Follow-Up to the International Conference on Financing for Development

A/RES/66/191No PDF available

Who created this mandate?

A Resolution of the General Assembly, under agenda item 18Follow-up to and implementation of the outcome of the 2002 International Conference on Financing for Development and the 2008 Review Conference, published in 2012.

What other versions does this mandate have?

6 versions · 2011–2016

This is an older version — the most recent is A/RES/70/192

2016A/RES/70/192Follow-up to the International Conference on Financing for DevelopmentLatestCompare with previous version
2015A/RES/69/208Follow-up to the International Conference on Financing for DevelopmentCompare with previous version
2014A/RES/68/204Follow-up to the International Conference on Financing for DevelopmentCompare with previous version
2013A/RES/67/199Follow-up to the International Conference on Financing for DevelopmentCompare with previous version
2012A/RES/66/191Follow-up to the International Conference on Financing for DevelopmentCompare with previous version

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Which reports were submitted under this mandate?

1 report of the Secretary-General submitted under this mandate, 2012.

2012A/67/339Follow-up to and implementation of the Monterrey Consensus and Doha Declaration on Financing for Development report of the Secretary-General

Identified automatically from the metadata in each report’s UN Digital Library catalogue record.

What does this mandate say?

36 operative paragraphs

Reaffirms the Monterrey Consensus of the International Conference on Financing for Development in its entirety, its integrity and its holistic approach, and recalls the resolve to take concrete action to implement the Monterrey Consensus and to address the challenges of financing for development in the spirit of global partnership and solidarity in support of the achievement of the internationally agreed development goals, including the Millennium Development Goals;

Also reaffirms that each country has primary responsibility for its own development and that the role of national policies and development strategies cannot be overemphasized for the achievement of sustainable development, and recognizes that national efforts should be complemented by supportive global programmes, measures and policies aimed at expanding the development opportunities of developing countries, while taking into account national conditions and ensuring respect for national ownership, strategies and sovereignty;

Reaffirms its determination to advance and strengthen the global partnership for development as the centrepiece of cooperation in the years ahead, as reaffirmed in the United Nations Millennium Declaration, the Monterrey Consensus,8 the Plan of Implementation of the World Summit on Sustainable Development (“Johannesburg Plan of Implementation”), the 2005 World Summit Outcome,Error: Reference source not found the Doha Declaration on Financing for Development: outcome document of the Follow-up International Conference on Financing for Development to Review the Implementation of the Monterrey Consensus, and the outcome document of the High-level Plenary Meeting of the General Assembly on the Millennium Development Goals, entitled “Keeping the promise: united to achieve the Millennium Development Goals”;Error: Reference source not found

Recalls the importance of the overall commitment to just and democratic societies for development, as spelled out in the Monterrey Consensus;

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

Recognizes that the mobilization of financial resources for development and the effective use of all of those resources are central to the global partnership for development, including in support of the achievement of the internationally agreed development goals, including the Millennium Development Goals, and also recognizes that the mobilization of domestic and international resources and an enabling domestic and international environment are key drivers for development;

Recalls the resolve of Member States to enhance and strengthen domestic resource mobilization and fiscal space, including, where appropriate, through modernized tax systems, more efficient tax collection, the broadening of the tax base and the effective combating of tax evasion and capital flight, and reiterates that, while each country is responsible for its tax system, it is important to support national efforts in these areas by strengthening technical assistance and enhancing international cooperation and participation in addressing international tax matters;

Expresses deep concern about the ongoing adverse impacts of the global financial and economic crisis on development, including on the capacity of developing countries to mobilize resources for development, recognizes that there is a need to promote the recovery, and acknowledges that an effective response to the impacts of the crisis requires timely implementation of all development commitments, including existing aid commitments;

Recalls that the ongoing fight against corruption at all levels is a priority, reaffirms the need to take urgent and decisive steps to continue to combat corruption in all its manifestations in order to reduce obstacles to effective resource mobilization and allocation and to prevent the diversion of resources away from activities that are vital for development, 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, notes 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;

Reaffirms the importance of implementing measures to curtail illicit financial flows at all levels, enhancing disclosure practices and promoting transparency in financial information, and in this regard notes that strengthening national and multinational efforts to address this issue is crucial, including through support and technical assistance to developing countries to enhance their capacities;

Emphasizes the need for more effective government involvement so as to ensure an appropriate regulation of the market that promotes the public interest, and also recognizes the need to better regulate financial markets;

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, at the national level and in a manner consistent with national laws, appropriate policy and regulatory frameworks 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 while improving empowerment of 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 that the mobilization of domestic and international resources for social development is an essential component for the implementation of the commitments made at the World Summit for Social Development, held in Copenhagen from 6 to 12 March 1995, and in this regard requests the Secretary-General, in cooperation with the Chair of the Commission for Social Development at its fiftieth session, to organize a special event in 2012 on the financing of social development;

Notes that foreign direct investment is a major source of financing for development, 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 to continue their efforts to create a domestic environment conducive to 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 also reaffirms the critical role that a universal, rules-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;

