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Unlocking a trillion dollars for development
Unlocking a trillion dollars for development
Published
2 years agoon
April 22, 2023How do we raise a trillion dollars to address poverty and climate change… without breaking the bank?
We need a lot more money
Whether it’s climate change, poverty, the cost of living crisis, or any number of other challenges we face today, there is one common thread. We need money to help prepare and respond. A lot of it.
Credible estimates put the costs in the trillions of dollars — an order of magnitude greater than what’s currently on the table, particularly for lower income countries.
The good news is that institutions exist that were designed to mobilise money to spur development and invest in global challenges. The bad news is that they are underused, out of date, and in need of a refresh. Those institutions are called multilateral development banks (MDBs). Collectively they hold over US$1.8 trillion in assets and could leverage hundreds of billions – up to a trillion dollars – more in new lending if they used that capital more efficiently.
This page is about how they work and how to get them to work better.
The key numbers
- The major MDBs hold over US$1.8 trillion in assets.
- MDBs could lend up to a trillion dollars more if they used their capital more efficiently.
- Since 1944, the World Bank’s International Bank for Reconstruction and Development (IBRD) has received US$19 billion from shareholders and turned it into over US$800 billion in lending.
A few governments have the power to unlock a trillion dollars to fight poverty and climate change
Unlocking additional funds will require doing five things to change how the MDBs work (which we explain below):
- Take on more risk
- Give more credit to callable capital
- Do more financial innovation
- Improve credit rating agency assessments of MDB financial strength
- Increase access to MDB data and analysis
A few countries hold the majority of the voting shares, making their support critical for implementing the reforms necessary to unlock new funds.
Here’s a live tracker of where those countries stand on the five reforms.
Just how much could the World Bank invest in fighting poverty, pandemics and climate change?
Changes to the World Bank’s balance sheet could unleash hundreds of billions more in financing. Money that could help vulnerable countries invest in future growth, resilience and help end poverty. The interactive tool allows you to gamify the World Bank’s balance sheet to see the impacts of key reforms currently being debated.
The tool enables you to:
- Adjust the bank’s usable equity, callable capital, and lending to see how it impacts the bank’s lending capacity.
- Manipulate the bank’s lending ratios to see the impacts on its lending capacity.
about:blankPick a scenario
The tool is designed to be illustrative and is based on the data and information the World Bank makes publicly available. It can’t account for all factors, particularly where good data is not available. Actual new lending in any given year will be influenced by a range of other factors. While the tool illustrates how much more financing the World Bank could potentially mobilize, it does not model actual lending in future years.
The tool looks only at the World Bank’s IBRD. It plays an outsized role in influencing other MDBs and shaping the global agenda so the impact of the World Bank implementing these reforms could be amplified many times over if others follow.
How do the multilateral development banks work?
They are Multilateral: That means they are owned by countries that collectively make up their shareholders. Some countries are borrowers, some are donors, some are both, but they all sign up to an international treaty that provides certainty to all involved.
They focus on Development: The purpose is to provide finance for investments in future prosperity: that includes everything from roads and power plants to education programs and pandemic prevention.
They are Banks: Shareholders provide capital in the form of cash and guarantees that they will step in if things go poorly. That makes the MDBs very secure investments. They issue bonds on international markets, thereby increasing the amount that is available to be on-lent to countries at a cheaper rate and on better terms than countries could access themselves. When that money is repaid, it can be lent to another borrower. This is extraordinarily efficient. Since 1944, the World Bank has taken US$19 billion of cash from shareholders and turned it into over US$800 billion of lending.
MDBs are considered to be safe and stable for three key reasons:
- They have preferred creditor status, which means that MDBs are first in line amongst creditors to get repaid, even if a country defaults on a loan. Analysis for the G20 showed that governments almost always repay loans to MDBs on time.
- They have a “AAA” credit rating, which means they are safe investments and thus can borrow from bond markets cheaply.
- They have US$2 trillion in a guarantee called “callable capital.” This is not cash, but a guarantee that the world’s leading economies will step in should MDBs get into trouble. Throughout all of the financial crises since 1944, callable capital has never actually been called upon. That reassurance makes MDB bonds very safe investments and highly attractive to private investors.
