The G-77 met Saturday morning to discuss the new text for paragraph 16(a)(i) of the finance chapter, which deals with IDA replenishment. Although not all G-77 members were satisfied with the text, they agreed that this may be the best available compromise.
Meanwhile, consultations continued on paragraph 15 on targets and timetables for ODA. As of Saturday morning, the document under discussion contained five formulations of the sentence that applies to those countries that have already affirmed a target of 0.7% of GNP for ODA by the year 2000. One of the problems faced in these consultations was the lack of finance ministers present in Rio. It was hoped that ministers and delegates would consult with their finance ministers during the course of the day so as to facilitate the decision-making process. One of the major sticking points is the inability of the EC to reach consensus. While the Netherlands and France support 0.7% of GNP for ODA by the year 2000, Great Britain and Germany do not. The United States has not been involved in the discussions since they are not affected by the resolution of either targets or timetables for increased ODA, having never committed to such targets.
At 3:30 pm the door opened and the participants emerged with an agreed text. After consultations with the regional groups, it was apparent that further consultations were necessary. Just before 7:00 pm, agreement was reached. The new text, which begins after the second sentence in the existing paragraph, reads: "Developed countries reaffirm their commitments to reach the accepted UN target of 0.7% of GNP for ODA and, to the extent that they have not yet achieved that target, agree to augment their aid programmes in order to reach that target as soon as possible and to ensure a prompt and effective implementation of Agenda 21. Some countries agreed or had agreed to reach the target by the year 2000. It was decided that the Commission on Sustainable Development will regularly review and monitor progress towards this target. This review process should systematically combine the monitoring of the implementation of Agenda 21 with a review of the financial resources available." The paragraph then resumes with the existing text beginning with "Those which have already reached the target are to be commended and encouraged..."
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