For People and the Planet: The Third International Conference on Financing for Development

By Elshaddai Mesfin*

For People and the Planet”! This is the motto of The Third International Conference on Financing for Development (FFD3) that will take place in Addis Ababa Ethiopia for the next four days. World leaders, heads of the world most important financial institutions, civil societies, investment agencies and concerned stakeholders under the scrutiny of the media will sit down, discuss and hopefully take action on securing a future for the current and upcoming generations on Planet Earth. As Secretary General Ban-Ki Moon highlighted in his message Addis Ababa is hoped to be “the starting point for a new era of a global partnership”.

The rising number of the world population as well as the severity of global warming is being felt everywhere in the world. The world’s population has surpassed 7 billion people and is bound to rise in the next three decades with Africa being home to close to 1billion of the world’s youth. This is the population that needs access not only to basic needs but also education and most importantly to the job (market which is exactly why there is a global need for sustainable development). The Millennium Development Goals (MDGs) have more or less been achieved by most African states who have translated their rising annual GDP growth into investment in public health and education: in other words Africa has managed to satisfactorily provide basic services to its population. But durability and sustainability are needed to keep guaranteeing access of the fruits of the recorded development for the rising African population.

Green solutions are also required especially for the African Continent. Africa accounts for less than 7% of total carbon emissions, but is and will be the most affected by the rising level of global warming. As a continent still very much dependent on agriculture, by 2020, it is projected that in some countries, yields from rain-fed agriculture could be reduced by up to 50% compromising the food security of the continent. An increase of 5 to 8% of arid and semi-arid lands is expected in the continent, adding to the frequency of the droughts in the Sahel region as well as the Horn of Africa. Such predictions are quite costly as the African Development Bank (AfDB) estimates that the costs of adaptation of the continent to such a harsher climate will cost annually US$ 20-30 over the next two decades.

This does not mean that for Africa and the rest of the developing world, the FFD3 should be a platform of plea for aid money, rather a platform for plea of a global partnership for a strategic and sustainable financing for a durable global development. This means that Addis Ababa should be the forum for the call and consolidation of a partnership of world states which consider each other on an equal footing and understand that all 193 states of the world have each an equal leverage on the planet Earth.

Follow the debate and the outcomes of the Conference at http://www.un.org/esa/ffd/

Elshaddai Mesfin Haileyesus (elshaddai.m@ipss-addis.org ) is a research intern in the Research, Policy Analysis and Dialogue (RAPD) Department the Africa Peace and Security Programme (APSP), a joint programme of the Institute for Peace and Security Studies (IPSS) and the African Union (AU). All views expressed in the AfSol blog are solely the views of the authors and do not in any represent the views of the IPSS or APSP. For more information on AfSol Blog, please contact research@ipss-addis.org

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3 thoughts on “For People and the Planet: The Third International Conference on Financing for Development

  1. interesting piece, but it has become a rhetoric these days. Meetings come up but they are all good for the shelves, future reference, and merely expound what is already known at hand. These things have been said and reiterated since Rio.conceptualizing is one things expecting a resounding change is another

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