Synthesis of MOI and FfD
Objectives are to assess zero draft and Africa Group of negotiators document and highlight areas for discussion as appropriate; To synthesize elements from the zero draft, chairs summary and ECA elements paper into concrete proposals for the negotiations focusing on what Africa and G77 and China should demand from development partners; and to suggest sub-headings for Africa’s proposals under each of the FfD catagories.
- A focus on what Africa wants from the international community
- Reviewed the following documents: African Group perspectives for FfD; Zero draft of the FfD Outcome document submitted by the co-chairs on 16 March 2015; OWG proposal for SDGs; Chairs summary of the proceedings of the regional consultations towards the 3rd international conference on FfD; AUC- ECA elements paper for the regional consultations on financing for development
- What aspects of the zero draft of the co-chairs FfD paper need to be flagged?
Overall views on zero draft
- Follow up: The proposal to bring FfD under the purview of the HLPF follow up process facilitates convergence with SDGs
- But follow up requires specificity of targets and timelines:
- Numerical targets are set for developing countries on tax to GDP ratios (para 19), social service expenditures but need similar specific targets for developed countries: e.g., para 21 on IFF-substantially reduce IFF over next 15 years; para 99 on voice in global financial institutions.
- Capacity building is mainstreamed: and limited to technology, innovation and science and data and follow up.
- The issue of monitoring country programmable aid is not discussed
- The practice of channeling public funds through private entities (i.e.Development Finance Institutions) for development using secrecy jurisdictions not discussed
- No specific proposal on addressing generous tax exemptions to foreign investors
- Flexibility in applying criteria for LDC graduates – para 64 of Zero draft only refers to middle income countries
- Additionality of ODA for climate finance: passing reference to transparent accounting for climate finance (Zero Draft para: 61)
- Ambiguity in assignment of roles: Not clear who “We” refers to in most paragraphs