tax justice

[monthly meeting] NGO Committee on Financing for Development

Dear colleagues,

Happy New Year! The NGO Committee on Financing for Development would like to cordially invite you to its first regular monthly meeting of the year, to be held virtually on Tuesday, January 17, from 1:00pm – 3:00pm.

Please register in advance for this meeting here!

A zoom link will be emailed to you after registering. We hope to see you then.

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CoNGO Notes: The NGO Committee on Financing for Development is a Substantive Committee of the Conference of NGOs in Consultative Relationship with the United Nations. Likewise, for more information on the NGO Committee on Sustainable Development/NY, please visit ngocsd-ny.org. For more information on the NGO Committee on Sustainable Development/Vienna, please visit ngocsdvienna.org. 

CACCI Policy Advocacy webinar on ESG in South-East Asia and Green-Digital Transformation

CACCI invites you to participate in the CACCI Policy Advocacy webinar to be held on Wednesday, December 14at 3:00PM Taipei Time. The 50-minute session will be moderated by Mangesh Lal Shrestha, YEGAP President.

The two relevant policy issues to be discussed are:

(1) ESG in South-East Asia: Policy Considerations for Improving Performance Across Sustainability and Social Parameters in the EV and Textile Industries by Mr. Arjun Goswani, Director, Public Policy, Cyril Amarchand Mangaldas

(2) How to Adjust to the Green-Digital Transformation: A Primer for CACCI by Prof. Dr. Güven Sak, Economic Policy Research of Turkey (TEPAV)

The two Executive Summaries can be downloaded HERE for your perusal. The two presentations will be followed by Q&A section. The session will conclude with Mr. Mangesh Lal Shrestha’s Closing Remarks. Your participation is free of charge. Moreover, we encourage you to share this invitation with your colleagues.

Please register HERE.

Thank you, and we look forward to seeing you at the webinar.

Sincerely yours,

David Hsu

Director-General, Confederation of Asia-Pacific Chambers of Commerce and Industry

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CoNGO Notes: For more information on the NGO Committee on Financing for Development, please visit ngosonffd.org. For more information on the NGO Committee on Sustainable Development/NY, please visit ngocsd-ny.org. For more information on the NGO Committee on Sustainable Development/Vienna, please visit ngocsdvienna.org. For more information on the NGO Committee on Social Development, please visit ngosocdev.org. For more information on the NGO Committee on Intergenerational Solidarity, please email the chair at susanneseperson@gmail.com. 

Civil Society FfD List Sign-on Letter: Implementation of UN Resolution on International Tax Cooperation

Photo: https://csoforffd.org/

We invite you all to sign on to the letter, and the deadline for doing so is Friday 16 December 2022. You can find the letter here and the form to sign on is here. 

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To the kind attention of:

Permanent Representatives and Permanent Observers to the United Nations in New York

United Nations Secretariat, Agencies and Programmes

 

X December 2022

 

Subject: Implementation of UNGA Second Committee resolution on promotion of inclusive and effective international tax cooperation at the United Nations (A/C.2/77/L.11/Rev.1)

 

Your Excellencies distinguished representatives of UN Member States,

 

We, the undersigned civil society organisations and trade unions, strongly support and welcome the UNGA resolution on promotion of inclusive and effective international tax cooperation at the UN (A/C.2/77/L.11/Rev.1). We commend the Africa Group for its excellent leadership on this issue and for finally ensuring implementation of the long-standing demand of developing countries for a UN intergovernmental negotiation process on international tax. We urge all UN Member States to maintain and reinforce the spirit of international cooperation that resulted in the adoption by consensus of this historic resolution. 

 

Furthermore, we are writing to you with a call for all governments to work constructively towards the urgent and efficient implementation of the resolution. This includes: 

 

  1. Supporting a speedy approval in the UNGA Fifth Committee of the required budget allocation for the implementation of the resolution, in line with the related Programme budget implications analysis (A/C.2/77/L.75). The budget requirement, totaling US$ 432,700, was presented to Member States ahead of the adoption of the resolution. We now count on all UN Member States to stand by the consensus agreement reached with the resolution and confirm the allocation of the required resources. We also urge all UN Member States to keep in mind that international tax cooperation is urgently needed, not least to combat tax-related illicit financial flows, which are costing governments hundreds of billions of dollars in lost tax income every year. This must therefore be a matter of high importance and urgency.

