Follow-Up to and Implementation of the Monterrey Consensus and the Outcome of the 2008 Review Conference (Doha Declaration on Financing for Development)

A/RES/64/193View PDF

Who created this mandate?

A Resolution of the General Assembly, under agenda item 52Follow-up to and implementation of the outcome of the 2002 International Conference on Financing for Development and the 2008 Review Conference, published in 2009.

Which reports were submitted under this mandate?

1 report of the Secretary-General submitted under this mandate, 2010.

2010A/65/293Follow-up to and implementation of the Monterrey Consensus and Doha Declaration on Financing for Development report of the Secretary-General

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What does this mandate say?

24 operative paragraphs

Welcomes the holding in Doha of the Follow-up International Conference on Financing for Development to Review the Implementation of the Monterrey Consensus, which provided an opportunity to assess progress made, reaffirm goals and commitments, share best practices and lessons learned and identify obstacles and constraints encountered, actions and initiatives to overcome them and important measures for further implementation, as well as new challenges and emerging issues, in the financing for development process;

Stresses that each country has primary responsibility for its own economic and social development and that the role of national policies, domestic resources and development strategies cannot be overemphasized, and reaffirms the importance of:

The implementation of the commitment to sound policies, good governance at all levels and the rule of law;

The implementation of the commitment to creating an enabling environment for mobilizing domestic resources and of sound economic policies;

The implementation of the commitment to enhancing the coherence and consistency of international monetary, financial and trading systems in order to complement national development efforts;

Recognizes that a dynamic, inclusive, well-functioning and socially responsible private sector is a valuable instrument for generating economic growth and reducing poverty, emphasizes the need to pursue appropriate policy and regulatory frameworks at national levels and in a manner consistent with national laws through which to encourage public and private initiatives, including at the local level, and to foster a dynamic and well-functioning business sector, while improving income growth and distribution, raising productivity, empowering women and protecting labour rights and the environment, and reiterates the importance of ensuring that the benefits of growth reach all people by empowering individuals and communities;

Reiterates the importance of investment in human capital, inter alia, in health and education, through inclusive social policies, in accordance with national strategies and priorities;

Recalls that the ongoing fight against corruption at all levels is a priority, and reaffirms the need to take urgent and decisive steps to continue to combat corruption in all of its manifestations in order to reduce obstacles to effective resource mobilization and allocation and prevent the diversion of resources away from activities that are vital for development, also recalls that this requires strong institutions at all levels, including, in particular, effective legal and judicial systems and enhanced transparency, recognizes the efforts and achievements of developing countries in this regard, takes note of the increased commitment of States that have already ratified or acceded to the United Nations Convention against Corruption, and in this regard urges all States that have not yet done so to consider ratifying or acceding to the Convention;

Also recalls the resolve of Member States to continue to undertake fiscal reforms, including tax reform, which is key to enhancing macroeconomic policies and mobilizing domestic public resources, further recalls that, while each country is responsible for its tax system, it is important to provide support to national efforts in those areas by strengthening technical assistance and enhancing international cooperation and participation in addressing international tax matters, including in the area of double taxation, and stresses that inclusive and cooperative frameworks should ensure the involvement and equal treatment of all jurisdictions;

Notes that, while foreign direct investment is a major source of financing for development, the flow of such funds to developing countries and countries with economies in transition has fallen rapidly during the crisis and remains uneven, and in this regard calls upon developed countries to continue to devise source-country measures to encourage and facilitate the flow of foreign direct investment, inter alia, through the provision of export credits and other lending instruments, risk guarantees and business development services calls upon developing countries and countries with economies in transition to continue their efforts to create a conducive domestic environment for attracting investments by, inter alia, achieving a transparent, stable and predictable investment climate with proper contract enforcement and respect for property rights; and stresses the importance of enhancing efforts to mobilize investment from all sources in human resources and physical, environmental, institutional and social infrastructure;

Reaffirms that international trade is an engine for development and sustained economic growth and the critical role that a universal, rule-based, open, non-discriminatory and equitable multilateral trading system, as well as meaningful trade liberalization, can play in stimulating economic growth and development worldwide, thereby benefiting all countries at all stages of development;

