UNOPS

22/07/2015

Calls for a new, inclusive approach to development in Addis

A new agreement for financing the post-2015 development agenda, the Addis Ababa Action Agenda, was adopted last week at the Third International Conference on Financing for Development (FFD3), held in Addis Ababa, Ethiopia.

UNOPS Executive Director Grete Faremo joined UN leaders and Heads of State in Addis Ababa, alongside high-level representatives from the private sector, civil society and non-governmental organizations, to discuss how best to finance efforts to tackle major development challenges over the next 15 years.

The debate focused on mobilizing resources from a wider range of international actors ‒ national governments and the private sector, as well as non-governmental organizations ‒ to set the stage for a new, inclusive approach to development.

Speaking at a multi-stakeholder round table on enabling sustainable development, Ms. Faremo stressed the need for coherence, excellence and leadership, as well as reforming development assistance.

"Aid must evolve. Development assistance must be used strategically, to ensure it is not wasted on work that private or domestic funding can do better," stated Ms. Faremo, emphasizing the essential role of the UN in helping private capital better invest in developing countries. Watch the live recording from the round table here.

With the upcoming adoption of the new Sustainable Development Goals in September and the Paris Climate Summit in December, the conference was hailed as a crucial step forward in establishing a strong foundation for building a prosperous and sustainable future.  

The conference counted over 200 side events, including an event on the role of data standards and related initiatives in mobilizing and monitoring development financing, organized by the UNOPS-supported International Aid Transparency Initiative (IATI). IATI was positively referenced in the conference's official outcome document, which recognized the importance of reliable data and the need for greater transparency on development activities. 

Quick links:

Read Grete Faremo's Op-Ed, "The Healthy Turn from Aid to Investment," published in The Wall Street Journal here.

Access the full Addis Ababa Action Agenda here.

Find out more about IATI at FFD3 here.