 

  1. Supporting strong stakeholder involvement in the consultation process related to the UN Secretary General’s report as mandated by the resolution. We strongly welcome the fact that stakeholder consultation is explicitly included in the text of the resolution, and we stand ready to make our contributions. We, the undersigned civil society organisations and trade unions, bring in-depth knowledge from all regions of the world about the devastating impacts of the failure of international tax cooperation, including the continued bleeding of public resources in the form of illicit financial flows. We also bring concrete and specific proposals for solutions, including for how a future UN Convention on Tax could be designed. 

 

  1. Supporting a strong intergovernmental UN process to strengthen international tax cooperation. Through the resolution, all UN Member States have agreed to “begin intergovernmental discussions in New York at United Nations Headquarters on ways to strengthen the inclusiveness and effectiveness of international tax cooperation”. We strongly welcome this vital initiative, and stress the importance of moving forward with urgency. As stated in the adopted resolution, combating illicit financial flows is an essential development challenge, and developing countries are particularly susceptible to the negative impact of illicit financial flows. Therefore, we believe that the modalities for the foreseen process must be adopted as a matter of high priority, and this should take place no later than the seventy-eighth session of the UN General Assembly. Furthermore, we would like to stress the importance of ensuring that the modalities provide for a transparent and inclusive member state-led negotiation process with full participation of stakeholders, including civil society. 

 

Despite the fact that international tax rules and standards affect all countries and people of the world, there has until this point been no inclusive international body where all countries were able to participate on an equal footing in the decision-making on international tax matters. This injustice is at the heart of the failure of the international tax system, which has continued to be characterised by injustice, inefficiency, incoherence, unilateral actions and beggar-thy-neighbor policies. All countries have paid a high price for this failure, but the impacts on developing countries have been particularly hard. The UN remains the only truly universal body where all countries participate as equals, and the consensus adoption of the UN resolution, including the decision to begin intergovernmental discussions on international tax matters under the auspices of the UN, constitutes a truly historical shift towards fairness and inclusivity. 

The urgency of this matter cannot be overstated. In light of the Covid-19 pandemic and the “cost of living crisis”, the fight to increase domestic resource mobilisation and combat illicit financial flows has never been more vital. In 2021, the State of Tax Justice report estimated that countries around the world are losing over US$450 billion per year due to international tax dodging and abuse by multinational corporations and wealthy individuals. Faced with the challenges of financing the achievement of the Sustainable Development Goals and combatting the global environmental crises, it is clear that the international community must take urgent action to strengthen international tax cooperation and stop the immense bleeding of public resources. 

We remain at your disposal if you would like to receive more information or would like to meet to discuss this issue further. 

 

Yours sincerely,

Civil Society Financing for Development Group (www.csoforffd.org)

 

Signatories

 

  1. Civil Society Financing for Development (FfD) Group
  2. Global Alliance for Tax Justice (GATJ): Alliance of five continental tax and fiscal justice networks in Asia (Tax & Fiscal Justice Asia), Africa (Tax Justice Network Africa), Latin America (Red de Justicia Fiscal de América Latina y el Caribe), Europe (Tax Justice-Europe) and North America (Canadians for Tax Fairness & FACT Coalition), collectively representing hundreds of organisations. 
  3. European Network on Debt and Development (Eurodad)

 

Eliminating Extreme Poverty and Hunger Amongst Older Persons & People with Disabilities by Implementing a Supplementary Income Program: Evidence from Ethiopia

The NGO Committee on Intergenerational Solidarity (COIGENS) proudly invites you to the first meeting in their new series on Social Trauma and Intergenerational Solutions! This inaugural meeting will focus on:

Eliminating Extreme Poverty and Hunger Amongst Older Persons and People with Disabilities by Implementing a Supplementary Income Program: Evidence from a Program in Lalibela, Ethiopia

To attend this exciting virtual event, please contact COIGENS Program Coordinator Kevin Brabazon at NGOcommittee.COIGENS@gmail.com to receive the Zoom access link, which will be sent out prior to the meeting.

About Nov. 11 Meeting:

This first meeting will focus on the traumas of extreme poverty and hunger and will offer a simple approach to eliminating both traumas. The social protection program that is often found in social security systems (in the USA it is referred to as Supplementary Security Income or SSI). This meeting will introduce you to a demonstration project in Lalibela, Ethiopia that is sponsored by COIGENS. The Mayor of Lalibela will introduce five recipients of the supplementary income part of the Lalibela Project and will interview them to show how their lives have changed since joining the program. This will be a live feed so attendees will be able to ask questions in the last 30 minutes of the program.

