ADDIS ABABA (Xinhua) — Ethiopia said it has begun preparations to host the 3rd edition of the international conference on development financing in July this year.

The first and second editions of such conference were held in Mexico’s Monterrey and Qatar’s Doha respectively, and the upcoming conference on financing for development (EFD) will be convened from July 13 to 16 in Addis Ababa, capital of the East African nation.

The conference is expected to build on the previous two conferences and to agree the next international statement of how development should be resourced in the post-2015 period, as the internationally agreed millennium development goals (MDGs) come to an end this year.

Having started preparations, Ethiopia is working very hard to successfully host the conference in a coordinated manner in all aspects of the four-day international event, according to the Ethiopian Ministry of Finance and Economic Development.

Abraham Tekeste, Ethiopia’s State Minister of Finance and Economic Development, told reporters on Friday at a press conference that a national inter-ministerial committee has been established to oversee the overall organization of the conference. Having established other two sub-committees, Ethiopia has been closely working with the UN Department for Economic and Social Affairs, the UN Economic Commission for Africa, the African Union, as well as other regional and international institutions towards the success of the event, according to the minister.

He noted that the conference is expected to agree on how to finance sustainable development in the post-2015 period.

“Ethiopia is hosting this conference as this conference is critical for deciding how sustainable development should be resourced in the post-2015 period, and the means of implementation for Sustainable Development Goals,” the minister said.

Ethiopia wants to use the conference to showcase its success to the world on its experience in financing its rapid and sustainable growth, industrialization drive and infrastructure development, according to the minister.

Ethiopia aims to project its new and positive image by exhibiting its diverse culture, tourism and investment opportunities, noted the official. The conference is expected to bring together high-level political representatives including heads of states, ministers and senior officials of finance, foreign affairs and development cooperation, as well as relevant institutional stakeholders, private sector, philanthropy, non-governmental organizations and civil society organizations.

Mexico hosted the first of such meeting in 2002, which resulted in the Monterrey Consensus that established a broad foundation for

financing for development taking into account mobilization of domestic resources, foreign direct investment, official development assistance, trade, debt and systematic issues.

The follow up conference was in Qatar’s Doha in 2008 with update including statements on responding to the financial crisis, climate change and volatile markets, and acknowledged the particular challenges faced by lower middle income countries as well as conflict affected countries.

Source: Xinhua Africa News

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