UN General Assembly
2010

The Republic of Guinea welcomes the progress made in recent years with regard to official development assistance. However, it regrets that long- standing commitments and those entered into more recently are far from being met. It is vital to reflect on all standard and supplementary sources of financing for development. Innovative financing is becoming an increasingly important means to mobilize additional, predictable and stable resources to supplement official development assistance. Guinea, which attaches great importance to an increase in official development assistance, reiterates its proposal on organizing an African conference on innovative financing and drawing up a draft African declaration on transparency of financial governance and fighting illegal capital flows. The purpose of that conference would be to promote strategies to mobilize innovative financing as a complement to traditional aid and the domestic resources needed to fund the MDGs. The draft African declaration on transparency of financial governance and fighting illegal capital flows would seek to stem the immense capital outflows from Africa by redirecting them towards development of the continent. Those proposals were warmly welcomed by