Deputy Secretary-General Launches Joint Sustainable Development Goals Fund, Countries Pledge $47.16 Million for 2018
The upturn in the world economy was encouraging and provided a platform for further progress, but lingering economic vulnerabilities, the escalation of geopolitical tensions and natural disasters could derail development gains, ministers and high-level officials emphasized today, as the Economic and Social Council’s Forum on Financing for Development got under way.
Marie Chatardova (Czechia), President of the Economic and Social Council, said significant progress had been made in the last three years to implement the Addis Ababa Action Agenda, but implementation gaps remained. Large-scale, long term investment in the Sustainable Development Goals � including private investments and finance, as well as public and blended financing � must be encouraged, she said, calling for multilateral development banks, development finance institutions and South-South cooperation to scale up their contributions to the 2030 Agenda for Sustainable Development.
Miroslav Lajcak (Slovakia), President of the General Assembly, said that, despite progress since 2015, including a reduction in the global poverty rate and malnutrition, as well as increases in primary school enrolment and global access to electricity, many people continued to be left behind.
We cannot continue at the current pace, he warned, pointing out that a staggering 42 per cent of people in sub-Saharan Africa lived in extreme poverty and the devastating impacts of climate change continued to be felt, especially by the most vulnerable countries. The investment gap in developing countries alone was some $2.5 trillion per year for the major Sustainable Development Goals sectors, he said, continuing: But, we cannot aim to just throw money at the problem. Instead, we must have a strategic and targeted approach.
Donald Kaberuka, High Representative, African Union Peace Fund, in a keynote address, said the world was witnessing unprecedented progress in human history. With the adoption of the Sustainable Development Goals, it was no longer about the North or South, but rather about the multi-polarity of resources, stressing the importance of smart ODA, which flowed to where it was most needed, such as fragile States, and leveraged private capital while addressing issues of de-risking.
For the world to vanquish poverty by 2030, leaders must first and foremost address the fragile situation in which millions of people who lived by building institutions, giving the lead to the people living in those countries and creating conditions that would incentivize private investment, he said. De-risking markets and ensuring the flow of private capital to where it was needed would require an understanding that the forces driving protectionism, as well as the my country first and winner-take-all mentalities were adding to risk in capital flows.
Amina Mohammed, United Nations Deputy Secretary-General, said domestic resource mobilization, national implementation and ownership, and financing frameworks for implementing the Goals was critical, as was a global environment supportive of long-term investment. Mechanisms had to be implemented to unlock the resources for countries with urgent needs, including for climate change adaptation.
Addressing the Forum via video message, Antonio Guterres, Secretary-General of the United Nations, said overcoming the challenges of development financing could not be done in insolation. He urged all stakeholders to uphold their commitments on official development assistance (ODA), while highlighting the need for a system of trade that was truly free and fair. At the same time, the international community must do much more to fight money-laundering, tax evasion and illicit financial flows.
Sultan bin Saad al-Muraikhi, Qatar’s Minister of State for Foreign Affairs, in a special message to the Forum, said that, in view of global challenges, the 10 Doha Messages that came out of the preparatory meeting to the Forum reaffirmed the will of Member States to commit to the 2030 Agenda’s implementation and its financing.
In the morning, Liu Zhenmin, Under-Secretary-General for Economic and Social Affairs and Chair of the Inter-Agency Task Force on Financing for Development, introduced the Secretary-General’s note on financing for developing, which highlighted the main findings of the Task Force’s 2018 report.
Noting that the report put forward a set of policy options that could close implementation gaps and put the world on a more sustainable growth path, he said that financial sector incentives needed to be oriented towards long-term issues and the Sustainable Development Goals, while policies, plans and programmes must be informed by integrated national financing strategies. Public, private and blended financing all contributed to funding Sustainable Development Goal investments, yet the needs of individual projects should determine which type of financing was appropriate.
Ministers and other high-level officials also participated in two round table discussions throughout the day during which they shared national policy and institutional developments in support of implementation of the Addis Action Agenda, as well as challenges encountered and international support measures required.
