Finance Ministry, together with co-host Bangladesh, convened a consultative side event on the eve of the senior level meeting (SLM) of the Global Partnership for Effective Development Cooperation (GPEDC) in New York, today.
As the GPEDC’s senior level meeting will advance global commitments on development effectiveness, the side event – for two days – provided a forum for consultation with countries in the Asia-Pacific region to capture country-level perspectives, towards ensuring that the priorities of countries in the region are reflected in the deliberations of the SLM. Nepal, a member of the GPEDC Steering Committee representing recipient countries in Asia, organised the side event to ensure that the views of their constituency are well represented in the GPEDC global dialogue.
The side event – organised with the support of UNDP and DFID – brought together over 40 participants, including government representatives from 10 countries in the Asia-Pacific region, as well as from civil society, private sector, parliaments, multilateral organisations, and cooperation provider countries. A panel of eight distinguished speakers featured government representatives from Nepal, Bangladesh, Cambodia, Indonesia, Myanmar, the Philippines, Japan, and UNDP.
Nepal has a significant financing gap to achieve the Sustainable Development Goals (SDGs). The National Planning Commission (NPC) has estimated that the average investment requirement is approximately Rs 2,025 billion per year, or about 48 per cent of GDP on average, with Official Development Assistance (ODA) expected to shoulder about 18 per cent of the financing requirement.
In his remarks, finance secretary Rajan Khanal, representing an LDC, emphasised that the core commitments of aid effectiveness matter to LDCs, in very concrete and practical ways. “To partner countries like Nepal, the quality of aid still matters,” he said, appreciating the role of the GPEDC. “The commitments and exchange of experiences on development effectiveness at global level underpins our efforts at national level to improve the effectiveness of development cooperation.”
“Achieving the SDGs requires financial resources on a very large scale, but financing alone is not enough”, said UNDP’s Regional Bureau for Asia and the Pacific Claire Van der Vaeren. “Effectiveness, the question of how we do development, is just as important,” she said, adding that it is critical that resources are used within a framework of accountability; that there is strong ownership by partner countries and a focus on results; and that development is pursued through inclusive partnerships.
Likewise, joint secretary of the International Economic Cooperation Coordination Division (IECCD) under Finance Ministry Shreekrishna Nepal will be speaking in the closing session of the meeting tomorrow, where he will share key messages and expressions of action which emerged from the side event discussions.
As the GPEDC’s senior level meeting will advance global commitments on development effectiveness, the side event – for two days – provided a forum for consultation with countries in the Asia-Pacific region to capture country-level perspectives, towards ensuring that the priorities of countries in the region are reflected in the deliberations of the SLM. Nepal, a member of the GPEDC Steering Committee representing recipient countries in Asia, organised the side event to ensure that the views of their constituency are well represented in the GPEDC global dialogue.
The side event – organised with the support of UNDP and DFID – brought together over 40 participants, including government representatives from 10 countries in the Asia-Pacific region, as well as from civil society, private sector, parliaments, multilateral organisations, and cooperation provider countries. A panel of eight distinguished speakers featured government representatives from Nepal, Bangladesh, Cambodia, Indonesia, Myanmar, the Philippines, Japan, and UNDP.
Nepal has a significant financing gap to achieve the Sustainable Development Goals (SDGs). The National Planning Commission (NPC) has estimated that the average investment requirement is approximately Rs 2,025 billion per year, or about 48 per cent of GDP on average, with Official Development Assistance (ODA) expected to shoulder about 18 per cent of the financing requirement.
In his remarks, finance secretary Rajan Khanal, representing an LDC, emphasised that the core commitments of aid effectiveness matter to LDCs, in very concrete and practical ways. “To partner countries like Nepal, the quality of aid still matters,” he said, appreciating the role of the GPEDC. “The commitments and exchange of experiences on development effectiveness at global level underpins our efforts at national level to improve the effectiveness of development cooperation.”
“Achieving the SDGs requires financial resources on a very large scale, but financing alone is not enough”, said UNDP’s Regional Bureau for Asia and the Pacific Claire Van der Vaeren. “Effectiveness, the question of how we do development, is just as important,” she said, adding that it is critical that resources are used within a framework of accountability; that there is strong ownership by partner countries and a focus on results; and that development is pursued through inclusive partnerships.
Likewise, joint secretary of the International Economic Cooperation Coordination Division (IECCD) under Finance Ministry Shreekrishna Nepal will be speaking in the closing session of the meeting tomorrow, where he will share key messages and expressions of action which emerged from the side event discussions.
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