Parallel and Side Events Contents Page

Financing and investing for sustainable development in Latin America and the Caribbean

Presented by the Economic Commission for Latin America and the Caribbean (ECLAC)

At this event, regional perspectives on the fulfilment of the Monterrey Consensus and the WSSD Plan of Implementation were discussed.

Vicente Fox Quesada, President of Mexico, called for the creation of partnerships involving governments, the private sector and civil society to enhance sustainable development and reduce poverty. Fox welcomed the WSSD Plan of Implementation's commitment to develop rules that regulate access to developing countries' genetic resources, and which will benefit indigenous populations and local communities, and promote sustainable utilization of biodiversity.

Gustavo Novoa Bejarano, President of Ecuador, highlighted that the Monterrey Consensus and the WSSD adopt similar political principles to enhance international cooperation. He highlighted the tripartite alliance between Peru, Brazil and Ecuador to protect the Amazon Forest, and emphasized the importance of access to water and food for the region.

José María Figueres, World Economic Forum, said that the speed of globalization increased social, economic and political exclusion and the need of strong institutions to address market failures. He stressed that countries should cut military spending and concentrate efforts on growth, poverty reduction and increasing access to global markets. Figueres called for consumers to boycott products from countries that do not ratify the Kyoto Protocol.

Enrique Iglesias, Inter-American Development Bank, stated that the concept of sustainable development has changed to embrace the environment, economic growth, human needs, resource use and trade. He stressed that the principle of common but differentiated responsibilities must be at the center of the WSSD process to promote good governance, transparency, corporate responsibility and public participation.

José Antonio Ocampo, ECLAC, noted that the WSSD recognizes the importance of the Monterrey Consensus in defining a common agenda for international financing for development and presented a publication by ECLAC and UNDP on financing for sustainable development in Latin America and the Caribbean. The publication examines challenges and opportunities to promote cooperation among governments, the private sector and financial organizations at the regional level.

Mark Malloch Brown, UNDP, highlighted the difference between African and Latin American finance issues. He noted that Latin American countries are less dependent on grants and focus on innovative solutions combining growth, the environment and human needs.

Enrique Garcia, Corporacion Andina de Fomento, stated that Latin American Countries' growth has been slow and has focused on export of resources and commodities that are volatile to global market prices. He stressed that international efforts promoting growth, employment, and poverty reduction are supplementary to domestic efforts relating to the enhancement of good governance, transparency, and human rights.

Gro Harlem Brundtland, World Health Organization, noted that the WSSD has made improvements on issues related to sanitation and access to medicines. She stressed the need to increase international financial cooperation to promote minimal health standards in developing countries.