ECOSOC, BWIs Discuss Coordination to Advance Post-2015 Agenda

ECOSOC22 April 2013: A high-level meeting on "Coherence, coordination and cooperation in the context of financing for development and the post-2015 development agenda" brought together the Economic and Social Council (ECOSOC), the World Bank, the International Monetary Fund (IMF), the World Trade Organization (WTO) and the UN Conference on Trade and Development (UNCTAD) to discuss the global economic and financial crisis and its impact on financing for development.

During the event at UN Headquarters, UN Deputy Secretary-General Jan Eliasson highlighted the value of partnerships between governments and communities to advance sanitation and other needs. He referenced the potential of private and philanthropic contributions, Official Development Assistance (ODA), and previous financing commitments to make further progress on the Millennium Development Goals  (MDGs) and in the post-2015 development agenda. Nestor Osorio, ECOSOC President and moderator of the event, called for an increase of resources to 0.7% of national income, an increase from the current 0.3%.

The day's high-level discussions focused on the following themes: "World economic situation and prospects in the wake of the world financial and economic crisis;" “Financing for sustainable development, including leveraging of private capital, in the context of the follow-up to the outcome of the Rio+20 Conference;" and “Global partnership for development in the context of post-2015 development agenda."

Commodore Josaia Voreqe Bainimarama, Prime Minister of Fiji, spoke of creating a new international financial architecture that gives developing countries a constructive role in the development agenda, and stressed the need for adequate development support. Olli Rehn, Vice-President of the European Commission and Commissioner for Economic and Monetary Affairs and the Euro, EU, stated Europe's ambition to "create conditions for sustainable growth," while preparing a post-2015 development agenda that links to sustainable development.

Speaking on investment policy, James Zhan, UNCTAD, called for mainstreaming sustainable development into national and international investment regimes. An IMF representative discussed its efforts to support low-income countries, noting the contributions of the Climate Change Fund.

Speakers stressed the importance of scaling up investments to finance the post-2015 development agenda and a global transition to a low-carbon society. The event also recognized the importance of fostering public-private partnerships and participation of stakeholders to increase resources and commitment to a climate-resilient society. [Event Program] [Event Description] [List of Participants] [DPI Meeting Summary] [UN Press Release] [Statement of DSG] [Publication: Summary by the President of the Economic and Social Council]