In the afternoon, Ms. Mohammed launched the Joint Fund for the 2030 Agenda, recalling that the Secretary-General had laid out his vision to reposition the United Nations development system. The Fund � a pooled funding mechanism that aimed to help Member States expedite progress towards the Sustainable Development Goals � would be an important component of the global funding compact and would build on successful efforts of the past, including the Delivering as One experience.
During the launch, countries pledged approximately $47.16 million total for 2018 to the Fund. The European Union pledged Euros 30 million for 2018 2020 (about $36.63 million), including Euros 12.21 million for 2018. Also, for next year, Sweden pledged $20 million; Spain pledged $10 million; Switzerland pledged 3 million Swiss francs (about $3.07 million); Norway pledged 10 million Norwegian kroner (about $1.27 million); and Ireland pledged Euros 500,000 (about $610,422).
In other business, the Council adopted its provisional agenda (document E/FFDF/2018/1).
The Economic and Social Council will resume its Forum on Financing for Development at 10 a.m. on Tuesday, 24 April.
MARIE CHATARDOVA� (Czechia), President of the Economic and Social Council, said that significant progress had been made in the last three years to implement the Addis Ababa Action Agenda, but implementation gaps remained. There was an upturn in the world economy that was encouraging and provided a platform for further progress but lingering economic vulnerabilities, the escalation of geopolitical tensions and natural disasters could derail development progress. Concrete action on the ground was required for financing the Sustainable Development Goals. Large-scale, long-term investment in the Goals including private investments and finance, as well as public and blended financing must be encouraged. Development cooperation remained a central element in financing for development. Multilateral development banks, development finance institutions and South-South cooperation should scale up their contributions to the 2030 Agenda for Sustainable Development, she said.
The Forum would enable further momentum to reach those Goals, she said. This year’s Forum built on a strong preparatory process, which included the High-level Conference on Financing for Development and the Means of Implementation for the 2030 Agenda, organized by the State of Qatar in cooperation with the United Nations Department of Economic and Social Affairs, which resulted in 10 Doha Messages aimed at strengthening coherence and cooperation for realizing the Addis Ababa Agenda and the Goals.
MIROSLAV LAJCA�K (Slovakia), President of the General Assembly, said that progress had been made since 2015, with a reduction in the global poverty rate, increases in primary school enrolment and global access to electricity, as well as a declining number of undernourished people worldwide. Nevertheless, many people continued to be left behind. A staggering 42 per cent of people in sub-Saharan Africa lived in extreme poverty, 52 million children under the age of five suffered from wasting, 2 billion people lived in countries with excess water stress and the devastating impacts of climate change continued to be felt, especially by the most vulnerable countries. We cannot continue at the current pace, he stressed, adding that bold and ambitious action was needed, including action on financing.
All means of support for development must be encouraged and facilitated, he said. That included maximizing all the means of implementation, including trade, science, technology and innovation. The investment gap in developing countries alone was some $2.5 trillion per year for the major Sustainable Development Goals sectors, he said, continuing: But, we cannot aim to just throw money at the problem. Instead, we must have a strategic and targeted approach. Through the Forum, progress could be accessed, experiences could be shared and commitments could be translated into actionable ideas. He welcomed the increase in development financing flows in 2017 and noted the progress across all the Addis Action areas. Yet, that was only a glimmer of hope and efforts must be ramped up with a strong sense of urgency. The resources were available, but needed to be connected to the priorities. There were too many barriers blocking the flow of resources.
ANTA�NIO GUTERRES, Secretary-General of the United Nations, addressed the Forum via video message, stressing that the mobilization of financial resources would be crucial for achieving the Sustainable Development Goals, yet, overcoming the challenges of development financing could not be done in insolation. He urged all stakeholders to uphold their commitments on official development assistance (ODA), while stressing the need for a system of trade that was truly free and fair. At the same time, the international community must do much more to fight money-laundering, tax evasion and illicit financial flows. He went on to note that he would host a high-level meeting on finance and encouraged all to attend that event as part of their investment in sustainable and prosperous future for all.
