Global Solidarity Fund for Development
2 March 2006
Paris - South Africa is to consider the utilisation of millions of pension
funds for the Global Solidarity Fund for Development, announced South African
Minister of Foreign Affairs, Dr Nkosazana Dlamini Zuma, in Paris on Wednesday,
1 March 2006.
Minister Dlamini Zuma was speaking during the Ministerial Conference on
Innovative Funding Mechanism for Development convened by French President
Jacques Chirac in Paris, which ended on Wednesday 1 March 2006.
Minister Dlamini Zuma led a South African government-delegation to the
Conference within the context of strengthening North-South relations with a
view to advancing the consolidation of the African agenda.
The proposal to use pension funds for the global solidarity fund for
development will as and when approved by cabinet see South Africa becoming the
22nd country to join the fund in addition to France, Brazil, Chile, Luxemburg,
Norway, Cyprus, United Kingdom, South Korea, India, Cameroon, Cape Verde,
Congo, Brazzaville, Germany, Madagascar, Mali, Morocco, Mauritania, Namibia,
Lebanon, Mauritius and Ivory Coast.
Minister Dlamini Zuma's announcement will serve to broaden international
consensus on meeting the Millenium Development Goals and further upscale
innovative funding mechanisms designed to effectively address global
challenges.
There is growing consensus that developing countries not only need more
resources, but fundamentally, resources of better quality. The implementation
of innovative financing mechanisms would allow for the provision of additional
funding on a stable and predicable basis, which could be allocated more
effectively to long term programmes in a wide range of areas.
Minister Dlamini Zuma returns to South Africa on Friday, 3 March 2006.
Enquiries:
Ronnie Mamoepa
Cell: 082 990 4853
Issued by: Department of Foreign Affairs
2 March 2006
Source: SAPA