- How do the multilateral development banks lend?
- Most have two lending facilities called “windows”:
- Non-concessional or hard loan windows are mostly available to middle-income countries and make profits that can be recycled into new programmes. The IBRD is the World Bank’s non-concessional window.Concessional or soft loan windows are mostly available to low-income countries and use aid to subsidise the cost of the loan. The International Development Association (IDA) is the World Bank’s concessional window.A government will typically come to one of the banks with an application for a loan. Legal, policy, and technical experts will then advise on both the structure of the loan and the policies needed to make it work.
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PublishedDecember 14, 2022Text last updatedApril 14, 2023
Politics
Women aren’t given power. They make it.
Women aren’t given power. They make it.
Published
2 years agoon
April 22, 2023Explore how gender inequality is preventing progress in human development, and what women are doing about it.
It is and has long been a man’s world.
Throughout much of history, men have seized resources, created institutions in their image, controlled markets, and leveraged those advantages to the detriment of women.
As a result, women often do as much, or more, for less pay and less recognition than men. There is nowhere on earth where women and men enjoy full equality.
Where – and what sex – you are born does not determine your intelligence, resourcefulness, or abilities. It determines your relationship with existing power structures.
This relationship to power overwhelmingly determines our futures. Yet women persevere, finding power through solidarity, and pure grit, and challenging a world built for men.
Key Statistics
Women and girls don’t all experience gender inequality in the same way. But data can help illuminate the complex barriers that they will likely deal with.
- US$172 trillion: The lifetime wealth gap created by the difference between men’s and women’s total expected lifetime earnings (nearly twice the world’s gross domestic product).
- 1 in 3 women will experience physical or sexual violence in their lives. 1 in 10 girls is forced into sex.
- 200 million: The number of hours every day that women and girls spend on water collection.
- 0.31%: The share of international aid that went to women’s rights organisations in 2021.
How gender norms are holding us all back
Gender norms, societal expectations, and assumptions about how men and women should behave can hold women back from participating in the labour force, accessing financial resources, and holding political positions of power. They can deprive girls of nutritious food, opportunities to play, and investment in early learning.
They are detrimental to all of us when they impede economic growth. And they are abusive when they normalise gender-based violence.
But norms are not destiny. In recent decades, the proportion of people who believe in prioritising men’s and boy’s employment and education over their female counterparts has fallen. And legal provisions to protect women from domestic violence have challenged the social acceptance of these crimes. Progress on gender equality is hard-fought, incremental, and largely driven by women. There’s much more to do, and it’s up to all of us to do it.
Achieving gender equality would mean a world where who you are – and your perceived role in society – does not limit your rights, opportunities, and access to resources and services.
We’re failing women
The world is making progress towards gender equality. Slow and uneven progress.
ONE Analysis based on UNDP Human Development Report
This chart shows the distribution of countries’ gender inequality index (GII) scores since 1990
Between 2015 and 2020, 1 in 3 countries either made no progress on gender equality or moved into reverse.
On the current trend, gender equality will take nearly 300 years.
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PublishedMarch 23, 2023Text last updatedApril 11, 202
Politics
BBC Africa Eye investigation examines horrific cases of child sexual abuse and incest in northern Uganda
BBC Africa Eye investigation examines horrific cases of child sexual abuse and incest in northern Uganda
Published
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April 18, 2023During the pandemic, underage pregnancies soared in Uganda with a 366.5% increase in girls aged 10-14 becoming pregnant.1 The north in particular, has suffered a tragic level of child sexual abuse and incest – which many claim is caused by a legacy of a 20-year civil war led by Joseph Kony and the Lord’s Resistance Army (LRA).
For the BBC Africa Eye investigation, Uganda’s Stolen Innocence, reporter Paul Bakibinga returns to his homeland of Uganda and travels to the north, to investigate the true scale of the problem in the region, and the price of justice for many.
