Statement attributable to the Spokesman for the Secretary-General on innovative finances

The Secretary-General applauds the steps taken by a number of countries to implement two new methods of raising additional sources of finance for development. A number of countries pledged resources to an International Finance Facility for Immunization, which would enable it to raise even more resources through the issuing of bonds. In addition, some countries are exploring the introduction of a levy on tickets for air travel to fund development efforts.

These initiatives, in a few months time, will start saving the lives of millions of people around the world. They show that the international community not only has the resources and knowledge to achieve the Millennium Development Goals, but also is beginning to develop the necessary political will.

Even with the increases in ODA that we have seen in recent years and the commitments of 15 members of the European Union to devote 0.7 percent of their income to official development assistance and even if the MDGs are reached there will still be a vast backlog of human deprivation that deserves our unrelenting attention. That is why innovative sources of finances are so important.

The Secretary-General strongly encourages other countries to join these initiatives.