From Addis to the Pacific: financing for development in Small Island Developing States

The Third International Conference on Financing for Development is over. The emerging commentary on the Addis Ababa Action Agenda is optimistic. There is broad agreement that it represents an ambitious step forward from previous agreements reached in Doha and Monterrey. The Addis Agenda reaffirms the importance of Official Development Assistance – this is helpful and important. But what is equally exciting and forward-looking is the recognition that all sources of development finance, including domestic resources, private investment and philanthropic flows, are needed for sustainable development. It lays out a strong policy platform to source and fuse all these types of finance to reduce poverty and enhance shared prosperity.

The Addis Agenda makes connections between good governance, public financial management and the provision of social services. It highlights key sectors including health, education and infrastructure as providing the baseline from which lives are improved, communities flourish and economies thrive. It mainstreams gender in unprecedented ways by connecting legal empowerment with decision making and finance outcomes. It recognises the importance of finance linked to technology and innovation, and smart partnerships. Importantly for vulnerable small island developing states (SIDS), it calls for a more integrated approach to climate and disaster resilience financing.

http://devpolicy.org/from-addis-to-the-pacific-financing-for-developmen…