Qatar attends plenary, closing sessions of financing for development conference

Seville: Qatar has participated in the Eighth Plenary and Closing Sessions of the Fourth International Conference on Financing for Development, held i...

Seville: Qatar has participated in the Eighth Plenary and Closing Sessions of the Fourth International Conference on Financing for Development, held in Seville, Spain.

Minister of State for International Cooperation H E Maryam bint Ali bin Nasser Al Misnad, represented the State of Qatar in both sessions.

The conference concluded with the adoption of a comprehensive document affirming that financing for development should not remain synonymous with traditional aid, but rather should transform into a sustainable investment approach that leads to the creation of opportunities and economic growth in developing countries.

The document noted that reforming the global financial system is an urgent necessity, including enhancing the representation of developing countries in international financial institutions, improving borrowing conditions to align with development capabilities, and imposing fair taxes on wealth and environmentally polluting activities.

The document noted that reducing inequality between and within countries can only be achieved through transparent and equitable financing that takes into account the needs of vulnerable and marginalised groups.