by David Jackson, Director, Local Development Finance at UNCDF
Africa has seen over two decades of rising investment, including an exponential rise in foreign direct investment that has rebounded from the 2008 global financial crisis. But this investment is not accompanied by the requisite economic and social transformation that would allow the poorest countries to provide their citizens with the same type of sustainable opportunities seen in developed countries.
The dust has settled on last month’s Habitat III conference on urbanization, Quito hotels have returned to their regular November occupancy rates, and attention has switched across the Atlantic to the COP 22 climate conference currently taking place in Morocco.
The theme of this year’s World Cities Day, “Inclusive Cities, Shared Development”, reminds us of the important role urbanization plays in advancing development and social inclusion.
At Habitat III in Quito (Ecuador), UNCDF and the Financing for Development Office of UN-DESA (FFDO/UN-DESA) joined forces to underline the importance of innovative approaches to municipal finance for local authorities, especially secondary cities, in the Least Developed Countries (LDCs) as a way to respond to the needs brought by rapid urbanization.
The Ministry of Interior (MOI) in collaboration with the Ministry of Finance (MOF), Office of Accountant General, and IMC with the support of UNCDF/JPLG jointly organized a two days pre-discussion review workshop (4-5 September 2016) focusing on FDS (Fiscal Decentralization Strategy Progress, Local Government Financing framework, services deliveries of the CG Ministries, in anticipation of the proposed Government Budget Conference which is due to be held on 11th October, 2016, commenced today at the Ambassador Hotel in Hargeisa.