Hon. Mr. Nabindra Raj Joshi, Minister for Industry, delivered a statement at the Second ECOSOC Forum on Financing for Development Follow-up at the United Nations Headquarters in New York today.

The Hon. Minister Mr. Joshi in his statement as the leader of Nepali delegation to the Forum, highlighted that the financing gap for the implementation of Sustainable Development Goals (SDGs) looms large, adding that the gap is even more alarming for the countries like Nepal.

The Hon. Minister also said that “the new constitution adopted by the constituent assembly of Nepal incorporating universally accepted democratic and inclusive values and norms”, would help create conducive environment for implementation of all internationally agreed development agendas.

Underlining the fact that increasing traditional forms of development finance alone will not lead us to achieving the SDGs, the Hon. Minister said, the “Development partners should fully comply with their ODA commitments, facilitate trade and export and also encourage the flow of investments and technologies, in line with the agreed agendas. He also added that climate financing should be made adequate, easy and accessible to vulnerable countries like Nepal.

The Minister underscored the need to redouble the efforts to translate the internationally agreed development commitments into action, adding that “Nepal was committed to do its part”.

The Forum was set up by the Addis Ababa Action Agenda for a dedicated and strengthened follow-up process to make a review of the financing for development outcomes and the means of implementation of the 2030 Agenda for Sustainable Development. The inter-governmentally agreed conclusions and recommendations of the Forum will be fed into the overall follow-up and review of the implementation of the 2030 Agenda in the high-level political forum on sustainable development.

The annual Forum this year comprises special high-level meeting of the ECOSOC with the Bretton Woods institutions, WTO and UNCTAD. It also comprises ministerial segment containing three ministerial round tables, expert segment as well as expert discussions. The four-day Forum will conclude on 25 May 2017, by adopting an inter-governmentally agreed outcome document.

The Nepali Delegation to the Forum includes Dr. Prem Prasad Dangal, Executive Vice-Chairman of Youth and Small Entrepreneur Self-Employment Fund Secretariat.

Meanwhile, the Hon. Minister inaugurated “Nepal Parade Day” organized by various Nepalese American communities and supported by the Consulate General of Nepal in New York yesterday on 21 May 2017 in Manhattan, New York City. The Minister addressed the gathering at the end of the Parade.