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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 Thursday, 29 January 2014
On its second day, the first drafting session of the outcome document of the third International Conference on Financing for Development considered domestic and international private finance; international public finance; trade; technology, capacity building and innovation; sovereign debt; and systemic issues.

On domestic and international private finance, developing countries cautioned against relying on the private sector completely, noting that the sector’s goals are not always aligned with poverty alleviation and sustainable development. Developed countries, meanwhile, emphasized a central role for private finance in the FfD3 process, calling it the principal creator of long-term jobs and promoter of sustainable development.

On international public finance, developed countries called for the discussion to include growing South-South cooperation and the role of emerging economies, and noted the need to include, not separate, climate benefits in the FfD3 discussions. Developing countries emphasized, among other things: the continued importance of ODA; the need to bring the discussion on aid effectiveness under the UN; and the additionality of climate finance. Some countries opposed re-visiting the definition of official development assistance (ODA) to include South-South cooperation.

Discussions on two items on the agenda were clumped together by the Co-Facilitators: trade; and technology, innovation and capacity building. Developing countries called for removal of trade distorting measures and greater market access; conclusion of the Doha round under the World Trade Organization; and the establishment of a technology facilitation mechanism. Developed countries viewed trade as an important element of “means of implementation” in the post-2015 framework, and urged going beyond technology transfer to include language on the role of Intellectual Property Rights, research and development, and domestic enabling environments.

During the final session for the day, sovereign debt and systemic issues were also discussed together. Developed countries called for: separating debt financing discussions under FfD3 from the UN debt restructuring discussions; debating sovereign debt under the auspices of the International Monetary Fund (IMF); sustainable lending and borrowing principles; and improved data transparency to enable citizens to hold their governments to account.

Developing countries, on the other hand, called for: the establishment of an international debt restructuring mechanism under the UN; sustained efforts towards debt management and relief, including for middle-income countries; and a greater role for the UN General Assembly (UNGA) and the Economic and Social Council (ECOSOC) in addressing systemic issues.
A view of the Trusteeship Council Chamber, with Henrik Starcke's sculpture symbolizing Mankind and Hope
A view of the Trusteeship Council Chamber, with Henrik Starcke's sculpture symbolizing Mankind and Hope
Dais Shot

A view of the dais during the morning session

Tarik Iziraren
Tarik Iziraren, Morocco, for the African Group
Andalib Elias
Andalib Elias, Bangladesh
John Hurley
John Hurley, United States
Song Lei
Song Lei, China
Jonathan Rothschild
Jonathan Rothschild, Canada
Yoon Sanguk
Yoon Sanguk, Republic of Korea
Sheldon Moulton
Sheldon Moulton, South Africa
Narayan Dhakal
Narayan Dhakal, Nepal
Rashid Salem Balhas Al Shamsi
Rashid Salem Balhas Al Shamsi, United Arab Emirates
Melissa Hippolyte
Melissa Hippolyte, Saint Lucia, for the Caribbean Community
Pablo Porras
Pablo Porras, Ecuador
Tamer Mostafa
Tamer Mostafa, Egypt
Christopher Dekki
Christopher Dekki, International Movement of Catholic Students
Oksana Melnikovich
Oksana Melnikovich, Belarus
Carol Guthrie
Carol Guthrie, Organisation for Economic Co-operation and Development
Participants during meeting

A view of participants during the meeting

Pálína Björk Matthíasdóttir
Pálína Björk Matthíasdóttir, Iceland
Gail Hurley
Gail Hurley, UN Development Programme
Gladys Ghartey
Gladys Ghartey, Ghana
John Egan
John Egan, New Zealand
Nelly Banaken
Nelly Banaken, Cameroon
Decima Corea
Decima Corea, Saint Vincent and the Grenadines, for the Caribbean Community
Bhumika Muchhala
Bhumika Muchhala, Third World Network
Sinead Clifford
Sinead Clifford, Australia
Staffan Tillander
Amb. Staffan Tillander, Sweden
Natalie Africa
Natalie Africa, United Nations Foundation
Paulo Elias De Moraes
Paulo Elias De Moraes, Brazil
Noel González Segura
Noel González Segura, Mexico
María Cristina Perceval
Amb. María Cristina Perceval, Argentina
Eric LeCompte
Eric LeCompte, Jubilee USA
Borg Tsien Tham
Borg Tsien Tham, Singapore
Delegates chatting
Delegates chatting during a break
Secretariat staff taking notes
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)
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

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