Addis Ababa to Host Preparatory Conference for Fourth International Conference on Financing for Development - Ethio Eyewitness News

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Addis Ababa to Host Preparatory Conference for Fourth International Conference on Financing for Development

The bustling capital of Ethiopia, Addis Ababa, is set to host a pivotal preparatory conference for the Fourth International Conference on Financing for Development (FfD). This significant event will take place from July 22–26, 2024, as announced by H.E. Ambassador Nebiyu Tedla, spokesperson for the Ministry of Foreign Affairs of Ethiopia.

The forthcoming conference in Addis Ababa will lay the groundwork for the Fourth International Conference on FfD scheduled to be held in Spain in 2025. This preparatory gathering will not only revisit the commitments made during the Third FfD Conference in 2015, which resulted in the ambitious Addis Ababa Action Agenda (AAAA), but will also evaluate the progress and challenges encountered in mobilizing resources to achieve the Sustainable Development Goals (SDGs) and the 2030 Agenda.

The preparatory conference is expected to attract around 1,000 participants, including ministerial and government officials, senior experts from UN member states, and various stakeholders. These delegates will engage in discussions on the implementation of the AAAA, focusing on innovative strategies and actionable ideas to accelerate development finance for the SDGs.

Ambassador Nebiyu emphasized that this event will serve as a critical milestone, facilitating in-depth dialogue and collaboration among international leaders. The conference will provide a platform to share best practices, address existing challenges, and forge new partnerships to enhance global financial cooperation.

Ethiopia’s selection as the host for this preparatory conference underscores its robust diplomatic efforts and unwavering commitment to sustainable development. By hosting this event, Ethiopia aims to further solidify its position as a key player in international development discourse.

Moreover, the conference presents a unique opportunity for Ethiopia to boost its tourism and hospitality sectors. With an influx of international delegates, the country can showcase its rich cultural heritage, vibrant history, and breathtaking landscapes. This event will also provide a significant economic boost to local businesses and promote Ethiopian Airlines as a premier carrier for international travel.

The Addis Ababa Action Agenda, established during the Third International Conference on Financing for Development in 2015, remains a cornerstone of global efforts to finance sustainable development. This agenda laid out a comprehensive framework to mobilize diverse financial resources, including domestic and international public and private investments, to support the implementation of the SDGs.

The preparatory conference will assess the progress made since 2015 and identify new challenges that have emerged. Discussions will likely focus on leveraging innovative financing mechanisms, enhancing international cooperation, and fostering inclusive economic growth to ensure no one is left behind.

The insights and outcomes from the Addis Ababa preparatory conference will play a crucial role in shaping the agenda for the Fourth International Conference on Financing for Development in Spain. By addressing the gaps and leveraging successful strategies, global leaders aim to renew their commitment and enhance collaborative efforts to finance the ambitious SDG targets.

Addis Ababa is poised to play a significant role in the global development landscape by hosting this important preparatory conference. With meticulous preparations underway, Ethiopia is ready to welcome delegates from around the world, facilitating meaningful discussions and fostering a spirit of cooperation and innovation. This conference not only underscores Ethiopia’s dedication to sustainable development but also highlights the importance of collective action in achieving global financial stability and prosperity.

As the world looks forward to the Fourth International Conference on Financing for Development in Spain, the outcomes from Addis Ababa will undoubtedly serve as a beacon of progress and a testament to the power of global collaboration in the pursuit of a sustainable future.

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Habtamu Alemu

Habtamu Alemu is a seasoned journalist and the editor-in-chief of Ethio Eyewitness News.

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