In the Lalibela Project, Supplementary Income is provided to eligible participants on a monthly basis. The income is set above the Extreme Poverty level and is intended to show the government and international observers that this “social trauma” could be eliminated on a national level by implementing a 1% income tax.

Program:

  • Keynote Speech: Dr. Kurt Johnson, Pioneer in the Knowledge Field of Science and  Religion Interface, “The Three Generational Family Model at the Interface of Social and Economic Sciences and Religion”
  • Program Presentation: Abebe Fentaw Sisay, Director of the Lalibela Project, “Honor Your Father and Mother and Love Your Neighbor as Yourself as a Basis for Social Development”
  • Mayor Tesefa Habte, Mayor of Lablibela, will introduce and interview five of the elders who have been lifted out of extreme poverty by the supplementary income program in the Lalibela Project

Please note: You do not need to be a member of COIGENS to join the Zoom meeting though we are offering free membership extended from December to run through April of next year. Any time you wish to join, let us know and we will add you to the list of members. If you prefer to follow our meetings as a non-member, we welcome that too. We are interested in building a community of common interests in which we can share ideas and shape the way the United Nations Sustainable Development Goals (SDGs) can be realized.  –  Dr. Susanne Seperson, Acting Chair, COIGENS; United Nations Representative, Generations United

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CoNGO Notes: The NGO Committee on Intergenerational Solidarity is a Substantive Committee of the Conference of NGOs in Consultative Relationship with the United Nations. Likewise, for more information on the NGO Committee on Financing for Development, please visit ngosonffd.org. For more information on the NGO Committee on Ageing/NY, please visit ngocoa-ny.org. For more information on the NGO Committee on Ageing/Vienna, please visit ngoageingvie.org. For more information on the NGO Committee on Ageing/Geneva, please visit ageingcommitteegeneva.org. For more information on the NGO Committee on the Family/NY, please visit ngofamilyny.org. For more information on the NGO Committee on the Family/Vienna, please visit viennafamilycommittee.org. For more information on the NGO Committee on Human Rights, please email the co-chairs at bobbinassar@yahoo.com or bknotts@uua.org. For more information on the NGO Committee on Social Development, please visit ngosocdev.org. 

Financing for Development in a Fractured World

Join the NGO Committee on Financing for Development for an important look at FfD in a contemporary context, knowing that the repercussions of COVID-19 and climate destruction are here to stay, at least for the foreseeable future.

Date and Time: 8:30 am – 10:00 am EST on November 9, 2022

Please register in advance: https://us02web.zoom.us/meeting/register/tZwuduutpjguGtENOtCZCf-EtA7AD0azr_Wu

Objective: The General Assembly will decide during the current session whether it is ready to convoke the fourth Financing for Development (FfD) conference in the next few years. The global economy is in a difficult situation, especially for development, underlining the need for more effective international economic and financial cooperation. While it is not obvious that the international community as a whole is currently ready to effectively address the pending issues, it is time to start to try to build a new global consensus on financing for sustainable development.

The objective of the NGO Committee on FfD in organizing this workshop is to build the capacity of NGOs/CSOs that focus on a range of economic, social, and environmental issues to engage effectively in the FfD processes and to share updates on the current FfD discussions. While the session is geared towards NGOs/CSOs already engaged with UN processes, it is open to anyone interested in gaining an understanding of FfD. Speakers will provide a perspective of the FfD processes, clarify the larger impact of FfD-related decisions on the achievements of the 2030 agenda, and share insights on current developments and areas that require urgent action and strengthened advocacy efforts.

Read the full concept note here!

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CoNGO Notes: The NGO Committee on Financing for Development is a Substantive Committee of the Conference of NGOs in Consultative Relationship with the United Nations. Likewise, for more information on the NGO Committee on Sustainable Development/NY, please ngocsd-ny.org. For more information on the NGO Committee on Sustainable Development/Vienna, please visit ngocsdvienna.org. For more information on the NGO Committee on the Rights of Indigenous Peoples, please visit facebook.com/NGOCoRIP.

