Make aid predictable to speed up growth, cut poverty: UN Official
Thursday, 21 January 2010
FE Report
A senior UN official urged Wednesday the developed world to ensure time-specific release of aid to poorer nations to help them pace up economic growth and poverty reduction.
Noeleen Heyzer, under-secretary general of the United Nations, said that the flow of overseas development assistance (ODA) should be more 'predictable' and aligned with national priorities and MDGs (millennium development goals).
In 2002, the world's richer nations including the United States set a target of giving out 0.7 per cent of their gross national income (GNI) to the impoverished countries in aid, but most of them except a few smaller nations reneged on the pledge.
That target is seen crucial for least developed nations such as Bangladesh, when it comes to achieving the MDGs by 2015, including halving the poverty level and the child mortality rate and increased access to safe water and sanitation.
"We're racing against time," Ms Heyzer said about the financial flows.
The UN official said her agency would continue to put pressure on the developed economies to scale up aid and hold partners accountable for not living up to their promises.
Her comments came after a three-day regional conference in the city that was dedicated to the Brussels plan of action for Asia Pacific LDCs (least developed countries).
She identified three key areas-trade, financial flows and technology transfer-as crucial for accelerating growth and poverty reduction.
Referring to the conference, she said it affirmed the important role that overseas aid plays in Asia Pacific LDCs.
"The commitments for additional resources made for the LDCs at the G-20 and G-8 summits must be met expeditiously and monitored by the international community," the UN official, also executive secretary of UN's ESCAP, said.
She noted that LDCs must be represented on the Financial Stability Board, set up by the G-20.
The conference insisted that poorer nations must be assisted through transfer of technology and finance to adopt a new development strategy based on green growth, fostering more inclusive and sustainable development.
But now there are new tracks-climate change and global financial crisis have threatened to reverse the achievements gained over the years.
She warned that food, fuel and financial crisis and climate change exposed the acute vulnerabilities of the poorer nations in Asia Pacific, threatening to derail their development gains.
A senior UN official urged Wednesday the developed world to ensure time-specific release of aid to poorer nations to help them pace up economic growth and poverty reduction.
Noeleen Heyzer, under-secretary general of the United Nations, said that the flow of overseas development assistance (ODA) should be more 'predictable' and aligned with national priorities and MDGs (millennium development goals).
In 2002, the world's richer nations including the United States set a target of giving out 0.7 per cent of their gross national income (GNI) to the impoverished countries in aid, but most of them except a few smaller nations reneged on the pledge.
That target is seen crucial for least developed nations such as Bangladesh, when it comes to achieving the MDGs by 2015, including halving the poverty level and the child mortality rate and increased access to safe water and sanitation.
"We're racing against time," Ms Heyzer said about the financial flows.
The UN official said her agency would continue to put pressure on the developed economies to scale up aid and hold partners accountable for not living up to their promises.
Her comments came after a three-day regional conference in the city that was dedicated to the Brussels plan of action for Asia Pacific LDCs (least developed countries).
She identified three key areas-trade, financial flows and technology transfer-as crucial for accelerating growth and poverty reduction.
Referring to the conference, she said it affirmed the important role that overseas aid plays in Asia Pacific LDCs.
"The commitments for additional resources made for the LDCs at the G-20 and G-8 summits must be met expeditiously and monitored by the international community," the UN official, also executive secretary of UN's ESCAP, said.
She noted that LDCs must be represented on the Financial Stability Board, set up by the G-20.
The conference insisted that poorer nations must be assisted through transfer of technology and finance to adopt a new development strategy based on green growth, fostering more inclusive and sustainable development.
But now there are new tracks-climate change and global financial crisis have threatened to reverse the achievements gained over the years.
She warned that food, fuel and financial crisis and climate change exposed the acute vulnerabilities of the poorer nations in Asia Pacific, threatening to derail their development gains.