Addis Ababa: The Fourth International Conference on Financing for Sustainable Development (FfD4) commenced today in Addis Ababa at the Skylight Hotel.On the opening session, United Nations Secretary-General Antonio Guterres in his virtual message emphasized the importance of such platforms to mobilize finance and other resources for SDGs and expressed his wish for fruitful deliberations.Foreign Minister Taye Atske Selassie in his opening remark, highlighted the need for an ambitious approach to address today's financial challenges to achieve Sustainable Development Goals.He further noted that the conference provides an opportunity to reflect on the progress of the Addis Ababa Action Agenda and the financial needs of developing countries .Ahmed Shide, Minister of Finance of Ethiopia, and Amina Mohammed, Deputy Secretary-General of the United Nations, also addressed the gathering.The speakers called for enhanced debt relief, effective coordination of partnerships, and urged attendees to share their ex periences towards equitable and sustainable financingIn her keynote address to the conference, UN Deputy Secretary-General Amina J. Mohammed said only 17 percent of Sustainable Development Goals (SDGs) targets are on track.The deputy secretary-general said hosting this conference in Addis Ababa would have a profound significance, a city whose name has become synonymous with Financing for Development, following agreement of the 2015 actual agenda.The Addis agenda alongside the Sustainable Development Goals and the Paris Agreement, also agreed in 2015 provided humanity with a three dimensional roadmap towards a more justice, equitable and a sustainable world."Only 17 percent of the SDG targets own trade. For commitments to eradicate extreme poverty and hunger are in peril since development has not effectively stalled."She elaborated that climate Action falls woefully short and the surge in renewable energies bypasses most developing countries, which face high costs of capital.The conference is bein g attended by about 1000 participants, according to the Ministry of Foreign Affairs.Source: Ethiopian News Agency
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