Holy See Plans a Coalition for Financing of Development

VATICAN CITY, JULY 6, 2004 (Zenit.org).- The Holy See plans to establish a «Coalition of Support and Promotion for the Financing of Development,» and has appealed to financial experts and others for ideas.

Print Friendly, PDF & Email
Share this Entry

To that end, the Pontifical Council for Justice and Peace has organized a study seminar this Friday, to be attended by officials of the United Nations, the World Bank, the International Monetary Fund, and representatives of governments, Catholic nongovernmental organizations, and the ecclesial hierarchy.

The theme of the meeting is «Poverty and Globalization: Financing for Development, Including the Millennium Development Goals.»

«Special attention will be given to the present situation of the international debt and innovative financing proposals, in particular the English initiative International Finance Facility (IFF),» said a statement by the Pontifical Council for Justice and Peace.

«The objective of the project is to collect funds that will make it possible to obtain the $50 billion needed annually to achieve the millennium’s objectives before 2015, thanks to the emission of obligations in the international capital market,» it added.

Cardinal Renato Martino, president of the pontifical council, will open the morning session, which will be presided over by Cardinal Cormac Murphy-O’Connor of Westminster.

Cardinal Óscar Andrés Rodriguez Maradiaga of Honduras will preside over the afternoon session.

Print Friendly, PDF & Email
Share this Entry


Support ZENIT

If you liked this article, support ZENIT now with a donation