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Innovative financing mentioned in the Cannes Summit Final Declaration, November 2011

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The Cannes Summit Final Declaration underlines the role played by innovative financing, especially in the paragraph 82.

" 82. We agree that, over time, new sources of funding need to be found to address development needs. We discussed a set of options for innovative financing highlighted by Mr Bill Gates, such as Advance Market Commitments, Diaspora Bonds, taxation regime for bunker fuels, tobacco taxes, and a range of different financial taxes. Some of us have implemented or are prepared to explore some of these options. We acknowledge the initiatives in some of our countries to tax the financial sector for various purposes, including a financial transaction tax, inter alia to support development."

You can read the entire Declaration here:

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Cannes Summit Final Declaration

7 November 2011

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