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Outcome of the Follow-up International Conference on Financing for Development to Review the Implementation of the Monterrey Consensus

Member States adopted by consensus the Doha Declaration on Financing for Development (A/CONF.212/L.1/Rev.1*) at the closing of the Follow-up International Conference on Financing for Development to Review the Implementation of the Monterrey Consensus (Doha, Qatar, 29 November - 2 December 2008). The declaration reaffirms the Monterrey Consensus and calls for a United Nations Conference at the highest level to examine the impact of the world financial and economic crisis on development. Officials from more than 160 countries, including nearly 40 Heads of State or Government, attended the four day conference.

Secretary-General Ban Ki-moon, recalling that the Monterrey Consensus marked "a new era of cooperation, bridging the old North-South divide", stated at the Conference that "the Monterrey vision could yet deliver all that, and more. Faithfully implemented, it is a path out of our current predicament." [Full statement]

Welcoming "the remarkable" Doha Declaration, General Assembly President Miguel d'Escoto Brockmann said it "highlighted a new sense of solidarity and goodwill among nations at a time when we can be tempted to withdraw into our narrowly defined self-interests". He added "our declaration is clear that we must seize this opportunity to make our global financial system more equitable, sustainable and stable". The Declaration called for the convening, at the highest level, of a conference on the world financial and economic crisis and its impact on development. [Full statement]

On behalf of the Secretary-General, who could not attend the closing, Mr. Sha Zukang, Under-Secretary-General for Economic and Social Affairs, who steered UN substantive support to the Conference, called the Declaration "an important milestone in the struggle for development" that adds significant value to what was achieved in Monterrey in 2002. "On every aspect of the financing for development agenda, we can identify areas in which there has been progress." [Full statement]

Financing for Development Office: 2 U.N. Plaza (DC2-2170), New York, N.Y. 10017 | Telephone: 212-963-2587 | Fax: 212-963-0443 | Website: www.un.org/esa/ffd