Finland Times

Helsinki, January 30 – Global development experts and policymakers are likely to hold discussion on new mechanisms for development financing, particularly on food security and nutrition, at the Leading Group’s meeting scheduled for next week, officials said.

Finnish Minister for International Development Heidi Hautala will open the 11th plenary session of the Leading Group of Innovative Financing for Development on February 6 in Helsinki.

“The participants will discuss tax havens and illicit financial flows and make efforts to promote global action against these,” said an official handout issued by the foreign ministry.

A report drawn up by a high-level expert committee on innovative financing for agriculture, food security and nutrition will be placed in the conference for discussion. The report suggests mechanism measures for improving access to financing to ensure food security through private sector investments and for developing sustainable and

inclusive financial mechanisms.

It also recommended a few new measures for resource mobilization for agriculture, food and nutrition keeping in mind the major target of poverty reduction across the world prescribed in the Millennium Development Goals.

The conference, to be attended by ministerial-level guests from countries like Nigeria, Mauritania, Côte d'Ivoire, the Republic of Congo and Guinea, and by several high officials of from international organisations and development financing institutions, will aim to increase awareness of new financing mechanisms and different financing

models to promote their introduction.

Evaluation and assessment of innovative financial mechanisms and transparency and allocation efficiency will also on the agenda for discussion.

The government says the meeting will enhance Finland's role as an advocate of effective allocation of development financing and new financing mechanisms for development.

It will also lay foundations for the debate on future development goals beyond 2015 and the role of more extensive development financing in provision of financing for these.