Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-09-14-Speech-1-199"
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"en.20090914.27.1-199"2
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"− Mr President, the Commission in its role as the EU’s representative in the G20, together with the Presidency, strongly advocates increased support to low-income countries, particularly the poorest, as one of the critical priorities of the G20 commitments.
Concerning the reform of the Bretton Woods institutions, our role in promoting their reform is, of course, limited. The issue of voice and representation will be discussed at the IMF World Bank annual meetings in Istanbul, which Commissioner Almunia and I will attend this October. In this respect, we welcome the addition of a third seat for sub-Saharan African countries on the World Bank’s Board of Governors, and are looking with interest at proposals on the table for further reforms.
Concerning illicit financial flows, I would like to reassure Mrs Joly that I have already given instructions to the Commission services to explore ways of improving fiscal and financial governance in developing countries in order to curb illicit financial flows. This crisis has also shown that we have to strengthen the mechanisms for delivering ODA.
The international aid effectiveness agenda embodied in the Paris Declaration and the Accra Agenda for Action is now more important than ever. In these difficult economic times, we have a particular responsibility towards the world’s poor to make sure our development assistance is being channelled effectively.
In its 8 April communication, the Commission also underlined the useful contribution of innovative funding mechanisms as a complementary and mutually reinforcing instrument with ODA. We have urged Member States to use their full tool kit and to leverage non-ODA with ODA, for example, by building on ongoing voluntary solidarity levies such as the airline ticket taxes to finance health programmes. There will be high-level discussions on this subject, including a major conference in 2010 organised by the French, which will involve the Commission upstream.
In this regard, it is important that low income countries receive appropriate funding to meet the needs emerging especially from the backlash of the financial crisis. That is why we advocate the need to enhance access by poor and fragile countries, often without institutional administrative capacities, to the facilities and credits made available by the international financial institutions and other donors.
Personally, I will defend this approach at the November Development Affairs Council, and the global financial crisis will be at the centre of my political concerns during the weeks ahead. I hope I can count on your support throughout.
In this context our ‘Vulnerability FLEX’ instrument is of particular relevance. The Commission has worked with the World Bank and the IMF to identify the most crisis-vulnerable countries and to complement the loan-based assistance provided by these two institutions with timely and targeted grant aid under the Vulnerability FLEX.
Between 2009 and 2010, up to EUR 500 million will be spent on those ACP countries requesting assistance to ensure priority public spending, including in the social sectors. Let me reassure you that the frontloading of budget support through the Vulnerability FLEX mechanism will not lead to a funding gap insofar as the Commission is using non-earmarked reserves.
Countries not eligible under the Vulnerability FLEX will also benefit from other measures proposed by the Commission in its April communication, for example, reallocations following ad hoc country reviews and the advanced mid-term review, support under the traditional FLEX, frontloading where feasible, etc.
Concerning the targeting of the budget support, I am convinced that the flexibility inherent in this instrument already allows recipient countries to use the funds in the manner which they judge will best help them respond to economic and social problems.
In addition, the advanced mid-term review of the 10th EDF will provide a good opportunity to identify new needs and assess whether these would be better addressed through general or sectoral budget support.
The advanced medium-term review will also provide an additional opportunity to look again at budget support profiles in each ACP country and consider amendments, reallocation or additional funds from the reserve."@en1
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