Changes to text were accepted to reflect the need to address the recurrence of financial crises arising from volatile movements of private capital. Delegates deleted EU-proposed text identifying the GEF as the principal mechanism for funding sustainable development in developing countries. A contact group was established to review text on the establishment of an ad hoc intergovernmental panel to study the fulfillment of financing commitments. In the evening, Drafting Group II reviewed a revised draft on Economic Growth, Trade and Investment. Following discussion, Chair Seok-young proposed deleting text referencing poverty eradication.
Text remains bracketed.
The EU suggested text calling for the equitable distribution of gains from trade between nations, to achieve sustainable development. Chair Seok-young suggested delegates resolve the matter informally. The phrase remains bracketed. The term was bracketed. The US opposed this.