AMINA MOHAMMED, Deputy Secretary-General of the United Nations, said that the global economy was strengthening, but significant weaknesses continued to thwart development efforts from remaining on track. Domestic resource mobilization, national implementation and ownership, as well as financing frameworks were needed to support the Sustainable Development Goals. The international community had to fight money-laundering and tax evasion. Development cooperation remained critical for supporting the Goals. A global environment supportive of long-term investment was also needed. Mechanisms had to be implemented to unlock the resources for countries with urgent needs, including for climate change adaptation. Achieving Goal 6, for instance, would require three times the amount spent, she said, stressing that investments must be scaled up in order to achieve all the Goals by the 2030 target date. Government and private sector partners had to facilitate investment for the 2030 Agenda. In September, a high-level meeting on finance would be held at the United Nations to help countries build the necessary capacities and help reposition the United Nations development system in line with the Secretary-General’s vision.
DONALD KABERUKA, High Representative, African Union Peace Fund, delivered a keynote address in which he stressed that it had been proven that when humanity came together, it could make a dream come true, as evidenced by the declining global poverty and infant mortality rates. He recalled that when the Millennium Development Goals were being adopted there was an assumption that the most important issue that needed to be addressed related to resource flows from the North to the South. The world was witnessing unprecedented progress in human history, he said, highlighting that with the adoption of the Sustainable Development Goals, it was no longer about the North or South, but rather about the multipolarity of resources. It was no longer about ODA, but about how countries could mobilize their own resources. It was also no longer about ODA flows, but rather about smart ODA, which flowed to where it was most needed, such as fragile States. Furthermore, it was about smart ODA that leveraged private capital, as well as addressing issues of de-risking.
For the world to vanquish poverty by 2030, leaders must first and foremost address issues of fragility, he said. It would not be possible to achieve the development goals unless the world dealt with the millions of people who lived in fragile situations. It was not about money, but rather about building institutions, giving the lead to the people living in those countries and creating conditions that would incentivize private investment. Domestic resources were easily the biggest source of money available for the achievement of the Sustainable Development Goals, yet would require the expansion of capacities and tax bases, as well as greater acceptance of the fact that illicit financial flows were a challenge that must be addressed.
He stressed that there must be greater equality and strength in the multilateral system. De-risking markets and ensuring the flow of private capital to where it was needed would require a number of steps, including an understanding that the forces driving protectionism, as well as the my country first and winner take all mentalities were adding to risk in capital flows. He emphasized that the Sustainable Development Goals would not be achieved by money alone, but rather would require the use of smart use of public capital, de-risking the flow of private capital and coherence in international institutions and the multilateral system. The purposes of the development goals were to ensure that every person had a job and a decent income and ensuring that the planet would be safe for future generations.
Special Address: Doha Messages
SULTAN BIN SAAD AL-MURAIKHI, Minister of State for Foreign Affairs of Qatar, said that the Addis Ababa Action Agenda was an important plan to support the implementation of the Sustainable Development Goals. A participatory approach was needed, while respecting human rights through cooperation in order to finance the 2030 Agenda. In view of global challenges, the 10 Doha Messages that came out of the preparatory meeting to the Forum reaffirmed the will of Member States to commit to the 2030 Agenda’s implementation and its financing. Qatar would continue to provide humanitarian relief and other aid to countries facing economic crisis and was committed to be an effective partner to the international community to achieve the 2030 Agenda.
