Providing important substantive input to the MDG Summit in September

High-level Dialogue of the General Assembly on Financing for Development was held on 23-24 March in New York on the overall theme “The Monterrey Consensus and Doha Declaration on Financing for Development: status of implementation and tasks ahead”.

The President of the General Assembly opened the meeting, followed by the opening address by the Secretary-General. Then, the messages on behalf of the heads of the major institutional stakeholders were delivered by: Mr. Otaviano Canuto, Vice President and Head of Poverty Reduction and Economic Management Network of the World Bank; 2) Ms. Rebeca Grynspan, Associate Administrator of UNDP; 3) Mr. Petko Draganov, Deputy Secretary-General of UNCTAD; and 4) Mr. Shishir Priyadarshi, Director of the Development Division of WTO. During three plenary meetings on 23 March (morning and afternoon) and 24 March (morning), the heads of more than 70 delegations delivered formal statements.

On the second day, three multi-stakeholder round tables (morning) and an interactive dialogue (afternoon) were held as follows: RT1 on “The reform of the international monetary and financial system and its implications for development”; RT2 on “The impact of the current financial and economic crisis on foreign direct investment and other private flows, external debt and international trade”; RT3 on “The role of financial and technical development cooperation, including innovative sources of development finance, in leveraging the mobilization of domestic and international financial resources for development”; and Informal Interactive Dialogue on “The link between financing for development and achieving the Millennium Development Goals: the road to the 2010 high-level event”. Each of the four informal meetings, chaired by a Minister or Vice-Minister, featured presentations by 2-3 keynote speakers, followed by an interactive discussion.

Due to rescheduling of the meeting, participation at the ministerial level suffered. Nevertheless, one Prime Minister (Tajikistan), two ministers (Samoa and United Kingdom) and 6 vice-ministers (Egypt, Portugal, Slovakia, Spain, United States and Venezuela) participated.

The main substantive points of the discussion were summarized by the President of the General Assembly in his concluding remarks and are available on the FfD website. The President’s summary will be issued at later date and will be available at the same website.

Overall, this fourth High-level Dialogue on FfD demonstrated a robust and inclusive intergovernmental process at work towards realizing international commitments on financing for development and meeting the MDGs. It was generally recognized that the Dialogue largely met its objective to provide an important substantive input to the preparations for the September Summit on the MDGs and to make its outcome more meaningful and action-oriented.

More information on High-level Dialogue of the General Assembly on Financing for Development.

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