NGO Committee on Financing for Development regular monthly meeting

Join the NGO Committee on Financing for Development for their regular monthly meeting on November 4 from 1:00 – 3:00 pm EST at the Baha’i International Community Office at 866 UN Plaza, with Zoom access capabilities for those who are unable to attend in person. As the conference room can accommodate up to 25 participants, in-person attendance will be on a first come first served basis for those who have registered at this link by 4:00 pm October 31.

To attend virtually, kindly register to receive the Zoom access link here: https://us02web.zoom.us/meeting/register/tZctdu6urD4qGdG5uqTnKvZAqzQHuY_QnaQq
 
The agenda, minutes of the last meeting, and resource material are being uploaded to the meeting folder here.
 
Note to members:
Save the Date for upcoming FfD workshop! The Committee’s annual workshop on FfD, titled “Financing for Development Post COVID” will be held on November 9 from 8:30 am – 10:00 am via Zoom. This workshop is being organized by the Executive Committee.  Interested participants are encouraged to register here.

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CoNGO Notes: The NGO Committee on Financing for Development is a Substantive Committee of the Conference of NGOs in Consultative Relationship with the United Nations. Likewise, for more information on the NGO Committee on Sustainable Development/NY, please visit ngocsd-ny.org. For more information on the NGO Committee on Sustainable Development/Vienna, please visit ngocsdvienna.org.

Three Keys to Successful Advocacy: How to Move, Touch and Inspire Anyone at Anytime

Three Keys to Successful Advocacy: How to Move, Touch and Inspire Anyone at Anytime

We are pleased that Adriane Berg, an expert communicator and an Emmy award-winning TV host and podcaster, will join us today. Adriane is communications consultant to many major companies and a member of the NGO Committee on Ageing-NY, Subcommittee on Communications. Erica Dhar, Director, Global Alliances, International Affairs, AARP, will be the respondent, applying Adriane’s presentation to our advocacy work at the NGO CoA.

Be prepared for a lively session on effective advocacy messaging followed by an eye-opening speed coaching session with your fellow attendees.

Programme:

  1. Welcome & Chair’s Update Cynthia Stuen, Chair, NGO Committee on Ageing/NY
  2. Moderator Frances Zainoeddin, Vice Chair, Program Subcommittee Chair
  3. Speaker: Adriane Berg, CEO Generation Bold
  4. Respondent: Erica Dhar, Director, Global Alliances, International Affairs, AARP
  5. Questions and Comments
  6. Closing Remarks

Attendees will discover:

  • How to create a compelling elevator pitch
  • How to appeal to multiple audiences at meetings and events
  • How to create and deliver a compelling call to action
  • How to tell your advocacy story using the unique “U curve” technique

Join here: us02web.zoom.us/j/81697309330

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CoNGO Notes: For more information on the NGO Committee on Ageing/NY, please visit ngocoa-ny.org. For more information on the NGO Committee on Ageing/Geneva, please visit ageingcommitteegeneva.org. For more information on the NGO Committee on Ageing/Vienna, please visit ngoageingvie.org. For more information on the NGO Committee on Intergenerational Solidarity, please email the vice chair at susanneseperson@gmail.com.

Creating an Enabling, Gender-Responsive Work Environment for the Future: The Role of ILO Convention 190 in Addressing Violence and Harassment in the World of Work

About: To achieve a job-rich recovery and just transition to a sustainable and inclusive economy, the UN Secretary-General is calling for a Global Accelerator for Jobs and Social Protection Global Accelerator for Jobs and Social Protection that would create at least 400 million jobs and extend social protection to 4 billion women, men, and children currently without coverage. (Link to the Global Accelerator web page). A robust recovery from the COVID-19 pandemic requires an emphasis on climate-friendly, technology-focused green jobs (SDGs 9, 14.15), including in the informal sector and migrant communities.

A green, inclusive, and gender-equitable work environment that is decent, safe, and free from violence and harassment (v&h) will enhance the resilience of communities, in the face of economic and environmental challenges. ILO C-190 commits governments and employers to implement measures to protect all workers from v&h. Therefore, legislative and policy frameworks that incorporate ILO C 190, as well as strategies to promote lifelong learning opportunities (SDG 4), including awareness-raising on the prevalence of v&h in the world of work and measures to combat it, must be integral to this process. Hence the vital need for multi-stakeholder dialogue on this important dimension of “building back better” after the Covid-19 pandemic and advancing implementation of the SDGs.

Register here!

