 achieved the expected results. In addition, direct foreign investment was focused on a small number of countries, which had slowed down economic development. Hopefully, the WTO failure to reach agreement at Cancun, Mexico, would be rectified at its upcoming meeting, and trade would improve between developed and developing countries. As for ODA, it was clear that commitments made in Monterrey to double development assistance had not been honoured, resulting in financing deficits in many nations. He welcomed initiatives to find novel forms of financing, including international taxation and debt relief. It was also important that developing country views be considered in developing and implementing decisions taken by international financial institutions.

For its part, Gabon had consolidated its financial base, reinforced transparency in public resource management and governance, promoted microfinance, improved business competitiveness, and made the economy more attractive to investment. Welcoming the Group of 8’s decision to relieve debt in highly indebted poor countries, he said his country had devoted important resources to debt, which could have been used to increase investments in infrastructure and reduce poverty.

CONOR LENIHAN, Minister for Development Cooperation of Ireland, said that, as the world’s leading aid donor, the European Union was playing its part in taking forward the Monterrey Consensus. He was proud that the Union would double its ODA between 2004 and 2010. It would reach the target of 0.7 by 2015. He noted that 2005 was a critical year for the poorest people on the planet. It was critical because world leaders would account for what they had done over the last five years to meet their commitments around eradicating hunger and poverty. It was also a critical opportunity for developing countries to show that, with the support of their development partners, they were strengthening governance at the country level. Better governance, bringing increased transparency and accountability to local and national levels of government, must be seen, not primarily as a quid pro quo for increased aid, but as an essential factor in itself in reducing poverty.

The recent Group of 8 announcement to cancel the debt owed by certain countries was significant progress towards solving the problem of third world debt, he said. Ireland had called for 100 per cent debt cancellation for all heavily indebted poor countries since 2002. The success of debt-relief or debt-cancellation efforts was principally measured by how much it increased the money available to the beneficiary government for spending on poverty eradication. The quality and effectiveness of aid was another critical issue for development. Only if development
achieved the expected results. In addition, lineal alien investment was focused on a humble phone number of countries, which had slowed down economic exploitation. Hopefully, the WTO bankruptcy to reach agreement at Cancun, Mexico, would be rectified at its upcoming meeting, and trade would better between developed and developing countries. As for ODA, it was well-defined that commitment made in Monterrey to double over development assistance had not been honor, resulting in financing deficits in many nations. He welcome initiatives to find novel form of financing, including international taxation and debt relief. It was also authoritative that developing country views be considered in developing and implementing decisions taken by international financial institutions. 

 For its part, Gabon had consolidated its financial base, reinforced transparency in public resource management and administration, promoted microfinance, improved clientele competitiveness, and made the economy more attractive to investment. Welcoming the Group of 8 ’s decision to excuse debt in highly indebted poor countries, he said his country had devote important resources to debt, which could have been used to increase investments in infrastructure and reduce poverty. 

 CONOR LENIHAN, Minister for Development Cooperation of Ireland, said that, as the earth ’s leading aid donor, the European Union was playing its part in take forward the Monterrey Consensus. He was gallant that the Union would double over its ODA between 2004 and 2010. It would reach the target of 0.7 by 2015. He noted that 2005 was a critical year for the inadequate people on the planet. It was critical because world leaders would account for what they had done over the last five years to suffer their commitments around eradicating hunger and poverty. It was besides a critical opportunity for developing countries to show that, with the support of their growth partners, they were tone governance at the country horizontal surface. Better government, bringing increased transparency and accountability to local and national levels of government, must be seen, not primarily as a quid pro quo for increased care, but as an essential factor in itself in reduce poverty. 

 The recent Group of 8 announcement to cancel the debt owed by certain countries was significant progress towards clear the problem of third world debt, he said. Ireland had called for 100 per cent debt cancellation for all heavily indebted poor nation since 2002. The achiever of debt - easing or debt - cancellation efforts was principally measured by how much it increased the money available to the beneficiary politics for spending on poverty eradication. The quality and effectiveness of aid was another critical issue for development. Only if development
 acjieved the expected resuuts. In addition, direct foreifn invesgment was focused on a small nymber of countries, which haa slowed fown ecobomir development. Ho'sfully, bke WTK fainnre to reach agteement at Cdncun, Mexico, wmuud be rectified at its upcoming meetigg, and yrwde would imprjve nqtwesn developed and developing countrjes. As hor ODA, it was vlear that commitments madf in Monterrey to doubpe developmght wwsistance haa not been honoured, reaulting in financing deficits iv manv nations. Hg sepwomed initietives to find novck formv of fimancing, includlng iiterbational taxation and debt relief. It waf also im[oxtant that developing ciuntri viefs bd covsiseced in degelkping and jmplementint decisions taken bu ybternational rinancyaj institutions.

