UNITED NATIONS FINANCE FOR DEVELOPMENT CONFERENCE ATTRACTING WIDE INTERNATIONAL PARTICIPATION

united nations finance for development conference

attracting wide international participation

Fifty Heads of State Expected for Summit Segment in Monterrey

NEW YORK, 12 March -- The upcoming International Conference on Financing for Development is the first United Nations conference to focus entirely on financing resources for development, and the first with tripartite representation at the level of heads of State and government, finance or trade ministers, and foreign ministers, Louise Fréchette, the United Nations Deputy Secretary-General, said at a press conference yesterday at United Nations Headquarters in New York.

The Deputy Secretary-General said that the Conference -- to be held in Monterrey, Mexico, from 18 to 22 March -- is also unique in that it features the joint participation of the United Nations, the International Monetary Fund (IMF), the World Bank, and the World Trade Organization (WTO) in its preparation and follow-up.

In the summit-level portion of the Conference  -- taking place on the final two days, 21-22 March -- the number of heads of State and government expected to attend is nearing 50, she said.  The Deputy Secretary-General stressed that just as significant will be the presence at the Conference of national finance, trade and foreign ministers -– a unique combination at an international gathering.

Ms. Fréchette said that the Conference also is attracting widespread participation from the private sector, non-governmental organizations and foundations. 

The International Conference on Financing or Development brings developing and developed countries together to address the challenge of building a stable and more prosperous world community.  As per the mandate of the United Nations General Assembly, the Conference focuses on six areas that are crucial to the prospects of the world’s developing and transition economies, as well as to global economic health.  These are:  mobilization of economic resources; private international investment; access to markets; official development assistance; developing country debt; and global and regional financial structures.

Ms. Fréchette said that the Conference, which will include round tables at the ministerial, as well as head of State, level and a summit meeting of the heads of State, focuses on the financing of a body of development policy built over a decade-long period of global conferences and international activity.

Ms. Fréchette also said that the Conference continues the momentum initiated at last year’s WTO meeting in Doha, where a new agenda for trade negotiations was agreed.

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