Created on Friday, 03 February 2012 21:45
Last Updated on Friday, 03 February 2012 21:45
Written by Shirley Gao
Here are two photos of Ashley Eberhart (right) and myself (on left). We are sitting in on a panel today called "Special Event: Financing of Social Development."
The Role of Finance in Social Development
Today the main event focused on the role of financial institutions in poverty eradication. My fellow delegates and I sat in on a discussion that covered a variety of topics, including impact assessment, foreign versus domestic direct investments, the criteria governments should keep in mind in choosing a financing mix, and the social protection floor.
These tools are to be used in order to ensure that countries do not simply pursue economic growth for growth's sake; instead, economic growth must be coupled with social policies which ensure everyone access to basic social services. While many of the panels at CSocD-50 have focused on justifying these social policies on a human rights framework, some delegates have mentioned that universal access to social services is economically and politically viable and effective. It will decrease social inequality and related outbreaks of conflict, they say, and should thus be a priority on the political agenda.
As Ms. Christine Bockstal, of the International Labor Organization, said, "The world does not lack the resources. It lacks the priorities."