Enhancing finance for the areas discussed in Sessions 2 to 6 of this consultation cannot occur without boosting regional development cooperation. In particular, capacity-building and technical assistance to increase countries’ access to public and private sources of finance is essential for making progress. In this context, it is important to discuss how ODA can be not only increased to fulfill unmet international commitments but also be deployed in the most effective manner and prioritizing countries that need it the most.
Countries in the Asia-Pacific region have become more vulnerable to climate-related natural disasters, while environmental challenges such as air pollution and deforestation continue to escalate in some countries. This session discusses country-level and regional initiatives to address the growing challenges arising from climate change, the promotion of sustainable energy for all, and the dissemination of green technologies.
Cities in the Asia-Pacific region are the engines of economic growth and centres of societal transformation, but rapid urbanization is leading to huge increases in the demand for basic public services, which require financing by local governments. In addition, the generation of decent jobs and increased productivity by private businesses in the cities calls for the provision of financing for technology and small entrepreneurs. This section explores perspective from the region on ways to strengthen local government finances and increase financing for technology and small entrepreneurs.
Given the sheer scale of its financing requirements, infrastructure investment must be tackled from multiple angles, including through mobilizing additional public resources, developing the region’s capital markets, engaging new regional multilateral development banks such as the Asian Infrastructure Investment Bank, and enhancing the use of official development assistance. With respect to capital markets, the development of institutional investors could play an important role given their focus on investing in long-term assets.
Building on the Monterrey Consensus (2002) and the Doha Declaration (2008), the Third International Conference on Financing for Development will deliberate on ways to support the implementation of the emerging sustainable development goals. This session will review the draft outcome document of the Conference and highlight priority issues for the Asia-Pacific region.
•What are the top priorities for the Asia-Pacific region with regards to the Addis Ababa Accord?