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Raising the FfD4 Zero Draft Ambition: Towards a UN Convention on International Development Cooperation
FfD4 offers a crucial opportunity to establish a new normative framework that places international public finance at the core of a reimagined International Financial Architecture. This framework must address governance, norms, and rule creation; democratize global decision-making spaces; and define the purpose, impact, and effectiveness of development cooperation. It must be grounded in the Right to Development.
Date & Time: Wednesday, February 12, 1:15-2:30 PM (NY Time)
Location: CR-E (In-person only)
Key Discussion Points:
A UN Convention on IDC must:
Establish norm and rule-setting mechanisms for development cooperation, ensuring coherence and democratizing governance.
Provide a unified intergovernmental process under the UN to shape policies and take decisions, with the UN Development Cooperation Forum playing a critical role if granted the appropriate mandate.
Reframe IDC as a matter of justice and reparations, rather than charity, addressing historical inequalities perpetuated by the global economic and political framework.
Establishing Adequate Funding:
Set the UN target for 0.7% GNI as a minimum aid commitment while recognizing the estimated $7.2 trillion in unmet aid/ODA commitments as a debt owed to the Global South.
Convert these unmet commitments into an unpaid ODA debt to create the necessary fiscal space for poverty eradication and addressing inequalities.
Ensuring Development Effectiveness:
Strengthen the principles of development effectiveness by reaffirming national development strategies as the primary driver of needs-based cooperation.
The UN must revitalize and universalize the development effectiveness agenda, ensuring it aligns with contemporary challenges.
Restoring ODA’s Original Vision:
Prevent the diversion of ODA from its intended mandate and ensure its use for poverty eradication and reducing inequality.
Reinstate a universal mandate for development cooperation focused on addressing fundamental social and economic disparities.
Join Us:
This event will bring together experts, Member States, and advocates to call for an ambitious UN Convention on International Development Cooperation.
We look forward to your engagement!
