The third international conference on Financing for Development (FFD), to be held in Addis Ababa in Ethiopia on July 13-16, will launch a new and strengthened global partnership for sustainable development from which country like Bangladesh will be benefited. “The conference is all about implementation of ambitious (sustainable development) goals. It’s expected to provide means of implementation,” said Alexander Trepelkov, an official at the United Nations (UN) headquarters at a videoconference on Thursday night (BST).
A select group of journalists joined the videoconference from the United Nations Information Centre (UNIC) in Dhaka participated by journalists across the world. Margaret Novicki and Janos Tisovszki from the UN headquarters were also present while Office-in-Charge in UNIC, Dhaka M Moniruzzaman moderated it from Dhaka. Alexander, Director of the Financing for Development Office at the United Nations Department of Economic and Social Affairs (UN-DESA), also said the year 2015 is a ‘pivotal’ year for fostering sustainable development and there will be a summit in New York in September with a view to adopting a global and universal, ambitious, transformative and people centric development agenda.
He said the conference on the FFD will provide a comprehensive financing framework in support of implementation of the SDGS and the outcome document of the conference will consist of three elements, including a new financing framework strategy for sustainable development. “The agenda is very comprehensive and it contains some 17 goals,” Alexander said adding that there are three aspects of implementation – social, economic and environmental that would require enormous financial resources and other means of implementation.
Asked whether the conference would produce any results, he said there are expectations and some very specific initiatives on capacity development, technology transfer, mobilisation of domestic resources, tapping private resources would produce positive results not in the near future but in medium term. Responding to another question, the role of developing countries in fostering sustainable development, the UN official said the outcome document of the conference will emphasise creating and enabling a domestic and international environment to tap all available resources in a comprehensive manner to foster sustainable development. “One area is domestic resources mobilization,” he added.
Responding to a question on how UN and development partners can help Bangladesh achieve middle-income status by 2021, Alexander said the international community is committing itself to helping countries meet those challenges and international public finance is the most important for LDCs. It will have to be ensured that a share of Official Development Assistance (ODA) is channeled to the LDCs to help them fight poverty and hunger, said the UN official.
“Unfortunately the recent trend shows that overall development assistance and the share of LDCs in international public finance is decreasing. So, the conference is attempting to reverse the trend and to agree on allocating much greater share up to 50 pc of the ODA for LDCs,” he added. The UN official observed that the developing countries are losing enormous financial resources and how it can be curtailed – the outflow of resources – is being discussed
The conference will also lay emphasis on international action and national sustainable development strategies which are considered as key vehicles to implement the global sustainable development goals. High-level political representatives, including Heads of State and Government, and Ministers of Finance, Foreign Affairs and Development Cooperation, as well as all relevant institutional stakeholders, non-governmental organizations and business sector entities will take part in the conference.
The conference will result in an inter-governmentally negotiated and agreed outcome, which would constitute an important contribution to and support the implementation of the post-2015 development agenda, UNB reports.