,"""!` ` +"!+""Vd*+ MzrG"FD+ +I,0y,P+TI1" I1+I1` +@!!"!!!!!,,"!!!y,!!!!I1!!!!!!!!! &: Third Global Review of Aid for Trade - Day 1 Summary of Discussions Session 2: Aid for Trade: Consolidating Recovery, Stimulating Growth The World Bank President addressed the role of AfT in boosting growth and investments and in supporting poverty reduction initiatives. Concrete examples of the Bank's AfT projects were provided as supporting arguments for the impact AfT was having on the ground. The importance of investing in both the hard and software of trade, addressing behind the border policies and NTBs, working with RECs to strengthen regional integration and providing facilities for effective access to trade finance were some of the key issues touched upon. More attention to services and domestic regulation was emphasized. The importance of impact evaluation and the efforts the Bank was undertaking to take this forward, along with expanding access to trade-related data, was also highlighted. One key element was the potential impact China's shift up the value chain could have on Africa if some of its manufacturing activity and employment were to be shifted to Africa. AfT would have a role in helping alleviate the infrastructure, energy and customs related hurdles which may hamper this shift. The latter part of his intervention focused on the Doha Development Agenda (DDA) and the need for negotiators, of both developed and emerging economies, to be more strategic and less defensive in their negotiating positions. Downplaying the likely economic impact of a Doha deal, he urged ϲʹ members to "think big" in order to conclude a broad deal, or risk the marginalisation of the multilateral trading system. The UNDP Administrator supported the need to commit to the DDA. She stressed the importance of the AfT agenda and said that AfT was central to the development strategies of developing countries as a means to strengthen competitiveness, advance regional integration and increase exports. The central issue was how best to harness it as a vehicle for sustaining development. Effective mainstreaming was one crucial element in facilitating this. Mainstreaming is happening but more needs to happen to translate it into operational action plans if the benefits of trade are to reach more people. On the issue of impacts, it was noted that although causality is difficult to prove, the impact of capacity building projects do take time to manifest. The President of the African Development Bank (AfDB) presented the key elements of the Bank's AfT related work including the US$ 10 billion commitment to 150 AfT related projects over the past three years. The Bank's growing role in trade finance and providing counter cyclical funds post-economic crisis was emphasized. The importance of sustainable, resilient and inclusive economic growth was seen as key especially in light of the recent challenges in North Africa. Key areas which require further attention moving forward include investment in the energy sector, support for RECS and attracting private sector investment and partnership. The President of the Asian Development Bank presented some of the major findings from the Regional Technical Group report including the role of trade in underpinning growth in the region and the role of AfT in sustaining this growth. The importance of bridging the development gap in the region was emphasized as was the need to move to harnessing greater regional and intra-regional demand. The Bank's trade finance programme was referenced as was the cross-regional sharing of information that was happening in this area with the AfDB. The European Bank for Reconstruction and Development spoke of its work on delivering trade finance, supporting trade-related infrastructure and providing advisory services to SMEs. The importance of transferring skills and knowledge was seen as critical to sustain the impacts of AfT. Financing plus technical assistance was seen as an important element in moving forward. The President of the Inter-American Development Bank presented evidence on the role of trade-related technical assistance and capacity building in supporting economic development and poverty reduction in the Latin American and Caribbean (LAC) region. The Bank's trade finance initiatives, the role of regional integration and the Bank's increasing commitment to support regional integration strategies was highlighted. AfT was positioned as a long-term growth instrument especially as studies show that the LAC region is only reaching 50% of its potential productivity. Fundamental reasons for this are low levels of investment in public infrastructure, a slowdown in private sector investment and high logistics costs. Important to use AfT as a tool to address these obstacles and the Bank intends to do this through its capital increase, emphasis on regional integration, and increased synergies with the private sector such as the on-going initiatives with the ICC. Announced intention to formally engage with Walmart and the US Chamber of Commerce to focus on women and economic development. The CEO of the International Islamic Trade Finance Corporation of the Islamic Development Bank focused on the main targets set by the Bank to respond to the mandate of increasing trade among members of the Organization of the Islamic Conference. To achieve this, the ITFC is scaling up its trade finance programmes, its Trade Capacity Building programmes and its assistance on infrastructure projects. ITFC provided US$ 9.2 billion in trade finance in 2010, US$ 4 billion in road projects and US$ 1.1 bilion in transport system projects in Sub-Sahara Africa. Referred to the on-going discussions on AfT in the SPECA region as well as the recent initiative to develop an AfT roadmap for Arab States. Interventions from the floor spoke of the need to ensure disbursements increased in line with the growing funding commitments, and the need to review eligibility criteria for accessing AfT. The importance of taking into account the priorities of middle-income small and vulnerable economies (SVEs) in light of the World Bank's graduation criteria was highlighted, especially with regards to addressing competitiveness issues, soft infrastructure, mainstreaming, and access to finance. 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