Michael D'Arcy (Wexford, Fine Gael) | Oireachtas source

I will make sure to conclude by then because I want to move on to the next Stage. A huge number of questions have been asked by all who contributed. I do not have the answers to all the questions so I will not pretend. We can try to get into more detail on Committee Stage.

In the context of our international development policy with regard to extending our influence in the African region in line with the objectives of the 2025 initiative, we feel this is the best way of doing it. Deputies noted the important work of African Development Bank in terms of contributing to the economic and social development of the African region and its important role in continuing to drive its economic transformation for the future. Like other development banks, it has a role which is to provide funding for ethical projects. It was very similar to the conversation we had about the AIIB. The objective here is not that Ireland will invest in an institution that will just operate as it sees fit. There are governance structures in place and I will touch upon them.

The fund will require the approval of our membership by the board of directors and subsequently by the board of governors. It is expected it will take place at the next annual meeting in June 2019 in Malabo. That will complete our membership.

With regard to the bank's safeguards and standards and the question about how Ireland can influence these, this section encompasses most of the questions that have been asked. African Development Bank's integrated safeguard system adopted in 2013 is the cornerstone of its strategy to promote growth that is socially inclusive and environmentally sustainable. As I have already mentioned, safeguarding standards are already in place in which MOPAN found that African Development Bank is particularly strong. It is highlighted by the assessment that facilitates the delivery of high social and environmental standards including through the screening of all projects at the bank against gender, environment and climate change criteria.

Specifically with regard to gender, 2017 saw the gender, women and civil society department become fully operational and the approval of the gender marker system, the bank's approach to mainstreaming gender in its operational work, with the roll out taking place this year.

On climate change, African Development Bank has pledged triple climate financing to reach 40% of investments by 2020. In 2017, African Development Bank made strides on these targets with about 28% of all approvals allocated as climate finance.

In terms of how Ireland can input into this area, as in the case of the other multilateral development banks, Ireland will seek to use its influence in co-ordination with our members and constituency partners to ensure the high performance and standards of African Development Bank is maintained or improved where necessary as the bank evolves.

A question has been asked about Ireland. Is Ireland progressing in meeting the UN target of 0.7% of GNP on ODA? The programme for Government sets out our ambition to make progress on this target as resources allow. This commitment reaffirms our global initiative 2025, which was published this year. Based on current forecasts we anticipate the percentage of ODA for 2017 having reached 0.3% of GNP. However, recent revisions of GNP have reduced this percentage despite increases in overall funding for ODA in recent years. The Government's ambition is to meet the 0.7% target through sustained managed increments. ODA will be required. Ireland will continue to work towards this target as economic circumstances allow but our contributions to African Development Bank and fund will also develop and contribute towards that.

I look forward to a more detailed discussion on Committee Stage.

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