Official Development Assistance (ODA)

- Closing Statement

Japan, as the President, has organized the 8th Plenary Meeting of the Leading Group on Innovative Financing for Development for two days. I am very much pleased that a number of new countries have attended this Plenary Meeting and the participating countries and organization have had a fruitful discussion. In particular, I would like to note that participation from the Asia-Pacific region has greatly increased. I feel that Japan has been able to play its part, as a President from Asia, in expanding the discussion on innovative financing.

At this Plenary Meeting, presentations were made on a number of innovative financing mechanisms in the health sector. These presentations highlighted the remarkable results achieved in the health sector and proved the added value of such mechanisms.

This meeting has demonstrated the high potential of innovative financing on international financial transactions for development. The Declaration presented and supported by Japan, France, Belgium, Spain, Norway and Brazil at the MDGs Summit Side Event was marked as a positive posture for future action.

Moreover, we had a fruitful discussion on innovative financing in the education sector including the report presented by the writing committee of the Task Force on Innovative Financing for Education. We welcomed the efforts by the committee to produce the report.

In addition, we acknowledged the negative impact of illicit flows on development and international efforts against illicit flows. We also reconfirmed the necessity of reducing the cost of migrants' remittances and shared ideas on financing mechanisms for climate change, reducing poverty, and ensuring food security.

At the Side Event in September, I proposed the following principles as the basis for discussing innovative financing:

• (1) Firstly, it should utilize new and innovative mechanisms.
• (2) Secondly, it should mobilize additional funds that supplement the existing resources.
• (3) Thirdly, it should be sustainable and predictable to enable stable financing.

I am pleased that we had an active discussion in line with these principles at this Plenary Meeting. Based on these principles, Japan hopes that each country will make possible efforts to advance consideration on innovative financing.

At this Meeting, more countries have joined discussion on innovative financing, while transcending differences in their individual positions and opinions. Japan will turn over the Presidency of the Leading Group to Mali in January, 2011. I would like to express my heartfelt gratitude for the cooperation of member countries and the participation of new countries during the half year under the Japan's Presidency. Japan will support Mali's new Presidency and continue its active contribution to the further advancement of discussion at the Leading Group.

I sincerely hope that discussion at the Leading Group will further develop and the international "solidarity" will expand even wider.

Thank you very much.