World Video | Defence | Foreign Affairs | Natural Events | Trade | NZ in World News | NZ National News Video | NZ Regional News | Search

 


UN Officials Seek Financing Of Sustainable Developement

At High-Level Forum, Un Officials Urge Steps To Ensure Financing Of Sustainable Development

New York, Apr 14 2014 6:00PM

Even with a slow recovery from the economic and financial crisis under way, severe effects of the upheaval linger and serious risks remain, United Nations Deputy Secretary-General Jan Eliasson warned a high-level gathering of global finance institutions today, urging measures to channel financial investment into vital areas that can help secure sustainable development for all.

“Placing our world on a sustainable path needs to be infused with a new global partnership for development. This partnership must be based on equity, cooperation and accountability. It must aim for transformative change,” Mr. Eliasson said, opening the Economic and Social Council’s annual Spring Meeting with the Bretton Woods institutions and UN agencies.

Along with ECOSOC President Martin Sajdik, the meeting featured presentations by high-level officials from the World Bank, the International Monetary Fund (IMF), the World Trade Organization (WTO) and the UN Conference on Trade and Development (UNCTAD).

Delivering remarks on behalf of the Secretary-General, Mr. Eliasson said that in the wake of the 2009 crisis growth remains insufficient and the employment situation is dire in many countries. Inequalities are growing. The world’s wealthiest 85 people have as much wealth as the poorest half of our planet’s population.

While this year marks the 70th anniversary of the Bretton Woods institutions and the 50th anniversary of UNCTAD, the world continues to wrestle with many of the challenges they were set up to address, he noted.

“Bold leadership is indeed needed for strengthened multilateralism,” he said of the major development financing bodies, adding that macro-economic policies must focus on a strong, balanced and sustainable recovery, with particular emphasis on jobs.

“Our task ahead is two-fold. We must ensure that hard-won development gains are preserved…and as we now look beyond the Millennium Development Goals (MDGs), our agenda for post-2015 should be ambitious, inclusive and focused on the concrete challenges for us and for future generations, as well as on strong institutions to meet these challenges.”

Mr. Eliasson said the role of ECOSOC and the organizations represented at the Meeting is crucial. “You can channel financing for critical long-term investments, such as infrastructure. You have the capacity to act counter-cyclically, contributing to greater stability in the financial system,” he said, adding: “Your institutions can wield vast influence in the success of the climate and post-2015 development agendas.”

Echoing that sentiment, Mr. Sajdik said the success of the new development agenda depends on a strong global economy. Achieving a stable and equitable economic growth will in turn require greater cooperation and coherence in macroeconomic policies.

This is why “Coherence, coordination and cooperation in the context of financing for sustainable development and the post-2015 development agenda” was chosen as the theme of this year’s two-day Meeting.

“The post-2015 development agenda will require a comprehensive financing framework that ensures the mobilization of financial resources and their effective use for sustainable development,” he said, adding: “We need a comprehensive strategy that incorporates all forms of financing, including public and private, domestic and international.”

Also addressing the Meeting, Jorge Familiar Calderon, Acting Executive Secretary of the World Bank Development Committee, reported on the body’s annual session last week in Washington, D.C., where, he said, the Committee’s Governors recognized that policy adjustments and appropriate coordination and communication will be required to fostering strong, inclusive and sustainable growth in today's interconnected global economy.

As such, the Committee encouraged the World Bank Group (WBG) and the IMF to work jointly and with all member countries in pursuing sound and responsive economic policies; addressing underlying macroeconomic vulnerabilities; rebuilding macroeconomic buffers; and strengthening prudential management of the financial system.

ENDS

© Scoop Media

 
 
 
 
 
World Headlines

 

Ban Condemns Killing Of Former Lesotho Military Commander

United Nations Secretary-General today condemned the killing of Lt. Gen. Maaparankoe Mahao, former Commander of the Lesotho Defence Force, on 25 June, near Maseru. More>>

Ban Welcomes US Supreme Court Ruling On Same-Sex Marriage

Ban welcomes US Supreme Court ruling guaranteeing right to same-sex marriage Lesbian, Gay, Bisexual, Transgender and Intersex (LGBTI) pride march. Photo: OHCHR/Joseph Smida More>>

UN Agency Welcomes EU Measures On Refugee Arrivals

Afghan refugees in front of the abandoned hotel Captain Elias on Kos Island, Greece, where hundreds of refugees and migrants are waiting for their registration. Photo: UNHCR/J. Akkash More>>

Increase In Voluntary Blood Donors Can Save Millions Of Lives

Increase in voluntary blood donors can save millions of lives, UN health agency says on World Day More>>

Kenya: Funding Shortage Means Food Cut To 500,000 Refugees

Funding shortage forces UN agency to temporarily cut food aid to 500,000 refugees in Kenya More>>

UN Launches Education Appeal In Fight Against Child Labour

12 June 2015 – The United Nations has announced it is marking the 2015 edition of the World Day Against Child Labour with a call for the international community to invest in quality education as a key step in the fight against child employment ... More>>

Pope Francis & UN Agency On Sustainability Of Agriculture

Pope Francis (centre) with delegates to the 39th FAO Conference during a special audience at the Vatican. Photo: FAO More>>

South Sudan: Call For De-Escalation Of In-Country Conflict

Women and children have suffered devastating attacks in South Sudan’s Unity State. Photo: UNICEF/South Sudan/Sebastian Rich More>>

Burundi: Emergency Support To Refugees Fleeing Burundi Crisis

Burundians fleeing pre-election violence rest on the shores of Lake Tanganyika in the Democratic Republic of Congo after a gruelling 22-hour boat journey. More than 100,000 Burundians have fled over the past month, arriving in Tanzania, Rwanda and ... More>>

Afghanistan: Commitment To Advancing Women's Rights

While the outgoing senior United Nations rights official in Afghanistan said she expected the human rights advances made “will be sustained, will not be rolled back, and will not be sacrificed,” she lamented the high level of violence against ... More>>

Get More From Scoop

 
 
 
 
 
World
Search Scoop  
 
 
Powered by Vodafone
NZ independent news