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Statement at the Second Committee on the follow-up to the outcome of FfD, 14 Nov 07
15 July 2008 / 03:07

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Statement by Mr. Tirtha Raj Wagle, First Secretary, Permanent Mission of Nepal to the United Nations, at the Second Committee, Sixty-second session of the United Nations General Assembly, on Item 53: Follow-up to and implementation of the outcome of the International Conference of Financing for Development

New York, 14 November 2007

Madam Chair,

1. Let me begin by associating myself with the statement made by Pakistan on behalf of the Group of 77 and China.

2. My delegation appreciates the useful reports (A/62/217; A/62/190) of the Secretary General under this agenda item providing comprehensive update while reviewing the activities undertaken in the implementation of the outcome of the International Conference on Financing for Development as well as highlighting the regional dimension of the follow-up to the international conference. These reports have provided valuable information and a context for the effective development follow-up with long-term vision.

Madam Chair,

3. During the High-level Dialogue on Financing for Development last month at the General Assembly, my delegation highlighted the great importance we attach on the effective implementation of the outcome of the conference so as to achieve internationally agreed development goals, including the Millennium Development Goals (MDGs). We welcome that the High-level Dialogue provided critical inputs to the effective preparatory process by highlighting the need of promoting collaborative actions and suggesting renewed approaches to respond to emerging development needs and priorities.

Madame Chair,

4. My delegation reiterates the need for broad, inclusive and effective preparatory process in consultation with and active participation of all stakeholders with a view to undertaking a comprehensive review of the implementation of the Monterrey Consensus which has provided a sound framework of international policy discourse to promote development partnership.

5. That partnership should be bolstered by focusing on the progress made and constraints encountered as well as enhancing ways towards better development results while putting in place effective monitoring and follow-up actions.

6. That partnership should be effectively mobilized towards supporting national efforts to attract foreign investment in developing countries, creating a favorable investment climate, reducing the cost of doing business, ensuring beneficial market access for the least developed countries (LDCs) and landlocked developing countries (LLDCs), enhancing the efficacy of official development assistance (ODA), implementing effective debt relief measures, ensuring inclusive participation and coordination in the international financial system, as well as developing technological base in poor countries.

7. As we are halfway towards achieving the MDGs, our actions should get a big boost by a high and sustained level of external financing. We call upon the developed countries to meet their commitment of providing the LDCs 0.20 percent of their gross national product (GNP) by 2010 in official development assistance as scaled up contribution would be critical in effectively implementing joint partnership frameworks such as the Brussels Programme of Action for the LDCs.

Madame Chair,

8. We emphasize on the need of improving the quality and predictability of aid flow, ensuring donor coordination, supporting national capacity building and development programmes, addressing structural vulnerabilities, exploring avenues of strong and effective cooperation among the countries of the South, and fostering new and innovative sources of financing. We believe that aid effectiveness and success of development strategies can be ensured by promoting country ownership and leadership in policy formulation and programme implementation. Equally important is coordinated contribution of development partners including the United Nations, Bretton Woods Institutions, and other stakeholders focusing on accelerating progress in poverty eradication, infrastructure development, and financing of the pro-poor policies anchored to country realities.

9. We must be able to ensure that the Doha round of multilateral trade negotiations do embrace, seriously, the development dimensions of trade. Marginalized countries, specifically LDCs and LLDCs, require targeted assistance to removing their supply-side constraints, strengthening competitiveness, modernizing trade-related infrastructures, raising agricultural productivity, and adjusting to new realities of market based solutions.

10. Focus must be given to prevent the poorest segment of the international community from being further marginalized in the wave of globalization and competitiveness.

11. Emerging threats of climate change will have serious implications on the development process. We are exposed to growing intensity and severity of adverse impacts on our sustainable development and poverty eradication efforts. The poorest world would be further hit hard by the climate-related threats and risks. As a result, their specific challenges for development are mounting. Urgent and collective actions are needed with greater focus on risk mitigating strategies at the regional and national level.

12. There would be new requirements for development funding and research on country specific impacts and needs. There would be growing need of enhanced financial and technical support for the national adaptation programme of actions.

13. Enhancing national capacities to deal with contemporary risks, threats and opportunities requires well-placed prioritization in execution of development activities that have long-term, productive and constructive impacts on the overall human development.

Madame Chair,

14. As the Secretary General’s report has also rightly stressed, we emphasize on the development of a solid infrastructure foundation for mobilizing domestic financial resources for development. We are committed to promoting sustained growth, inclusive development and improving financial sector while assuring continued macro-economic stability and reform measures.

15. With Nepal’s critical focus now on political transformation process and economic restructuring, we are committed to creating conditions for sound and investment friendly business environment. Development of rural infrastructure, reconstruction and rehabilitation are high on priority that requires immediate and adequate resources. Emphasis has also been laid on fostering emerging sectors of national economy including by encouraging microfinance activities, community-led approaches, active involvement of the private sector, and knowledge orientation. Scaled up international support and cooperation will be of crucial significance in this process.

16. Before I conclude, let me once again appreciate the Government of the State of Qatar for generously hosting next year the first follow-up International Conference to review the implementation of the outcome of the International Conference on Financing for Development.

17. Let me also reiterate that investment in development of the poorest segments of the world should be viewed as an investment in the long-term peace and security and advancement of the entire world. We look forward to a meaningful outcome of the Doha Conference in this direction.

I thank you, Madam Chair!