|Photo Credit: UN Photo/M Wild
Most of the world's nations lack investment funds that could promote economic development – funds needed to build roads, schools, clinics and factories. As a result, their economies languish and their populations remain poor. In March 2002, the United Nations held an International Conference on Financing for Development to address this problem. The conference focused on six different sources for development funds - domestic resources (such as savings and taxation), foreign direct investment, international trade, international aid, debt relief, and finally systemic reforms. NGOs and others independent voices proposed alternative sources of financing, including especially global taxes and fees. They also asked fundamental questions: who should receive the financing, and for what kind of development? Furthermore, they asked, can poverty be erased if power and wealth are increasingly concentrated in the global economic system? This page contains information on the different ways to mobilize finances for development, and provides information on the international conference on financing for development, its preparation, and follow-up.
Financing for Development
This page provides general articles and documents on development financing.
This page explores global taxes and their dual role as policy instruments and as revenue sources for international programs and institutions. The page gives special attention to currency transaction taxes (tobin tax) and energy taxes.
This page provides information on different aspects of international aid and development, including on the Central Emergency Response Fund and hunger emergency aid.
This section looks at the debt crisis and explores the need for international debt relief.
This page contains material on foreign direct investment, including information on multilateral investment agreements.
This page includes articles on the challenges and opportunities of mobilizing domestic resources for development in poor countries.
International Financing for Development Conferences
During the G-20 Summit in Pittsburgh, the leaders promised to conclude the Doha Round of trade talks in 2010. However, negotiators think that governments have not given them enough flexibility to reach a deal. Doha Round participants favor global cooperation; but the governments incline towards domestic pressures. The tension between "global cooperation and domestic policies" seems to block the negotiations and prevent them from reaching a successful conclusion. (Reuters)
This page follows the progress of the Doha Conference on development financing (to be held November 29 - December 3, 2008 in Doha) including its preparation and follow-up.
This section covers the International Conference on Financing for Development in Monterrey, Mexico in March 2002, including its preparation and follow-up.