Press Statement
For Immediate Release
New York, USA 16.02.25 – Ministry of Finance and National Planning Acting Permanent Secretary Ms. Prudence Kaoma has concluded her engagements in New York where she participated in the Third Committee (PrepCom) for the Fourth International Conference on Financing for Development (FfD4).
The FfD4 preparatory meeting brought together United Nations (UN) member states and other key stakeholders such as international development organisations and civil society to provide comments on the Zero Draft Document prepared by the FfD4 co- facilitators – Zambia, Norway, Mexico and Nepal. Dr Chola Milambo, Zambia’s Permanent Representative to the UN is leading the process on behalf on Zambia.
The Zero Draft of the Financing for Development Outcome Document is a framework that will highlight commitments and initiatives that seek to increase availability of financing for development over the next 10 years. It builds on the 2015 Addis Ababa action agenda and proposes a new financing framework covering key issues such as the need for an improved global debt mechanism, improved development finance cooperation, strengthened approaches to international trade, adoption of integrated, robust, transparent, equitable science, technology and innovation systems to drive development.
Ms. Kaoma and her delegation actively participated in a number of side events organised by various countries and agencies.
The Acting Permanent Secretary attended a side event organized by the International Labour Organisation (ILO) on “Safeguarding Social Protection Expenditure” where she underscored the need for allocating sufficient local resources and mobilising complementary international finance for Social Protection which demonstrates Government’s commitment towards the SDGs particularly one and three so as to leave no one behind.
The delegation also attended a side event co-hosted by the UN Conference on Trade and Development (UNCTAD) on the topic, “Resolving the MORASS: Debt solutions for Africa.” Zambia highlighted its experience, valuable lessons, and insights in country’s interactions with the Global Debt Resolution Mechanism. These insights were valuable in bringing to the fore the practical issues that indebted countries face in dealing with debt and reaching agreement with creditors and the balancing act that follows to ensure debt sustainability, debt repayment and investment in key development interventions to put the country back onto the path to growth.
The delegation also participated in a side event on “Aligning International Development Cooperation with Country
Needs and Priorities: Challenges and Way Forward” which was co-hosted by Zambia, Nepal, the Republic of the Philippines, United Nations Department of Economic and Social Affairs Financing for Sustainable Development Office (UN-DESA FSDO), and the Office of the High Representative for Least Developed Countries, Landlocked Developed Countries and Small Island Developing States (OHRLLS). Ms. Kaoma participated in a panel discussion on where efforts in shaping Development Cooperation towards country needs were presented with Development Cooperation Policy cited as a key milestone, alignment of support from cooperating partners to National Development Plan and sector strategies and continued dialogue through periodic dialogue mechanisms with development partners.
During the “Development Effectiveness and quality of Financing towards 2030 and Beyond,” side event, Zambia highlighted the need for sustained commitment to Development Effectiveness principles especially alignment to country systems, transparency, predictability of flows as critical to making development finance impactful in line with funding aspirations espoused in the 2030 Agenda for Sustainable Development.
Zambia’s participation in the PrepCom has facilitated the gathering of information and deeper understanding of the underlying justifications around proposals made by member states during the conference which issues the country will consider in advocating for better engagement with its development partners to achieve better collaboration on development financing, implementation, and tracking to optimise impact on the people of Zambia.
The conference also provides the country with key points to take into account when formulating or reviewing policies on development cooperation, private sector investment and engagement with multilateral development institutions, including with other partners (including south-south collaborations) and stakeholders in a quest to achieve enhanced financial and technical support to the country’s development agenda.
Issued by:
Namatama Njekwa
First Secretary Press and Public Relations
Permanent Mission of the Republic of Zambia to the United Nations.
