UN confce July 13 for enhanced fund flow to developing nations

FE Report
The United Nations will organise an international conference on 'Financing for Development' on July 13 in Addis Ababa for enhancing aid flow to the least developed and developing countries.
The United Nations is going to organise the 3rd international conference on "Financing for Development" on July 13 in Addis Ababa aimed at enhancing aid flow to the least developed and developing countries.
High-level policymakers, including heads of state or government, ministers, relevant institutional stakeholders, non-governmental organisations and business-sector entities will take part in the five-day conference, a UN high official said through media briefing on Thursday night.
Alexander Trepelkov, an official at the United Nations (UN) headquarters,  was answering questions of journalists from across the globe, including Dhaka, through videoconferencing from the UN headquarters in New York on various aspects of development financing and the global meet.
He said the LDCs and developing countries have shortage of financing for their infrastructure development and fighting hunger. The forthcoming conference would facilitate scope for increased money flow to those poor countries from the developed states, he said.
The conference in Addis Ababa, Ethiopia, will result in an inter-governmentally negotiated and agreed outcome, which should constitute an important contribution and support to the implementation of the post-2015 development agenda, he added.
According to UNCTAD, in developing countries some US$3.3-$4.5 trillion investments are needed annually for their development.
However, the countries are receiving $1.4 trillion, implying an investment gap of $1.9 trillion-$3.1 trillion.
The United Nations has shown the OECD (Organisation for Economic Cooperation and Development) countries has disbursed development assistance equivalent to their 0.29 per cent of GNI (Gross National Income) instead of committed 0.70 per cent for the poor and developing countries.
Mr Trepelkov said the international conference will assess new and emerging issues, including recent multilateral efforts to promote international development cooperation, current evolving development cooperation landscape, and interrelationship of all sources of development finance.
The meet will also do stocktaking of synergies between financing objectives for sustainable development, and need to support the UN development agenda beyond 2015, and reinvigorating and strengthening the financing for development follow-up process. A 6-member Bangladesh government delegation, led by state minister for finance and planning MA Mannan, will attend the international conference on 'Financing for Development'-third of its kind.
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