PREPARATORY COMMITTEE FOR HIGH-LEVEL EVENT ON DEVELOPMENT FINANCING APPROVES ARRANGEMENTS FOR PARTICIPATION, FUTURE SESSIONS

Press Release
DEV/2239

PREPARATORY COMMITTEE FOR HIGH-LEVEL EVENT ON DEVELOPMENT FINANCING APPROVES ARRANGEMENTS FOR PARTICIPATION, FUTURE SESSIONS

The Preparatory Committee for the High-level International Intergovernmental Event on Financing for Development approved its Bureau’s recommendations on participation of all relevant stakeholders in both the substantive preparatory process and the event itself, as it suspended its resumed organizational session this afternoon.

The Preparatory Committee was established by the terms of General Assembly resolution 54/196. At its fifty-fourth session, the Assembly decided that the High- Level International Intergovernmental Event on Financing for Development would be convened in 2001 to address national, international and systemic issues relating to financing for development in the context of globalization and trade liberalization.

Adopting, without a vote, a draft decision –- co-sponsored by Denmark and Thailand -- on the preparations for the substantive preparatory process and the high-level event itself, the Preparatory Committee also decided to hold its second two-week substantive session in the first quarter of 2001, and the third one in the second quarter of that year, at United Nations Headquarters. It also reiterated its intention to begin its first substantive session on 15 May 2000.

Requesting the Bureau to convey to the World Bank its desire for the Bank’s active participation in the preparatory work, the Preparatory Committee approved a three-tier consultative intergovernmental mechanism for such participation, which implies broad-based Bureau consultations with the Board of that body at critical junctions of the process; continuation of inclusive and transparent informal consultations between the Bank and the United Nations; and consultations of the Bureau with a specially designated senior-level Bank Team to maintain a close, ongoing working relationship.

By the terms of the text, members of the management team would work closely with the Board and hold regular consultations to keep communications in line. They would also be seconded to work directly with the United Nations coordinating secretariat. The Bureau was also requested to seek clarification on paragraph 7 (c) of the report of the Bureau concerning consultations with the World Bank Team, taking into account the views expressed in the Preparatory Committee.

Preparatory Committee for High-Level - 2 - Press Release DEV/2239 Event on Financing for Development 31 March 2000 6th Meeting (PM)

By the same text, the Preparatory Committee also approved its Bureau’s recommendations on participation of Bretton Woods institutions, the World Trade Organization (WTO), intergovernmental and non-governmental organizations, specialized agencies, funds and programmes of the United Nations and other relevant organizations, as well as the business sector. Concerning the participation of non- governmental organizations, the Preparatory Committee also requested the Bureau to submit for its approval the applications of those non-governmental organizations, which did not already have consultative status with the Economic and Social Council, for accreditation to the Preparatory Committee.

By further terms of the decision, the Preparatory Committee approved a series of regional consultative meetings, requesting the regional commissions -– in conjunction with the regional development banks and the United Nations Conference on Trade and Development (UNCTAD) -- to organize such consultations on substantive matters during the second half of 2000 in order to promote contributions of UNCTAD and the regional commissions to the financing for development process, as requested by General Assembly resolution 54/196.

During the discussion of the draft, the representative of St. Lucia (on behalf of the Caribbean Community) said that active involvement of all relevant stakeholders was important to the success of the preparatory process and its outcome. She welcomed the progress made so far in consultations with the World Bank, and said that her delegation looked forward to equal engagement from the WTO and the International Monetary Fund (IMF) in the process.

She said the Caribbean Community wished to place on record its understanding of the process of consultations between the Bureau and the senior management team of the World Bank, specifically with regard to paragraph 7 (c) of the report, on which clarification was being sought. The Bureau and the management team would consult as necessary, and the consultative process was open to all the three major stakeholders.

The Committee also took note of the concern expressed by the representatives of Cameroon, Spain, Algeria and Nigeria (on behalf of the “Group of 77” developing countries and China) over the fact that the Preparatory Committee’s first substantive session, scheduled to begin on 15 May, coincided with the meeting on the causes of conflict in Africa. It would be difficult for some delegations to participate in both.

Several delegations raised the question of the financial budget implications of the regional consultative meetings approved for the second half of 2000 in conjunction with UNCTAD. There were no provisions for those meetings either in the programme budget, or in the budget of UNCTAD, they said. It was pointed out that the statement of programme budget implications should include the cost of all expected meetings, rather than relying on the probability that the regional commissions would have sufficient funds to cover UNCTAD. The speakers stressed that the shortcomings of the present programme budget implications statement should be addressed before the next meeting.

Preparatory Committee for High-Level - 3 - Press Release DEV/2239 Event on Financing for Development 31 March 2000 6th Meeting (PM)

According to the paper on programme budget implications, the decision adopted today would involve additional requirements in the amount of $154,5000 under the programme budget for the biennium 2000-2001. It was not anticipated, at this juncture, that such an amount could be absorbed from the resources approved by the General Assembly for the biennium in question.

The Acting Chairman of the Preparatory Committee, Jorgen Bojer (Denmark) said that further consultations would be held on the programme budget implications of the decision adopted today.

Also speaking this afternoon were the representatives of Chile, Pakistan, Libya, Portugal (on behalf of the European Union), Sudan, Guyana, Kenya and Japan. The representative of the regional commissions’ New York Office, Mr. Bahman, and the Executive Coordinator of the Preparatory Committee, Oscar de Rohas, of the Department of Economic and Social Affairs also addressed the delegates.

The Preparatory Committee will resume its organizational session at a date to be announced.

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