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International Conference on Financing for Development

New York, USA; 15 - 19 October 2001


Daily coverage (images and RealAudio)  |Mon 15 | Tue 16  | Wed 17 | Thu 18 | Fri 19 |


Lennart Båge

Wednesday, 17 October 2001
Delegates gathered for the fifth and sixth sessions of the resumed Third PrepCom. In the morning, delegates met in Plenary for a presentation and then continued with informal consultations throughout the day on the Draft Outcome’s first and second sections.

At 10:20 am, Co-Chair Jacoby convened the PrepCom and introduced Lennart Båge, President of the International Fund for Agricultural Development, who spoke on behalf of the World Food Programme and the Food and Agriculture Organization. He underscored the significant drop in ODA, and said that without the mobilization of new resources, the agencies’ quest for a world free of poverty and hunger is unattainable. He called the Draft Outcome not “sufficiently specific” in mobilizing resources for food security, poverty reduction and sustainable development

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Henri Raubenheimer

In discussions on section one (globalization) and the first chapter of section two (domestic resources), Henri Raubenheimer, South Africa, specified more emphasis on multilateralism, international partnerships and the issue of capital flight, and proposed adding transparency and predictability to the global governance principles in paragraph four. On financing and conditionalities, he stressed adjusting goals and standards to national conditions

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South Africa called for improving policy and regulation networks to facilitate private sector decisions related to FDI

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Richard Terell Miller, US dismissed key parts of the text as “woefully inadequate” and rejected it as a basis for discussion. He said that globalization is a fragile process that depends on continuous will and that one cannot enjoy its benefits without paying costs. He rejected numerous references in the text, including, inter alia, notions of inequitable globalization, increasing polarization, asymmetries in the system, international responsibilities for development, and global economic and social governance. He stressed that the goal of this process is not to strengthen multilateralism but to stimulate national actions in meeting country responsibilities. Noting that the market should determine investment flows, he objected to notions of a government role in income distribution and providing credit for all. He said opportunities for country participation in decision-making are adequate

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Vijaya Thakur Singh, India, suggested clarification on global public goods (GPGs) and taking into account different development needs

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Vijaya Thakur Singh

Jana Simonová

Jana Simonová, Czech Republic,  called for clarification on country responsibilities for resource mobilization, and proposed elaboration of: specific nationally-driven poverty reduction goals and development strategies; linkages among economic, social, fiscal and trade policies; and coordination and partnerships at the national level

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Eduardo Galvez, Chile, underscored the importance of equity in development

Eduardo Galvez

Frédéric Renard

The EU suggested separating principles from concrete initiatives. Boosting entrepreneurship is paramount, he said, but the text should have a pro-poor orientation and consider rights in the workplace. In paragraph 12, he said a true partnership encompassing all aspects of development and financing had to be more than just a bargain of certain policies in exchange for ODA

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Edouard Aho-Glele, Benin, proposed that the FfD form a “mechanism” for mobilizing resources for LDCs

Edouard Aho-Glele

Rhoda Jackson

Rhoda Jackson, Bahamas, on behalf of CARICOM, said that FDI is concentrated in a small number of countries and that creating enabling environments is necessary but not sufficient for ensuring FDI. She called for creating more investment agreements, arrangements for smaller economies, and government offices to facilitate investment
Eddy Lee, ILO, highlighted sound industrial relations that respect human rights, raise productivity and reduce poverty, and supported references to social security, pension schemes and workers’ rights

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Eddy Lee

Karl Sauvant, The UN Conference on Trade and Development (UNCTAD), proposed the UN create an ongoing forum to discuss FDI flows to developing countries, examine obstacles and best practices and minimize negative impacts

Karl Sauvant

Eduardo Doryan, Special Representative, The World Bank

The World Bank proposed discussion to clarify the role of private capital flows, and stressed the necessity of a good climate to attract FDI. At the national level, he encouraged �bridge-building� to help lubricate private capital and advocated investments �at home� that contribute to growth in a socially meaningful way

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Tetyana Anischuk


Tetyana Anischuk, Ukraine,addressed FDI in facilitating transitions to a market economy and called for a separate paragraph reflecting the specific needs of countries in transition

Discussion of the Global Campaign on Overseas Development Assistance (OEA)

Louise Hilditch, Action Aid (left) with Jeff Laurenti, UN Association of the USA

Caucus on Race, Poverty and Globalization

Anita Nayar (center) with fellow participants


R�gis Avanthay

R�gis Avanthay, Switzerland, identified section two as a crucial pillar of the FfD process, and in paragraph 8 proposed, inter alia: adding reference to medium-term frameworks, strengthening budget management capabilities and tax structure simplification; and including language on investment in infrastructure

Switzerland supported public-private partnerships to boost technology transfer and competition, and said ODA should serve as �leverage� complementing other financial flows

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Mario Rietti, Honduras, advocated linking the FfD process to the World Summit on Sustainable Development, proposed inviting regional development bank representatives to participate in the Conference, supported incentives for sustainable financial reform, and stressed transparency and ethics

Mario Rietti

The Panel with the two Co-Chairs in the foreground

Erwin Ortiz, Bolivia, said that implementation requires follow-up to the Conference and called for a political statement that defines such machinery

Erwin Ortiz


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