Dr. Baifa Arwinyo, Head of Obstetrics and Gynaecology at Gulu Regional General Hospital, spoke to the BBC about the complexities of underage pregnancies. “From the last financial year’s report, about 23% of our pregnancies were teenagers. If I’m talking of teenage mothers, all of them are defiled.” She added: “Because they are young, their bodies are not developed to handle a delivery. And you’ll find that young mothers are the highest proportion of those dying of obstructed labour.”
In Uganda, defilement is defined as unlawful sexual intercourse with a girl below the age of 18 – the legal age of consent. If a girl is under 14, or her abuser is a carer or HIV positive, or if the accused is a repeat offender, it becomes aggravated defilement. Incest is a separate crime under the Penal Code. Despite ongoing cases of defilement, the investigation found that criminal convictions remain low due to scarce resources and alleged corruption throughout the justice system.
A mother to a three-year old victim who was defiled by a relative, told BBC Africa Eye of her ordeal to find justice: “The community wanted everything to be kept within, but the police had already been informed and he got arrested.” Despite medical evidence supporting the abuse, the perpetrator was released on bail as the due legal process was not followed properly. The mother did not have the financial means to continue the legal case.
Eunice Lakaraber Latim, legal counsel for NGO Caritas, explained how poverty and corruption have led to an increase in such cases: “Growing up from Gulu, I saw so many children getting defiled, and most of those parents did not have the resources to pursue the justice that their children deserved.” She added: “You have to literally pay your way to get justice. You have to pay money for fuel to have the suspect apprehended.”
BBC Africa Eye also obtained an exclusive interview with Minister of State for Northern Uganda, Grace Freedom Kwiyucwiny who acknowledged wider challenges within the justice system. “I can’t deny corruption…It’s at all levels. We have laws on defilement, we have laws on incest, but somehow again, people just go behind the law and bribe police.” On the level of cases prosecuted she added: “There are cases which have been prosecuted, but the number is not high. From the cases which were reported, only 6% reached court.”
The Regional Police Commander Nachula Damalie denied police corruption but admitted that there were problems in how some cases are dealt with.
In northern Uganda, the violent 20 -year conflict is a critical context.
The BBC spoke to Pamela Angwech, director of Gulu Women’s Economic Development and Globalization (GWED-G), to understand how the post conflict legacy left by Joseph Kony and the LRA have fuelled sexual abuse and gender-based violence. She explains how the LRA used sexual abuse as “a military strategy”.
“I describe it as the war was fought in the body of the woman and the woman became the battlefield.” Pamela added: “Living within a toxic, minefield environment had long term effects on the community. People are used to seeing death. People begin to think that sexual and gender-based abuse seems to not be the highest level of abuse.”
GWED-G, have trained over 1,000 men with violent pasts, to help change the way women are treated within the community.
The organisation has also trained young women born in captivity to develop skills to enable them to earn a living. One of the beneficiaries of this program, Eunice, learned to bake, which has helped her support her own baby.
Reflecting on his time in Gulu, Paul Bakibinga said: “It’s over 15 years ago that the LRA were formally driven out of northern Uganda. But the aftereffects of the 20 year long insurgency continue to ripple through this society. The stories that I’ve heard from these women are heart breaking.”
‘BBC Africa Eye: Uganda’s Stolen Innocence’ is available on the BBC Africa YouTube channel on Monday 17 April 2023, here.
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Global Citizen Announces Winners of 2023 Global Citizen Prize and Cisco Youth Leadership Award
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Global Citizen, the world’s leading international advocacy organization, today announced the recipients of this year’s prestigious Global Citizen Prizeand the Cisco Youth Leadership Award. The awards honor young, trailblazing changemakers who are profoundly impacting their local communities in the fight to end extreme poverty, demand equity and protect the planet, in line with Global Citizen’s campaign to End Extreme Poverty Now.
The award recipients will be honored at a prestigious ceremony taking place during the Global Citizen NOW action summit at The Glasshouse in New York City on Thursday April 27, 2023. The ceremony will be hosted by Actress, Humanitarian, and Global Citizen Ambassador Nomzamo Mbatha and feature appearances by Sabrina Dhowre Elba, Chair of Global Citizen’s European Board of Directors and United Nations IFAD Goodwill Ambassador; Padma Lakshmi, Producer, TV Host, Author and Activist; Bridget Moynahan, Global Citizen Ambassador; and Erna Solberg, Former Prime Minister of Norway, and will feature performances by Natasha Bedingfield, Chloe Flower, and Samara Joy.
