Mission

The Monterrey Consensus recognizes that urgent development needs for poverty reduction, job creation, and improved living standards cannot be achieved without significant and sustained investment by the private sector.  To implement the Monterrey Consensus, the Global Clearinghouse Initiative has developed specific Financing for Development Tools.

The Global Clearinghouse for Development Finance (GlobalDF”) conducts activities to improve the social and economic stability and growth of developing countries through: (i) promoting the sharing of information, knowledge and resources among governments, international organizations, non-profits and the private sector for the benefit of developing countries; and (ii) providing training and advisory services and developing and deploying communication technologies to support the foregoing objectives.

GlobalDF activities are specifically designed to increase the capacity of the public and private sectors to implement the United Nations (“UN”) commitments made by all UN Member States to be more effective in mobilizing the private sector for development (i.e., improved living standards and the achievement of the UN Millennium Development Goals). The historic commitments of the UN Monterrey Consensus, ratified in Monterrey Mexico in March 2002, include the creation of business-enabling environments, effective use of risk mitigation instruments, innovative finance, creation of public-private partnerships, improved social responsibility of the private sector, investment promotion and SME linkages, and stronger risk management for a more stable and sustainable global financial system. Please see the Addendum for the UN-approved text of the Monterrey Consensus.[1] The conceptual foundation for GlobalDF was set out in a UN Discussion Paper commissioned by the UN written by GlobalDF Executive Director Dr. Barbara Samuels.[2]

Since 2002, three “Financing for Development Tools” have been developed as Global Public Goods to implement the Monterrey Consensus objective of mobilizing private sector resources for development, advancing the capacity of developing country governments, and the aid effectiveness of development agencies and donors. The FfD Tools are designed to use simple communication technologies to enable more effective collaboration and catalytic exchange between governments, the private sector, and development agencies needed to breakthrough long-standing impediments to achieve results across all developing countries.

Specific deliverables include:

  • Identification of critical investment impediments and possible remedies, enhancing the capacity of developing country governments to improve enabling-business environments;
  • Open access for investors worldwide to credible, timely, relevant information on all developing countries, including regions, sectors, assessments of risks and opportunities, and risk management services and strategies;
  • Sharing of success stories, best practices, effective crisis prevention policies, and development strategies; and
  • Development of innovative and effective financing mechanisms.


As an independent expert initiative, the focus of GlobalDF is on building grassroots capacity and bridging costly communication gaps between investors and governments in areas critical to effectively mobilizing private sector capital. GlobalDF tools are aimed at harnessing expertise from across the private and official sectors:

  • Easy Open Access to a Development Finance Portal -- enabling investors worldwide to easily access information on all developing countries in a one-stop-shop;
  • Availability of Cost-Effective Government-Investor Networks -- enhancing government capacity to improve business environments, transparency, and accountability; and
  • Independent Infrastructure Expert Group (INFRADEV) -- providing expertise and recommendations on financing options to policy makers and investors.

GlobalDF is committed to employing cost-effective communication and internet technologies to improve communication and the sharing of information between governments, international organizations, investors, and analysts worldwide – in effect improving and streamlining the "information plumbing" and communication capacity of the global financial system, organizations, and governments.


BACKGROUND RESEARCH
GlobalDF is based upon many years of intensive research and consultations with investors in developing countries funded with the generous support of the United Nations, the Ford Foundation, the Norwegian government, the Swiss government and the Council on Foreign Relations (New York, New York). The initiative has also benefited from the support and input of the other business interlocutors of the United Nations Conference on Financing for Development -- the Business Council of the United Nations, the International Chamber of Commerce, the Money Matters Institute, and the World Economic Forum - all engaged in developing public-private initiatives to mobilize private sector for development.

Below are hyperlinks to three research papers written by GlobalDF Founder Dr. Samuels that have been instrumental in the development of the concepts underlying the Clearinghouse and its tools, representing consultations with over 600 investors in developing countries:

Building on the Monterrey Consensus: The Untapped Potential of Development Finance Institutions to Catalyse Private Investment (World Economic Forum, 2006) http://www.weforum.org/pdf/Financing/Monterry.pdf

Strengthening Information and Analysis in the Global Financial System: A Concrete Set of Proposals (United Nations DESA Discussion Paper No. 23, June 2002) http://www.globalclearinghouse.info/POC4/Documents/esa02dp23.pdf

