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Multi-stakeholder Consultations on Financing for Development

Dialogues organized by The Indus Entrepreneurs (TiE) in cooperation with the Financing for Development Office

"Strengthening the business sector and entrepreneurship in developing countries: the potential of diasporas"

Background information

  1. In its resolution 60/188 of 22 December 2005, the General Assembly requested the Financing for Development Office to continue to organize workshops, multi-stakeholder consultations and panel discussions to examine issues related to the mobilization of resources for financing development and poverty eradication.  In response to this mandate, the Financing for Development Office has engaged The Indus Entrepreneurs (TiE) to organize a multi-stakeholder workshop on "Strengthening the role of the business sector and entrepreneurship in developing countries: the potential of diasporas".
  2. A recurring theme throughout the Monterrey Consensus is the need to foster a dynamic and well-functioning business sector in developing countries. Within this context, increasing attention is being given in both public and private forums to the issue of how the growing diasporas from the developing world could promote the growth and development of businesses and entrepreneurship in their homelands.  The two inter-related mechanisms through which the diasporas can play a role in strengthening the business sector in developing countries are, firstly, inflows of financial resources (i.e. collective remittances, equity and bond finance) and, secondly, their ability to transfer knowledge, strengthen skills and facilitate trade through their networks and contacts.  While assessing what has already been done and the lessons to be learnt in terms of both the success stories and the obstacles that have been encountered, special focus will be given to what more needs to done to ensure that the diasporas' financial and human resources are utilized to their maximum potential.
  3. The workshop will be held on 5 October 2006 at UN Headquarters in New York and comprise practitioners and experts from the private sector, multilateral organizations (UN DESA, World Bank, Regional Development Banks, UNCTAD etc), governments and academia. It will be a closed expert group discussion, at which participants are encouraged to structure their debate around a flexible working agenda. On the following day, 6 October 2006, the participants will brief UN delegates in an open plenary session on the findings and outcomes of the discussions held during the previous day and encourage feedback from member states.
  4. This workshop is envisioned to trigger some follow-up multi-stakeholder consultations, perhaps at the regional level. The findings and recommendations of the workshop and any follow-up consultations, as well as practical achievements such as initiatives that may have been generated, will be discussed at a number of high-profile forums, including the UN High-Level Dialogue on Financing for Development that will take place in 2007 (a ministerial-level meeting).

Financing for Development Office, 2 U.N. Plaza (DC2-2170), New York, N.Y. 10017
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