April 3, 2024
On April 3, the second meeting of the Advisory Panel on New Financing for Development was held at the Ministry of Foreign Affairs under Ms. KAMIKAWA Yoko, Minister for Foreign Affairs of Japan.
- At the outset of the meeting, Minister Kamikawa refers to enormous financial needs to address the challenges of the international community and the necessity to create a mechanism to further promote coordination between Japan’s Official Development Assistance (ODA) and private finance with involvement of multi-stakeholder. Minister Kamikawa also stated that she would like to receive proposals that would lead to a new ODA.
- Following this, the Advisory Panel members introduced impact investment to encourage a new financing for development, expansion of risk-taking functions, and the mobilization of private funds through grants, among others, after which they held in-depth discussion on a way of thinking which should guide in considering a new ODA. They also held a lively and wide-ranging discussion on specific methods and points to consider for addressing the challenges facing the world though co-creation by various actors including the private and public sectors.
- It was decided to present draft recommendations based on the discussions to date and to further deepen discussions on individual issues, at the next meeting.