Minister Jacobs participates in the 5th High Level Dialogue on Financing For Development
On 7 December, Luxembourg's Minister for Development Cooperation and Humanitarian Affairs, Marie-Josée Jacobs, intervened at the General Assembly's 5th High Level Dialogue on Financing For Development. In her speech, the Minister underlined the importance to respect all commitments for financing for development, starting with the allocation of at least 0.7% of Gross National Income to Official Development Assistance; she recalled that Luxembourg's ODA had reached 1.05% of GNI in 2010.
In reference to the spirit of inclusive participation, partnership and transparency, which had reigned at the Conferences of Monterrey and Doha, the Minister called upon all the stakeholders present, traditional and emerging donors, developing country partners, civil society, private sector and international financial institutions, to work together to make available the necessary financial resources to ensure sustainable socio-economic development. The identification of innovative sources of financing for development, both public and private, is also of great interest. By recalling the commitment of Luxembourg and its development partners, notably with regards to microfinance over the past 15 years, the Minister also emphasised the importance of quality and effectiveness of ODA at the service of sustainable development results.