United Nations World Summit Outcome, New York, 14-16 September 2005

Sectors : Domestic resource mobilisation, Investment, Political governance, Aid volume, International trade: market access, subsidies and aid for trade, Debt relief, Quality of aid, Financial Institutions, markets, services and microfinance, Infrastructure General
Organisation : UN
Date made: 
2005
Level: 
Heads Of State
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Commitments in: Financing for Development - Domestic resource mobilisation

“24. ...We undertake to support the efforts of developing countries to create a domestic enabling environment for mobilizing domestic resources. To this end, we therefore resolve:

(a) To pursue good governance and sound macroeconomic policies at all levels and support developing countries in their efforts to put in place the policies and investments to drive sustained economic growth, promote small and mediumsized enterprises, promote employment generation and stimulate the private sector;
(b) To reaffirm that good governance is essential for sustainable development; that sound economic policies, solid democratic institutions responsive to the needs of the people and improved infrastructure are the basis for sustained economic growth, poverty eradication and employment creation; and that freedom, peace and security, domestic stability, respect for human rights, including the right to development, the rule of law, gender equality and market-oriented policies and an overall commitment to just and democratic societies are also essential and mutually reinforcing;
(c) To make the fight against corruption a priority at all levels and we welcome all actions taken in this regard at the national and international levels, including the adoption of policies that emphasize accountability, transparent public sector management and corporate responsibility and accountability, including efforts to return assets transferred through corruption, consistent with the United Nations Convention against Corruption. We urge all States that have not done so to consider signing, ratifying and implementing the Convention;
(d) To channel private capabilities and resources into stimulating the private sector in developing countries through actions in the public, public/private and private spheres to create an enabling environment for partnership and innovation that contributes to accelerated economic development and hunger and poverty eradication;
(e) To support efforts to reduce capital flight and measures to curb the illicit transfer of funds.”

Scope: 
International/Africa

Commitments in: Financing for Development - Aid volume

“22. ...we resolve:
...(c) To support efforts by developing countries to adopt and implement national development policies and strategies through increased development assistance, the promotion of international trade as an engine for development, the transfer of technology on mutually agreed terms, increased investment flows and wider and deeper debt relief, and to support developing countries by providing a substantial increase in aid of sufficient quality and arriving in a timely manner to assist them in achieving the internationally agreed development goals, including the Millennium Development Goals;"

Scope: 
International/Africa

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

“35. We reaffirm the commitment to broaden and strengthen the participation of developing countries and countries with economies in transition in international economic decision-making and norm-setting, and to that end stress the importance of continuing efforts to reform the international financial architecture, noting that enhancing the voice and participation of developing countries and countries with economies in transition in the Bretton Woods institutions remains a continuous concern.

36. We reaffirm our commitment to governance, equity and transparency in the financial, monetary and trading systems. We are also committed to open, equitable, rule-based, predictable and non-discriminatory multilateral trading and financial systems.

37. We also underscore our commitment to sound domestic financial sectors, which make a vital contribution to national development efforts, as an important component of an international financial architecture that is supportive of development.”

Scope: 
International/Africa

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

“25. We resolve to encourage greater direct investment, including foreign investment, in developing countries and countries with economies in transition to support their development activities and to enhance the benefits they can derive from such investments. In this regard:

(a) We continue to support efforts by developing countries and countries with economies in transition to create a domestic environment conducive to attracting investments through, inter alia, achieving a transparent, stable and predictable investment climate with proper contract enforcement and respect for property rights and the rule of law and pursuing appropriate policy and regulatory frameworks that encourage business formation;
(b) We will put into place policies to ensure adequate investment in a sustainable manner in health, clean water and sanitation, housing and education and in the provision of public goods and social safety nets to protect vulnerable and disadvantaged sectors of society;...”

Scope: 
International/Africa

Commitments in: Infrastructure - Infrastructure General

“68. ...We...resolve:...
...(c) To support the building of an international infrastructure consortium involving the African Union, the World Bank and the African Development Bank, with the New Partnership for Africa’s Development as the main framework, to facilitate public and private infrastructure investment in Africa;”

Scope: 
International/Africa