Efforts to create innovative mechanisms for development financing also deserve universal support.

Innovative mechanisms for development financing should be explored, but must never replace ODA.

There are many examples of successful innovative agricultural financing mechanisms in developing countries.

The debate on innovative mechanisms for the financing of development is no longer taboo.

Other innovative financing mechanisms include credit guarantees, revolving funds and issuance of municipal bonds.

We are also willing to forge new paths by making use of innovative financing mechanisms.

Only a few of the proposals regarding innovative financing mechanisms had been debated at the intergovernmental level.

Innovative sources of financing

5.3 Financing mechanisms

Thirdly, innovative financing should be promoted.

A number of countries have followed up on the call in the Monterrey Consensus to investigate innovative financing mechanisms to guarantee more and greater predictability of development financing.

Investment opportunities, innovative financing, and policy incentives

Assistance should be the primary source of funding in support of development, but innovative and complementary financing mechanisms must to be found.

Since last year, the Technical Group on Innovative Financing Mechanisms has discussed various proposals, to which Spain has made an active contribution.

It should be noted that international funds derive from increases of official development assistance (ODA) and from developing other innovative financing mechanisms.

Both documents prepared for this meeting and for the Expert Meeting on Financing Commodity Based Trade and Development Innovative Financing Mechanisms referred to, and drew lessons from, African experiences.

Since new and innovative financing mechanisms could increase the volume and predictability of resources, the GUAM States supported the International Finance Facility, the Initiative against Hunger and Poverty and the New York Declaration on Innovative Sources of Financing for Development.

Domestic resource mobilization, including innovative sources of financing

(i) Establishment of financing mechanisms

Decides to give further consideration to the subject of innovative development financing mechanisms and techniques from all sources public and private, domestic and external

The various proposals on innovative financing mechanisms should be discussed at the intergovernmental level, a process which Pakistan would like to see move forward.

Several participants supported innovative sources of financing for development.

Innovative modalities for mobilizing resources and financing for development

We also welcome the United Nations declaration on innovative sources of financing for development that provides mechanisms to increase and supplement traditional sources of finance.

A declaration adopted by 111 countries has welcomed the ideas and proposals put forward in the Report of the Technical Group on Innovative Financing Mechanisms.

(ii) Identifying and promoting innovative and sustainable means of financing

Credit and financing mechanisms (bilateral, regional, internal)

Another important issue was the need for innovative financing mechanisms to provide additional funds and technical assistance for developing countries to help realize the Millennium Development Goals.

That is why, in support of the French proposal to adopt innovative mechanisms for financing, we feel it is necessary to establish national and international solidarity levies.

Therefore, proposals for new and innovative financial mechanisms merited serious consideration.

The endeavour to generate innovative means of financing is long overdue.

Innovative forms of financing are being developed to complement ODA increases.

The Global Partnership for Education (GPE) has raised less than 10 of what has gone into global health, and to date no significant innovative financing mechanisms have emerged.

We welcome the recent proposals and initiatives made by some countries to explore innovative financing mechanisms that would stabilize development financing, making it more predictable and thus allowing the Governments of developing countries to plan more effectively.

Innovative mechanisms designed to help low income countries like Pakistan were essential.

Likewise, we endorse the Declaration on innovative sources of financing for development.

For the longer term, other innovative sources of financing must be considered.

Pakistan had emphasized the need to explore financing through innovative means in addition to the conventional sources of financing.

But we will also help by promoting the more harmonized delivery of aid and innovative financing mechanisms and by creating the right environment to foster economic growth and employment opportunities.

Their financing mechanisms are described in annex III below.

The challenge rests in finding additional resources and devising innovative sources of financing, such as the proposed International Finance Facility for the front loading of official development assistance and other proposed financing mechanisms these matters need to be appropriately addressed.

In addition, the summit recognized the value of developing innovative sources of financing.

Seventh, there has been rapid progress in terms of innovative sources of financing.

The idea of new and innovative sources of financing permeated a large number of the interventions on official development financing.

Many of them had undertaken significant reforms of their economies, which required additional resources from industrialized countries as well as the creation of innovative coordination mechanisms for the financing of development.