"Rich" countries urged to meet development commitments

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Mogens Lykketoft (centre), President of the 70th session of the General Assembly, opens the Assembly's annual general debate. UN Photo/Loey Felipe

The world's richest countries have been urged by the President of the UN General Assembly to meet their financial commitments to international development.

Mogens Lykketoft was speaking as he officially opened the high-level debate of the 70th session of the Assembly.

Veronica Reeves reports.

The debate follows the adoption by the international community of the 17 new Sustainable Development Goals or SDGs during a summit at the UN which ended on Sunday.

Mogens Lykketoft, who took up his one-year presidency of the Assembly earlier in the month, told the gathering of world leaders on Monday that trillions of dollars will be needed to realise those goals over the next fifteen years.

"The least developed countries can only do this, when rich countries live up to their longstanding commitments of a minimum of 0.7 pct. of their national income in development assistance. And national governments can only fund their share of the investment required by fighting corruption and building efficient tax systems."

The SDGs, also known as the global goals replace the Millennium Development Goals or MDGS, which are due to expire at the end of this year.

Veronica Reeves, United Nations 

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