20 years after Monterrey, the UN Development Financing process is more important than ever

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20 years after Monterrey, the UN Development Financing process is more important than ever

This week, exactly 20 years ago, world leaders adopted the Monterrey Consensus of the United Nations. They pledged to “address the challenges of financing for development” with a global response and to create a fully inclusive and equitable global economic system. The Consensus included the essential recognition that in a globalizing, interdependent world economy, “national development efforts must be supported by a favorable international economic environment”. This was the birth of the UN’s Financing for Development (FfD) process which now – 20 years later – is more important than ever.

Read our opinion piece here.


News & analysis

Civil Society Warns World Bank: Business Enabling Environment Project Is a Rebrand of Disgraced Doing Business Report and Must Be Abandoned

Last week, the World Bank closed a consultation process on its plans to replace the discontinued Doing Business Report (DBR) with the Business Environment Project (BEE). A coalition of CSOs presented a submission in strong terms claiming that this is a rebranding exercise that does not address the fundamental issues of the Bank’s engagement in private sector advice.

Civil Society Statement on the IMF’s First-Ever Gender Equality Strategy

by the Bretton Woods Project

The IMF is developing its first-ever gender mainstreaming strategy with the ambition to integrate a gender perspective into core operations in lending, surveillance, and technical assistance.

This month, a group of 16 civil society and women’s rights organizations – including Eurodad – along with 30 other signatories, submitted a joint statement in response to the strategy’s concept note. The group formulated a set of key policy demands based on a commitment to critically assess the gender impact of the Fund’s conventional fiscal, monetary and labor market policy advice.

Read the statement here.


Reports

Analysis of the flows of European Union institutions for Total Public Support for Sustainable Development (TSDD)

by ActionAid

This report analyzes the first set of data on Total Official Support for Sustainable Development (TSDD) from European Union (EU) institutions. It examines the scope of what has been reported by EU institutions and identifies trends and issues arising from the first cycle.


Useful resources

Monterrey+20. An Introduction to the UN Development Financing Process

by Global Policy Forum and Bischöfliches Hilfswerk MISEREOR

This briefing paper provides an overview of current challenges in different development finance action areas, including an overview of the UN FfD process and international agreements on development finance. Based on the analysis, it identifies 10 key levers for financing sustainable development.

IPCC report: what does it say about debt and climate finance?

By Jubilee Debt Campaign

The latest report from the Intergovernmental Panel on Climate Change recognized that tackling unsustainable debt is key to addressing the climate crisis. Debt creates a vicious circle, where the failure of low-income countries to invest in adaptation exposes them to ever-increasing damages from climate-related disasters, driving them deeper into debt to pay for reconstruction.


Jobs

European Union (EU) Advocacy Advisor

Action Aid Europe | Brussels | Deadline: March 30


Events

March 22 | A feminist and decolonial view of debt and climate change

Watch our webinar Feminist and decolonial vision on debt and climate change, organized within the framework of the NGO CSW66. Recording is available in Spanish and English.

March 14 | Tax justice for a feminist and transformative revival

To kick off the Global Days of Action on Tax Justice for Women’s Rights 2022, the Global Alliance for Tax Justice hosted a discussion on how to advance tax justice to foster a feminist and transformative economic recovery, and achieve gender equality and women’s rights.

March 14 | FORO INTERNACIONAL – Deuda externa y desarrollo económico

Rewatch LATINDADD’s webinar on how debt is a quasi-compulsory source of financing for developing countries for which the public will pay the price. The webinar was held in Spanish.

Coming soon!

June 9-10 | Eurodad Conference 2022

Save the date for the Eurodad 2022 conference – Reboot the system: Defining common strategies for economic justice!

Registrations will open soon.


This newsletter has been produced with co-funding from the European Union, Bread for the World and Norad. The contents of this publication are the sole responsibility of Eurodad and can in no way be taken to reflect the position of the funders.
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