Doha Follow Up Declaration on Financing for Development, Doha, Qatar, 29 November-2 December 2008

Sectors : Employment and Training, Environmental degradation and natural resource management, Climate change - general, International partnerships and support for Pan-African institutions, Conflict resources, Financial Institutions, markets, services and microfinance, Gender and economic opportunity, Sustainable development, Investment
Organisation : UN
Date made: 
2008
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Commitments in: Private Sector development and financial services for the poor - Employment and Training

“We will strengthen national and international efforts aimed at maximizing linkages with domestic production activities, enhancing the transfer of technology and creating training opportunities for the local labour force, including women and young people. It is also important to enact and uphold, as appropriate, labour and environmental protection and anti-corruption laws and regulations in accordance with obligations undertaken in relevant international conventions...We reaffirm that every State has, and shall freely exercise full permanent sovereignty over, all its wealth, natural resources and economic activity. We support measures to enhance corporate transparency and accountability of all companies, taking into account the fundamental principles of domestic law.”

Scope: 
International

Commitments in: Development partnerships - International partnerships and support for Pan-African institutions

“We commit ourselves to reinvigorating the global partnership for development in order to effectively address the full range of financing for development challenges facing the world today. We recognize that multiple financing for development challenges and opportunities have emerged since the Monterrey Conference, including the impact of the financial crisis, additional costs of climate change mitigation and adaptation and damage to the Earth’s environment, price volatility in international markets of key commodities, expanding economic cooperation and the growing needs for reconstruction and development of postconflict countries. We reaffirm our resolve to take concerted global action to address all these areas while consistently furthering economic and human development for all.”

Scope: 
International

Commitments in: Private Sector development and financial services for the poor - Financial Institutions, markets, services and microfinance

“In order to foster private-sector development, we shall endeavour to promote an enabling environment that facilitates entrepreneurship and doing business by all, including women, the poor and the vulnerable...We will continue to pursue appropriate policy and regulatory frameworks at our respective national levels and in a manner consistent with national laws to encourage public and private initiatives, including at the local level, and to foster a dynamic and well-functioning business sector, while improving income growth and distribution, raising productivity, empowering women and protecting labour rights and the environment.”

Scope: 
International

“We will make sure that the benefits of growth reach all people by empowering individuals and communities and by improving access to services in the fields of finance and credit. We recognize that microfinance, including microcredit, has proven to be effective in generating productive self-employment, which can contribute to the achievement of the internationally agreed development goals, including the Millennium Development Goals.”

Scope: 
International

“To strengthen the resilience of the international financial system, we will implement reforms that will strengthen the regulatory and supervisory frameworks of financial markets as needed. We will strive to improve key accounting standards to remedy weaknesses and deficiencies, including those exposed by the current financial crisis... We will further enhance cooperation among national regulators from all countries to strengthen international financial standards.”

Scope: 
International

“We will exercise strong oversight over credit rating agencies, consistent with the agreed and strengthened international code of conduct, and take additional action to strengthen financial market transparency and enhance the convergence of global accounting standards.”

Scope: 
International

Commitments in: Private Sector development and financial services for the poor - Investment

“We recognize that private international capital flows, particularly foreign direct investment, are vital complements to national and international development efforts...We will seek to enhance such flows to support development. In this context, we will strengthen national, bilateral and multilateral efforts to assist developing countries in overcoming the structural or other constraints which currently limit their attractiveness as a destination for private capital and foreign direct investment.”

Scope: 
International

“We will enhance efforts to mobilize investments from all sources in human resources, transport, energy, communications, information technology and other physical, environmental, institutional and social infrastructure that serve to strengthen the business environment, enhance competitiveness and expand trade in developing countries and economies in transition...Countries need to continue their efforts to achieve a stable and predictable investment climate, with proper contract enforcement and respect for property rights. We will continue to put in place transparent and appropriate regulations at the national and international levels.”

Scope: 
International