Financing development

The United Nations General Assembly agreed by consensus on 22 Dec 1999 to convene a high-level intergovernmental event on financing for development in 2001 involving political decision-makers at least at the ministerial level. The General Assembly agreed that the high level meeting should consider national, international and systemic issues relating to financing for development in a holistic manner in the context of globalization and interdependence. The event will thus address development through the perspective of finance, as well as the mobilization of financial resources for the full implementation of the outcome of the major UN conferences and summits of the 1990s.

In a new pilot initiative for 2000, the United Nations Development Assistance Framework (UNDAF) has been launched in an attempt to provide a common framework for all development funds, programmes and agencies of the UN system. The exercise also aims to improve coordination of follow-up action to global conferences and relevant decisions of the General Assembly. UNDAF is a key component of the Secretary-General's reform proposal. Action 10 (a) of his Renewing the United Nations: a programme for reform states: "In order to achieve goal-oriented collaboration, programmatic coherence and mutual reinforcement, the United Nations programmes of assistance will be formulated and presented as part of a single United Nations Development Assistance Framework with common objectives and time-frame. Programme funds managed by each of the programmes and funds will be included in the document, but remain clearly identifiable. Preparations would entail collaborating programming and close consultation with Governments, including compatibility with Country Strategy Notes wherever they exist."