The High-Level Regional Consultation on Financing for Development in Asia and the Pacific concluded recently at the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) in Bangkok. The two-day event, brought together representatives from member states, international organizations, development partners, and other key stakeholders to discuss critical financing issues and strategies to accelerate progress toward sustainable development in the region.
The consultation was convened as part of the preparatory process for the Fourth International Conference on Financing for Development which will be held in Seville, Spain in June 2025.
A special session on “A Multi-stakeholder Dialogue on Financing for Development: Public, private, philanthropic and civil society perspectives from Asia and the Pacific” was chaired by Ambassador and Permanent Representative of Sri Lanka, Wijayanthi Edirisinghe. The session featured key stakeholder representatives, including Executive Director of the Institute of Policy Studies of Sri Lanka, Dushni Weerakoon, and Madhulika Gunawardena from the Feminist Collective for Economic Justice. Head of Chancery and Deputy Permanent Representative of the Embassy of Sri Lanka in Bangkok, A.W.S. Samanmali also joined the consultation.
Attending the event as a guest speaker, Governor of the Central Bank of Sri Lanka, Dr. Nandalal Weerasinghe presented the perspectives of Asia and the Pacific, emphasizing that addressing the challenges faced by developing countries in financing for development requires a comprehensive and collaborative approach. He noted, “By harmonizing policies, mobilizing resources, and fostering partnerships in a coordinated and inclusive manner with all relevant stakeholders, and by integrating sustainable development objectives, countries in Asia and the Pacific can effectively address systemic challenges and create pathways for equitable, resilient, and sustainable development outcomes”.
During the opening remarks, Executive Secretary of UNESCAP, Armida Salsiah Alisjahbana underscored the urgency of financing sustainable development in Asia and the Pacific. “The region’s ability to achieve the SDGs by 2030 hinges on how effectively we mobilize and utilize financial resources. This consultation serves as a vital platform for sharing insights, aligning priorities, and building partnerships to advance our shared development goals”, she stated.
Key outcomes of the consultation included recommendations for strengthening regional cooperation in resource mobilization, enhancing resilience to economic shocks, and fostering innovative financing solutions. These inputs will contribute to the global dialogue at the Fourth International Conference on Financing for Development, ensuring that the unique perspectives and challenges of Asia and the Pacific are adequately represented.
The event concluded with a reaffirmation of the collective commitment to advancing sustainable development in the region through collaborative action and effective financial strategies.