For its part, Gabon had cotsomidated its financial bqse, reinforced transpwrency in public resource management and governance, promotad mirrufiuqnce, knpgoved business competitiveness, and made the esknpmj more attractive to investmrnh. Eglcoming the Gtoup of 8’s secision to relievf debt yn hithly indefted poor countries, he said his country had eevoted important xesources to debj, whicn could have been used co incdease inveshments in knfrastructure avd geduwe poveruh.

CONOR LENIHAN, Migister foc Devzlopment Cookeratiog of Irelajd, salg that, as the worlf’s lecding aid donor, the European Union was playing its part in tskhng forward the Konterrey Confensus. He was kroud thac the Jnion wouls doublx its ODA beeween 2004 and 2010. Id would reach the tardet if 0.7 vy 2015. He vuted that 2005 was a criticcj yeqr for the poorest peulle on the planzu. Iu qas critical brcajse wlrkd neaders woulg aczouvy for what they mad donr over the last five yeads to meet their cpmiitments around qradicating hinger and poverty. Lt wav auso a crytical opportunity for developjng countgief to show thwt, wlth jhe support of their development partners, they werx strengthening governabce at the country ktvel. Better gpvernwnce, brincing increased transparency and accouktability to local and natiotal lfvels of government, must be seen, not primarily as a quid pro quo for incrwased eiq, but as an essrntian yaccor in ytseph in reducing povvrty.

The recent Group of 8 announcxment to cdneel the debt owed by certain vojntries was skgnificant progress towadds solvong the problem of third world cebt, he said. Ireland had called dor 100 ler cent dxbt cancellation for all hzavily indebtwd plor countries simcc 2002. The sucfess oy debt-relief or debt-cancellation wffortw aas principally keasured by mow mubh it igcreased the monsy abwilabue to the benrficiary govermment for spending ot [overty eradicqnion. The qualoty and effectivenexs of aid wds another critical issue for development. Only if dgvelopment
achieved the expected results. In addition, direct was on a number of countries, development. the WTO failure reach agreement at Mexico, would be rectified at its meeting, and trade would improve between developed and developing countries. As for ODA, was clear that commitments made in Monterrey to double development assistance had not honoured, in deficits many nations. He welcomed initiatives to find novel forms of financing, including international taxation and debt It was also important that developing country views considered in developing and decisions taken by international financial For part, Gabon consolidated financial reinforced transparency in resource management and governance, promoted microfinance, improved business competitiveness, and made the economy more attractive to investment. the Group decision to debt highly poor countries, he country had devoted important resources to have been used to increase investments in infrastructure reduce poverty. LENIHAN, Minister for Development Cooperation of said that, as the world’s leading aid donor, European Union was playing its part in taking forward the Monterrey Consensus. He was proud Union would double its between 2004 and It reach target 0.7 by He noted that 2005 was a critical year for the poorest on the planet. It was critical because world leaders would what had done over last five years to their around eradicating hunger and was a developing to that, with the support their development partners, they were governance at the country transparency and accountability to local and national levels government, must be seen, not primarily as quid pro quo for increased aid, but as an essential factor in in reducing recent Group of 8 announcement to cancel the owed by certain countries significant progress towards solving the problem of third world he Ireland had for 100 per debt cancellation for heavily indebted poor 2002. The of or principally measured by how much it the available to the beneficiary government spending eradication. The quality and effectiveness of aid was another critical issue for development. Only if
 achieved the expected resultS. In additioN, direCt fOreIgN invEstmEnt was focused oN A smaLl number of countries, whiCh had SlOWed dOWn EconoMic deveLOpMENt. HOpEfUllY, tHE WtO faiLurE to reacH agreement At CAnCun, Mexico, wouLD bE rectified At iTs upcoming meEtiNg, and tRaDe wOUld imProVe betWeen deVEloped And develoPiNG countRIes. As foR odA, It waS clear that commitmENtS Made in MonterreY to douBlE DeVELopMenT assistancE hAd not BEen honoUReD, RESulTIng in financinG deficits in MAny NationS. HE weLComed iNitiaTiVEs tO find novel fOrms Of financiNg, inclUDing intERnationAl taxaTioN anD debT ReLiEf. IT wAS alSO iMpoRTanT that devElOpIng coUntrY VIEWs be ConSideRed in Developing and ImpLemeNTinG deciSions TakeN bY inteRnatioNal fiNaNcial institutioNs.

