Liu Zhenmin, China's deputy permanent representative to the
United Nations, called on the international community on Wednesday
to make integrated efforts to deal with the problems concerning
financing for development.
Speaking at the High-level Dialogue on Financing for Development
held at the UN headquarters, Liu said that there is no shortcut to
the settlement of the problems concerning development
Integrated measures and various means must be employed to
finance through all channels, including mobilizing domestic fund,
attracting international private investment, providing official
development assistance and debt relief, as well as improving the
international monetary, financial and trade regimes, he said.
As poverty and underdevelopment are mainly suffered by
developing countries, the most difficult part of financing for
development is to mobilize fund for developing countries, Liu
The biggest obstacle to financing for development is the innate
deficiency suffered by developing countries due to their long-term
backwardness, he said. In the light of this, the international
community should make constructive intervention, rather than rely
solely on the market force.
On the one hand, it needs to provide financial assistance to
help developing countries resolve the pressing issue of
development; and on the other, it should create a favorable
external environment for developing countries to build their
capacity for mobilizing fund through their own efforts, he
The 62nd session of the UN General Assembly began on Tuesday the
High-Level Dialogue on Financing for Development to lay the ground
for a review of anti-poverty promises pledged by world leaders in
the 2002 Monterrey Consensus in Mexico.
(Xinhua News Agency October 25, 2007)