UN chief hails General Assembly's endorsement of action plan on post-2015 development financing

UN Secretary-General Ban Ki- moon on Monday welcomed the UN General Assembly's endorsement of the new global action agenda for financing sustainable development adopted two weeks ago, saying that the 193-member General Assembly 's move represents a major step that firmly puts the world "on the path to a more prosperous, just and sustainable world for this and future generations."

In his statement at the General Assembly when it was considering the new global agenda adopted in Ethiopia, the secretary-general said by endorsing the Addis Ababa Action Agenda, "we launch a new era of cooperation and global partnership."

The outcome document adopted at the Third International Conference on Financing for Development, which took place in Addis Ababa, Ethiopia, on July 13-16, the Action Agenda contains a series of bold measures to overhaul global finance practices and generate investments for tackling a range of economic, social and environmental challenges.

Building on the outcomes of previous development financing conferences held in Monterrey, Mexico, and in Doha, Qatar, the Action Agenda also addresses all sources of finance, and covers cooperation on a range of issues including technology, science, innovation, trade and capacity building.

The secretary-general hailed the development as the foundation for success at the UN summit to adopt the UN post-2015 development agenda, at the UN Headquarters in New York in September, and at the Conference of Parties of the UN Framework Convention on Climate Change (UNFCCC), known informally as COP 21, in Paris of France in December.

"Only by staying engaged will we ensure that the commitments we endorse today will lead to tangible progress on the ground, in all countries and for all people," Ban said.

While commending UN members states for taking this critical step forward, the secretary-general said, "We are now firmly on the path to a more prosperous, just and sustainable world for this and future generations."

For his part, the president of the UN General Assembly, Sam Kutesa, said that the General Assembly's action "will further demonstrate our collective commitment towards eradicating poverty, achieving sustainable development and building a better future for all," urging UN member states to "do whatever it will take to ensure that the Addis Ababa Action Agenda is fully implemented."

With world leaders gathering from July 13-16 to discuss financing the sustainable development in the next 15 years, the Third International Conference on Financing for Development 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.

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 combating 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. Endite