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| Additional information |
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| The Global Clearinghouse |
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Overview:
The Monterrey Consensus recognizes that urgent development needs for poverty reduction, job creation, and improved living standards cannot be achieved without significant and sustained investment by the private sector. To implement the Monterrey Consensus, the Global Clearinghouse Initiative has developed specific Financing for Development Tools.
The Global Clearinghouse “Financing for Development Tools” are Global Public Goods that have been developed over the last six years to implement the Monterrey Consensus objective of mobilizing private sector resources for development, advancing the capacity of developing country governments and aid effectiveness of development agencies. These tools are designed to use simple communication technologies to enable more effective collaboration and catalytic exchange between governments, the private sector, and development agencies needed to breakthrough long-standing impediments to achieve results across all developing countries. Specific deliverables include:
* Identification of critical investment impediments and possible remedies, and enhanced developing country government capacity to improve the country business environment;
* Open user-friendly access for investors worldwide to credible, timely, relevant information on all developing countries, including regions, sectors, assessments of risks and opportunities, and risk management services and strategies;
* Sharing of success stories, best practices, effective crisis prevention policies and development strategies; and
* Development of innovative and effective financing mechanisms.
As an independent expert initiative, the focus is on bridging costly gaps between investors and governments in areas critical to effectively mobilizing domestic and international private sector capital, and enabling cost-effective collaboration between official and private sector experts. Specific related networking functions of the Clearinghouse that harness expertise from across the private and official sectors include:
* Easy Open Access to a Development Finance Portal -- enabling investors worldwide to easily access information on all developing countries in one web site;
* Availability of Cost-Effective Government-Investor Networks -- enhancing government capacity to improve business environments, transparency, and accountability; and
* Enable Creation of Independent Infrastructure Expert Groups -- providing expertise and recommendations on policy and financing options to policy makers and investors
The Global Clearinghouse is committed to employing cost-effective communication and internet technologies to improve communication and the sharing of information between governments, international organizations, investors, and analysts worldwide – in effect improving and streamlining the "information plumbing" and communication capacity of the global financial system, organizations, and governments.
BACKGROUND RESEARCH
The Global Clearinghouse for Development Finance is based upon many years of intensive research and consultations with investors in developing countries funded with the generous support of the United Nations, the Ford Foundation (through the New School University), the Norwegian government, the Swiss government and the Council on Foreign Relations (New York, New York). The project also benefited from the support and input of the other business interlocutors of the United Nations Conference on Financing for Development -- the Business Council of the United Nations, the International Chamber of Commerce, the Money Matters Institute, and the World Economic Forum - all engaged in developing public-private initiatives to mobilize private sector capital for development. |
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