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'Historic' agreement reached on financing for new UN sustainable development agenda

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15 July 2015 – Countries agreed today 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, Ethiopia.

“This agreement is a critical step forward in building a sustainable future for all. It provides a global framework for financing sustainable development,” UN Secretary-General Ban Ki-moon said after negotiators reached the deal at the Conference, which has been running in the Ethiopian capital since Monday, 13 July, and officially wraps up its work tomorrow.

“It gives us the foundation of a revitalized global partnership for sustainable development that will leave no one behind,” said of the groundbreaking agreement, which will be known as the Addis Ababa Action Agenda.

The agreement provides a foundation for implementing the global sustainable development agenda that world leaders are expected to adopt in New York this September and for reaching a binding agreement at UN climate negotiations in Paris in December to reduce global carbon emissions.

It 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.

For the full article please visit this page (from the UN News Centre)