Pillar 6: Finance and partnerships

Illicit outflows: no end without global cooperation

Addis Ababa: The recently concluded conference on development finance was remarkable. It was a platform to raise concerns, to debate on issues and to propose suggestions.  A consortium of civic associations took this opportunity to raise their voices on major issues that are crippling developing countries - illicit financial outflows and tax avoidance by multinational companies (MNCs).

UN General Assembly endorses the Addis Ababa Action Agenda

New York: The General Assembly [Monday] adopted a resolution endorsing the Addis Ababa Action Agenda of the Third International Conference on Financing for Development, a “new global framework” that many said would strengthen cooperation in technology, infrastructure and social protections that were key to realizing inclusive sustainable development.

How the world can put a stop to illicit financial flows

Washington: Under the weight of great expectations and the glare of television cameras, delegates gathered last week for the Third International Conference on Financing for Development in Addis Ababa. Global leaders, civil society and private sector representatives exchanged ideas on financing the ambitious Sustainable Development Goals. The conversation represented a paradigm shift in how we think about development.

Islamic finance to fund Sustainable Development Goals

Addis Ababa: Islamic Finance can serve as a strong and non-traditional source of financing the Sustainable Development Goals (SDGs) according to global experts. As part of its commitment to the SDGs, the Islamic Development Bank has announced it will increase its funding of SDG related activities through its ten year strategy framework, from $80 billion recorded during the MDGs, to $150 billion over the next 15 years (2016-2030).

NEPAD side events at the Third International Financing for Development conference

Five side events were organised by NEPAD during the Third International Financing for Development conference, held in Addis Ababa in July 2015.  They were:   

What happened at the Addis financing for development conference?

Washington: Concepts, constraints, and conquests. These three words keep popping in to my head as people ask me how things went at the United Nations’ major financing for development (FFD) conference last week in Addis Ababa, Ethiopia. Allow me to explain why.

Concepts

Africa must finance own development

Harare: The African Capacity Building Foundation (ACBF) says Africa should come up with relevant mechanisms to finance its own economic growth programmes for the continent to own and account for its development processes. The foundation says it is also critical for Africa to fund its own projects in the wake of the global financial and economic crisis, donor fatigue and volatility of foreign direct investment among other challenges prevailing on the globe.

Financing for Development forges ‘New Financial Alliance’

Addis Ababa: World leaders agreed that strengthening cooperation in technology, infrastructure and social protections to drive prosperity was key to realizing inclusive, sustainable development, as the Third International Conference on Financing for Development concluded this evening in Addis Ababa with the adoption of an outcome text — described by some as a “new financial alliance”.

Outcome document of the Third International Conference on Financing for Development: Addis Ababa Action Agenda

We, the Heads of State and Government and High Representatives, gathered in Addis Ababa from 13 to 16 July 2015, affirm our strong political commitment to address the challenge of financing and creating an enabling environment at all levels for sustainable development in the spirit of global partnership and solidarity. We reaffirm and build on the 2002 Monterrey Consensus and the 2008 Doha Declaration.

Addis Tax Initiative launched

Addis Ababa: More than 30 countries and international organizations have launched the Addis Tax Initiative aimed at promoting a strong domestic tax system, including stronger tax institutions and the stemming of cross-border and domestic tax evasion. Speaking at the launch of the initiative here Wednesday, Finance and Economic Development Minister Sofian Ahmed said Ethiopia had achieved a remarkable transformation in collecting taxes at the national level, especially during the past five years but still had much to do when c

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