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Finance & Innovation

Finance our future and make sure these commitments are in the Third Financing for Development outcome document

This September, world leaders will come together to unveil global goals that will shape the framework of development and poverty eradication for the next 15 years. A precursor to this historic event is the Third Conference on Financing for Development, to be held in Addis Ababa, Ethiopia, in July.

This summit is not simply about monetary contributions for development but about rethinking effective international collaboration, proper allocation of resources, and structuring societies to maximize human potential.

The conference in Addis Ababa is the moment where public-private cooperation can produce tangible commitments to promote shared prosperity and holistic, forward-thinking development. Taking collective action on political and financial solutions will ensure September’s Sustainable Development Goals succeed in eradicating extreme poverty, limiting climate change, and reducing inequality.

It is time for negotiators and policy makers to step up and fully engage in this process that will shape the futures of our people and planet for generations to come. The first step is to negotiate an outcome document with a bold packing to realizing the Sustainable Development Goals (SDGs).

Without concrete outcomes in this document, political leadership and financial resources will likely be insufficient to produce the necessary impact on a global scale.

As key decision makers, you have the power to prioritize outcomes that will produce significant economic, financial, and social returns that everyone can benefit from. You have the power to support the basic needs of all people so that they may lead healthy, dignified lives. In doing so, you will help create a world our children will be proud to inherit.

We are asking you include in the Third Financing for Development outcome document solutions that:

1) Boost developing countries’ public revenues for poverty reduction through improved domestic governance, regulatory bodies, and cost-effective policy changes.

2) Tackle corporate tax avoidance and clamp down on corruption and illicit financial flows to increase resources for social services.

3) Allocate 50% of development assistance to LDCs by 2020, and DAC countries must set timetables immediately to meet the target of 0.7% ODA/GNI – ideally by 2020 – and all partners must implement agreed development effectiveness principles.

4) Boost productive capacity, particularly on agricultural development, and increase responsible investment in infrastructure and energy.