PREPARATORY COMMITTEE FOR HIGH-LEVEL EVENT ON DEVELOPMENT FINANCING CONTINUES CONSIDERATION OF PARTICIPATION

Press Release
DEV/2238

PREPARATORY COMMITTEE FOR HIGH-LEVEL EVENT ON DEVELOPMENT FINANCING CONTINUES CONSIDERATION OF PARTICIPATION

In a brief meeting this morning, the Preparatory Committee for the High-level International Intergovernmental Event on Financing for Development concluded its consideration of an agenda item on its Bureau’s consultations with all relevant stakeholders on the modalities of their participation in the substantive preparatory process and in the event itself.

The draft decision on the matter -– sponsored by Thailand and Denmark -- was introduced by the Acting Chairman of the Committee, Jorgen Bojer (Denmark), who also reported on the outcome of the informal consultations. By the terms of the text, the Preparatory Committee would approve its Bureau’s recommendations concerning participation of the World Bank, the Bretton Woods institutions, the World Trade Organization, intergovernmental and non-governmental organizations, the specialized agencies, the funds and programmes of the United Nations and other relevant organizations, as well as the business sector.

The draft also contains provisions under the agenda items on the preparation for the substantive part of the preparatory process and the event itself, as well as paragraphs on the arrangements for future sessions of the Preparatory Committee. In connection with the latter, the Preparatory Committee would reiterate its intention to begin its first substantive session on 15 May and decide to hold its second two- week substantive session in the first quarter of 2001, at United Nations Headquarters.

Speaking this morning were the representatives of Egypt, Nigeria (on behalf of the “Group of 77” developing countries and China), New Zealand, Portugal (on behalf of the European Union), United States, Mexico, Morocco, Kenya, Norway and Spain, who discussed the oral amendments to the text and the procedural issues in connection with the draft. Most speakers stressed the high level of consensus on the text and the quick progress of work during the organizational session. The representative of the Secretariat informed the Committee that the paper on the financial implications of the draft would be available in the afternoon.

The Preparatory Committee will reconvene at 4 p.m.today to take action on the draft.

* *** *