United Nations Radio

The international conference on financing for development opened in Doha, Saturday with a warning that the well-being of the people and health of societies depend on what we do today and in the weeks ahead.

He says while major economies have responded to the financial crisis with fiscal and monetary rescue packages and stimulus plans, we need to do more - much more.

The Secretary-General outlined a six-point plan which, among other things calls for liquidity.

He says while the wealthiest nations have moved to keep credits flowing, we must ensure that developing countries can do so as well:

"We therefore need additional emergency financing from the IMF, the World Bank and other sources. Without it, the credit crisis will spread to emerging economies. Growth will stall, hurting them and the world as a whole."

Secretary-General Ban's six-point plan also calls for an increase in grants and long term lending from the development banks as part of the response to achieve the Millennium Development Goals; the stepping up of debt relief programmes granted to the poorest nations; the mobilization of local resources; and an end to protectionism.

As he put it: in today's climate, 'aid for trade' is the only sustainable path to the future.

This is Donn Bobb reporting for United Nations Radio, Doha.

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