The second Drafting Session on the Outcome document of the third International Conference on Financing for Development (FfD3) opened today at UN Headquarters, New York. Through this week, delegates will discuss a zero draft of the outcome document for the FfD3 conference, to be held in Addis Ababa, Ethiopia, from 13-16 July 2015.
In the morning of the first day, delegates expressed general views on the zero draft, and commented on the domestic public finance section of the outcome document. The Co-Facilitators noted the need for additional meetings, including intersessional consultations in May, to discuss the outcome document.
Developing countries called for greater clarity on the negotiating process for the FfD3 outcome document; a country-driven process; an urgent assessment of the current official development assistance (ODA) deficit, with unfulfilled ODA commitments carried forward; greater clarity on goals; and synergies with other processes, including the post-2015 process, but without precluding discussions on means of implementation (MOI) under the post-2015 agenda.
Developed countries called for a universal agenda reflecting a global partnership for sustainable development on the basis of shared responsibility; a focus on domestic enabling policy and regulatory environments; a more balanced monitoring and review framework that includes both financial and non-financial commitments; and for the FfD3 outcome document to form the main pillar for addressing MOI for the Sustainable Development Goals (SDGs).
In the afternoon, the section on domestic public finance was discussed. Developing countries supported, among other things: maintaining the Monterrey Consensus structure in the outcome document; and upgrading the UN Committee of Experts on International Cooperation in Tax Matters to an intergovernmental committee. Many developed countries supported, inter alia, natural capital accounting; sustainable public procurement; stronger language on anti-corruption and effective management of public spending; and automatic exchanges of tax information. They were opposed to upgrading the UN Committee of Experts on International Cooperation in Tax Matters.
The discussion on domestic public finance will continue on Tuesday morning.