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IFIs Offer Support for Global Partnership to Eradicate Extreme Poverty

banner-letter17 July 2013: In a joint letter addressed to UN Secretary-General Ban Ki-moon, seven international financial institutions (IFIs) express their intention to contribute to the task defined by the High-level Panel on the Post-2015 Development Agenda (HLP). They also outline ways the UN can ensure that everyone involved is "fully prepared for 2016."

The African Development Bank (AfDB), Asian Development Bank (ADB), European Bank for Reconstruction and Development (EBRD), European Investment Bank, Inter-American Development Bank (IDB), International Monetary Fund (IMF) and the World Bank Group convey support for the five "transformative shifts" outlined in the Panel's report of May 2013: leave no one behind; put sustainable development at the core; transform economies for jobs and inclusive growth; build peace and effective, open and accountable institutions for all; and forge a new global partnership.

Noting their institutions' analytical and investment programs, the signatories offer specific forms of support for the five shifts, inter alia: support the translation of the post-2015 goals into country-specific targets, indicators and programmes, while enhancing monitoring; help construct an analytical agenda broadly aligned with the five shifts and the continued development of the illustrative goals and targets articulated by the HLP; collaborate to build governments' statistical capacity; and assist in developing a robust and strategic framework for financing the post-2015 development framework, including by working to maximize the impact of ODA, support new development partnerships, leverage the private sector, deliver global and regional public goods, and tap new sources of finance, and using their current mix of public and private investment and guarantee instruments to better effect. They also note that their institutions are ready to participate in a financing conference to discuss these ideas.

The letter also calls for "rapid convergence" of the Sustainable Development Goals (SDGs) and post-2015 processes, resulting in a single agenda around which governments and development partners can begin to build implementation strategies, develop baseline indicators and enhance financing strategies. [IMF Press Release][IDB Press Release][AfDB Press Release][ADB Press Release][World Bank Press Release] [Joint Letter] [A New Global Partnership: Eradicate Poverty and Transform Economies through Sustainable Development]