Addis Ababa agreeement to generate financing for development

Abstract

Countries today 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 at the United Nations Third International Conference on Financing for Development, being held in Addis Ababa. 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. The agreement, adopted after months of negotiations between countries, marks a milestone in forging an enhanced global partnership that aims to foster universal, inclusive economic prosperity and improve people’s well-being while protecting the environment.