Objectives: This side event will focus on ways to create an enabling, gender-responsive, safe work environment for the future, by incorporating into its framework the International Labour Organisation Convention 190 (ILO C 190, 2019) addressing violence and harassment (v&h), in the world of work (Link: Status of Ratification).

In the spirit of SDG 17, it will bring together multi-stakeholder partners: governments, the private sector, trade unions, and NGOs with the aim of exploring strategies to promote universal ratification and effective implementation of ILO C 190, as part of a broader push that goes beyond job creation to the provision of safe, violence-free environments with decent jobs for all (SDG 5, SDG 8). This side event aims to build on the conclusions of the Multi-stakeholder Interactive Dialogue and strategy session of 8 September 2021 on promoting ILO C 190, organized by The NGO Coalition to End Violence and Harassment in the World of Work.

Speakers:

  • H.E. Ms. Mathu Joyini, Ambassador Permanent Mission of the Republic of South Africa to the United Nations
  • H.E. Mr. Carlos Amorín, Ambassador, Permanent Mission of Uruguay to the United Nations (TBC)
  • Ms. Chidi King, Chief, Gender, Equality, Diversity and Inclusion Branch (GEDI), ILO
  • Ms. Maria Paz Anzorreguy, Director for ILO Coordination, International Organization of Employers
  • Ms. Rukmini V P, President, Garment Labour Union, Bengaluru, India
  • A representative from the trade union sector speaking about their efforts to support countries with the ratification process and recommendations for areas and regions where collective advocacy efforts are needed (TBC)
  • A representative from the private sector speaking about the policy measures they have taken to ensure a work environment free of violence and harassment and the importance of ratification of ILO C-190 to ensure such an environment.
  • Youth voice (TBC)

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CoNGO Notes: For more information on the NGO Committee on the Status of Women-NY, a Substantive Committee of the Conference of NGOs in Consultative Relationship at the United Nations, please visit  ngocsw.org. Likewise, for more information on the NGO Committee on Social Development, please visit ngosocdev.org. For more information on the NGO Committee on Migration, please visit ngo-migration.org. For more information on the NGO Committee on the Status of Women-Vienna, please visit ngocswvienna.org. For more information on the NGO Committee to Stop Trafficking in Persons, please visit ngocstip.org. For more information on the NGO Committee on the Status of Women-Geneva, please visit  ngocsw-geneva.ch. For more information on the NGO Committee on Financing for Development, please visit ngosonffd.org. 

Financing for Universal and Crisis-Responsive Social Protection and Decent Work: Proposals of 2021 UN Inter-Agency Working Group

Join the NGO Committee on Financing for Development on Tuesday, April 26, from 8 – 9:30am EST for an official side event of the 2022 ECOSOC Financing for Development Forum on Financing for Universal and Crisis-Responsive Social Protection and Decent Work: Proposals of 2021 UN Inter-Agency Working Group

Speakers:

  • H.E. Mr. Phillippe Kridelka, Ambassador, Permanent Representative of Belgium to the United Nations
  • Mr. Helmut Schwarzner, Senior Social Security Specialist for the Americas, Social Protection Department, ILO Geneva
  • Mr. David Stewart, Chief of Child Strategy and Social Protection, UNICEF
  • Dr. Santosh Mehrotra, Research Fellow, IZA Institute of Labor Economics, Bonn, Germany
  • Ms. Tikhala Itaye, Director, Global Movement Building, Women in Global Health

Moderator: Dr. Barry Herman, Member Advisory Board, Social Justice in Global Development

Register here: https://us02web.zoom.us/meeting/register/tZYsfuqqrjwiHtLVutntuRo0xgsa9K_vEKxP

Co-sponsors: Vivat International, Women First International Fund, Salesian Missions, International Labour Organization, World Vision, Social Justice in Global Development

Background: Social protection refers to assuring a basic income floor and access to basic healthcare throughout the life cycle. It should be provided universally to all people in need, but that is far from current practice. While decent jobs, including self-employment, are mainly in the private economy, meeting the qualifications for most jobs usually requires education and good health, which are primarily public service functions. Thus, programs to promote social protection and decent jobs entail adequate, effective, and fair national systems of taxation, complemented by international assistance, often in the form of technical assistance but also sometimes in aid-financed budget support, as for low-income countries.

