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STORY: UN / FINANCING POST-2015 DEVELOPMENT
TRT: 2.20
SOURCE: UNIFEED-UNTV
RESTRICTIONS: NONE
LANGUAGE: ENGLISH / NATS
DATELINE: 17 OCTOBER 2014, NEW YORK CITY / RECENT
1. Wide shot, exterior United Nations Headquarters
17 OCTOBER 2014, NEW YORK CITY
2. Wide shot, dais and presser
3. SOUNDBITE (English) Pertti Majanen, Committee Co-Chair, Ministry of Foreign Affairs, Finland:
“The first observation of the Committee was that resources are available. It was very positive that global savings are 22 trillion US dollars and these funds will be available, but challenge lies in promoting global financial systems that would incentivize the reallocation of a percentage of savings to global needs.”
4. Med shot, journalists
5. SOUNDBITE (English) Pertti Majanen, Committee Co-Chair, Ministry of Foreign Affairs, Finland:
“The other important observation was that the quality of the present financial sources mechanism and instruments is not that good. We have to improve a lot. It is said by UNEP (United Nations Environment Programme) that only 7% of the direct foreign investments are really implemented in terms of sustainable development criteria and requirements. So, there is room for improvement.”
6. Med shot, journalists
7. SOUNDBITE (English) Pertti Majanen, Committee Co-Chair, Ministry of Foreign Affairs, Finland:
“The estimate of the Financing Committee is that now it is possible to go forward, and the Secretary-General himself is saying very strongly that we have to conclude and accomplish MDGs (Millennium Development Goals); and the Committee’s vision is that there is enough financing possibilities for doing it. So, let’s go ahead with that mission. We estimated that 66 billion US dollars annually would be enough for that.”
8. Med shot, journalists listening
9. SOUNDBITE (English) Geir Pedersen, Permanent Representative of Norway, co-facilitator of the preparatory process for the third International Conference on Financing for Development:
“What is important in the report, and also in the upcoming discussions and preparations for others is that –you know- we, Norway and other donors, we should stick by our promises official development assistance and that’s important -particularly for the least developed countries that’s very important-, but if we are to be successful we need so much more.”
10. Wide shot, dais
A new UN report found that the financing needs for sustainable development were in the trillions of dollars per year, adding that annual global savings, at USD 22 trillion, are sufficient to meet these needs, but current financing and investment patterns will not deliver sustainable development.
Speaking to reporters in New York, the Committee Co-Chair Finland’s Minister of Foreign Affairs Pertti Majanen said “the first observation of the Committee was that resources are available. It was very positive that global savings are 22 trillion US dollars and these funds will be available, but challenge lies in promoting global financial systems that would incentivize the reallocation of a percentage of savings to global needs.”
The Committee proposed a basket of over 115 policy options towards the mobilization of public and domestic international resources, as well as action in the areas of sovereign debt resolution, tax cooperation, the fight against illicit flows, and others.
Majanen also noted that the other important observation of the report was that the quality of the present financial sources mechanism and instruments is not that good.
He said “we have to improve a lot. It is said by UNEP that only 7% of the direct foreign investments are really implemented in terms of sustainable development criteria and requirements. So, there is room for improvement.”
The Finnish Foreign Minister stressed “the estimate of the Financing Committee is that now it is possible to go forward, and the Secretary-General himself is saying very strongly that we have to conclude and accomplish MDGs (Millenium Development Goals).”
He added that the Committee considers that there are enough financing possibilities for achieving those goals. He also said “so, let’s go ahead with that mission. We estimated that 66 billion US dollars annually would be enough for that.”
The Committee report is an important input to the third International Conference on Financing for Development in Addis Ababa, Ethiopia, in July 2015. The Conference is to expect to adopt a comprehensive financing framework for sustainable development, to under write the post-2015 development agenda.
Geir Pedersen, Permanent Representative of Norway and co-facilitator of the preparatory process for the third International Conference in 2015 told reporters
“what is important in the report, and also in the discussions and preparations for others is that –you know- we, Norway and other donors, we should stick by our promises official development assistance and that’s important -particularly for the least developed countries that’s very important-, but if we are to be successful we need so much more.”
Also at the press conference were Mansur Muhtar, Committee Co-Chair, World Bank Executive Director for Nigeria, Angola, South Africa; and George Talbot, Permanent Representative of Guyana, Co-facilitator of the preparatory process for the third International Conference on Financing for Development.
