Development Partners COVID-19 Socio-Economic Response and Recovery Group meet to discuss way forward
The long term social and economic impact of this crisis will be profound. Therefore it is critical to create synergies and foster collaboration to support GRN.
The COVID-19 Development Partners (DPs) Socio-Economic Recovery and Response Group met virtually to discuss aligned support to the Government of Namibia's response plan.
The International Monetary Fund expects a global recession more severe than the 2008 global financial crisis, with two-thirds of the economic dislocation from losses of business and consumer confidence and tightened financial markets rather than the pandemic itself.
The Development Partners present discussed the sub-groups' composition and objectives and updated one another on their various COVID-19 related interventions through presentations and dialogue. Areas for collaboration and the way forward was finalised through defined terms of reference, coordinating structure, and participation.
The Group will provide a platform to promote innovation through evidence-based, sustainable, and cost-effective interventions for socio-economic recovery in Namibia. Furthermore, it will be a vital space for information sharing and technical discussions in order to create maximum impact of interventions.The working group agreed to utilise the convening power of the UN System to bring the private sector, local financial institutions, and the African Development Bank together for information sharing on financial facilities available.
"The meeting was very successful, we have engaged on sharing studies, assessments, reports and research and will be engaging with more national actors in various economic sectors to maximize impact of interventions," said Errolice Tjipura, Partnerships and Development Finance Officer for the UN Resident Coordinator's Office in Namibia.
The Socio-Economic Response and Recovery Group is co-chaired by UN Namibia and the National Planning Commission (NPC).