The Commonwealth Secretariat will host a
conference to identify practical solutions to the challenges facing
small states in accessing funding for development.
The Commonwealth Conference on Finance for Development in Small States will take place in Bridgetown, Barbados,
25-26 March 2015, and will bring together senior officials from Ministries of Finance and representatives from national, regional
and international organisations - including UN agencies.
The initiative, which was proposed by the
Commonwealth Open-Ended Ministerial Working Group on Small States, will
prepare small states to effectively participate in the UN’s Third
International Conference on Financing for Development in
Addis Ababa, Ethiopia, in July 2015.
Commonwealth Deputy Secretary-General Deodat
Maharaj stressed the importance of ensuring that the needs of small
states are considered during negotiations at international forums.
He said: “The policies that will be decided at the
UN’s Third International Conference on Financing for Development are
going to have a direct impact on small states’ ability to secure
development finance.
“Our conference in Barbados will allow Commonwealth
small states to identify specific ways in which their financing
concerns, including debt and limited access to concessional resources,
can be highlighted and reflected in the outcome of
the UN meeting.”
The Commonwealth conference will focus on
understanding the implications of the post-2015 financing for
development framework, and deciding how small states can take advantage
of current domestic and international funding opportunities.
The event will also see the launch of the
Commonwealth publication ‘Migration and Development; Perspectives from
Small States’, which examines the relationship between migration and
development in small states.
The book includes case studies from countries in
Africa, the Caribbean and the Pacific, and will inform policy geared
towards reaping the greatest benefits from migration.
Dr Denny Lewis-Bynoe, Commonwealth Small States
Economic Advisor, said: “In a complex global environment with new and
emerging challenges, it is important for these countries to fully
capitalise on opportunities to improve access to finance.
This is critical to their ability to build resilience and achieve their
social and economic development goals in key areas such as education
and health.”