Minister announces Canada’s support for several initiatives that demonstrate innovative financing and technologies
July 18, 2015 - Addis Ababa, Ethiopia - Foreign Affairs, Trade and Development Canada
The Honourable Christian Paradis, Minister of International Development and La Francophonie, today concluded successful meetings at the Third International Conference on Financing for Development, where heads of state or government, ministers of finance, foreign affairs and development cooperation, and other special representatives from the international community gathered to discuss innovative ways to finance the United Nations Post-2015 International Development Agenda.
Minister Paradis underscored Canada’s commitment and leadership in leveraging innovative approaches to deepening and broadening the pool of financial resources available to reduce poverty in the developing world. As the chair of the Steering Committee of the Redesigning Development Finance Initiative (RDFI), a joint undertaking of the World Economic Forum and the Organisation for Economic Co-operation and Development (OECD), the Minister also led discussions on ways to harness more private investment in developing countries.
The Canadian delegation was actively involved in the negotiations that led to the Addis Ababa Action Agenda, the final outcome document of the conference, which reflects the changing economic environment and will frame the development finance agenda through to 2030.
Minister Paradis announced Canada’s support toward a number of initiatives with key development partners, including bilateral projects in Ethiopia and the broader African region, as well as initiatives that demonstrate innovative financing and technologies that will encourage the private sector to create products and services to advance sustainable development and save the lives of women, newborns and children in developing countries—Canada’s top development priority.
Highlights include:
- Building on the work he led for the RDFI of the World Economic Forum and the OECD, Minister Paradis announced a new platform called Convergence, which will support and enable the blending of private, public and philanthropic capital for the greater good.
- World Bank Group President Dr. Jim Yong Kim announced the creation of the new Centre of Excellence for Civil Registration and Vital Statistics, in support of the Global Financing Facility’s efforts to contribute to universal registration by 2030. Minister Paradis announced Canada’s commitment to the establishment of the new Centre in Canada, where it will operate at the International Development Research Centre.
- Minister Paradis met with high-level officials of the Government of Ethiopia, the African Union and La Francophonie to reinforce Canada’s commitment to Africa’s development progress in shared priority areas, such as food security; sustainable economic growth, including in the extractives sector; and maternal, newborn and child health (MNCH).
- Minister Paradis signed a mutual accountability framework with Ahmed Shide, Ethiopia’s State Minister of Finance and Economic Development. The framework identifies clear measures and commitments that will strengthen cooperation between Canada and Ethiopia, and will help achieve sustainable development results and progress on key issues to reduce poverty for Ethiopian citizens.
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