The Global Citizen Prize celebrates individuals who have demonstrated outstanding commitment to achieving the United Nations Global Goals by keeping the world’s poor at the forefront of their campaigns, and recognizes unsung activists who champion and elevate the most vulnerable in their local communities. This year, the Global Citizen Prize highlights activists across four categories: Climate Change, Civic Space, Sexual and Reproductive Health, and Food Security. The recipients will receive a year-long programme of support from Global Citizen, together with a donation to their organization. Proud Global Partners of the Global Citizen Prize 2023 include Cisco, Citi and P&G.
The Global Citizen Prize 2023 awardees are:
Deja Foxx, Activist and Founder of GenZ Girl Gang, from the U.S.,
Ineza Umuhoza Grace, Global Coordinator and Cofounder, Loss and Damage Youth Coalition, from Rwanda;
Pashtana Durrani, Social and Political Rights Activist, Executive Director, LEARN Afghanistan, from Afghanistan;
Wangari Kuria, Founder and CEO of Farmer on Fire Ltd, from Kenya.
The Cisco Youth Leadership Award was established in 2018 by Cisco and Global Citizen to celebrate an individual aged between 18-30 who has contributed meaningfully towards the goal of ending extreme poverty in their community, through their leadership, dedication, and innovation. The prize winner will receive a US$250,000 grant to their organization to enable its continued growth. Candidates were judged, by a panel including representatives from Global Citizen, Cisco, esteemed activists and leaders in the international development field, against five equally-weighted criteria, including impact, vision, catalyst, global citizenship, and technology innovation.
This year’s Cisco Youth Leadership Award recipient is Nkosana Butholenkosi Masuku, Founder and CEO of Phenomtech-Sciency Learning, from Zimbabwe. A Science, Technology, Engineering and Mathematics (STEM) teacher working at a rural school, Nkosana created Sciency Learning as a result of the lack of resources for teaching STEM in Zimbabwe’s rural communities. Sciency’s objective is to provide low-cost STEM education to students across Zimbabwe in a bid to reduce dropout rates and advance STEM development across the country. Nkosana is an alumnus of the Mandela Washington Fellowship and an award-winning entrepreneur.
“STEM education is critical for opening doors of opportunity, and Nkosana’s vital work utilizing innovative technology to offer STEM learning to rural schools across Zimbabwe is transformative,” said Fran Katsoudas, EVP and Chief People, Policy & Purpose Officer of Cisco. “Investing in education reaps a lifetime of benefits, not only for children but also for their communities. The work of young leaders like Nkosana is helping to usher in a more inclusive future by empowering youth in Africa and around the world to thrive in the digital economy.”
“It is an honor to recognize these inspirational, young changemakers who are advancing the fight to end extreme poverty,” said Liza Henshaw, President, Global Citizen. “The world needs innovators who will courageously pursue positive change in their local communities, and inspire others to action through their ingenuity.”
For more information about the Global Citizen Prize: Citizen Award 2023, Cisco Youth Leadership Award, and Global Citizen NOW visit www.globalcitizen.org/prize and follow @GlblCtzn Twitter, Facebook and Instagram using #GlobalCitizen.
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Kobina de Graft-Johnson blazes the trail for Ghanaian filmmakers at Black Web Fest film festival
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US-based Ghanaian filmmaker, Kobina de Graft-Johnson continues to blaze the trail for Ghanaian filmmakers, as he has been selected for a prestigious grant at the Black Web Fest in New York, for his outstanding work as an indie filmmaker. His short film, ‘Barely Made,’ was chosen from a pool of talented applicants and will be screened at the film festival on the 29th April, 2023, to celebrate the work of Black filmmakers in the diaspora.
