Addis Ababa, July 16, 2015(WIC) – Countries participated in the third International Conference on Financing for Development has adopted Addis Ababa Action Agenda for sustainable development.
During the closing session of the conference, president of the General Assembly, Prime Minister Hailemariam Desalegn said Addis Ababa Action Agenda for sustainable development is agreed within four days of the conference targeted to promote sustainable development.
According to Hailemariam, this week is the milestone for the development of the world in which the world waiting with great inspiration to say no one is behind in development aspects.
The four day conference resulted in offering the largest share of official development assistance (ODA) for the least developing countries (LDCS) ,said the prime minister, developed nations targeted to allocate 0.7 percents of the gross national income for assistance in which 0.15 to 0.20 will be for least developing countries.
The conference recognizes the essential role of the private sector towards catalyzing development, said the prime minister, strengthening the private –public integrated investment can truly speed up the economic growth of the developing nations.
Ethiopia has a vision to become middle income countries by 2025 said the prime minister, fast economic growth of the nation together with rapid growth of the foreign direct investment with the strategy of carbon free emission green economy expected to meet the targeted goal.
The 3rd International conference on financing for development has countless collection of ideas from participants in more than 200 side events, said the prime minister , the outstanding work on various principles will resulted in the near future.
Representative of south Africa on behalf of the G-77 and C hina ,said that the group has spent many months to identify the critical obstacles for eradication of poverty, provision for capacity building and technology transformations work are the constructive recommendations presented for the agenda.
Fundamental principles to change the livelihoods of the people of developing nations were raised during the discussions of the conference, said the representative, the partnerships engagement with the whole corners of the world can create a better world.
The world bank , IMF and other development banks announced to donate 400 bln USD for the achievement of sustainable development goals.