International Cooperation and Development Commissioner Neven Mimica takes part in the Third International Conference on Financing for Development aiming at finding financial and non-financial means of implementation to support the post-2015 development agenda.
Commissioner Mimica in Addis Ababa
From 13 to 16 July 2015 the international community is gathering in Addis Ababa for the Third International Conference on Financing for Development. The aim of the conference is to agree on the financial and non-financial means of implementation that will support the post-2015 development agenda. The conference is expected to result in an agreement on the financial and non-financial means of implementation (i.e. aid, investments, policies and more) that will support the post-2015 development agenda and the Sustainable Development Goals (SDGs). This Addis Ababa Action Agenda will pave the way for two other milestones this year: the UN General Assembly in New York in September, which will decide on the list of Sustainable Development Goals (SDGs), and the UN Conference of the Parties on Climate Change (COP) in Paris in December.
Today, EU Commissioner for International Cooperation and Development, Neven Mimica, made the following main points in a speech delivered in Addis Ababa:
- We need a new global partnership that transforms the way in which the international community works together in our struggle against poverty and for sustainable development.
- The European Union will play its part. We will continue to promote sustainable development worldwide in its economic, social and environmental dimensions.
- Europe is the most open market in the world for developing countries’ exports. The EU has granted duty-free and quota-free market access, resulting in over 35 billion euros annually of LDC exports to the EU.
- The EU collectively provides more than half of the global ODA and is committed to collectively achieving the UN 0.7% ODA/GNI target within the timeframe of the post-2015 agenda. We call on others to follow us.
- The EU will make sure that at least 20% of its spending will address climate change objectives.
- Implementing sustainable development goes far beyond financial commitment. For instance, capacity building and cooperation in the field of science, technologies and innovation are key components to realise the SDGs.
- Policy coherence at all levels by all countries should be at the core of our new global partnership. We must all assess the impact of our policy decisions on poverty and on sustainable development including climate change.
Three figures illustrating the leading role of the EU in implementing the Post-2015 Agenda:
- €58 billion: This is the figure of EU collective ODA in 2014 which makes it the world’s largest donor by far. In line with this role, the EU took a particularly ambitious commitment to achieve the UN 0.7% target within the timeframe of the post-2015 agenda, including a specific effort for countries most in need (0.15-0.20% to Least Developed Countries (LDCs) in the short-term, 0.20% within the timeframe of the post-2015 agenda).
- €100 billion: This is the amount the EU estimates to mobilise through blending by 2020. EU investments of up to €8 billion should generate over €40 billion from public finance institutions which should help mobilise over €100 billion in total from private sources by 2020. The EU has been a pioneer in leveraging additional finance for sustainable development. Given the scale of the challenges ahead, using the catalytic potential of public finance to unlock additional investments will be crucial.
- €35 billion: minimum estimated annual value of Least Developed Countries’ (LDCs) exports to the EU. The annual benefit of the Duty Free Quota Free treatment amounts to 12% of the LDCs’ export value. – This is but one example of how EU policy has a positive impact on partner countries. Setting the right policy framework at home and internationally will be key to achieving sustainable development.