Albeit bracketed, the Programme of Action contains
language on the 20:20 proposal. Seen as one of the more innovative ways to mobilize
and re-allocate funds for human development expenditures, it is estimated that if
implemented, the initiative could make available close to US$30 to US$40 billion in
additional resources. While it has gained currency throughout the two weeks of
PrepCom III, there is continuing resistance among certain developing countries based
on the perception that 20:20 might establish a cap on existing ODA or impose new
conditionality on existing funds. Developed countries, on the other hand, resist the
concept partially out of the fear that it will tie them closer to commitments at a time
when only four countries are meeting the UN target of 0.7% of GNP for ODA. On the
debt issue, some of the important language remains bracketed. At the heart of the
debate is the extent to which governments will agree to alleviate multilateral debt.
While progress has been made in the area of bilateral and commercial debt relief,
there has been considerable resistance around multilateral debt relief, especially for
lower-middle and middle income developing countries.