UN, Indonesia to hold consultation on development financing

UN, Indonesia to hold consultation on development financing
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The United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) and the Finance Ministry will co-host the Asia-Pacific High-Level Consultation on Financing for Development, which will be held in Jakarta from April 29 to April 30.

"The consultation will provide an opportunity for ESCAP members, along with the private sector, academia and civil society organisations, to both re-evaluate the role of traditional sources of finance and explore innovative instruments to fund investments in the economic, social and environmental dimensions of sustainable development," ESCAP said in a press release on Monday.

It said the regional consultation would produce the Jakarta outcome document containing discussions and recommendations related to the mobilization and effective use of financial resources in Asia and the Pacific.

The document will provide the region's input into the preparations and outcomes of the Third International Conference on Financing for Development, set to be held in Addis Ababa, Ethiopia, from July13 to July 16.

"Importantly, the deliberations will significantly contribute to the UN summit in September for the adoption of the post-2015 development agenda, as well as the UN Climate Change Conference (COP21) in December," ESCAP said.

The organising of the Asia-Pacific Consultation is based on the request of the UN General Assembly to convey the region's perspectives and recommendations to the conference.

Under-Secretary-General of the United Nations and Executive Secretary of ESCAP, Shamshad Akhtar, and Finance Minister Bambang Brodjonegoro are scheduled to attend the consultation which will be held at the Finance Ministry.


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