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UN conference ends with framework on financing for sustainable dev't

Xinhua, July 17, 2015 Adjust font size:

The 3rd International Conference on Financing for Development was wrapped up on Thursday in the Ethiopian capital Addis Ababa.

With world leaders gathered from July 13 to 16 to discuss financing the sustainable development in the next 15 years, the Conference has reached agreement on a document called the Addis Ababa Action Agenda, a financing framework which will support the implementation of the UN-led Post-2015 Development Agenda.

"This agreement is a critical step forward in building a sustainable future for all. It provides a global framework for financing sustainable development," said UN Secretary General Ban Ki-moon.

"The Addis Ababa Action Agenda is a major step forward in building a world of prosperity and dignity for all. It revitalizes the global partnership for development, establishes a strong foundation for implementation of the post-2015 development agenda, and points the way for all stakeholders for smart investments in people and the planet where they are needed, when they are needed and at the scale they are needed," he said.

The Addis Ababa Action Agenda, which is due to be adopted by world leaders this September in New York, contains more than 100 concrete measures addressing all sources of finance, and covering cooperation on a range of issues including technology, science, innovation, trade and capacity building.

In the Addis Ababa outcome document by the 193 UN member states attending the Conference, countries agreed to an array of measures aimed at widening the revenue base, improving tax collection, and combatting tax evasion and illicit financial flows.

Countries also reaffirmed their commitment to official development assistance, particularly for the least developed countries, and pledged to increase South-South cooperation.

At the conclusion of the Conference, Prime Minister Hailemariam Desalegn of Ethiopia said that the outcome document of the Conference would constitute an important contribution to support the implementation of the post-2015 development agenda.

"The world has gathered here in Addis Ababa to agree on a document that will guide our international efforts on sustainable development for the next decade and half," noted the Premier. Endi