Financial resources the 'lifeblood of the race to meet development goals: John AsheListen /
Financial resources remained the "lifeblood" to meeting development goals, the General Assembly President John Ashe told the Assembly's Economic and Financial Committee as it concluded its general debate on sustainable development.
He told the Committee that its deliberations had the potential to strengthen both the economic and environmental pillars of sustainable development and contribute to forging the post-2015 agenda. The Committee could also play an important role in areas of macroeconomic policy, debt, technology and the international financial system.
According to Ambassador Ashe, fulfilment of official development assistance (ODA) remained critical, adding that Financing needs far outpaced public sector resources in many countries, especially those in special situations in Africa, those landlocked and least developed, as well as small island developing States. He stressed that new and innovative sources of financing were required to supplement traditional ODA.
The president of the General Assembly noted that South-South cooperation should complement North-South and triangular cooperation, explaining that essential to sustainable development was upholding a fair and non-discriminatory multilateral trading system. He said the particular vulnerability of small-island developing States must be addressed and their engagement and recognition in the international policy forums ensured.
The General Assembly president also emphasized the particular vulnerability of Small Island Developing States noting that with the spotlight on those States in 2014, it was imperative for the preparations for their upcoming Samoa conference to provide greater opportunities for their engagement and recognition in the international policy forums.
This is Donn Bobb reporting.