We, the partners of the Leading Group, which gathers 63 countries and an important number of International Organisations and NGOs, request the Spanish Presidency to deliver the following message at the G-20 Development and Finance Ministers meeting to be held in Washington :
We cannot overlook the fact that significant resources will be needed, if we are really intent on reaching internationally agreed development goals. We reiterate our support for viable sources of innovative financing for development, while we recall the need to keep on progressing towards the achievement of ODA objectives.
Several already operating innovative financing mechanisms have proved their ability to generate substantial, stable and predictable flows for development. Building on the successes achieved so far by 22 countries, we support the scaling up of innovative financing on a voluntary basis with a menu of options (loan guarantees, market mechanisms, micro taxes, citizen contributions, lottery mechanisms, debt management methods and private sector outreach).
In that regard, we commend efforts made by the French Presidency of the G-20. We encourage G-20 Development and Finance Ministers to consider, during their upcoming meeting in Washington, the potential contribution of a financial transaction tax to international solidarity goals, drawing on existing experience of similar taxes.
It is our shared responsibility to obtain the resources needed in our fight against hunger and poverty.