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Addis Ababa to Produce Financing for Development or Dependency?

Today in Addis Ababa UN Financing for Development conference Bangladesh State Minister MA Mannan chairs an important roundtable titled ‘Ensuring Policy Coherence and an Enabling Environment at all Levels for Sustainable Development’. Important personalities like renowned economist Jeffry Sachs, ILO chief Guy Rider, ESCAP Executive Director Dr. Shamsad Akhter, Ms Hela Cheikhrouhow of GCF are the speakers.

Mentioning post 2015 SDG are transformative and challenging, Mr. Jeffry Sachs stresses on three Universalities of sustainability of environmental protection, of secondary education and of primary healthcare. He also mentioned that there are 1026 awkward rich people like Melinda and Gates in the world, should come forward to finance poverty eradication.

Mr. MA Mannan, the State Minister from Bangladesh and chair of the session in his concluding remark mentions that, especially leaders of developed countries must come forward to address global inequalities in agreeing with developing countries in this Addis Ababa.

In the sideline developed countries, especially US and UK, took hard position in terms of not allowing CBDR (common but differentia responsibilities), not agreeing in intergovernmental tax body and not including Intellectual Property Right (IPR) issue in trade facilitation mechanism. On the other hand, India and Brazil took hard position in favour of G77 plus China group in favour of developing countries. Meanwhile, the conference presidency takes a mid position that want to see AAA (Addis Acton Agenda) must be adopted by tonight or tomorrow and they are proposing some compromised text to be acceptable to both parties. In respect of tax committee they are proposing an intergovernmental expert tax committees having expert representation from developing countries.

Claudio Fernandez, a civil society leader from Brazil, expresses worries that Addis Ababa might have been heading towards a document on Financing for Dependency in place of Financing for Development.

On the previous day, Bangladeshi civil society delegates participated in a side event organized by OECD on their BEPS (Base Erosion and Profit Shifting) process. The BEPS is in the controversy only led by G20 and is deliberately setting norms in respect of illicit flow without the participation of LDC (Least Developed Countries) in decision making.

Bangladeshi civil society activists Asgar Ali Sabri and Rezaul Karim Chowdhury challenged this on the floor that how it will ensure the benefits to LDC if there is no participation from them and how the BEPS will have policy coherence with WTO and IPI (International Policy Institutions).

Atiya Warris, a Nairobi based tax researcher and the speaker in the event mentioned that BEPS has to be more inclusive and should be benefitting to all where UN has better position.

One thought on “Addis Ababa to Produce Financing for Development or Dependency?”

  1. Ok fine , go ahead . Thanks

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