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Sustainable Development Policy & Practice

First Drafting Session of the Outcome Document of the Third International Conference on Financing for Development

28-30 January 2015 | UN Headquarters, New York, US

Daily Web Coverage
Highlights for Wednesday, 28 January 2014
FFD
Following a one-day delay caused by Snowstorm Juno, the first drafting session of the outcome document of the third International Conference on Financing for Development began at UN Headquarters in New York on Wednesday, 28 January 2015. For most of the day, delegates commented on an elements paper prepared by the Financing for Development Office (FfDO). In the afternoon, a discussion on domestic resource mobilization took place.

In his opening statement, Abraham Tekeste, State Minister of Finance and Economic Development, Ethiopia, highlighted 2015 as an important year for the fight against global poverty, and shared his country’s hope that FfD3 will serve as a platform for transformative investments in sustainable development. Ambassador George Wilfred Talbot (Guyana), Co-Facilitator, then introduced the elements paper, saying it calls for concrete and transformative policies to address financing challenges; and synergies between FfD3 and the post-2015 development process, including the Sustainable Development Goals (SDGs).

In the general discussion on the elements paper, many countries supported retaining the format of the Monterrey Consensus document and adding elements such as technology, capacity and innovation. Delegates highlighted the importance of ensuring consistency, and avoiding duplication with other processes. Japan and Singapore called for a joint session on FfD and post-2015 means of implementation in April 2015, to ensure consistency between the two processes.

Many developing countries stressed that South-South cooperation was not a substitute for North-South cooperation, calling for the outcome document to re-emphasize the 0.7% ODA commitment, and improve the quantity and quality of ODA. They also called for genuine international cooperation, and increased transparency in tracking the delivery of commitments.

Developed countries, meanwhile, called on the process to take into account the evolving global landscape, the role of good governance and an enabling environment, and the importance of domestic action.

Countries noted the need to democratize and reform the global financial architecture; improve capacity for tax management and combatting corruption in developing countries; and include a strong focus on gender.

In the discussion on domestic resource mobilization, developing countries emphasized, inter alia, an enabling multilateral trade environment to foster domestic public finance; strengthening national tax administration; encouraging the development of capital markets; reforming the international financial and monetary systems; taking measures to avoid spill-over effects of global financial crises to developing countries; and establishing an international tax body. Developed countries emphasized a focus on good governance to prevent revenue leakages through tax evasion and corruption; discouraging base erosion and profit shifting; wise spending; and capacity building to strengthen domestic resource mobilization.
A view of the Trusteeship Council Chamber during the meeting
A view of the Trusteeship Council Chamber during the meeting
Dais Shot

A view of the dais during the meeting

Geir Pedersen
Co-Facilitator Amb. Geir Pedersen, Norway
George Wilfred Talbot
Co-Facilitator Amb. George Wilfred Talbot, Guyana
Mahlatsi Mminele
Mahlatsi Mminele, South Africa, for the G-77/China
Abraham Tekeste
Abraham Tekeste, State Minister of Finance and Economic Development, Ethiopia
Gustavo Martin Prada, EU
Gustavo Martin Prada, EU
Robert Aisi
Amb. Robert Aisi, Papua New Guinea, for Pacific small island developing States
Courtenay Rattray
Amb. Courtenay Rattray, Jamaica, for the Caribbean Community
Jean-Francis Régis Zinsou
Amb. Jean-Francis Régis Zinsou, Benin, for the Least Developed Countries
Michael Gerber
Amb. Michael Gerber, Switzerland
Mwaba Patricia Kasese-Bota
Amb. Mwaba Patricia Kasese-Bota, Zambia, for the Landlocked Developing Countries
Jeffrey Salim Waheed
Jeffrey Salim Waheed, Maldives, for the Alliance of Small Island States
Alexia Latortue
Alexia Latortue, United States
Mustafizur Rahman
Mustafizur Rahman, Bangladesh
Violeta Fonseca
Violeta Fonseca, Venezuela
A view from the gallery during the meeting

A view from the gallery during the meeting

Palitha Kohona
Amb. Palitha Kohona, Sri Lanka
Salvador De Lara
Salvador De Lara, Mexico
Lidija Bubanja
Lidija Bubanja, Serbia
Jeanne D'arc Byaje
Jeanne D'arc Byaje, Rwanda
Barbara Hendrie
Barbara Hendrie, United Kingdom
Dewo Broto Joko Putranto
Dewo Broto Joko Putranto, Indonesia
Tomás Pico
Tomás Pico, Argentina
Harinder Sidhu
Harinder Sidhu, Australia
Takeshi Osuga
Takeshi Osuga, Japan
Louise Kantrow
Louise Kantrow, International Chamber of Commerce
Fernando Carrera Castro
Amb. Fernando Carrera Castro, Guatemala
Lilian Cardoza
Lilian Cardoza, El Salvador
Stephan Klaus Ohme
Stephan Klaus Ohme, Germany
Carolina Zuluaga
Carolina Zuluaga, Colombia
Sergey Vasiliev
Sergey Vasiliev, Russian Federation
Barbara Samuels
Barbara Samuels, Global Clearinghouse for Development Finance
Mauricio Favero
Mauricio Favero, Brazil
Lopeti Senituli
Lopeti Senituli, Tonga
Delegates with documents
Delegates reviewed documents before the session.
Gallery floor laptops
Observers used their laptops on the gallery floor.
Daily Web Coverage

Funding for coverage of the 1st Drafting Session of the Outcome Document of the
3rd International Conference on Financing for Development (FfD3) has been provided by the European Union (EU)
EU
Related Links
Session Resources

* Meeting Website

* Summary of the Preparatory Process for the Third International Conference on Financing for Development, Second round of Substantive Informal Sessions, 9–12 December 2014

* Overview of the International Conference on Financing for Development Process

* History of the Financing for Development Process

* Report of the Intergovernmental Committee of Experts on Sustainable Development Financing


IISD RS Resources

* Earth Negotiations Bulletin coverage of all thirteen meetings of the UN General Assembly Open Working Group (OWG) on Sustainable Development Goals (SDGs)

* SDG - A Mailing List for News on Sustainable Development Policy

* Sustainable Development Policy & Practice - A Knowledgebase of International Activities Preparing for the UN Conference on Sustainable Development

bullet Linkages Update - Bi-weekly International Environment and Sustainable Development News
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