Preparations begin for the Third International Conference on Financing for Development

FfD_preparationsPaving the way for the Conference in Addis Ababa in July next year, a series of substantive sessions exploring a range of topics including the global context, domestic and public finance as well as private finance, took place in New York on 10-13 November. Preparations will continue on 9-12 December taking aim at an enabling environment and systemic issues.

“Over the last two years, governments, civil society actors, the private sector, and other stakeholders have shown enthusiasm for a renewed global development agenda which is ambitious,” said Helen Clark, UNDP Administrator, in her keynote address at the first session to prepare for the Third International Conference on Financing for Development.

“The next agenda is expected to be broader and transformational. It is likely to aim to eradicate poverty, not just lift some out of it; demand transformations in countries at all income levels to ensure that our planet’s natural limits are respected; aspire to have peaceful and inclusive societies governed by the rule of law everywhere,” Ms. Clark continued, underlining how the world community needs to think in different ways about development finance.

Since the adoption of the Millennium Declaration in 2000 and the Monterrey Consensus in 2002, the global landscape has changed considerably. Global economic strength is spread amongst more countries. Innovations have opened both new opportunities and challenges. At the same time, the financial crisis has revealed global vulnerabilities and the shortcomings of the international financial system.

Alexander Trepelkov, Director of UN DESA’s Financing for Development Office (FfDO), highlighted the importance of next year’s conference for future development. “An ambitious and transformative post-2015 agenda will need to be supported by a comprehensive financing framework to provide its means of implementation,” said Mr. Trepelkov, pointing to the opportunities that the conference will provide to forge a consensus on a new global partnership for sustainable development.

The substantive sessions in November, chaired by the two co-facilitators of the preparatory process of the Conference, Ambassador Talbot of Guyana and Ambassador Pedersen of Norway, also devoted day-long meetings examining the topics of domestic public finance, international public finance and private finance. They saw a large number of high-level participants sharing their expertise and experience, including representatives from Ministries of Finance, the World Bank, International Monetary Fund, UNCTAD, UNEP, UN Global Compact, McKinsey Global Institute, Massachusetts Institute of Technology (MIT), EURODAD, Tax Justice Network Africa, the OECD, Aviva and the World Council of Credit Unions, among many others.

Organized by UN DESA’s Financing for Development Office, the second and final round of substantive informal sessions will take place on 9-12 December. The overall theme will be “Enabling environment, systemic issues, follow-up process and learning from partnerships”. Participants will discuss various topics, such as the international monetary and financial system, international tax cooperation, debt crisis prevention and resolution, trade, governance and the Financing for Development follow-up process.

To watch these informal sessions via UN Web TV, access presentations, statements and background information, visit the website of UN DESA’s Financing for Development Office via the link provided below.

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Third International Conference on Financing for Development