New deal struck on development financing at Addis conference

Addis_Abeba06_(Sam_Effron)The UN General Assembly has endorsed a new global action agenda for financing the sustainable development goals at the third annual conference on Financing for Development held in Addis Ababa from the 13-16 July 2015.

The Addis Ababa Action Agenda has produced mixed reactions – hailed as “historic” by the UN, reactions elsewhere have been more mixed, with widespread frustration at the failure to establish a global tax body.

You can find further analysis on the agreement on the Guardian and the UN blog.

Commonwealth Deputy Secretary General Maharaj spoke at the conference, urging delegates to “seize the opportunity” and calling for a focus on inclusivity and non-traditional sources of finance.

Reactions from Commonwealth delegates to the Conference can be viewed here and a 60 second summary of the Addis Summit put together by the Commonwealth Secretariat can be accessed here. See also Commonwealth Foundation Director Vijay Krishnarayan’s blog reflecting on the event.