n Development Finance Agenda (DEFA) - Development finance as a global agenda in the 21st century

Volume 1, Issue 1
  • ISSN :



This brief article provides a snapshot of recent progress on development finance commitment made at the UN and points to some of the challenges ahead. Over the past decade, the Monterrey Consensus and the Doha Declaration on Financing for Development have been major reference points on development finance. They represent a true global compact built on the understanding that development requires country-led strategies and an enabling international environment. Their comprehensive financing frameworks have shaped policies at the national, regional and international levels and led to some notable successes, especially in the field of domestic resource mobilization, debt relief and development assistance. However, the world has changed dramatically and new challenges in development finance have emerged, such as the need to more fully integrate sustainability in the global agenda. In this regard, the international community should pay heed to the important current efforts at the United Nations to tackle these challenges. The outcome of the ongoing deliberations of UN Members States on a new "post-2015 development agenda" and its underlying financing framework will have an impact on the lives of our future generations.

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