As we know, Africa is home to bunch of fragile states with huge illiteracy rate, high number of unemployed youth, bad economic governance, weak and unclear investment plan for priority sectors for development and, at the same time, the beloved continent is full of invaluable and unexploited resources. According to policy-makers and specialists, there is a strong linkage between, in one hand, emerging conflicts, extreme poverty and, in the other hand, the way priority sectors and financing channels are identified in African countries. In fact, political economists would suggest the need for paradigmatic shift in African countries financial models of programs and development, precisely at the era of the Sustainable Development Goals (SDG).
That’s where the Third Summit on Financing for Development comes in as entry point.
You may be aware, the third financing for Development Summit (or FfD3) is scheduled for this year from 13 to 16 July 2015 in Addis Ababa and “will feature high-level negotiations between developed and developing countries for a framework to finance the post-2015 sustainable development agenda. This new development financing architecture is anticipated to emphasize a broad range of issues, including domestic resource mobilization and tax reform, new commitments on financial development assistance (ODA) to poor countries, debt and macroeconomic policies, climate change financing, the role of private sector finance in development, and the need for global and regional cooperation to monitor the implementation of the agreed financing framework.” Read the Draft revised version of the proposed Addis Ababa Accord (click here)
So, for the OXFAM, “in spite of the global momentum towards the FfD 3 Summit, there is insufficient public awareness and mobilization of strategic constituencies at the Pan-African level to engage with the AU on the FfD 3 Summit, and in general, Africa’s priorities in the context of the emerging global consensus on development financing”; thus a joint event with the African Union Commission to discuss Financing for (Africa) Development, the way forwards.
“The session will provide an optimal policy dialogue platform for all interested stakeholders to add their voices in the on-going debate with a view to respond in a transformative manner to Africa’s fundamental development challenges in the spirit of mobilizing and channeling domestic and external resources to achieve inclusive and sustainable development during the next decade and beyond”
Topics to be discussed include:
- Assessment of the achievements of FfD 3 and overview of International Financing for Development;
- Africa’s expectations on the third Financing for Development Summit;
- Civil Society Views on the Third Financing for Development Summit.
Definitely, the usefulness of this exercise lies in the fact that, given the current state of Africa and planning for the future, the realization of an “Africa that is prosperous, in peace with herself and plays a prominent role in the global arena,” will depend on the suitable manner through which we will take advantage of this forth coming negotiation round (FfD)!
Be part of the discussion!!!
Mark the date: Tuesday 19th, May 2015, Time: 2pm to 6pm,
Official hash tag: #AfricaPost2015, Secondary hash tags: #FfD, #Post2015, #Fin4Dev,
Note: To attend the conference, you can come to the AUC headquarters in Addis on the date of the conference and register at the gate. More info, contact: Mrs. Selam Abraha (E-mail: Selam.Abraha@oxfaminternational.org ), Tel: +251 116 611601, Ms. Ambela Barbara (E-mail: Ambelab@africa-union.org ) Tel: +251 115 182668. Get more documention on the FfD here.