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Responding to Monterrey

Creating Mechanisms to Increase Funding for Social Programs to Alleviate Poverty. Responding to Monterrey. National Endowments for Social Action. L. Ronald Scheman, Director General, IACD. Objectives.

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Responding to Monterrey

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  1. Creating Mechanisms to Increase Funding for Social Programs to Alleviate Poverty Responding to Monterrey National Endowments for Social Action L. Ronald Scheman, Director General, IACD

  2. Objectives • Develop viable mechanisms to attract additional financial resources to meet the countries’ development priorities • Promote collaboration among the stakeholders and enhance meaningful public-private sector and civil society involvement in the development processes

  3. Political context • Summit of the Americas • UN Millennium Declaration • Monterrey Consensus • OAS General Assembly • Ministerial Meetings

  4. Rationale • Improve the enabling environment as a basis for fulfilling the goals of Monterrey and the Millennium Challenge Account • Transparency • Public/private partnerships • Involvement of civil society • Institutional structure that will generate confidence & have credibility with donors • Many individual bond holders create new environment for donations of debt

  5. The Need • National institutions with multi-partite governance dedicated to poverty alleviation and delivery of social services • There is not one solution that will fit all challenges • The IACD offers NESA as a basis for discussion in how to address the resources challenges facing development cooperation in the region

  6. NESA - Mechanism • Governance by partnership of government, private sector, and civil society • Tax-exempt institution • Professional management • Result-based quality projects • Transparency and accountability in operations • Delivery of services by collaboration of civil society organizations with government

  7. Governance of NESA: A Second Tier Development Institution Nominees Government Board of Directors Private Sector Civil Society Advisory Board - Distinguished Development Experts - Donors - OAS, IDB, ECLAC Professional Management Board of Auditors and Evaluation

  8. NESA - Potential Resources • Non-reimbursable Official Development Assistance • Private contributions, through the Potential offered by tax-exempt institutions • Conversion of public and private debt and bondholder contributions

  9. Monterrey Criteria: Increase Grants: Reduce DebtObjective – Rechanneling debt through contributions of debt to NESA Loans A, B, C Donor Developing Country Original Transaction Interest + Principal Conversion Renegotiates and Pays Interest Loan A Donates Loan A NESA Grants to Social and Poverty Alleviation Projects

  10. Building on past experiences • Multi-partite concertation: Acuerdo Nacional in Peru, Convergencia in Nicaragua • Foundations to attract private funding: Luso-American foundation, National Endowment for Democracy – U.S. • Debt conversion mechanisms: Canada’s line of credit for housing in Central America, Italy’s initiatives in the Andean countries

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