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High Level Meeting on innovative financing (Madrid, 15 September 2011)

From July 1st 2011, Spain hosts the Presidency of the Leading Group of Innovative Financing for Development.

The Spanish presidency of the Leading Group has a distinctive feature: it is assumed in the course of a very special situation where, in addition to a severe economic crisis, concerns on the financing of development and the effectiveness of aid are raised. However, this is also a particularly favorable context to enhance innovative agenda’s profile and contents. Thus, the innovative agenda is increasingly present in the preparatory meetings of G20 / G8 (the current French presidency is particularly sensitive to this subject), OECD (High Level Forum on Aid Effectiveness, Busan, December), United Nations , etc

In this context, the idea of a tax levied on financial movements in capital markets has recently been reintroduced to the general public as an opportunity for redistributing globalization revenues. Taxing financial movements, apart from contributing to the stability of the financial system, could achieve the objective of raising funds, addressing the inclusion of developing countries into global economy.

Besides, other innovative instruments can be used to mobilize additional financial resources in order to achieve the MDGs and sustainable human development. Today, there are already several innovative financing mechanisms that have proven their usefulness. In fact, since 2006 approximately USD 5,000 million have been collected from innovative mechanisms destined to development, mainly in the field of health.

In the framework of the Presidency of the Leading Group on Innovative Financing for Development, the Secretary of State of International Cooperation from the Spanish Ministry of Foreign Affairs and Cooperation has organized a high level event to discuss innovative financing. The session will be organized and will take place in Madrid in September 15th 2011. It will involve the Academia, Civil Society representatives, International Organisations and Politicians.

Innovative financing will be addressed from two different perspectives: the implementation of an International Financial Transactions Tax (panel 1) and the mobilization of new resources in addition to traditional aid for development through the use of innovative financial mechanisms (panel 2).

Thursday, September 15th, 2011 • 9:00 – 14:00 (Caixa Forum, Madrid)

Provisional Programme

Event date: Thursday, 15 September

Place: Caixaforum, Madrid

Duration: 5 hours (from 9:00 a 14:00)

Format: 2 panels with 4 speakers (10´ presentation each) and a moderator for each panel


9:00 – 9:10 Inauguration Infanta Cristina (Royal Family) (tbc)

9:10 – 9:30 Speeches by Soraya Rodríguez, Spanish Secretary of State for International Cooperation and Mr. Henri de Raincourt (tbc), Minister in Charge of Cooperation, France (tbc)

9:30 – 11:00 Panel 1: International Financial Transactions Tax Moderator: Iñaki Gabilondo / Monserrat Domínguez (tbc)

Speakers: • Marcio Pochman, Research Institute of Economics, Brasilia • José Antonio Alonso (Catedrático UCM, Director ICEI) • Carles Campuzano, Member Parliament CIU • Stephen Spratt, Committee of Experts to the Task Force on International Financial Transactions and Development (Forthcoming) ‘Globalizing solidarity: the case for financial levies’, Leading Group on Innovative Financing for Development Task force on International Financial Transactions for Development

Comments and questions

11:00 – 11:30 Coffee break

11:30 – 13:00 Panel 2: Innovative Financing Mechanisms Moderator: Philippe Douste-Blazy, Special Advisor for Innovative Finance (UN)

Speakers: • Raymond Baker, Global Financial Integrity • Rokiatou Traoré, Secretary General for Innovative Financing, Malí • Orin Hasson, Melinda and Bill Gates Foundation • Representative from GAVI

Comments and questions 13:00 – 13:30 Conclusions and closing remarks: Philippe Douste-Blazy

13:30 – 14:00 Press conference

18 August 2011

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