Anna Valkova: G20 a unique platform for advancing development issues
Anna Valkova, Deputy Director of the Department of International Financial Relations at the Russian Ministry of Finance, spoke about the G20 Development Working Group's role in the G20 agenda and the Russian presidency's development initiatives during the briefing, "The G20 Growth Agenda."
The results of the group's work have been summarized in a report produced through a cooperative effort involving not only the G20 members but also invited countries, representatives of international organizations and various outreach groups, including civil society and business representatives.
"This cooperation has enabled us to produce a balanced document that reflects the positions of various parties," Valkova said.
The document uses an innovative methodology called "traffic light," which classifies the commitments taken by various countries according to their fulfillment criteria. "This technique enables us to identify delayed commitments and commitments that have not been fulfilled at all," she said.
"The report proposes several tools to achieve our main goal - to stimulate the development of measures and policies for emerging countries, especially for low-income countries," Valkova said. A high-level panel was set up as part of the group's work, which gave an impulse to a revision of the international development banks' action plan, and worked out measures to eliminate "tight spots" in infrastructure development and to expand financial inclusion.
Also presented at the briefing was the St.Petersburg Development Strategy, a comprehensive strategic report defining the goals and foundations for further development, as well as specific steps included in the G20 agenda.
"The Development Working Group recognizes the need to use various funding sources to implement the international projects included in this document," Valkova said. "At the same time, there is an understanding that some projects require voluntary cash injections on the part of the G20." Furthermore, the implementation of some of the strategic documents presented requires direct coordination of effort with representatives of the Finance Track and the Sherpas' Track.
While working on these documents, the G20 Development Working Group focused on its main areas of activity, such as human resources development, food security, domestic resource mobilization and infrastructure development. Further work and decision-making on these issues will ensure continuity of the G20 work, Valkova said.
While answering questions, she said the group has achieved solid results and important initiatives have been proposed. One of the most important achievements is the establishment of the Global Partnership for Financial Inclusion.
According to Valkova, Russia, in partnership with the International Labour Organization, is financing a project to develop indicators for countries to improve the quality and relevance of vocational training in order to better meet labour market needs. "This project is meant for medium-income countries, including those in Central Asia and Eastern Europe," she added.
At the end of the briefing, Valkova expressed satisfaction with the results of the work during the Russia's G20 Presidency, and pointed out the uniqueness of this forum. "The G20 is a unique platform for advancing development issues, considering its position as a leading forum addressing international cooperation in the economy and finance," she said.