TDB Group is pleased to announce that it has obtained the Green Climate Fund (GCF) accreditation as an African regional direct access entity which will enable the Group to partner with the GCF in the implementation of climate action projects in all its Member States.
TDB Group was accredited in the large size category, which qualifies it to execute projects exceeding USD 250 million, as well as those valued below this amount. Likewise, the type of accreditation received will also enable the Bank to implement GCF-funded projects across all levels of Environmental & Social Safeguards (ESS), ranging from the lowest to the highest ESS risk categories.
The accreditation reflects the Bank’s track record and commitment to upholding rigorous and specialised fiduciary standards, environmental and social safeguards, and gender policy. Special attention was paid to TDB Group’s capabilities in project management, funding allocation mechanisms, award of grants, on-lending and the blending of various financial instruments such as loans and guarantees, among others.
TDB Group is a development finance institution; as such sustainability is at the core of all its operations. Supported by its ESG framework, the Group is firmly committed to the global development agenda as guided by the Sustainable Development Goals, the African Union’s Agenda 2063, and the Paris Agreement on Climate.
The concept of practical wisdom is not new; it has been debated since ancient times. The ancient Greeks called it phronesis. The Romans translated it to “prudentia”. We know it as practical wisdom – the ability to discern the right course of action in complex situations, to make sound judgments, and to navigate the uncertainties of life with prudence and foresight. It’s not merely intelligence or technical skill, but a deeper, more nuanced understanding of human affairs and the capacity to act accordingly.
In simpler times, practical wisdom was often honed through direct experience and passed down through generations in the form of proverbs, stories, and traditions. But in our modern age, something has shifted. We’re surrounded by experts, inundated with data, and yet, true practical wisdom seems to be in short supply.
One of the key culprits is the very thing we believe should be making us wiser: information. We live in an age of unprecedented access to knowledge. Yet, as the image aptly illustrates, the mere accumulation of information doesn’t necessarily translate into wisdom. In fact, it can have the opposite effect.
The chart shows two paths: the “Sine Wave of Wisdom Progression” and the “Non-Learner (Constant Wisdom).” The sine wave depicts someone actively seeking knowledge. Initially, as they gather information (moving along the x-axis), their wisdom (y-axis) actually dips. This is because raw data, without reflection and context, is just noise. It’s only after contemplation and experience that wisdom begins to rise again.
The non-learner, represented by a flat line, maintains a relatively constant level of wisdom. While seemingly less desirable, this path highlights a crucial point: without actively engaging with knowledge through reflection and application, there is no growth in practical wisdom.
The sheer volume of information we face today creates a challenge never before encountered. We’re constantly bombarded with news, opinions, and “facts,” making it difficult to discern what’s truly relevant and meaningful. This overload can lead to a state of “information fatigue,” where we become passive consumers of data, rather than active thinkers. As the chart suggests, without reflection, we risk becoming less wise, even as we become more informed.
Practical wisdom requires more than just data; it demands critical thinking, empathy, and the ability to connect with our own values and experiences. It requires us to ask not just “what do I know?” but “how does this apply to my life and the world around me?”
Detailed Reasoning
The need for practical wisdom in today’s world stems from the overwhelming volume of information we now encounter daily. With the rise of social media, online news, and instant access to data, we have more knowledge at our fingertips than ever before. Yet, this very abundance can be a double-edged sword. On the one hand, access to information is empowering, providing us with the tools to make informed decisions. On the other hand, it has led to a form of “information overload,” where we are constantly bombarded with facts, opinions, and narratives that are not always clear, accurate, or meaningful.
This overload can create a number of problems. For one, it makes it harder for individuals to distinguish between useful knowledge and mere noise. In a world where every opinion can be amplified and every fact questioned, it becomes increasingly difficult to make sound judgments. This is where practical wisdom comes in: it is not enough to know a lot; we need the ability to discern what is truly important, to critically assess the validity of the information we encounter, and to use that knowledge in ways that serve both our individual well-being and the collective good.
Moreover, the sheer volume of information can lead to cognitive fatigue. This condition arises when we are required to process too much data without time for proper reflection. As a result, we may make impulsive decisions, fail to see the long-term implications of our actions, or become passive consumers of information rather than active thinkers. Practical wisdom requires time and space for reflection—a process that allows us to step back from the constant flow of data and consider its relevance, consequences, and alignment with our values. Without this ability to reflect, we risk losing touch with the very purpose of acquiring knowledge in the first place: to improve our lives and the lives of those around us.