The experience of the pandemic laid bare inadequate systems to deliver cash transfers to compensate for the economic costs of the crisis and inadequate public health systems to deliver vaccines, tests, and protective equipment, along with the very limited capacity, especially in developing countries, to maintain employment during the crisis-induced economic contraction. The pandemic experience requires us to think about preparing better “shock responsive” social protection and health systems and stronger counter-cyclical policies. Preparation, in turn, requires consideration of ways to mobilize the necessary domestic and international financial resources on an ongoing basis and with the capacity to meet the higher expenditure needs at times of crisis.

While the inter-agency report concluded with 21 separate proposals, speakers in the side event will be asked to discuss one or more of the proposals. There is no expectation that all 21 proposals would be covered, nor is that necessary. What is necessary is to bring the attention of the FfD Follow-up Forum for consideration by policymakers the work of the 16 cooperating agencies in the task force and the civil society, labor, employer, and youth stakeholders that were consulted in preparing the report.

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CoNGO Notes: The NGO Committee on Financing for Development is a Substantive Committee of the Conference of NGOs in Consultative Relationship with the United Nations.

Exploring Digital Finance’s Real Promises and Challenges for Development

Exploring Digital Finance’s Real Promises and Challenges for Development

Join the NGO Committee on Financing for Development on Wednesday, 27 April 2022, 8:00 a.m. – 9:30 a.m. EDT for this official side event to the 2022 ECOSOC Financing for Development Forum.

Register here: https://us02web.zoom.us/meeting/register/tZ0qc-6orjsuGdFhyWHfljp7ZNxV526Onoc7

Speakers:

  • Ms. Cina Lawson, Minister of Digital Economy and Transformation of the Republic of Togo (TBC)
  • Dr. Purva Khera, Economist, International Monetary Fund
  • Mr. Johannes Ehrentraud, Senior Advisor, Financial Stability Institute, Bank for International Settlements
  • Ms. Sofie Blakstad, CEO of hiveonline and author of Fintech Revolution: Universal Inclusion in the New Financial Ecosystem
  • Ms. Anneleen Vos, Seionr Economic Policy Officer, International Rescue Committee
  • Mr. Prabhat Labh, CEO, Grameen Foundation India
  • Ms. Mercy Buku, Program Leader, Toronto Center

Moderator: Mx. Anita Thomas, Chair, NGO Committee on FfD, Representative to the UN, Women First International Fund

Co-sponsors: ManUp Campaign, Change Management Solutions, Sisters of Charity Foundation, African Development Interchange Network, IBVM

Background:

The UN Secretary General’s task force on digital finance in its report titled “People’s Money: Harnessing Digitalization to Finance a Sustainable Future,” spells out the transformational impact digital finance can have on sustainable development. Providing relief for millions around the world, supporting businesses, and protecting jobs and livelihoods, digital finance served as a lifeline during the COVID-19 pandemic. A World Bank tally of policy responses to the pandemic finds that at least 58 governments in developing countries used digital payments to deliver COVID-19 relief, of which 36 countries made payments into fully transactional accounts that were being used for saving beyond simply withdrawing cash. According to the GSMA, international remittances processed via mobile money increased by 65 percent in 2020.

Proponents of digital finance highlight its strong capabilities to reduce transaction costs, the potential of Artificial Intelligence to provide fair and equitable treatment of credit applicants, and the scalability of cloud technology, through the use of blockchain technology, to allow consumers to transact remotely and seamlessly across multiple platforms.

While the experience of COVID-19 has proven that digitalization can transform economies and lives, it needs to be shaped with both its advantages and potential risks in mind in order to bring everyone into the digital age. For technology to benefit everyone, private sector innovation must be supported by the appropriate public goods such as the public provision of foundational infrastructure, access to electricity, mobile and internet coverage.

As in the case of any disruptive technology, without combining technological advances with sound policy measures, digital technology cannot deliver on its potential to meaningfully advance financial inclusion for everyone, including the more than 2 billion unbanked people globally. Delivering on promises to advance financial inclusion can only be considered meaningful when the account holder has a fully functional account that they utilize to save, make payments, obtain manageable credit, and mitigate economic risks and is simply not utilized to withdraw cash from cash transfers from the government, which is overwhelmingly the case at this time.

By examining successful strategies that maximize digital finance’s potential while minimizing risks to the financial sector, government revenues, and at-risk populations, attendees will gain a better understanding of how digital finance can sustainably advance development objectives.

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CoNGO Notes: The NGO Committee on Financing for Development is a Substantive Committee of the Conference of NGOs in Consultative Relationship with the United Nations.

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