Perspectives on Report of Inter-Agency Task Force on Financing for Development
LIU ZHENMIN, Under-Secretary-General for Economic and Social Affairs and Chair of the Inter-Agency Task Force on Financing for Development, introduced the Secretary-General’s note titled Financing for development: progress and prospects (document E/FFDF/2018/2), which highlighted the main findings of the 2018 report of the Inter-Agency Task Force on Financing for Development. He noted that the report highlighted that over the last year, the global economy had improved, providing positive momentum for change. Yet, the report also pointed out that global risk remained high, a number of factors could derail development progress, key Sustainable Development Goals priorities remained unfunded and many of the poorest countries risked being left behind. The report put forward a set of policy options that could close implementation gaps and put the world on a more sustainable growth path. Financial sector incentives needed to be oriented towards long-term issues and the Sustainable Development Goals, and policies, plans and programmes must be informed by integrated national financing strategies. Public, private and blended financing all contributed to funding Sustainable Development Goal investments, yet the needs of individual projects should determine which type of financing was appropriate.
ROBERTO AZEVASDO, Director-General of the World Trade Organization (WTO), said in a video message that the Forum was essential for everyone to have the necessary means to achieve the 2030 Agenda. Trade was an important partner and driver of development. With 1 billion people living in poverty, the international community had to ensure that trade would continue to play a positive role. Trade growth would continue to increase and could help improve the economy for all, although the spectrum of protectionism could have consequences on the efforts to achieve the Sustainable Development Goals. Continued cooperation between nations was needed and had already proven efficient for a robust and responsive system. The WTO had delivered impressive results with real effect in improving peoples’ lives, and had to continue on that track for food security, amongst many other issues, including the promotion of commerce and achieving gender equality. Global cooperation for development was crucial.
ACHIM STEINER, Administrator, United Nations Development Programme (UNDP), said that the discourse about financing seemed to be happening in different compartments. It was critical that existing analytical tools were translated into messages that reaffirmed citizens that leaders were in touch with their realities. Technological changes and policy shifts were increasing economic insecurities and risks. Those risks and concerns were being manifested into negative public perceptions due to things such as shifts towards automation and the digital economy. The public was grappling with a still unanswered question: Why are we losing so many jobs? The management of risks and volatility were two key issues that must be addressed. The alignment of sustainable finance and how to grow it was another issue that must be given priority if the Sustainable Development Goals were to be achieved, he said, noting that aligning finance with actual development priorities remained a challenge.
MUKHISA KITUYI, Secretary-General, United Nations Conference on Trade and Development (UNCTAD), said that the optimism of 2015 needed revamping. The rise of protectionism and growing paralysis in international trade cooperation were important challenges. Voices had to be raised to support cooperation for trade. Beyond trade rules, positive trends must be encouraged and supported, including in Africa. Trading partners for Africa had to support Pan African integration efforts. Enabling instruments had to be identified to bring new strength and energy, and to include women and youth as participants and beneficiaries of economic growth.
TAO ZHANG, Deputy Managing Director, International Monetary Fund (IMF), said that the global economy continued to show strength led by the advanced economies and many emerging markets, although the conditions in some emerging and developing markets were of concern, particularly with regard to commodity exports. Many low income and developing countries were accumulating more and more public debt, he said, stressing that in some of those countries, indebtedness was reaching troubling levels. The Fund was committed to working with all its partners to address all aspects of their debt management, including through diversification, strengthening the business environment and building human capital. All stakeholders must work together to mobilize financing that would ensure all countries made consistent progress and nobody was left behind.
MAHMOUD MOHIELDIN, Senior Vice-President for the 2030 Development Agenda, United Nations Relations and Partnerships, World Bank Group, said that ODA remained critical for development. A package had been agreed upon for $100 billion a year for the 2019 2020 fiscal year to benefit low income countries in partnership with the private sector. Beyond the financial achievement, it was a reminder of the great power of interconnectedness. Improvement for tax collection and public expenditure at national and local levels was critical. The Development Committee meeting held the week prior highlighted the danger of accumulation of public debt. The financial crisis of 2008 was a walk in the park compared to the debt crisis, he said, stressing that public debt had increased. Human capital also had to be taken seriously for the well-being of people.
