Mangala at ECOSOC

Mangala Samaraweera at ECOSOC : Financial commitments are increasingly challenging

by Staff Writer 17-04-2019 | 5:31 PM
Colombo (News 1st): Minister of Finance Mangala Samaraweera is currently representing Sri Lanka at the United Nations Economic and Social Council's (ECOSOC) Forum on Financing for Development, which is being held in New York. The 2019 Financing for Development Forum, as the centre-piece of the Financing for Development follow-up process, has a dual task to review the implementation of the Addis Ababa Action Agenda of the past 04 years; and forge consensus among increasingly divergent views and spread policy know-how to advance implementation against rising economic and non-economic risks. Speaking at the General Debate of the Financing for Development forum, Minister Samaraweera explained certain measures taken by Sri Lanka including the 2019 budget to address identified challenges in sustainable and equitable development. Stating that financial commitments are increasingly challenging for countries like Sri Lanka that are subject to significant fiscal constraints, the Minister emphasised the need for international cooperation for supporting measures to prevent and mitigate the impacts of climate change in vulnerable economies. The Minister urged for greater public-private partnerships and multi-stakeholder initiatives globally, to ensure the successful achievement of the Sustainable Development Goals (SDGs) so that no one is left behind.