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Intervention by New York, 13 October 2004 Let me begin, on behalf of the Indonesian delegation, by thanking the Under-Secretary-General for Economic and Social Affairs for introducing the report of the Secretary-General on follow up to and implementation of the outcome of the international conference on financing for development and on innovative sources of financing for development contained in documents A/59/270 and A/59/272. We also thank the United Nations University and World Institute for Development Economic Research for their study on “New Sources of Development Finance: Funding the Millennium Development Goals”. We also wish to associate ourselves with the statement by Qatar on behalf of the Group of 77 and China. Mr. Chairman, My delegation would like to express its views on several pertinent issues on financing for development. Much has been said on financing for development. Yet, the question that needs to be urgently answered is what could and should be done to implement our shared commitments on the Monterrey Consensus and at the same time achieve the Millennium Development Goals. In this regard, it is always important that we approach implementation of the Monterrey Consensus with a clear sense of urgency. Moreover, a greater impact can be reached if an enabling environment is established and operational. We are seeing a continuous effort by developing countries to mobilize domestic resources to stimulate development. I would like to emphasize in particular that more attention should be paid to rural development. Therefore, better access of SMEs, micro-enterprises, the poor, and women to the financial system through such facilities as micro-finance and micro-credit should be further enhanced. In the same vein, international financial resources would greatly augment domestic efforts. The role of ODA cannot be further emphasized in our pursuit of achieving the MDGs. As demonstrated throughout the years, aid has indeed contributed to the improvement of social conditions in developing countries. However, international assistance programs and multilateral agreements should allow adequate policy space for developing countries to implement nationally diverse development policies based on domestic consultation and consensus. We are also keeping an open mind on the various proposals to promote new and innovative sources of financing for development. This issue has been the subject of intergovernmental debate on various occasions in the past. We continue to believe that due consideration should be given on this matter especially so that commitments on ODA are not crowded out by the new mechanisms on financing for development. Such mechanisms should supplement ODA commitments and enhance the efforts of the developing countries in achieving sustained economic growth, sustainable development, and poverty reduction. Most importantly is that the voice of developing countries are reflected in considering such mechanisms so that meaningful benefits for the poor in developing countries are realized. Debt relief is another area that needs to be thoroughly addressed. In this context, concerted efforts by the international community to reach a lasting solution to the external debt problems of developing countries, including those aimed at low income countries and middle income countries, should be further enhanced. Mr. Chairman, International trade is also one area that needs more committed action. This includes our endeavor to create a universal, rule-based, open, non-discriminatory and equitable multilateral trading system. Moreover, the principles of the development dimension of the Doha Development Agenda, which places the needs and interests of developing and least developed countries at the heart of the Doha Work Program, should be continually emphasized. One critical area that needs to be addressed is the evolvement of the international financial architecture to broaden and strengthen the participation of developing countries in international economic decision-making and norm setting. In this regard, developing countries should continue to make the most of the available opportunities, including greater contribution of regional groupings, to have greater say and influence on the international policy agenda. Finally, we cannot fully implement the Monterrey Consensus and achieve the MDGs but through a concerted effort by stakeholders. This should also mean that we are all tackling the issues in a coherent manner. Therefore, we are supportive for enhanced cooperation and continued interaction by the United Nations with the Bretton Woods Institutions, World Trade Organization and with the active participation of UNCTAD through the Spring Meeting of the ECOSOC. We also look forward for the concrete and constructive contributions by multi-stakeholder consultations on financing for development organized by the Financing for Development Office of DESA. Furthermore, Indonesia looks forward to participating in the 2005 High-level Dialogue on Financing for Development to be held at the ministerial level. It is imperative that the results of the Spring Meeting of the ECOSOC mutually reinforce the outcomes of the High-level Dialogue to be held in 2005. Thank you.
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