SHAMSHAD AKHTAR, Executive Secretary, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), speaking on behalf of the five United Nations regional commissions, said that the broad-based economic upturn and sustained global growth the world was witnessing could enable the private sector to channel more of its resources to fund the 2030 Agenda investment requirements, although the pace of the Addis Action Agenda was falling substantially short of expectations. Sound macroeconomic management and economic stability remained prerequisites for mobilizing adequate financing for the Sustainable Development Goals. The challenge for fiscal policies was not only to generate tax revenues, but also to share the proceeds of growth more equitably. Despite grappling with many challenges, the pace of reforms within countries was relatively strong, although sustainable solutions to ensure access to finance, including for small businesses, continued to be lacking.
Ministerial Round Table 1
Moderated by Ms. Chatardova, the first ministerial round table included the following panellists: Neven Mimica, Commissioner, International Cooperation and Development, European Commission; Sahar Nasr, Minister for Investment and International Cooperation of Egypt; Mohamed Asim, Minister for Foreign Affairs of Maldives; Oleksandr Danyliuk, Minister for Finance of Ukraine; Karin Finkelston, Vice-President, Partnerships, Communications and Outreach, International Finance Corporation, WBG; Norbert Barthle, Parliamentary State Secretary to the Federal Minister for Economic Cooperation and Development of Germany; and Somchith Inthamith, Deputy Minister for Industry and Commerce of the Lao People’s Democratic Republic.
Lead discussants included Elissa Golberg, Assistant Deputy Minister, Strategic Policy, Global Affairs Canada; Pio Wennubst, Assistant Director General, Head of the Global Cooperation Department, Swiss Agency for Development and Cooperation; and Mpho Parks Tau, President, United Cities and Local Governments.
Mr. MIMICA said that the European Commission supported the creation of the new Joint Sustainable Development Goal Fund. Global growth had not necessarily improved the lives of the most vulnerable people. ODA had decreased, including from the European Union. Contributions from all sources had to be activated, including the private sector, and had to be targeted where it was needed the most. The European Union was committed to fighting tax evasion and to supporting ambitious standards on financing.
Ms. NASR said that mobilizing efforts was key to achieving the 2030 Agenda. Egypt was undergoing an ambitious reform to reach that goal. The population was young and growing and the priority was on entrepreneurship. Governance and transparency were key pillars of the reform programme, as was access to finance, including microfinance. Investing in people’s education was also important. Egypt was committed to moving forward with national reform and to ensuring that all parts of society would benefit from it.
Mr. ASIM, said that the benefits of last year’s upturn in global recovery had not been felt to the extent that was required to make a tangible difference in Maldives’ development goals. He remained concerned about the impact of unchecked growth. Inequalities between and within countries was among the biggest impediments to realizing the Sustainable Development Goals and ending poverty. The threat to free trade would have a spillover effect on the most vulnerable. The private sector would have to play an increasingly larger role to create transformative change and attract the amount of funding that was need.
Mr. DANYLIUK, said that Ukraine’s recent history proved the importance of reform, not only for the economy, but also for security. The economic loss due to the Russian Federation’s invasion was putting huge constraints on Ukraine’s ability to finance development. The country had to be reinvented to survive, grow and ensure sustainable development. A new infrastructure was put in place to fight corruption. A broad agenda for structural reforms was implemented for health care, education and more, taking the example of best practices of other countries. Midterm planning would ensure the reforms were carried out. The banking system was being reformed and trade was diversified, as the Russian Federation’s role as Ukraine’s main trading partner could not continue given the situation.
Ms. FINKELSTON said there was an ongoing effort under way to identify ways to use new resources to support the private sector’s role in development, especially in fragile and conflict-affected States. Countries’ ability to service their debt often left little money for development projects. It was imperative to look at ways to responsibly and transparently mobilize the private sector for solutions, in addition to money. The private sector should be encouraged to maximize innovation, technology and access to markets, and ultimately to create jobs for the citizens within countries. One of the most pressing questions to be addressed was how to de-risk markets through policy reform to allow the private sector to come in, although policy reform may not always be enough and blended finance tools may be required to mitigate risk. Her organization was also looking at tools that mobilized investment and could measure which private actors were actually investing in projects related to the Sustainable Development Goals.