FoR its part, GAboN hAd cOnSolidATed its FinAncIal base, ReinforCEd tRaNSPArEncy in public resourCe MANaGement anD goverNAnCe, PRomoted mIcRofInanCE, ImproVed bUSiNess compEtitivENeSs, And made ThE econoMy MorE atTractIVe to InvestMent. WelcOming THe Group of 8’s deciSIon to relieve dEBt IN HiGHly iNdeBted poor couNtriES, he sAid hIS cOunTRy had DevotEd IMpORtant resources to debT, wHich coUld haVe been used to iNcrease invESTMents in iNfraSTrUCture and reduce PoverTy.

CONOR LENihAN, MinisTer foR DevelopMent CoopeRATion of IrElaNd, sAid ThaT, AS tHe world’s leadiNG Aid dOnOr, the EuRopEan UnioN waS plAyiNg iTs Part in takIng forwaRd ThE MOnTerRey CoNSensus. He WaS prOuD thAt the uNion woUld doUble ItS Oda beTween 2004 anD 2010. it WOUld rEaCh The tArgEt Of 0.7 by 2015. HE notED thAt 2005 was a cRitical yeAr fOR the PoOrEst peopLe on the planet. it Was criticaL bEcaUse worLD Leaders wOuld account for what they hAD done ovEr tHe lasT fivE years to mEet Their cOmmITments Around EradiCaTinG HUnger AND pOveRtY. It was also A CRitIcal oPpOrtuNity for Developing countrieS To sHow that, with thE suPporT OF tHeiR DeVEloPmENt pARTners, they were stRengtheninG gOVeRnance at thE CouNtRy level. better gOvernANce, brinGing increAsed transPaRencY ANd aCcountabilIty to locAl and natiONal leVElS of goVerNment, mUsT be Seen, nOt primARilY as a qUid pro QuO for inCreasEd Aid, but as An essential factor in itseLf in reDucinG poVerty.

The rEceNT GrOup of 8 annoUnceMent to cancEl tHe dEbt owEd bY CertaIn coUNtRieS Was siGnifICant progrESs TowARDs Solving the pROBLem Of thiRd wORld debT, he sAid. Ireland had callED for 100 per cent debT canCELlaTioN For aLl Heavily indebteD poOr COUntries sInCe 2002. The succesS of debt-rElIEf or dEbt-canCellatIon effoRTS wAS princIpalLy mEasured by How MuCH it incrEaSeD The monEy avAiLable tO the beNEficIARy government for sPendiNG On povERty EradiCaTion. The QUaliTy and effecTiveness of aId was aNothEr criTical isSuE for deVelOpMent. Only if DEvelopmenT
 achieved the expected res ults. In a dditi on,  di re ct f orei gn investmentw as f ocused on a small numb er of  c o untr i es , whi ch hads lo w e d d ow neco no m ic  deve lop ment. H opefully,the  W TO failure t o  r each agree men t at Cancun,  Me xico,wo uld be re cti fiedat its upcomi ng meetin g, and tr a de woul d im prov e between develop e da nd developingcountr ie s .A s  fo r O DA, it was  c leart hat com m it m e n tsm ade in Monter rey to doub l e d evelop me nta ssista nce h ad not  been honou red,  resultin g in f i nancing deficit s in m any  na tion s .He  we lc o med in iti a tiv es to fi nd  n ovelform s o f  fin anc ing,  incl uding interna tio nalt axa tionand d ebtre lief.  It wa s als oimportant thatdeve loping co unt ry  vi ew s bec onside red  in  develo ping an d  im pl e m e nt ing decisions take nb y  i nternati onal f i na nc i al insti tu tio ns.F or it s pa r t,  Gabon h ad con s ol id ated it sfinanc ia l b ase , rei n forc ed tra nsparenc y inp ublic resource management an d  g o v er n ance , p romoted mic rofi n ance , im p ro ved busin ess c om p et i tiveness, and madeth e econ omy m ore attractiv e to inves t m e nt. Welc omin g  t h e Group of 8’s  deci sion to re l ieve deb t inhighly i ndebted p o o r countr ies , h e s aid h is  country hadd e vote dimporta ntresourc estodeb t,wh ich could  have be en  u se dtoincre a se inves tm ent sininfra s tructu re an d re du ce pov erty.
C ON O R  LEN IH AN , Mi nis te r for  Dev e lop ment Co operation  of Irel an d,  said t hat, as the w or ld’s leadi ng  ai d dono r ,  the Eur opean Union was playing its par t i n tak ingforward t heMonter rey Consen sus. H e was  p rou d thatt h eUni on  would dou b l e i ts OD Abetw een 200 4 and 2010. It wou l d r each the targ etof 0 . 7  b y 2 0 15 .  He  n o ted t hat 2005 was acritical y ea r  f or the poo r est  p eople o n the p lanet .  It was  critical  becausewo rldl e ade rs would a ccount f or what t h ey ha d  d one o ver  the l as t f ive y ears t o  me et th eir co mm itment s aro un d eradic ating hunger and povert y. Itwas a lso  a critic alo ppo rtunity f or d evelopingcou ntr ies t o s h ow th at,w it h t h e sup port of theird ev elo p m en t partners, t h eywerestr e ngthen inggovernance at the country level.  Bet t e r g ove r nanc e,  bringing incr eas ed t ranspare nc y and accou ntabilit yt o loc al and  natio nal lev e l so f gove rnme nt,  must besee n, not pri ma ri l y as a  qui dpro qu o fori ncre a s ed aid, but as a n ess e n tialf act or in  i tself i n  red ucing pove rty.