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Kobina de Graft-Johnson is a rising star in the independent film community both in New York and Ghana, and his work has been praised for its unique perspective and powerful storytelling. The selection of his film for this grant is a testament to his talent and dedication to the craft of filmmaking, after taking the bold step to ditch his accounting career.
‘Barely Made’ explores themes of identity and womanhood, and tells the story of how a young Ghanaian-American woman called Adwoa navigates the murky waters of corporate work-life, romantic relationships and her social life. The role was brought to life by critically acclaimed actress and singer-songwriter Abena who has starred in several Comedy Central and Netflix movies. The film has already garnered critical acclaim and has been praised for its bold and thought-provoking message.
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The Black Web Fest is an organization created to increase diversity in media and entertainment, and help Black creators build sustainable careers. By selecting Kobina’s work, they have created an accessible programme and services where they will leverage technology to better serve the community.
Sharing his excitement to be part of this year’s festival, Kobina says, “it’s really a great feeling to have hard work recognized. I am super excited to share this pilot with the world now. As an indie filmmaker there are daily challenges of trying to put a vision on screen, but with God, hard work, a great team and vision, we were able to complete it.”
For more information on Kobina de Graft-Johnson and ‘Barely Made’, please visit @anibokstudios across all social media platforms.
About Kobina de Graft-Johnson:
Born and raised in Tema, Ghana, Kobina de Graft-Johnson is a visionary leader with an unwavering passion for creating a catalogue of 100 films that shape the narrative of Ghanaian culture. As the Founder, CEO, and Director of Photography at Anibok Studios, Kobina is leading the way in innovative ways of filming and collaboration. His entrepreneurial approach to creativity involves not only creating content but also understanding the business of art to create a sustainable venture while creating opportunities for other creatives. Kobina’s body of work extends from Ghana to New York, where his short films showcase African culture through a contemporary lens. As a supporter of women’s empowerment and the deaf and blind community, Kobina’s work has clients including Vogue Espana, Brussels Airlines, Centric TV, Bronx Net Television, and many more. With a favourite memory of filming backstage at the 2016 BET Awards, Kobina continues to turn his dreams into films.
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How Gut Health Affects Mental Health: Exploring the Gut-Brain Axis
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Numerous studies have revealed the deep relationship between our gastrointestinal system and our emotional well-being, igniting interest in the connection between gut health and mental health in recent years. In this article, we investigate how taking care of your stomach can have a good impact on your mental health and dig into the intriguing world of the gut-brain axis.
The Gut-Brain Axis: An Overview
The gut-brain axis is a bidirectional communication network that connects the gastrointestinal tract with the brain, involving the central and enteric nervous systems. It plays a critical role in regulating digestion, immune function, and even mood, highlighting the intimate relationship between gut health and mental health.
How Gut Health Impacts Mental Health
The Role of the Microbiome
The gut microbiome is home to trillions of bacteria, fungi, and viruses that play a vital role in maintaining overall health. These microbes can produce various neurotransmitters, such as serotonin and dopamine, that influence mood and behavior. An imbalanced gut microbiome has been linked to anxiety, depression, and other mental health issues.
Inflammation and Mental Health
Chronic inflammation in the gut can lead to increased levels of inflammatory cytokines that can cross the blood-brain barrier, contributing to neuroinflammation and mental health disorders like depression and anxiety.
Neurotransmitters and Hormones
The gut produces around 90% of the body’s serotonin, a neurotransmitter crucial for mood regulation. Imbalances in gut-derived serotonin and other hormones can lead to emotional disturbances and mental health issues.
Factors Affecting Gut Health
For general well-being as well as for mental health, a healthy gut is crucial. But a variety of variables can affect gut health, which then affects mental health. Making decisions to support gut health and emotional wellbeing can be facilitated by an understanding of these variables.
Diet and Lifestyle
Poor dietary habits are one of the primary factors affecting gut health. Diets high in processed foods, sugar, and unhealthy fats can lead to an imbalance in the gut microbiome, promoting the growth of harmful bacteria and reducing the population of beneficial bacteria. This imbalance can contribute to inflammation, poor digestion, and impaired nutrient absorption, negatively impacting mental health.
