The Third Financing for Development Conference

The 3rd Conference on Financing for Development took place on 13-16 July in Addis Ababa, Ethiopia. Countries agreed on a series of bold measures to overhaul global finance practices and generate investments for tackling a range of economic, social and environmental challenges. The groundbreaking agreement, the Addis Ababa Action Agenda, provides a foundation for implementing the global sustainable development agenda that world leaders are expected to adopt this September. The agreement was reached by the 193 UN Member States attending the Conference, following negotiations under the leadership of Ethiopian Foreign Minister Tedros Adhanom Ghebreyesus However Civil Society Organizations have reiterated that the Addis Ababa Action Agenda (AAAA) lost the opportunity to tackle the structural injustices in the current global economic system and ensure that development finance is people-centered and protects the environment. CSOs indicate that the outcome does not rise to world’s current multiple challenges, nor does it contain the necessary leadership, ambition and practical actions. It undermines agreements in the Monterrey Consensus and the Doha Declaration and it is almost entirely devoid of actionable deliverables. On the specific issue of equity and tax justice CSOs argue that the Addis Ababa Action Agenda fails to establish an intergovernmental, transparent, accountable, adequately resourced tax body with universal membership that could lead global deliberations on international tax cooperation, stop illicit financial flows and tackle corporate tax dodging, reasserting the current undemocratic and profoundly unfair status quo. Read more about the FFD3 Conference outcome here Find out more about the CSOs reactions to the conference here