Vietnam has voiced its concern about developed countries' failure to realise their ODA commitments for developing countries made at the Monterrey Conference two years ago.
"There is ample evidence that more than two years after Monterrey, the pledges made at the Conference have yet to be realised," Ngo Duc Thang, Deputy Permanent Representative of Vietnam to the United Nations said at the general debate of the second committee on economics and finance of the UN General Assembly's 59th session in New York on Wednesday.
He noted "In some regions, development finance is dwindling and insufficient ODA levels would make achievements of the Millennium Development Goals a very difficult proposition."
In his speech, the Vietnamese diplomat said "Poverty is not only the greatest challenge to peace and stability in the 21st century, but also our greatest moral challenge."
He pointed to the fact that ODA flows have increased in recent years from US $52.4 billion in 2001 to US $68.5 billion in 2003, this amount still falls far short of development requirements in many developing countries and still has not reached 0.7% of Gross National Products of the developed countries.
"Vietnam fully supports the Ministerial Declaration adopted by Ministers of the Group of 77 and China at the 28th Annual Meeting in calling upon the international community to fully implement the commitments made in the Monterrey Consensus," the diplomat said.
In this regard, he suggested the World Bank consider alternatives and new concepts and instruments that favour the allocation of new resources and provide a larger degree of flexibility that could increase financial resources for developing countries.
He noted that by deepening the renovation policy that has brought about a relatively high economic growth (over 7% annually), Vietnam recorded remarkable achievements in halving the proportion of poor people, ensuring gender equality, enhancing HIV/AIDS prevention and creating conditions for sustainable development in recent years.
Nhan Dan - (14/10/2004)