In the context of Ethiopia, where traditional values and community wisdom have long played a crucial role in shaping society, the challenge becomes even more pronounced. As we modernize and embrace new technologies, we must not lose sight of the importance of reflection and application of knowledge in a manner that respects our cultural heritage and moral values. Just as the elders have long guided younger generations with their insights, we must find ways to integrate the new information age with the timeless wisdom that has served us well for centuries.
Finally, practical wisdom is essential for navigating the complex ethical dilemmas we face in the modern world. With rapid technological advancements, societal shifts, and global challenges, we are constantly confronted with decisions that have far-reaching implications. From environmental issues to social justice and human rights, the stakes have never been higher. In these situations, data alone is not enough. We need wisdom to guide us, to help us navigate these complexities with a sense of responsibility and foresight. It’s about making decisions not just for immediate gain, but for the long-term well-being of our society, our environment, and future generations.
Conclusion
The reason why practical wisdom is indispensable in the Information Age is because it enables us to navigate the overwhelming flood of information in a thoughtful, meaningful, and ethical way. It allows us to not just accumulate knowledge, but to use it with discernment, reflection, and a sense of responsibility. In Ethiopia, as in the rest of the world, embracing this wisdom is crucial not just for personal growth, but for the collective well-being of our communities and our nation.
You can reach the writer via gabrielmulugeta1@gmail.com
Browsing social media I have recently come across a map showing all the countries with GDP per capita higher than Poland’s back in 1990 and in 2018. The difference was striking. While 35 years ago there were quite a few such countries not only in Europe but also in South America, Asia and Africa, in time their number has significantly decreased. In 2018 there were no longer any South American or African states highlighted on the map.
By 2025, the group has shrunk even further. According to IMF’s data Poland’s GDP in 1990 was a mere $6,690 in current dollars. By 2024 it grew almost 8-fold to $51,630. All that in just three decades – one generation. And it goes on. According to the European Commission’s forecast, in the years 2024-2025 Polish economy will be the fastest growing large economy in the European Union.
How did it happen? Apart from the hard work of our citizens, two major factors – or, to be more precise, two institutions – contributed to the economic success: NATO and the European Union.
The first, which Poland joined in 1999, provided security guarantees and helped overcome decades-old division between Eastern and Western Europe. The second, which we joined five years later, took the process of easing long-standing disparities one step further. It granted new member states access to so-called “cohesion funds” but most importantly to the common European market.
Sources of success
After the fall of communism in Poland in 1989 and the return of messy democratic politics, despite all day-to-day political squabbles one thing remained constant no matter who was in power – Poland’s determination to join the two aforementioned organizations. Why?
We are a great nation but a medium-size country. We cherish our long history – this year marks a millennium since the coronation of our first king – but our population is much smaller than that of merely Beijing and Shanghai combined. Poland needs allies to boost its potential on the international stage.
What’s been true for Poland – in 1990 a poor country coming out of four decades of Russian domination and economic mismanagement – might well be true for many of the so-called „middle powers” in Asia, Africa and South America looking for room to grow.
These countries often need what Poland desperately needed 35 years ago and still profits from: good governance, foreign investments with no strings attached, but above all political stability, rule of law, and predictable international environment with neighbors eager not to wage wars but work together for mutual benefit. In fact, these factors can benefit every country, no matter the level of their GDP.
Today the international order is being challenged on multiple fronts. Sometimes for good reasons. Decades-old institutions – including the UN and its Security Council – are unrepresentative of the global community and incapable of dealing with the challenges we face. What they need, however is to be thoroughly reformed, not entirely rejected.
Imperialists illusions
To those desperate for change force might look appealing. It would be a mistake. Abandoning forums for international dialogue and resorting to violence will not get us far.
Take Russia’s unprovoked aggression against Ukraine. According to Kremlin’s propaganda it is a justified reaction to western imperialism allegedly threatening Russia’s security. In fact, it is a modern-day colonial war against Ukrainian people who – just like us Poles 30 years ago – want a better life and realize they can never achieve this goal by going back to subjugation to Russia. That is what they are being punished for – an effort to free themselves from the control of a former metropolis. Kremlin aggression is a desperate struggle of a failing empire to restore its sphere of influence.
