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  • Iran delegates to take part UN FFD3 summit in Ethiopia 12 July 2015 | View comments

  • Iran’s Vice President for Executive Affairs Mohammad Shariatmadari, heading a high ranking delegation, is set to take part in the third UN Financing for Development conference (FFD3) in Ethiopia.

    Heads of states and governments, ministers of finance, foreign affairs, institutional stakeholders as well as non-governmental financial organizations are to take part in the international conference to be held in the Ethiopian capital Addis Ababa from July 13 to 16, Press TV reported.

    The conference is to focus on the assessment of progress made during the implementation of funds and identify obstacles hindering the process. New and emerging issues will also be dealt with during the four-day event.

        “The Islamic Republic of Iran will stick to the commitments that it has made towards the development of less developed countries or least developed countries particularly in the administration of financial institutions as well as the appropriation of funds to different sectors that are in need of economic development," said Shariatmadari ahead of the conference. "Iran will continue its support according to the commitments it made in the past”.

    Iran believes that a mechanism must be devised to ensure that Official Development Assistance (ODA), an indicator of international aid flow, is regulated in developing countries, Shariatmadari said.     

    “The way ODA resources are used in developing countries is in important issue. Iran believes putting in place proper monitoring systems ensures that the flow of investments into developing countries will be used for the development of their infrastructure and in areas which are most needed,” he added.

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