The United Nations International Conference on Financing for Development.

The international Conference on Financing for Development (Monterrey, Mexico, 18-22 March 2002) signaled a turning point in the approach to development cooperation by the international community.

More than 50 Head of State and Government and over 200 Ministers of foreign affairs, trade, development and finance gathered in Monterrey. They were joined by the Heads of the United Nations, the International Monetary Fund,  the World Bank and the World Trade Organization, business and civil socity leaders.

The Monterrey Consensus has become a reference point for international development cooperation. It embraces six areas of Financing for Development :

• Mobilizing domestic financial resources for development.
• Mobilizing international resources for development: foreign direct investment and other private flows
• International Trade as an engine for development.
• Increasing international financial and technical cooperation for development.
• External Debt.
• Addressing systemic issues: enhancing the coherence and consistency of the international monetary, financial and trading systems in support of development.

The Follow-up International Conference on Financing for Development to Review the Implementation of the Monterrey Consensus (Doha, Qatar, 28 November - 2 December 2008) allowed the adoption of The Doha Declaration on Financing for Development.