Chapter 2 (Download)
One United Nations (Ch 2, para 63)
Acronyms
Annual overview report for 2004/05 - E/2005/63
Resolution, including the original text of the agreement - 32/107
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67. The goal of developing a global partnership for development provided one of the key platforms for the Monterrey Conference’s response to the concerns of Member States over the continuous trend of decline in official development assistance flows to developing countries, which remains their primary source of external funding. The outcome of the Conference, the Monterrey Consensus, derived from full and extensive collaboration among the United Nations, the Bretton Woods institutions and other major stakeholders, such as the WTO. It aims to create a broad-based partnership between developed and developing countries, in order to explore ways of generating additional public and private financial resources to complement national efforts to mobilize domestic resources. As part of that partnership, the Monterrey Consensus sought to reverse the decline in ODA and to affirm the commitment of developed countries to the 0.7 UN Development target.
68. Monterrey and the actions taken by donors in its aftermath have had a beneficial impact on the magnitude of official assistance flows.(15) Even with recent progress, however, additional funds will be necessary. As a result, along with efforts to establish timetables to reach the ODA target of 0.7 percent reaffirmed at Monterrey, attention has turned increasingly to finding sources of financing in addition to traditional ODA—now referred to as “Innovative sources of financing for Development.” Since 2003, initiatives by Heads of State, studies from independent experts and technical groups have been reviewing the feasibility and implications of various proposals. Recent meetings of the International Monetary and Finance Committee(16) and the Development Committee(17) have pursued the matter, and the General Assembly(18) has requested that possibilities in this regard be given further consideration.
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Last modified 2006-02-08 11:17