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Commonwealth Finance Ministers to meet on MDGs

By BusinessNews Staff on October 7, 2014

Commonwealth Finance Ministers will meet this Wednesday to explore ways of financing the Post-2015 development agenda at a time many countries are struggling to meet targets for combating poverty and improving livelihoods of millions of their citizens.

The meeting would take place in Washington DC on the sidelines of the 2014 International Monetary Fund and World Bank annual meetings.

The ministers would consider the findings of the report of the United Nations Intergovernmental Committee of Experts on Sustainable Development Financing.
The report explores options for mobilising resources to achieve sustainable development goals.
The Co-Chair of Committee of Experts, former Nigerian Finance Minister, Dr. Mansur Muhtar, would also brief ministers on the committee’s ideas for funding social and economic development.

The ministers would also discuss key areas which require further work and the political impetus needed for an ambitious outcome at the third UN financing for development conference which would be convened in Addis Ababa in July 2015.
Another major item on the agenda would be to discuss proposals for reform designed to improve ways of mobilising, measuring, and monitoring the effectiveness of official development assistance.

The proposals were developed by countries belonging to the Organisation of Economic Cooperation and Development.
Commonwealth Secretary-General, Kamalesh Sharma described the meeting as an outstanding opportunity for taking stock of international approaches to development and development finance.

He said: “These meetings convene at a time of intense global discussion on the content and direction of the post-2015 development agenda and of the framework for financing that would underpin it.”

[This Day]

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