Stresses the essential role that official development assistance plays in complementing, leveraging and sustaining financing for development in developing countries and in facilitating the achievement of development objectives, including the internationally agreed development goals, in particular the Millennium Development Goals, reiterates that official development assistance can play a catalytic role in assisting developing countries in removing constraints on sustained, inclusive and equitable growth by, inter alia, enhancing social, institutional and physical infrastructure, promoting foreign direct investment, trade and technological innovations, improving health and education, fostering gender equality, preserving the environment and eradicating poverty, and welcomes steps to improve the effectiveness and quality of aid based on the fundamental principles of national ownership, alignment, harmonization, managing for results and mutual accountability;

Underlines the fact that the fulfilment of all official development assistance commitments is crucial, including the commitments by many developed countries to achieve the target of 0.7 per cent of gross national product for official development assistance to developing countries by 2015 and to reach a level of at least 0.5 per cent of gross national product for official development assistance by 2010, as well as a target of 0.15 per cent to 0.20 per cent of gross national product for official development assistance to least developed countries, and urges developed countries that have not yet done so to fulfil their commitments for official development assistance to developing countries;

Encourages donors to work on national timetables, by the end of 2010, to increase aid levels within their respective budget allocation processes towards achieving the established official development assistance targets;

Underlines the important role of the United Nations development system in advancing development and in protecting development gains in accordance with national strategies and priorities, including progress towards achieving the internationally agreed development goals, including the Millennium Development Goals, threatened by the current economic crisis, reiterates that the United Nations should use the current economic situation as an opportunity to redouble its efforts to improve the efficiency and effectiveness of its development programmes urges donor countries and other countries in a position to do so to substantially increase voluntary contributions to the core/regular budgets of the United Nations development system and to contribute on a multi-year basis, in a sustained and predictable manner, and notes that non-core resources represent an important supplement to the regular resource base of the United Nations development system;

Recognizes the potential of various voluntary innovative sources of financing to supplement traditional sources of financing, stresses that those funds should be disbursed in accordance with the priorities of developing countries and should not burden them unduly, and encourages the Secretary-General to organize an informal event in 2010, within existing resources, on the potential of voluntary innovative sources of development finance;

Notes the overall increase in the level of official development assistance in 2008 and that a significant part of aid flows since 2002 has comprised debt relief and humanitarian assistance;

Emphasizes the great importance of a timely, effective, comprehensive and durable solution to the debt problems of developing countries, since debt financing and relief can be an important source of capital for economic growth and development, and also emphasizes that creditors and debtors must share responsibilities for preventing unsustainable debt situations;

Recognizes that recent special drawing rights allocations helped to increase global liquidity in response to the global financial and economic crisis;

Reaffirms the need for a strengthened and more effective intergovernmental inclusive process to carry out the financing for development follow-up and to review progress in the implementation of commitments, identify obstacles, challenges and emerging issues and propose concrete recommendations and actions;

Endorses, in this regard, the recommendations of the Economic and Social Council as contained in its resolution 2009/30 of 31 July 2009;

Affirms the need to give more prominence to its annual agenda item entitled “Follow-up to and implementation of the outcome of the 2002 International Conference on Financing for Development and the 2008 Review Conference”, and in this regard reiterates the need to review the modalities for the financing for development follow-up process, as appropriate;

Recalls the decision to consider the need to hold a follow-up financing for development conference by 2013;

Decides to include in the provisional agenda of its sixty-fifth session the item entitled “Follow-up to and implementation of the outcome of the 2002 International Conference on Financing for Development and the 2008 Review Conference”, and requests the Secretary-General to submit, under that item, an annual analytical assessment of the state of implementation of the Monterrey Consensus6 and the Doha Declaration on Financing for Development, and of the present resolution, which is to be prepared in full collaboration with the major institutional stakeholders and to include concrete proposals on the further strengthening of the financing for development follow-up process for consideration by Member States.

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Follow-Up to and Implementation of the Monterrey Consensus and the Outcome of the 2008 Review Conference (Doha Declaration on Financing for Development)

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