STATEMENT BY MR EUGENE NG, DELEGATE TO THE 69TH SESSION OF THE UNITED NATIONS GENERAL ASSEMBLY, ON AGENDA ITEM 18 ON THE FOLLOW-UP TO AND IMPLEMENTATION OF THE OUTCOME OF THE 2002 INTERNATIONAL CONFERENCE ON FINANCING FOR DEVELOPMENT AND THE 2008 REVIEW CONFERENCE, SECOND COMMITTEE 21 OCTOBER 2014

Mr Chairman,

1                 I would like to begin by aligning Singapore with the statements by Bolivia, on behalf of the G77 and China, and Indonesia on behalf of the Association of Southeast Asian Nations (ASEAN) on this agenda item. 

2                 Twelve years on from Monterrey and six years on from Doha, the relevance and importance of development financing have not diminished.  At the 2002 International Conference on Financing for Development in Monterrey, Singapore’s then-Minister of State for Foreign Affairs Mr Raymond Lim spoke of inequalities that had increased both amongst nations, and within. These very inequalities still exist today and are still increasing. 

3                 It is thus against this backdrop that 2015 is a critical year for financing for development.  Unlike the 2002 Conference which was held after the Millennium Development Goals (MDGs) had been drawn up, the Third International Conference on Financing for Development will take place before the adoption of the Post-2015 Development Agenda.  This is why the Conference is timely and critical as it will provide us with a holistic picture of the Post-2015 Development Agenda, including the Sustainable Development Goals, by addressing the means of implementation (MOI).  

4                 Singapore stands ready to assist the host of the Conference – Ethiopia – by participating constructively in the Conference and the preparatory process leading up to it.   

Mr Chairman,

5                 Singapore is of the view that the Third Financing for Development Conference will be an opportune forum to reinvigorate the Official Development Assistance (ODA) commitments, as ODA continues to be a critical means of implementation for development.  In addition, we are keen to explore how to leverage on ODA to unlock more financing.  We can also examine how the private sector can contribute to financing for development.

6                 It is vital to create an enabling environment for development financing, which is why Singapore would like to underscore the importance of South-South, North-South, and triangular cooperation in capacity building and sharing of experiences.  Capacity building lends itself to the gaining of experiences and skills by officials, who would in turn, preside over systemic and policy issues that would foster an enabling environment for development financing.  On our part, we have shared our developmental experience and expertise with over 80,000 government officials from 17 countries in the Asia Pacific, Africa, Middle East, Eastern Europe, Latin America, and the Caribbean, through the Singapore Cooperation Programme (SCP), which was established in 1992.

Mr Chairman,

7                 Singapore looks forward to the culmination of a comprehensive and ambitious outcome document on financing for development that will contribute positively to the Post-2015 Development Agenda.  The Rio+20 outcome document called attention to the future we want.  Perhaps the outcome document of the Third International Conference on Financing for Development or Monterrey+ (a term introduced by His Excellency the Permanent Representative of Ethiopia) will envision the future we need, the future we all need.

8                 I thank you.

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