• Mission Statement

    The NGO Committee on Financing for Development at the United Nations advocates for a worldwide economy that is environmentally and socially sustainable, ethical, and people-centered.

    Guided by the 2002 Monterrey Consensus, we urge policymakers to support development strategies that end global poverty and advance human rights. We seek international financial systems that are fair and truly representative of all people. We are motivated by the moral imperatives underlying the United Nations Charter and the missions of the organizations we represent.

  • Membership Benefits

    Network and dialogue at the UN with those working on for Financing for Development (FfD) issues and collaborate with global network of FfD organizations.

    Participate in monthly meetings featuring regular briefings from the UN FfD Office and distinguished guest speakers from the UN Community.

    Voice concerns on FfD issues to the UN through written and oral statements prepared within the Committee.

    Receive notices of meetings and conferences on FfD issues sponsored by the UN or NGO Committee, including high-level meetings with Bretton Woods institutions (World Bank, International Monetary Fund, World Trade Organization).

    (Go to www.ngosonffd.org for FfD resources and committee membership form)

FFD3 AT ADDIS ABABA, DAY 6:WAITING FOR THE FINAL DOCUMENT

Sebastien Nkoa


By Sébastien Nkoa Ayissi, OP, Cameroonian economist, banker, and student of Theology at the Catholic University of East Africa in Nairobi, Kenya, and SNDatUN delegate to the Third International Conference on Financing for Development

Wednesday here in Addis Ababa could have been called the longest day indeed. Many delegates not only of CSOs but of all delegations were all ears turned towards the plenary where the final text was still negotiated. The fact that until evening nothing has been issued showed that tractatus were still going on in the corridors about some paragraphs of the final draft. At this point indeed most of the time G77 and other developed countries don’t agree on some point (s) of the document to be released as final one. This point was already clear during the CSOs briefing session that a kind of “imposition” was being put on LDCs in order to accept the text the way it is at this stage, yet LDCs (Less Developed Countries) LLDCs (Land Locked Developing Countries) and SIDSs (Small Island Developing States) which made already a lot of concessions in the documents as it is now want some points to be clarified, in particular the question of tax and IFF (Illicit Financial Flows).

While waiting for the final document I took opportunity to tour around attending side events that presented a particular interest for me. The first one I attended was entitled: Building Bankability-How PPPs can help leverage billions to trillions held at Elilly hotel Addis Ababa. What came up from all this is that PPPs are seen differently according to the point where someone stands. On one hand the World Bank (WB) speaker made it clear that on their point of view PPPs are the way to go is the objectives of FfD want to be achieved. For him any other alternative might lead to the goal yet the PPPs do it in better way and that is why they are a focus point on the document. On the other hand the former minister of economy of Morocco showed that PPPs though they are good present risks. Indeed his municipality had a good PPP in the sector of public transport and sanitation; though these were benefiting both their partner and the municipality, the partner decided to withdraw when the world financial crisis broke in 2007-08. The saddest part of this fact is that Morocco was not that much affected by that crisis even more the sector of transport and sanitation. That unilateral decision of withdrawal forced their municipality to partner with commercial banks in order to carry on their duty and they are now having a deficit of 700%. What he proposed is that PPPs should be oriented in “human investment” and “capacity building” so that local people can continue to carry on the sector even when partners are no longer there.

The conclusion of the Moroccan speaker was a clear sign that new forms of financing should be found and at that point I found it interesting to have a look at what Innovative Financing in the Post 2015 Sustainable Development Agenda held at Radison Blu hotel Addis Ababa could propose. The outcome of this side event showed that people should come together in order to work hand in hand in order to eradicate poverty. Chile as chair of the leading group on innovative financing welcomed any other country to join them in that new form which is really made for the purpose of achieving FfD goals. Innovative finance is particular in this that it proposes forms of raising funds for development aid through micro contributions at various levels like taxes PPPs. Some of the UN departments use that mechanism to raise funds that are oriented toward developing countries.

If as innovative finance says new ways of funding are required to achieve FfD goals, what can be the role of private sector? In order to have a clear idea on that I decided to come back to Elilly hotel where another side event on Can Private Sector Really Deliver Financing for Sustainable Development? Here it was clear that private sector can invest only in sector that are profitable for them. Though some initiatives are praised here and there the broad reality is that private sector initiative can contribute to create greater gap between rich and poor. There is an urgent need of international regulation and framework in order to know what exactly goes on in the area of private sector implication in the eradication of poverty. This will help to really address the problems at the root and by that really eradicate poverty.

By evening everybody was still waiting for the final document to be issued. Heads of State and governments main committee was convened for a meeting at 18:30. Let us hope for the best since time is now running out and as expressed by most of the delegates nobody wants the matter to be taken to the General Assembly in September where any single vote “NO” will break the whole process and document. An agreement should be found here in Addis which respects the spirit and vision of FfD.

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