Mr. BARTHLE said that the issue of how to finance sustainable development was of key importance for implementing the 2030 Agenda and the Paris Agreement on climate change. A particularly significant question was how to help developing countries channel investment towards sectors that were sustainable and of importance to national development. Structural reforms were needed, he stressed, including those that would help countries mitigate the damage caused by climate events and financial shocks. The creation of new partnerships that were cross cutting in nature was also of vital importance. Germany considered it essential to use ODA as a catalyst to promote private investment and mobilize domestic resources. His delegation hoped that, together with the high-level political forum, the common vision for financing for development could be further strengthened.
Mr. INTHAMITH emphasized that many developing countries faced emerging challenges in addressing issues of poverty due to limited financial resources that could only be alleviated through cooperative measures. He stressed that ODA should be maintained and called on all providers to fulfil their commitments in that regard. Further, help would be needed to help countries address their long term debt challenges. He highlighted that the Lao People’s Democratic Republic was posed to graduate from least developed country status for the first time in its history. That achievement was due to the country’s domestic policy reforms and efforts to strengthen bilateral and multilateral cooperation.
Ms. GOLBERG said that the Forum was a place for meaningful discussions among all partners. The importance of ODA, especially for fragile States, had been highlighted. New instruments had to be identified for bilateral donors. Strong evidence-based analysis was needed to use blended finance. The role of Government in reducing the risks for private investments was highlighted, to create an environment to enable and maximise finance for the development agenda. The work done by the Inter-Agency Task Force on Financing for Development was praised and Canada was ready to keep on reinforcing that effort.
Mr. WENNUBST said that water-related investments were one of the most challenging issue. High risk was still preventing investments. Modern data collection would allow investment to move faster in the financial sector, as would new technologies. Pension funds were considered slow movers and had to be part of the equation without distorting their nature.
Mr. PARKS TAU stated that current investment in support of the Sustainable Development Goals was insufficient to achieve them. Some structural changes were needed urgently and were presented in a paper prepared by the United Nations Department of Economic and Social Affairs with other partners. Collaboration between central Government and local authorities was key, especially for accountability and transparency. Investments needed to be more focused on urban areas and human settlements, including in the developing world.
The representative of El Salvador noted that the international community expected for developing countries to mobilize domestic funds through the broadening of the tax base, even though private companies, both national and non State, were not inclined to pay taxes. In addition, he spoke of the middle income trap, referring to the difficulty for middle-income countries, such as El Salvador, to achieve sustainable development without receiving ODA or concessional loans.
Ministerial Round Table 2
Moderated by Ms. Chatardova, the second ministerial round table included the following panellists: Bambang P.S. Brodjonegoro, Minister for National Development Planning of Indonesia; Khurelbaatar Chimed, Minister for Finance of Mongolia; Teresa Ribeiro, Secretary of State, Foreign Affairs and Cooperation of Portugal; Ulrika Modeer, State Secretary of Development Cooperation of Sweden; Liu Zhenmin, Under-Secretary-General for Economic and Social Affairs; and Mohammad Khazaee, Vice-Minister for Economic Affairs and Head of Organization for Investments and Economic Assistance of Iran.
Lead discussants included Kayula Siame, Permanent Secretary, Ministry of Commerce, Trade and Industry, Zambia; Sergio LondoAo Zurek, Director General of the Presidential Cooperation Agency and Acting Mayor of the City of Cartagena, Colombia; Remy Rioux, Chief Executive Officer, Agence Francaise de Developpement of France.
Mr. BRODJONEGORO said that economic growth played a prominent role in Indonesia’s development. The Government could play an active role in that process using policy as a key enabler. Indonesia was developing a one-stop service programme to ease the issuance of business permits. The country was developing a logistics facility and partnerships with the private sector to accelerate infrastructure development. Technology played an important role, as well. Indonesia had used free trade agreements to develop business partnerships. But, those efforts were not independent from global trends, including protectionism. Generosity and compassion were also important drivers to create impact.