Russian victory – may it never come – would not create a more just global order. It wouldn’t benefit countries dissatisfied with where things stand now. It wouldn’t even bring about a more just and prosperous Russia. Suffice to say there are now more political prisoners in Russia than there were in the 1980’s when the Soviet Union invaded Afghanistan. There are many more casualties as well.
War is hardly ever a shortcut to prosperity. Over the last millennium Poland experienced its share of invasions and uprisings against occupying forces. What finally brought us prosperity were three decades of peace, predictability, international cooperation and political stability.
That is why on assuming the presidency of the Council of the European Council Poland made its priority clear – security in its many dimensions, from military, through economic to digital. Europe safe, prosperous and open for business can benefit not only Europeans but a greater global community. Just as it benefited Poland over the last three decades.
It may sound dull but it worked. Just look at the numbers.
The economic relationship between the United States and Europe has been a cornerstone of global trade and financial stability. However, under the leadership of President Donald Trump, this relationship has experienced significant shifts due to policy changes, trade disputes, and diplomatic tensions. Trump’s economic policies, often referred to as “Trumponomics,” have emphasized protectionism, deregulation, and tax cuts, leading to both opportunities and challenges for European economies. This article explores the key aspects of the U.S.-Europe economic relationship under Trump, including trade policies, tariffs, and their broader implications for global markets.
One of the defining characteristics of Trump’s economic approach has been his emphasis on “America First” policies, which prioritize domestic industries and reduce reliance on foreign goods. This stance led to increased tariffs on European exports, most notably in the automobile and agricultural sectors. In response, the European Union (EU) imposed retaliatory tariffs on American products, escalating tensions between the two economic powerhouses.
Trump’s administration justified these tariffs by citing unfair trade practices and the need to address the U.S. trade deficit with Europe. The tariffs imposed on European steel and aluminum, for instance, were framed as national security measures under Section 232 of the Trade Expansion Act. European leaders, however, viewed these measures as economically damaging and politically motivated, leading to negotiations aimed at reducing trade barriers while maintaining fair competition.
The imposition of tariffs and uncertainty surrounding trade agreements have had significant repercussions for European economies. The automotive industry, a vital sector for Germany and other EU countries, faced potential losses due to increased tariffs on exports to the U.S. Major car manufacturers, including BMW, Volkswagen, and Mercedes-Benz, expressed concerns over declining revenues and potential job losses.
Additionally, the agricultural sector was affected as European producers faced restricted access to the U.S. market. The EU responded by seeking alternative markets and reinforcing trade agreements with other global partners, including China and Canada. This diversification helped mitigate some economic damages but did not fully compensate for the disruptions caused by strained U.S.-Europe trade relations.
Beyond trade disputes, Trump’s foreign policy decisions have also influenced economic relations with Europe. His administration’s withdrawal from the Paris Agreement on climate change and threats to reduce NATO funding strained diplomatic ties with EU leaders. Economic cooperation, particularly in areas like energy and defense, became increasingly complex as Europe sought greater autonomy in global affairs.
Despite these challenges, economic interdependence between the U.S. and Europe remained strong. The EU continued to be one of the largest foreign investors in the U.S., and vice versa. However, businesses on both sides of the Atlantic had to navigate an unpredictable policy environment, leading to cautious investment strategies and delayed expansion plans.
The economic shifts under Trump had ripple effects on global markets. Financial instability due to trade conflicts led to fluctuations in currency values, with the Euro experiencing periods of volatility against the U.S. dollar. Stock markets reacted to trade negotiations and policy announcements, affecting investor confidence worldwide.
Furthermore, Trump’s emphasis on bilateral trade deals rather than multilateral agreements weakened institutions such as the World Trade Organization (WTO). This shift raised concerns about the future of global trade governance and the potential for prolonged economic uncertainty.
To conclude, the economic relationship between the United States and Europe under Trump was marked by heightened trade tensions, tariff disputes, and diplomatic challenges. While both economies remained deeply interconnected, protectionist policies and unilateral decision-making strained traditional alliances. As the global economic landscape continues to evolve, future leaders will need to rebuild trust, foster cooperation, and establish a more stable and predictable trade environment. Regardless of political changes, the U.S.-Europe economic relationship will remain a crucial factor in shaping global economic stability.
