Financing for Development Conference Outcome Document Focuses on Sustainable Development
In preparation for the Third International Conference on Financing for Development, to be held in July in Addis Ababa, Ethiopia, a draft outcome report laid out a new global framework for financing sustainable development as part of the post-2015 agenda, aiming to mobilize financial and technical resources for development, strengthen national and international policy environments, close technology gaps, and increase public and private investment in development. The goal is to reduce poverty and hunger and achieve sustainable development through promoting inclusive economic growth, protecting the environment, and promoting social inclusion for vulnerable groups, particularly women, children, and the poor.
The report highlights the need for cohesive, nationally-owned development strategies that are tailored to countries’ specific conditions and supported by integrated national financing frameworks. At the same time, it recognizes that the international enabling environment – encompassing global trade, monetary and financial systems, and technology and knowledge sharing – is essential to supporting national efforts. Ensuring sustainable development will take a concerted, cohesive effort by national and international governments, the private sector, civil society, the scientific community, academia, international organizations and donors, and other stakeholders throughout the world.
The report focuses on several areas of development, including:
- Developing inclusive social protection programs and public services;
- Scaling up efforts to end hunger;
- Bridging the infrastructure gap through the establishment of a new platform to bring together stakeholders, identify gaps and constraints, and mobilize financing; and
- Boosting financial access for micro-, small, and medium-sized enterprises.
These goals will necessitate the effective use of increased domestic public resources, as well as the involvement of both domestic and international private sectors, international financial institutions, and international market actors. The report calls for renewed focus on transparency and anti-corruption efforts and incentives for all stakeholders to engage and invest in sustainable development programs.