Roundtable on Country Risk in the Post-Asia Crisis Era: Identifying Risks, Strategies, and Policy Implications -- Key Recommendations from Working Group Discussions 10/99 - 9/00 (Council on Foreign Relations, New York, New York, 2000) http://www.globalclearinghouse.info/POC4/Documents/CFR Report 9-11-00.doc
 

Other related research and presentations conducted by Global Clearinghouse founder Dr. Samuels include the following:

  • "Applying Global Standards and Codes in the Low-Income Country Context," presentation to the United Nations and Friedrich Ebert Foundation Conference on "Mobilizing Capital in the Interest of Development," New York, New York, April 26-27, 2001.
  • "The Challenge of Globalization: Problems and Solutions," presentation to The World Policy Institute, New School University, November 2, 2000.
  • "Strengthening the Global Financial System: From Architecture to Preemptive Action," presentation to the Second Committee of the General Assembly, United Nations, New York, New York, October 10, 2000.
  • "The Global Risks Facing International Investors," presentation to Institutional Investor's Asia-Pacific Forum, Singapore, March 2-3, 2000.
  • "Reconsidering Credit Rating Criteria," presentation to the Friedrich Ebert Foundation Conference "The Global Credit Ratings System and Developing Countries; Building Confidence in the Process of Globalization," New York, New York, October 28, 1999.
  • "The New Dimensions of International Risk," presentation to the Senior Executives Roundtable, Institutional Investor Institute, Bermuda, November 11-13, 1999.
  • "In Search of the Market Failure in the Asian Crisis, " The Fletcher Forum of World Affairs, Vol. 23:1. Winter/Spring, 1999, pp. 131 - 144.
  • "Assessing the Effectiveness of Existing Country Risk Models," presentation to the AIC Conference on "Country Risk in Emerging Markets," London, February 9-10, 1998.
  • "The Changing Nature of Sovereign Risk," presentation to the Investment Roundtable, The European Institute, Oslo, Norway, February 26-27, 1998.
  • Chairperson, AIC 1998 Conference "Country Risks in Emerging Markets," London, June 25-27, 1998.
  • "How Markets Failed Asia," The International Economy, November/December 1998, pp. 34-37.
  • "Implementing Effective Early Warning Signals to Monitor Country Risk," presentation to Emerging Market Investor Conference on "Country Risks in Emerging Markets," New York, July 20-21, 1998.
  • "Credit Ratings: The View from the Bridge," presentation to Money Matters Institute Conference for Mexican pension fund managers, Boston, August 26, 1997.
  • "Judging the Judges," presentation to the Money Matters Institute Conference "The Promise and Power of Private Pension Funds, " Nuevo Vallarta, Mexico, May 16-17, 1997.
  • "Country Risk Analysis," presentation to the 1997 AIMR Annual Conference "On the Delta: The Investment Profession in Transition," New Orleans, Louisiana, May 11-14, 1997.
  • "The Changing Nature of Sovereign Risk," presentation to Institutional Investor's Fixed Income Forum, Chicago, March 13-14, 1997.
  • "Emerging Markets: The Overall Outlook and the Risk of Divergence," presentation to the World Times Conference on the "Role of Private Finance in Sustainable Development," the Boston Harbor Hotel, Boston, March 21, 1996.
  • "Attractiveness of Emerging Markets," presentation to the 1995 Financial Panel, Europe Research Council Conference, Amsterdam, March 21-22, 1995.
  • "Emerging Markets are Here to Stay," Foreign Affairs (November/December 1995).
  • Managing Risk in Developing Countries: National Demands and Multinational Response (Princeton University Press, 1990).
  • "Country Risk Redefined: Positioning for the '90s," Leaders Magazine, October 1990, volume 13, number 4.
  • Chairperson, 1989 Conference of the Association of Political Risk Analysts: "Global Assessments for the 1990's: Leveraging Economic and Political Factors within Strategic Decision-Making."
  • "Study of US and USSR Joint Ventures," research paper prepared for the US-USSR Trade and Economic Council, 1989.

[1] For additional information on the United Nations MONTERREY CONSENSUS, see http://www.un.org/esa/ffd/monterrey/MonterreyConsensus.pdf. For information on the UN Financing on Development Office responsible for follow-up of Monterrey Consensus, see http://www.un.org/esa/ffd/overview/mission.htm

[2] For the UN Global Clearinghouse Discussion Paper, please see: http://www.globalclearinghouse.info/POC4/Documents/esa02dp23.pdf