Meeting – High-level Dialogue on Financing for Development (The role of financial and technical development cooperation, including innovative sources of development finance, in leveraging the mobilization of domestic and international financial resources for sustainable development – Round 3)

Date/Time – Tuesday, October 8, 2013. 10am to 1pm

United Nations Headquarters in New York – Conference Room 1

Speakers – H.E. Mr. Frantisek Ruzicka, Member of the Intergovernmental Committee of Experts on Sustainable Development Financing and the Permanent

HDRRepresentative of Slovakia to the United Nations, H.E. Mr. Pertti Majanen, Co-Chair Intergovernmental Committee of Experts on Sustainable Development Financing, Helsinki, Finland; Mr. Jon Lomoy, Director, Development Cooperation Directorate, Organization for Economic Cooperation and Development (OECD), Paris; Ms. Gargee Ghosh, Director of Policy and Finance, Bill and Melinda Gates Foundation; Mr. Mauricio Escanero, Alternate Permanent Representative of Mexico to UNESCO; Mr. Gilles Alfandari, Senior Economist, International Policy and Partnerships Group (IPPG), World Bank, Representative of France, Representative of Portugal, and Representative of Saint Vincent and the Grenadines

Attended by – Wayne Doyle, Aniket Kesari, Alexander Luong, and Modou Cham

Summary by – Modou Cham

H.E., Mr. Frantisek Ruzicka, was the chair of the third round dialogue on Financing for Development. There were experts and representatives of member states present to share ideas and give suggestions on how to move pass the 2015 Millennium Development Goals (MDGs). In his opening statement H.E., Mr. Ruzicka, asked the panel to find new measures of innovative financing that have the most potential to raise substantial resources. He also focused on the importance of innovation as the source of financing Social and Environmental Development.

H.E., Mr. Pertti Majanen asked for a single financial report that combines finances from Environmental Development, Social Development, and Sustainable Development to the Post 2015 MDGs. He also suggested an engagement between the private and public sector, which can create a stronger partnership and increase the potential for greater success. Mr. Jon Lomoy, Director of the OECD, added, cooperation between countries is a must for Substantial Development.

Ms. Gargee Ghosh of the Bill and Melinda Gates Foundation started by saying the Foundation has seen great growth of resources enhancing the productions of resource benefits of multi-lateral programs. The foundation has recently invested $90 million dollars in the Global Health Investment Fund in late stage drug products. The foundation also loan their grant money to developing countries, the loan is considered a grant, on conditions that certain performance goals are met. The conditions would be, reduction of diseases such as malaria and increasing the amount of children that have access to vaccines.

Mr. Escanero, representative of Mexico spoke of the importance of taking advantage of the opportunity to work together on Sustainable Development. Mr. Alfandari of the World Bank proclaimed that the World Bank is always learning from innovative financing. Delegate of Saint Vincent and the Grenadines proposed for a stronger partnership between developed and developing countries to secure Sustainable Development.

Edited By: Wayne Dean Doyle

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