The Asia-Pacific Conference on Financing Inclusive and Sustainable Development reiterated the need and importance of regional cooperation to strengthen the financial systems in Asia and the Pacific and requested all the development partners to enhance regional cooperation through various channels.
“In this connection, the Conference further encouraged the development partners to enhance multi-stakeholder dialogues and partnerships through continuously organizing forums, seminars and workshops at the regional level,” said Mahbubur Rahman, President, ICC Bangladesh at a joint press briefing at a city hotel on Thursday.
They focused various issues on financing inclusive and sustainable development in Asia and the Pacific. Which are, innovative policy and regulatory frameworks for financing inclusive and sustainable development, capital market development and establishment of Bond market, financing infrastructure development and Public Private Partnerships (PPPs), scaling up Private Sector investment, trade Finance and Cross-border trade and investment promotion, climate and disaster finance, and access to finance to SMEs.
Mahbubur Rahman said first this conference provided an innovative model at the regional level on how to enhance the Sustainable Development Goals 17.
“Under the growingly interconnected world and region, the SDGs can only be realised with strong global and regional partnerships through both North-South and South-South cooperation,” President, ICC Bangladesh said.
He said coordinating policies and actions through thorough multi-stakeholder dialogues will help Asia-
“Pacific countries promote investment and enhance financing for sustainable growth and development. This Conference has provided an innovative and effective strategic approach to enhance such partnerships through multi-stakeholder dialogue and cooperation,” he said.
Earlier, at different sessions, held simultaneously on the concluding day of the conference, global experts stressed inclusive financing for SDGs in Asia Pacific and Public Private Cooperation through global initiatives.
The session styled, ‘Leveraging Private Investment Innovative Financing for Infrastructure Development through new PPP Modalities’ took place early on the day.
Speakers at the session opined that the PPP can facilitate the cross-border infrastructure development and policy and regulatory harmonization among the neighbouring countries needed for inclusive and sustainable business and investment.
They said, PPP can also enhance technology transfer and adaption through innovative financing mechanism among development players. In this context, proper policy and regulatory frameworks are needed to link the expertise of both public and private sectors and promote regional integration.
Nojibur Rahman, Pricnipal Secretary, Office of the Prime Minister, chaired the session while Xiaoping Jiaon Director General, China PPP center delivered introductory remarks. Prof. Dr. S. Sabina, Chief Executive Officer (CEO), BNG Global Holdings SDN, BHD, Malaysia, Prof. Dr. Naoyuki Yoshino. Dean, Asian Development Bank Institute (ABDI), Paul Athorp, Vice Chairman and Founding Director, GMS Freight Transport Association participated as panelists among others.
Another session titled Building Financial Inclusivity MSMEs' Access to Finance through Technology and Innovation' was held as a parallel session with Md. Abul Kalam Azad, Principal Coordinator, SDG Affairs, PMO as the session chair.
The designated discussants at the session said, the technology-led innovation and the policy framework needed to support tech innovations are becoming an integral part to ensure financial inclusion in the development of micro, small, and medium-sized enterprises.
Rokia Afzal Rahman, Vice President, ICCB, Mominul Islam, Managing Director and CEO, IPDC Limited, Ken PAN Yancheng, President, Trade and Industry Association, Singapore, Dr. Tientip Subhanji, Chief, Financing for development, ESCAP, Jacky Tsoi, Partner on Syndicate Capital, Rajeev Kumar Gupta, Programme Management Specialist, UNCDF spoke at the session as panel speakers, among others.
They said, there is a need to improve cooperation among MSMEs in enhancing business opportunities and achieving sustainable development by improving access to finance through FinTech, credit rating, credit guarantee, transaction law, microfinance and intercompany credits.
At the session, styled Financial Implications for SDGs in the Context of LDCs Graduation, speakers opined that LDCs in Asia and the Pacific have made rapid social and economic progress over the last decades.'
They said, health indicators have improved, more children are now in school, and poverty has declined significantly. With increasing levels of human assets and lower levels of economic vulnerability, several LDCs in the region are on the threshold of graduating from the LDC status.
Despite this progress, LDCs continue to face daunting development challenges and will require significant financial resources to achieve SDGs.
Speakers also mention that grappling with the withdrawal of many international support programmes, a comprehensive regional cooperation and coordination with key development partners will play an important role to ensure that no one is behind in these economies.
The conference ended through a press conference at the Intercontinental Thursday evening. Earlier, President Md Abdul Hamid formally inaugurated the three-day conference on Tuesday morning.
