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UNGA 59th session

Second Committee

Agenda item: 84








13 October, 2004



Mr. Chairman,


            First of all I would like to express our appreciation to the Secretary-General and his team for the presentation of a comprehensive report on the state of the follow-up to and implementation of Monterrey Consensus. The report provides comprehensive account of initiative and commitments undertaken by Governments and major institutional stakeholders.


            Mr. Chairman,


            My delegation associates itself with the statement made by representative of Qatar, on behalf of the G-77 and China. In may national capacity, I would like to make a few remarks.


            The International Conference on Financing for Development was a major event for mobilization of efforts on worldwide scale towards the achievement of the Millennium Development Goals for poverty reduction and the other internationally agreed development targets. Today we assess the process of implementation of the Monterrey Consensus. We regret to learn that the progress in achieving the goals set out in Monterrey Consensus is uneven at best or lacking after 2 years of our common drive. The success of meeting the MDGs depends largely on state of affairs for creating favourable internal conditions, including sound microeconomic policies and good governance as well as the global response and the maturity of new partnership between developing and developed countries. Many developing countries have made considerable improvements in macroeconomic policies and reforming their financial sector. Such policies and reforms are essential, but they need to be combined with targeted action on development. At the same time, development assistance and FDI play crucial role in helping developing countries to scale-up their development process.


            The unrealistic prospect for doubling the ODA over the 2001 level brought the necessity to look for other alternative sources of financing for development. We regret for such forced action. We have a saying ”if promised honour it”. I hope that the developed world will honour their promises and meet their responsibilities.  In this, respect, my delegation commends the commitments of the United Kingdom and France to double their ODA.


Mr. Chairman,          


            We recognize that primary responsibility for economic and social development lies in hand of Governments of the concerned countries. Mongolia cooperates closely and actively with her bilateral and multilateral donor partners to ensure stronger economic growth, address market and institutional weakness and enhance local capabilities. We believe that finalization and implementation of the Economic Growth Support and Poverty Reduction Strategy of Mongolia which reflects my Government’s own vision for growth, poverty reduction and the achievement of MDGs, and endorsement of the new Country Assistance Strategy for Mongolia by the World Bank are all important steps in meeting the Monterrey Consensus. In addition to that, I would also like to note that we have significant progress on financing for development through bilateral engagements. We hope that the resolution of the debt issue with Russia will have strong positive impact for further development of my country.


Mr. Chairman,


            We attach special importance to the Millennium Challenge Account, which we condider as a very new approach for development assistance. Being one of first countries met the eligibility criteria, Mongolia is now in the stage of preparing a detailed development projects for a negotiation with MCA compact. The development projects will be decided after wide public consultation, sub-regional and sectoral discussions with broad participation of representatives of civil society and private sector.


            Significant role for Mongolia’s economic development plays the donor communities established mechanism- the Consultative Group Meeting on Mongolia which held its tenth meeting last year in Tokyo. We are confident that outcome of our practical approach in mobilizing international resources for our development will contribute to the achievement of development goals. Taking this opportunity, on behalf of my Government I wish to extend our appreciation to the international donor community for their active support and cooperation.


Mr. Chairman,


            Despite the progress we have made in attaining internationally agreed development goals, there is urgency with which we must proceed and actions to be taken by all stakeholders at all levels. Along with our efforts to fighting poverty, environmental degradation, upholding human rights, rule of law and good governance, we would still need a broader, long-term strategy that would answer needs for new additional financing for development. In this regard, my delegation considers that the study on innovative sources of financing for development undertaken by the World Institute for Development Economics Research of the United Nations University is useful and believe that it should be given careful consideration during our deliberations.


I thank you, Mr. Chairman