Secretary-General backs efforts for more innovative forms of finance for development

Secretary-General backs efforts for more innovative forms of finance for development

Ban Ki-moon
Finding new flows of development finance is crucial if the world is to meet its ambitious series of anti-poverty goals by the target date of 2015, Secretary-General Ban Ki-moon has told a meeting of an international group of rich and poor nations set up to promote more innovative ways of financing.

In a video message to the meeting of the Leading Group on Solidarity Levies to Fund Development, held in Seoul, Mr. Ban noted the continuing funding gap in the campaign to achieve the Millennium Development Goals (MDGs).

“Closing this gap is essential if we are to alleviate extreme poverty, fight diseases and achieve the other development targets,” he said. “It is vital that the momentum be maintained and that new funding initiatives be encouraged.”

The world’s nations agreed in 2000 to work towards the MDGs, a set of eight targets for ameliorating major social and economic ills.

In his message today, Mr. Ban cited the air ticket solidarity levy, the international finance facility for immunization and the advanced market commitments pilot programme as recent examples of creative alternatives in the area of financing for development.

He told the Leading Group that their gathering “provides a unique opportunity to take stock of the progress made to date in these and other initiatives. It also allows you to exchange experiences and lessons learned as we move forward in achieving the internationally agreed development goals.”

Established last year, the Leading Group has at least 40 member countries and observer members, and includes both developed and developing nations.