The Addis Ababa Conference was the first in a series of landmark events leading up to the adoption of a new development agenda and a universal agreement on climate change by the end of this year. The successful outcome gave important positive momentum to the last stretch of negotiations on the post-2015 development agenda, which culminated on 2 August with a final draft of the Sustainable Development Goals to be adopted by Member States at the Sustainable Development Summit in September in New York.

Turning needs into investment opportunities

“Financing needs for sustainable development are high, but the challenges are surmountable,” said UN secretary-General Ban Ki-moon at the opening of the Conference. “The Addis Ababa Action Agenda will help to turn these needs into investment opportunities.”

At FFD3, governments agreed on a package of over 100 concrete measures that draw upon all sources of finance, technology, innovation, trade and data and that will support the implementation the Sustainable Development Goals.

“This framework is a basis both for financing sustainable development and for developing sustainable finance,” said Mr Wu Hongbo, UN DESA’s Under-Secretary-General and Conference Secretary-General.

Collaborating on the formation of breakthrough commitments

Through plenary meetings, round tables, bilateral meetings and almost 200 side events, the various stakeholders in international development – Governments, financial and trade institutions, civil society and business sector entities – got the opportunity to collaborate on the formation of breakthrough commitments and goals across the development spectrum.

As part of the Addis Ababa Action Agenda, countries committed to a new social compact to provide social protection and essential public services for all; a global infrastructure forum to bridge the infrastructure gap; an ‘LDC package’ to support the poorest countries; a Technology Facilitation Mechanism to advance to the SDGs; enhanced international tax cooperation to assist in raising resources domestically; and mainstreaming women’s empowerment into financing for development.

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