UNGA agenda for sustainable development, Addis Ababa Action Agenda “crowning achievement”

The General Assembly of the United Nations closed its 69th session on 14 September 2015 in New York City, giving the international community a clear ‘post-MDG’ roadmap with the adoption of the 2030 Agenda for Sustainable Development.

Calling the 2030 Agenda a ‘crowning achievement’, Secretary General Ban Ki Moon praised the delegates for recognizing the historic opportunity placed before them, noting the agreed 17 goals and 169 targets had been reached through an open policy-making process with an unprecedented range of voices.

The Secretary General also highlighted the earlier adoption of the Addis Ababa Action Agenda (AAAA), and stressed that the implementation of the AAAA would be a cornerstone for sustainable development. The General Assembly’s outcome statement (A/69/L.85) reinforced this view, stating, “We recognize that the full implementation of the Addis Ababa Action Agenda is critical for the realization of the Sustainable Development Goals and targets.”

The AAAA makes a strong case for the roles of financial inclusion, committing the international community to working toward full and equal access to formal financial services for all, adopting or reviewing national financial inclusion strategies in consultation with relevant stakeholders, and including financial inclusion as a policy objective in financial regulation, in accordance with national priorities and legislation. The AAAA also singles out AFI as the ideal partner for facilitating financial inclusion peer learning and experience-sharing among countries and regions.

The UN General Assembly outcome statement reflected an understanding of the need for practical solutions and country lead specific actions, emphasizing the important role that emerging and developing countries will have in driving progress. “We recognize that there are different approaches, visions, models and tools available to each country, in accordance with its national circumstances and priorities, to achieve sustainable development…We acknowledge the importance for international financial institutions to support, in line with their mandates, the policy space of each country, in particular developing countries. We recommit to broadening and strengthening the voice and participation of developing countries”

This vision of a more ‘bottom up’ approach to development with a much stronger voice in shaping policy for those countries that are most impacted by its implementation, has long been a priority for the membership of the Alliance for Financial Inclusion. Implementing this peer-to-peer, country-led approach across the development field will undoubtedly encourage stronger ownership and provide opportunities for counties to set targets that will be most relevant for their own circumstances. As has been evident with AFI’s own Maya Declaration Commitments, a country-led approach to policy targets and goals can be incredibly effective.

As a next step, the 2030 Agenda for Sustainable Development and Addis Ababa Action Agenda will be supported, monitored and tracked on a national, regional and global level. In preparation for the 70th meeting of the General Assembly, to be held in 2016, the General Assembly requested the Secretary General to prepare a report outlining critical milestones towards coherent, efficient and inclusive follow-up and review at the global level. This report will include a proposal for country-led reviews, clarifications on the institutional responsibilities, guidance on annual themes and options for periodic reviews at a high-level political forum.