Mr. CHIMED said that Mongolia was enjoying good economic growth between 2008 and 2012, helping to reduce the poverty rate. But, wrong economic choices followed and wrong economic policy was very costly, resulting a deterioration of living standards. Good governance was key. Bad policies were part of the past in Mongolia and the national debt was going down. Further decline in public debt was expected. Mongolia was on its way to becoming a middle-income country. More attention should be paid to tax-related issues.
Ms. RIBEIRO said that, despite an increase in financing for sustainable development, such financing remained insufficient and poverty was widespread in many parts of the world. Stakeholders were responding very positively to the challenge of implementing the 2030 Agenda. Capital increases approved by the World Bank Group during its spring meetings were excellent news and a strong political signal of the international community’s commitment to implement the Sustainable Development Goals. Smart taxation and smart ODA were enablers for sustainable development. Promoting innovation was important, as was modernizing public administration. Debt was an important problem when Governments had large financial needs to achieve the 2030 Agenda, she said.
Ms. MODA�ER said that the Sustainable Development Goals required immediate attention. Focus on the means of implementation was needed. Sustainable and sustained structures for development had to be developed in order to be less dependent on economic fluctuations. Partnerships were needed. Sweden had a positive experience with green funds. The Swedish steel industry was a good example of turning a polluting industry into a sustainable initiative, she said, using the Sustainable Development Goals as a guide.
Mr. ZHENMIN stressed that roadblocks to transformation must be addressed. The upturn in the economy allowed policy makers to address systemic challenges that impeded development. The ability to tax, build and trade were at the core of development. Effective mobilization and the use of domestic resources were critical for fuelling structural transformation. Domestic policies must go hand in hand with strengthened international tax cooperation. Inefficient and poor connectivity remained major obstacles to growth, he said, underscoring that traditional infrastructure sources could not meet the demand. Private investment could only flourish through sound policies and regulatory frameworks. No country could develop and poverty would not end without trade. New technologies provided space for Governments to take non-traditional routes for transforming their economies.
Mr. KHAZAEE said that financing for development should be focused on poverty eradication as an overarching goal and any financing should be aligned with national priorities and development strategies. For real development to take place there must be a broad-based upturn which could serve as a platform for further progress. There was a real concern that the world economy remained vulnerable. The world faced many challenges and risks that could hinder achievement of the Sustainable Development Goals. Economic and social development were the basis for disaster mitigation, conflict prevention and better cooperation between nations and Governments. Development could not take place without a revitalized and enhanced global partnership and ambitious means for implementation supported by policies outlined in the Addis Action Agenda.
Ms. SIAME said that the upturn in the economy had translated into an enabling environment for the 2030 Agenda. The Zambian Government had prioritized infrastructure development, including road construction, as an enabler for the achievement of the 2030 Agenda. A multisector integrated approach was being implemented. Recognizing the importance of a strong tax system, reforms were under way. For trade to be beneficial, measures that distorted trade had to be removed.
Mr. ZUREK said that an important peace process was under way in Colombia. True sustainable development was the way for real and lasting peace. Programmes were developed to implement the Sustainable Development Goals locally. National resources in Colombia would not be sufficient to achieve the agenda, but special initiatives would attract investments. The Government had also focused on tourism for areas that had suffered the most because of isolation. Foreign travellers were increasing in Colombia, tourism was the second-biggest generator of growth in the country. ODA had been essential for the country.
Mr. RIOUX stated that financing for development created links among all United Nations Member States. The agencies and ministries were activating their financing means more and more. Development banks were becoming more concessional. International institutions were growing closer to development banks and greater coherence between them was developing. Agence Francaise de Developpement was the platform for partnerships with France, bringing on board expertise. Half of the Agency’s work focused on Africa. European partners were more and more ambitious.
Source: United Nations