Mr. Wu Hongbo Under-Secretary-General for Economic and Social Affairs, Secretary-General for the Third International Conference on Financing for Development

Closing Remarks
Regional Consultation on Financing for Development organized by UNECE

23 March 2015, Geneva

Excellencies,
Ladies and Gentlemen,

We have come to the conclusion of this regional preparatory consultation. I would like to thank our hosts, the Economic Commission for Europe and the Regional UN Development Group for Europe and Central Asia, for so successfully organizing this important event. 

I am very encouraged by the many concrete proposals, strategies and instruments that were discussed to promote financing for sustainable development. We have heard many thoughtful interventions and ideas, which we will take back to New York. They will undoubtedly inform and enrich the intergovernmental deliberations on the way to Addis Ababa.

Both the needs and priorities of your region have become very clear. We heard many very concrete proposals. They included new and innovative financing mechanisms, impact investment and public-private partnerships, as well as a larger role for multilateral development banks.

In maximizing the contribution of these instruments and actors, the contribution of the public sector were seen as key. Governments need to create enabling environments, both nationally and internationally, while also ensuring that risks are shared fairly. This also includes changes in the rules, regulations and incentives in financial markets and integrated reporting of the social and environmental impacts of private activity, to ensure that all investments become sustainable. 

At the same time, you have emphasized the importance of enhanced international cooperation. I am encouraged that many have underlined the continued importance of ODA, and by the commitment to increase its effectiveness. I also take note of the importance that many participants assign to taxation and the commitment to make real progress on international cooperation in tax matters, as well as on the international trading and investment regime. These issues are also high on the agenda in discussions in New York and I look forward to the results of today’s meeting to further inform deliberations at the global level.

Excellencies,

The views and priorities expressed today are a useful reminder of the universal nature of our agenda, which is indeed applicable to all countries, and which challenges all countries to do more and to do better. Countries in your region have a lot to offer, and a lot to gain from this effort. 

I trust that the active engagement that you have shown today will continue in the months ahead, in Addis itself and in the follow-up process. And I count on your support to ensure that your region is represented at the highest possible political level, with the participation of ministers of finance and economic development, at the Addis Ababa Conference. Only if you are fully engaged will we be able to come up with a universal framework, applicable and relevant to all and delivering sustainable development for people and planet. 

I look forward to continuing this dialogue, and thank you for your commitment to making Addis a success.

            Thank you.

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