UN forum focuses on financing for development goals

Dhaka,  Sat,  23 September 2017
Published : 24 May 2017, 21:45:00

UN forum focuses on financing for development goals

FE Desk

United Nations (UN) deputy secretary-general Amina Mohammed and the IMF's Christine Lagarde have joined world leaders marking the Financing for Development (FfD) Forum at the UN headquarters.

According to a press release, the meetings come almost two years after the Addis Ababa FfD Summit to implement the global Sustainable Development Goals (SDGs).

"Two years ago, world leaders made promises through the Addis Ababa Action Agenda to build a more responsible global financial system," notes Eric LeCompte who helped negotiate the outcomes and gave remarks during the closing sessions.

He leads the religious development group Jubilee USA. According to him, "We must follow through on the commitments we made together in Addis Ababa."

The agreement in the Ethiopian capital city two years ago expressed concern about predatory financial actors or so-called "vulture" funds. Commitments were also made to promote responsible lending and borrowing and curb tax evasion and corruption.

"The developing world loses more than a trillion dollars a year due to irresponsible lending, tax evasion and corruption," said LeCompte, "The success of these efforts at the UN will be judged on what practical ways we can move an agenda forward that supports the developing world to harness these revenues."
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