Financing for Development

Crowd walking on Yaowarat Road Chinatown Bangkok. All the area is very popular at night because of the excellent street food

The Addis Ababa Action Agenda (AAAA) adopted at the Third International Conference on Financing for Development in July 2015 provides a comprehensive and integrated framework for financing sustainable development, and thus supporting the implementation of the 2030 Agenda for Sustainable Development. To support member States in the implementation and follow-up of the AAAA, ESCAP has been conducting annual high-level regional consultations on financing for development since 2014.

An important priority expressed by ESCAP member States in these consultations has been to promote further cooperation in the region in the area of domestic resource mobilization, which includes taxation and the management of public expenditures. Taxation, in particular, is important because not only it contributes funding for needed social, environmental and infrastructure investments but also can play an important role in promoting equity and creating correct incentives for responsible practices of non-government sectors. As member States gear up for the implementation of the AAAA, enhancing their capacity to develop modern taxation and public spending systems will be key for the region to achieve shared prosperity and deliver on the Sustainable Development Goals.