Financing needs for development are "enormous", says UN chief

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Secretary-General Ban Ki-moon delivers remarks. UN Photo/Evan Schneider (file)

The world needs an international financial framework that is predictable and effective, according to the UN Secretary-General.

Ban Ki-moon was speaking at UN Headquarters at what are known as "informal interactive hearings".

These have been scheduled over the next two days to give leaders from the business sector and civil society an opportunity to share their views on how to finance new sustainable development goals.

Stephanie Coutrix reports.

The third International Conference on Financing for Development will be held in Addis Ababa, Ethiopia in July.

It is expected to result in a negotiated and agreed outcome, which will support the implementation of new development goals.

These are part of what the UN Secretary-General described as an "ambitious post-2015 development agenda" which will follow the Millennium Development Goals that expire this year.

Speaking to representatives from business entities, Ban Ki-moon said the financing needs are enormous.

"The world needs an international financial framework that is predictable and effective in meeting these challenges and achieving sustainable and inclusive development. We invite the private sector to be our partners in supporting and financing this agenda."

The UN chief added that civil society has an important role to play in bringing all voices to the table and ensuring that the financing framework addresses the needs of all people.

Stephanie Coutrix, United Nations.

Duration: 1’02″

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