UN ECOSOC Financing for Development forum : Minister Samaraweera shares Lanka’s experience in inclusive growth | Sunday Observer

UN ECOSOC Financing for Development forum : Minister Samaraweera shares Lanka’s experience in inclusive growth

Finance Minister Mangala Samaraweera at the UN ECOSOC Financing for Development Forum in New York.
Finance Minister Mangala Samaraweera at the UN ECOSOC Financing for Development Forum in New York.

Finance Minister Mangala Samaraweera shared Sri Lanka’s experience in inclusive growth at the Ministerial Financial Dialogue at the UN ECOSOC Financing for Development Forum in New York

Minister Samaraweera represented Sri Lanka at the UN Economic and Social Council (ECOSOC) Forum on Financing for Development (FfD) last week.

It was convened by the President of ECOSOC, Inga Rhonda King.

Participating in the Ministerial Financial Dialogue Panel Discussion on ‘Promoting Inclusive Growth Reducing Inequalities’, the Minister shared with the FfD, measures taken in Sri Lanka towards this end, including details of the ‘Enterprise Sri Lanka’ concessionary loan scheme which was launched in mid-2018 to create 100,000 young entrepreneurs especially in the villages.

The 2019 FfD Forum, as the centre-piece of the FfD follow-up process has a dual task to: review the implementation of the Addis Ababa Action Agenda in the past four years; and forge consensus among increasingly divergent views and spread policy know-how to advance implementation against rising economic and non-economic risks.

It is expected to build momentum towards the first quadrennial high-level dialogue on financing for development, which will take place in September 2019, back-to-back with the High Level Political Forum on Sustainable Development.

Speaking at the General Debate of the FfD, Minister Samaraweera outlined the measures taken by Sri Lanka including in the 2019 Budget to address challenges in sustainable and equitable development.

The Minister said that financial commitments are increasingly challenging for countries such as Sri Lanka that are subject to significant fiscal constraints, and emphasised the need for international cooperation including support measures to prevent and mitigate the debilitating impact of climate change in vulnerable economies.

The Minister called for greater public-private partnerships and multi-stakeholder initiatives globally, to ensure achieveing of the Sustainable Development Goals (SDGs).

Minister Samaraweera met the Executive Director of UNICEF Henrietta H. Fore, and discussed matters on financing for Early Childhood Development (ECD).

The Minister also participated in an interactive dialogue with representatives of the UN Peacebuilding Commission on the invitation of the UN Peacebuilding Support Office.

Secretary-General of the Secretariat for Coordinating Reconciliation Mechanisms (SCRM) Mano Tittawella, Chairperson of the Office on Missing Persons (OMP) Saliya Pieris, and the Chairperson of the Office for Reparations Dhara Wijayatilake were also present.

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