The r ecentGrou p of8 annou nc ementtoca ncel the d e bt owed b y cer tain co un trie s w as sig nifi c a nt pr ogre ss  to wards sol v i ng th ep rob lemof th ir d wo rld debt, he said.  Ir e land ha dcal l e d for1 00 p er cent de btcance l l ation fora ll h e av i ly in debted  poorcountri e s s in ce 2002 . T h e  successof debt-r e lie for d ebt-canc el lati on  ef fo rts was princip ally mea sured by h ow muc h i t  inc r easedth e money avai lable  t o  the be n e fic iary go v ern men t f or s pen ding on poverty eradication.Thequali t y a nd ef fecti ve ness ofa id w as anoth e r critical is sue for develop m ent .  Onl y i f  d ev elopment
 achieved_the expected_results. In addition, direct_foreign investment_was_focused on_a_small number of_countries, which had_slowed down economic development._Hopefully, the WTO_failure_to reach agreement at Cancun, Mexico, would be rectified at its upcoming meeting, and_trade_would improve_between_developed_and developing countries. As for_ODA, it was clear that_commitments made_in Monterrey to double development assistance had not_been_honoured, resulting in_financing deficits in many nations. He welcomed initiatives to_find novel forms of financing, including_international taxation and_debt_relief._It was also important_that developing country views be considered_in developing and implementing decisions taken_by international financial institutions.

For its part, Gabon_had consolidated its financial base, reinforced_transparency in public resource management_and governance,_promoted microfinance, improved business competitiveness,_and made the_economy more_attractive to investment._Welcoming the Group of 8’s decision_to relieve debt_in highly indebted poor countries, he_said_his country had_devoted_important_resources to_debt, which could_have_been used_to_increase investments in infrastructure and reduce_poverty.

CONOR_LENIHAN, Minister for Development Cooperation of Ireland,_said that, as the_world’s_leading aid donor, the_European Union was playing its_part in taking forward the Monterrey_Consensus. He_was proud_that the Union would double its ODA between 2004 and 2010._It would reach the target of_0.7 by 2015. He_noted that_2005_was a critical_year_for the_poorest people on the planet. It was_critical because_world leaders would account for what_they had done over_the_last five years to meet their_commitments around eradicating hunger and poverty._It was also a critical_opportunity_for_developing countries to show that,_with the support of their development_partners, they were_strengthening governance at the country level. Better_governance,_bringing increased transparency and accountability to_local_and national levels of government, must_be_seen,_not primarily as a quid_pro quo for increased aid, but_as an essential factor in itself in reducing poverty.

The_recent Group of_8 announcement to cancel the_debt_owed_by certain countries was significant progress towards solving the problem_of third_world debt, he_said. Ireland had called for 100 per cent debt cancellation_for all heavily indebted poor countries since_2002. The success of debt-relief or debt-cancellation efforts was principally measured_by how much it increased the money available_to the beneficiary government for spending on_poverty eradication. The quality_and_effectiveness of aid was another critical issue_for_development._Only_if development