Emphasizes the need to resist protectionist tendencies and to rectify any trade-distorting measures already taken that are inconsistent with World Trade Organization rules, recognizing the right of countries, in particular developing countries, to fully utilize their flexibilities consistent with their World Trade Organization commitments and obligations, and that the successful conclusion of the Doha Round with a balanced, ambitious, comprehensive and development-oriented outcome would provide much-needed impetus to international trade and contribute to economic growth and development;

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 as well as the 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;

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;

Also stresses the need to strengthen and support South-South cooperation, while stressing further that South-South cooperation is not a substitute for, but rather a complement to, North-South cooperation, and calls for the effective implementation of the Nairobi outcome document of the High-level United Nations Conference on South-South Cooperation, held in Nairobi from 1 to 3 December 2009;

Recognizes that human development remains a key priority, that human resources are the most precious and valuable asset that countries possess, and that the realization of full and productive employment and decent work for all is essential, and 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;

Considers that innovative mechanisms of financing can make a positive contribution towards assisting developing countries in mobilizing additional resources for financing for development on a voluntary basis and that such financing should supplement and not be a substitute for traditional sources of financing, and, while highlighting the considerable progress on innovative sources of financing for development achieved to date, stresses the importance of scaling up present initiatives and developing new mechanisms, as appropriate;

Takes note of the ongoing discussions on innovative mechanisms of financing for development, and requests the President of the Economic and Social Council to organize a special event on innovative mechanisms of financing for development with the participation of relevant stakeholders during the substantive session of 2012 of the Council;

Emphasizes the special importance of a timely, effective, comprehensive and durable solution to the debt problems of developing countries for promoting their economic growth and development;

Also emphasizes that debt sustainability is essential for underpinning growth, underlining in this regard the importance of debt sustainability and effective debt management to the efforts to achieve national development goals, including the Millennium Development Goals, and acknowledges that sovereign debt crises tend to be costly and disruptive, including for employment and productive investments, and tend to be followed by cuts in public spending, including on health and education, affecting, in particular, the poor and vulnerable;

Stresses that the financial and economic crisis has highlighted the need for reform as well as added new impetus to ongoing international discussions on the reform of the international financial system and architecture, including on issues related to mandate, scope, governance, responsiveness and development orientation, as appropriate, and in this regard encourages continued open, inclusive and transparent dialogue;

Notes the important efforts undertaken nationally, regionally and internationally to respond to the challenges posed by the financial and economic crisis, in order to ensure a full return to growth with quality jobs, to reform and strengthen financial systems and to create strong, sustainable and balanced global growth;

Recognizes the need to continue to enhance the coherence and consistency of the international monetary, financial and trading systems and the importance of ensuring their openness, fairness and inclusiveness as complements to national development efforts to ensure sustained, inclusive and equitable economic growth and the achievement of the internationally agreed development goals, including the Millennium Development Goals;

Reaffirms the importance of broadening and strengthening the participation of developing countries in international economic decision-making and norm-setting, and in this regard takes note of recent important decisions on the reform of the governance structures, quotas and voting rights of the Bretton Woods institutions, better reflecting current realities and enhancing the voice and participation of developing countries, and reiterates the importance of the reform of the governance of those institutions for delivering more effective, credible, accountable and legitimate institutions;

Also reaffirms that the United Nations funds and programmes and the regional commissions, and the specialized agencies of the United Nations system, in accordance with their respective mandates, have an important role to play in advancing development and protecting development gains, in accordance with national strategies and priorities, including progress towards achieving the Millennium Development Goals, and further reaffirms its determination to continue to take steps for a strong, well-coordinated, coherent, effective and efficient United Nations system in support of the Goals;

Further reaffirms the need to further intensify the engagement of regional commissions in the financing for development follow-up process, including through the provision of technical advice and analyses to be made available to Member States;

Reiterates the importance of ensuring a strengthened, and more effective, intergovernmental inclusive process for carrying out the financing for development follow-up;

Acknowledges the efforts undertaken to strengthen the financing for development follow-up process, and reiterates that the modalities of the process should be reviewed, as appropriate, in accordance with the provisions set out in paragraph 30 of General Assembly resolution 65/145;

Decides, in accordance with paragraph 90 of the Doha Declaration on Financing for Development,11 to consider the need to hold a follow-up financing for development conference by 2013, and in this regard decides to hold informal consultations with a view to taking a final decision on the need for such a conference by 2013;

Recognizes the work of the Financing for Development Office of the Secretariat, and encourages the Office, in collaboration with experts from the public and private sectors, academia and civil society, to continue its work in accordance with its mandate;

Reiterates its appeal to Member States and other potential donors to consider contributing generously to the Trust Fund for the Follow-up to the International Conference on Financing for Development, which would facilitate the implementation of a strengthened and more effective intergovernmental inclusive process for carrying out the financing for development follow-up;

Decides to include in the provisional agenda of its sixty-seventh 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 the item, an annual analytical assessment of the status of implementation of the Monterrey Consensus 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.

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Follow-Up to the International Conference on Financing for Development

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