RIO DE JANEIRO: Reflecting the concerns of India, the Rio+20 Summit has said that developing countries needed additional resources for sustainable development and that unwarranted conditionalities on Official Development Assistance (ODA) and finance should be avoided.
India’s Prime Minister Manmohan Singh in his address at the Summit attended by 125 world leaders had said “many countries could do more if additional finance and technology were available. Unfortunately, there is little evidence of support from the industrialized countries in these areas (reducing emissions intensity). The ongoing economic crisis has made matters worse.”
Describing economic development, social inclusion and environmental sustainability as all equally critical as components of sustainable development, Singh said that the task before the world community is to give practical shape and content to this architecture in a manner that allows each country to develop according to its own national priorities and circumstances.
The world leaders in their declaration said they recognized the crucial importance of enhancing financial support from all sources for sustainable development for all countries, in particular developing nations.
At the same time, the summit called on all countries to priorities sustainable development in the allocation of resources in accordance with national priorities and needs. -PTI