GFDD submits written statement during Special High Level Meeting of ECOSOC with Bretton Woods Institutions

On April 15, 2014, GFDD participated in the Special High-Level Meeting of the Economic and Social Council with the Bretton Woods Institutions. The objective of the high-level meeting was to assemble representatives of Member States, The World Bank, the International Monetary Fund (IMF), The World Trade Organization (WTO), the United Nations Conference on Trade and Development (UNCTAD) and civil society organizations to discuss the theme of this year’s meeting,
namely “coherence, coordination and cooperation in the context of financing for sustainable development and the post-2015 development agenda”.

Looking to share its perspectives on the issues of financing for sustainable development and partnerships for sustainable development within the post 2015 agenda (the Development Agenda), GFDD submitted a written statement to ECOSOC during the meeting (a copy of this statement is available for download here).

Calling for the logic of close cooperation between multiple stakeholders to be applied throughout the Development Agenda, GFDD demanded a new outlook on development finance that ensures we do not limit access to financing for sustainable development to the public sector
but also extend it to the private sector. In making this demand however, the foundation reminded attendees that this would require more efficient financial supervision as well as a more robust and accountable corporate governance system to help prevent illicit financial flows.

Turning to the issue of partnerships for sustainable development within the Development Agenda, GFDD recognized that partnerships between corporations and small businesses could be mutually
beneficial. Highlighting the important role of small businesses as a continuing source of dynamism for a nation’s economy, the foundation called for a local development paradigm that would:

• Strengthen local productivity and communities’ social fabric;
• Offer reliable education and professional development on a local level; and
• Ultimately promote programs within both the public
  and the private sector that work towards social inclusion.

Concluding its statement, GFDD highlighted that this model local development paradigm, together with the new financial framework it had called for, should appear as a priority in the Development Agenda as without them, food security, poverty eradication and environmental sustainability will remain unattainable development objectives.

Related
Links:
http://www.un.org/en/ecosoc/
http://www.worldbank.org
http://www.imf.org
http://www.wto.org/
http://unctad.org/en/Pages/Home.aspx