UN chief reiterates call for investment in fighting poverty

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Secretary-General Ban Ki-moon

United Nations Secretary-General Ban Ki-moon has reiterated his call on developed countries to provide funds to developing countries to achieve the Millennium Development Goals or MDGs to end poverty.

Secretary-General Ban spoke at the High-level Dialogue on Financing for Development attended by ministers from around the world on Monday.

He recalled that world leaders gathered in Monterrey, Mexico in 2002 helped put in place, what he called a "bold new partnership for development" but more than a decade later challenges still remain.

The Secretary-General expressed concern about the recent decline in Official Development Assistance that developed countries give to developing countries.

"We are well aware of the constraints on finance today – and yet the successes of the MDGs and other development initiatives clearly show that smart investments will make a lasting difference in the lives of families, communities and societies. A strong financial commitment to human solidarity today will improve prosperity and security tomorrow." (25")

The Secretary-General said international public finance will not be enough to build a more sustainable and prosperous world and that financing and investment from the private sector will play an increasingly vital role.

He urged governments to take measures to encourage long-term investment including by the broadening of the tax base and improving tax administration.

Secretary-General Ban also called for joint action to stop illicit financial flows, enhance the regulation of secrecy jurisdictions and promote asset recovery.

Donn Bobb, United Nations.

Duration: 1’33″

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