Monterey Conference Opens

YEREVAN (Armenpress)–The International Conference on Financing for Development opened on March 18 in Monterey–Mexico–bringing together representatives of governmen’s–the business community–international financial institutions–and civil society to seek ways of mobilizing crucial resources for enhancing economic growth and achieving global development goals. An Armenian delegation is also present led by Prime Minister Andranik Margarian.

The Monterrey Consensus–the final document to be adopted at the end of the Conference–was presented March 18 morning by the co-chairpersons of the Preparatory Committee for the Conference.

The conference also heard from the Executive Secretaries of various United Nations regional commissions–who highlighted factors which obstructed the flow of aid and development efforts of their respective regions–such as debt burden and armed conflicts.

If financing for development was to be increased–said the Executive Secretary of the Economic and Social Commission for Western Asia (ESCWA)–the role of regional financing institutions in every part of the world must be strengthened to make them the principal sources of financing for development. Also that morning–the conference elected Vicente Fox–President of Mexico–as President of the Conference. In addition–the conference adopted its rules of procedure–agenda and program of work–as orally revised.

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