However, a well-balanced diet full of whole foods, fiber, and fermented goods can support gut health and enhance mental wellness. Consuming a mix of fruits, vegetables, whole grains, lean proteins, and healthy fats can assist maintain a balanced intestinal environment by supplying important nutrients.
Gut health is also greatly influenced by lifestyle choices like exercise and stress reduction. By enhancing the variety of the gut microbiota and lowering inflammation, regular exercise helps to promote gut health. Additionally, persistent stress can have a deleterious effect on the gut-brain axis, resulting in gastrointestinal symptoms and aggravating mental health conditions.
Medications
Certain medications, particularly antibiotics and nonsteroidal anti-inflammatory drugs (NSAIDs), can disrupt the gut microbiome, leading to imbalances and potentially affecting mental health. Antibiotics can wipe out both harmful and beneficial bacteria, creating an opportunity for harmful bacteria to overpopulate the gut. NSAIDs, on the other hand, can cause inflammation in the gut lining, leading to leaky gut syndrome and increased permeability. This can contribute to systemic inflammation and negatively impact mental health.
Genetics
Genetic factors can influence the composition of the gut microbiome, making some individuals more susceptible to imbalances and gut-related mental health issues. While we cannot change our genetics, understanding our predispositions can help us make targeted lifestyle and dietary changes to support gut health.
Environmental Factors
Environmental factors, including exposure to toxins, pollutants, and harmful bacteria, can also affect gut health. These factors can disrupt the delicate balance of the gut microbiome and contribute to inflammation, which can negatively impact mental health. Maintaining a clean living environment, consuming organic foods when possible, and limiting exposure to harmful substances can help support gut health and overall well-being.
Sleep
Poor sleep quality and sleep deprivation can negatively impact gut health. Studies have shown that lack of sleep can alter the gut microbiome, leading to imbalances that can contribute to inflammation and mental health issues. Establishing healthy sleep habits, including maintaining a consistent sleep schedule and creating a relaxing bedtime routine, can help improve gut health and support mental well-being.
Strategies to Improve Gut Health and Mental Health
Optimize Your Diet
A diverse and balanced diet rich in whole foods, fiber, and fermented products can help nurture a healthy gut microbiome, support gut health, and promote mental wellbeing. Incorporate a variety of fruits, vegetables, whole grains, lean proteins, and healthy fats to provide essential nutrients and maintain a balanced gut environment.
Probiotics and Prebiotics
By fostering the development of advantageous bacteria, lowering inflammation, and strengthening the barrier function of the gut, probiotic and prebiotic supplements can improve gut health. Live bacteria known as probiotics are found in fermented foods including yogurt, kefir, sauerkraut, and kimchi. They can also be taken as supplements. Contrarily, prebiotics are indigestible fibers that provide probiotics with meals. They are present in foods like garlic, onions, bananas, and asparagus.
Stress Management
Stress can negatively affect the gut-brain axis, potentially causing gastrointestinal symptoms and exacerbating mental health issues. Implementing stress management techniques such as exercise, meditation, and proper sleep hygiene can help maintain gut health and support mental wellbeing.
Exercise
Regular physical activity has been shown to improve gut health by increasing the diversity of the gut microbiome and reducing inflammation. Additionally, exercise can help alleviate stress and improve mood, further contributing to better mental health. Aim for at least 150 minutes of moderate-intensity aerobic activity or 75 minutes of vigorous-intensity aerobic activity each week, along with muscle-strengthening activities on two or more days per week.
Limiting Medications
While medications can be necessary for treating certain conditions, it is essential to use them judiciously and under the guidance of a healthcare professional. If possible, work with your doctor to minimize the use of medications that can negatively impact gut health, such as antibiotics and NSAIDs, and explore alternative treatments when appropriate.
Summing Up
The link between gut health and mental health is undeniable, and understanding the gut-brain axis can help us take control of our emotional wellbeing. By nurturing our gut through a balanced diet, probiotic and prebiotic supplementation, effective stress management, regular exercise, and limiting medications, we can support not only our digestive health but also our mental health. Start paying attention to your gut today and reap the benefits for your mind and body.
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