Financing for development (FfD) refers to the ongoing process to align financing flows and policies with economic, social, and environmental priorities. The UN General Assembly (UNGA) adopted the Agenda for Development in 1997, which called for consideration of holding an international conference on financing for development (FfD). The first International Conference on Financing for Development took place in 2002 in Monterrey, Mexico. The resulting Monterrey Consensus “resolved to address the challenges of financing for development” and “to eradicate poverty, achieve sustained economic growth and promote sustainable development.”
A follow-up conference was held in 2008 in Doha, Qatar, during the global financial crisis. Building on the Monterrey Consensus and the Doha Declaration, the third Conference on Financing for Development adopted the Addis Ababa Action Agenda in 2015, including its policy framework to realign financial flows to implement the 2030 Agenda for Sustainable Agenda and its 17 Sustainable Development Goals (SDGs).