Press Release (21-April-2019)

His Excellency Lyonpo Namgay Tshering’s participation in the 2019 ECOSOC Forum on Financing for Development Follow-Up

 

His Excellency Lyonpo Namgay Tshering participated in the fourth 2019 ECOSOC Forum on Financing for Development (FfD) follow-up in New York from 15-18th April, 2019.

 

 

The aim of Financing for Development is to mobilize sufficient financing to successfully implement the Sustainable Development Goals (SDGs) by 2030. The Forum reviewed the implementation of the Addis Ababa Action Agenda (Addis Agenda) in the last four years and, to forge consensus to advance the implementation of the 2030 Agenda of Sustainable Development against the rising economic and non-economic risks.

The implementation of the Addis Agenda include mobilization of domestic revenue, enhancement of domestic and international private business, finances and cooperation, harnessing of new technologies, promotion of trade, science, technology and capacity building including data, monitoring and follow-up.
Hon’ble Lyonpo in his National Statement highlighted the synergies between the SDGs and our development philosophy of Gross National Happiness. Hon’ble Lyonpo also participated in the side event on “How much should Asia and Pacific invest to achieve the SDG?” organized by UNESCAP. Lyonpo also participated in the Ministerial Finance Dialogue 1 on Promoting inclusive growth and reducing inequalities and Ministerial Finance Dialogue II on Mobilizing Finance for climate action. Lyonpo had bilateral meeting with Mr. Yannick Glemarec, Executive Director of Green Climate Fund to discuss issues of mutual interests.Bhutan’s participation in the FfD forum is important to leverage our fiscal space in the implementation of the SDGs by 2030.

The 2019 forum’s recommendations and the recommendations of the past three forums on financing for development will be submitted to the first quadrennial high-level dialogue on financing for development in September, 2019, back to back with the High-Level Political Forum (HLPF).

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