Summary: 6 July 2015, Brussels â European Commission Fact Sheet on the Third International Conference on Financing for Development, 13-16 July 2016, Addis Ababa
The context of the conference: the post-2015 agenda
From 13 to 16 July 2015 the international community will gather in Addis Ababa for the Third International Conference on Financing for Development. The aim of the conference is to agree on the financial and non-financial means of implementation that will support the post-2015 development agenda.
The post-2015 framework will succeed the Millennium Development Goals and integrate the follow-up to the Rio+20 Conference on Sustainable Development, both processes merging into the adoption of the Sustainable Development Goals. This new agenda will be agreed upon by Heads of State in New York in September at the UN General Assembly. It aims at eradicating poverty and ensuring sustainable development in all its dimensions, covering issues that range from access to food, water, energy, health and education, to addressing inequalities, including gender inequality, and the needs of people in vulnerable situations.
The success of the two conferences in Addis Ababa and New York is also key for securing a positive outcome for the UN climate change conference in Paris that will be held at the end of this year.
What the conference in Addis Ababa is about
The Financing for Development Conference will cover not only financing, but will also look at how to achieve the goals of the post-2015 agenda in a broader sense – this is called the “means of implementation”. The EU’s vision is a new global partnership that should involve all countries and mobilise all means of implementation, including:
- An enabling policy environment: Good governance and effective institutions will be fundamental for achieving progress and success.
- Mobilising domestic resources in developing countries: Putting in place transparent and efficient tax systems, tackling illicit financial flows.
- Unleashing the potential of the private sector, as well as more cooperation between public and private financial institutions, public-private partnerships and private investments for development.
- Trade is one of the most powerful means to promote sustainable development and growth.
- Official development assistance (ODA), as an important source of financing – particularly for poorest countries – and also as a catalyst for leveraging and maximising the impact of other means of implementation.
- Unlocking the full potential of science, technology and innovation.
The EU stands ready to play its part and contribute its share to mobilising the resources for putting the future agenda into practice.
Three figures illustrating the leading role of the EU in implementing the Post-2015 Agenda
- €58 billion: This is the figure of EU collective ODA in 2014 which makes it the world’s largest donor by far. In line with this role, the EU took a particularly ambitious commitment to achieve the UN 0.7% target within the timeframe of the post-2015 agenda, including a specific effort for countries most in need (0.15-0.20% to Least Developed Countries (LDCs) in the short-term, 0.20% within the timeframe of the post-2015 agenda).
- €100 billion: This is the amount the EU estimates to mobilise through blending by 2020. EU investments of up to €8 billion should generate over €40 billion from public finance institutions which should help mobilise over €100 billion in total from private sources by 2020. The EU has been a pioneer in leveraging additional finance for sustainable development. Given the scale of the challenges ahead, using the catalytic potential of public finance to unlock additional investments will be crucial.
- €35 billion: minimum estimated annual value of Least Developed Countries’ (LDCs) exports to the EU. The annual benefit of the Duty Free Quota Free treatment amounts to 12% of the LDCs’ export value. – This is but one example of how EU policy has a positive impact on partner countries. Setting the right policy framework at home and internationally will be key to achieving sustainable development.
- Ref: EC15-133EN
- EU source: European Commission
- UN forum:
- Date: 6/7/2015