Major Changes Needed for Financing Development Post-2015

Global Foundation for Democracy and Development, in collaboration with the UN Association of the United States of America Council of Organizations (UNA-USA COO), convened a panel of speakers at the UN Church Center on December 18, 2014 to celebrate the 70th Anniversary of the United Nations (UN). The panel discussion was entitled "Financing for Development Post-2015: The Growing Importance of Multi-Stakeholder Partnerships for Developing
Countries" and included interventions by Gail Hurley, Policy Specialist on Development Finance at UNDP and Gabriel Ferrero, Policy Advisor in the Post-2015 Development Planning Team of the Executive Office of the UN Secretary General.

The speakers discussed the layout of the new financing landscape of the Post 2015 development agenda that will result from the adoption of the Sustainable Development Goals in September of next year. The event took place before an audience of NGO representatives and UN Agency staff.

Marc Jourdan, GFDD’s UN Representative, provided the words of welcome, emphasizing the importance of the innovative
financing proposals set out in the recent report of the Intergovernmental Committee of Experts on Sustainable Development Financing, pointing in particular to the value of merged financing and public private partnerships for the success of the new development agenda. Before handing over to the other speakers he noted that the involvement of the private sector in development issues should be allowed “provided we implement the correct regulatory and institutional frameworks to
accommodate these new funding strategies”. 

Ms. Hurley gave an overview of the Financing for Development agenda and pointed to the upcoming goals of the 3rd International Conference on Financing for Development, explaining that there will be strong political commitment to the Sustainable Development Goals. Looking to the future she noted that "in 2030, more of the world”s global savings with be found in the developing world." Indeed, she
stressed that "private funds can be used intelligently to unlock funds in low income countries but they are not the panacea – we also need regulation in developing countries to ensure funds are not misappropriated."

Mr. Ferrero turned to the recent release of the UN Secretary General’s Report on the Post-2015 Agenda, commenting that it “provides a new outlook on public private partnerships calling for them to be responsible and
people centered – thereby adding a clear social development perspective to the involvement of the private sector." He confirmed that "these public private partnerships are key to unlock trillions of investment needed to fulfill the Sustainable Development Goals."

About the Post 2015 Development Agenda:
One of the main outcomes of the United Nations’ Rio+20 Conference on Sustainable Development (June 2012)
was the agreement by member States to launch a process to develop a set of SDGs, which will build upon the Millennium Development Goals and converge with the post 2015 development agenda. To find out more about the agenda please click here.

To read the report of the Report of the Intergovernmental Committee of Experts on
Sustainable Development Financing please
click here.

Related links:

• Third International Conference on Financing for Development
• Open Working Group on
  Sustainable Development Goals
• Council of Organizations
• The Road to Dignity by 2030: Ending Poverty, Transforming All Lives and Protecting the Planet