November 14: Finance Minister Dr Yuba Raj Khatiwada formally inaugurated the annual meeting of the International Aid Transparency Initiative’s (IATI) Technical Advisory Group (TAG) in Kathmandu on Tuesday, November 13.

According to the ministry, more than 150 representatives of the governments of all the regions of the world, development partners, civil society members and media will be attending the 3-day meeting at Hotel Soaltee Crowne Plaza.

“This meeting holds special importance for Nepal for the reason that the venue of this meeting has been chosen in Asia for the first time in the history of the organization,” reads a statement issued by the ministry.

The finance minister expressed his appreciation to the organizers for choosing Nepal as venue to hold this important meeting.

In his opening address, the Minister Khatiwada stressed that foreign aid resources must complement, rather than crowd out, domestic resources mobilization. He expressed his view that the ultimate objective of any aid program should be to build domestic resource capacity so that the recipient countries such as Nepal can reduce, rather than prolong, their dependency on aid.

The minister also stressed on the importance of improving transparency of aid resources, noting that transparency is the basis for accountability, which in turn ensures that development cooperation resources are better managed for results.

“Development cooperation must support efforts to avoid conflict, protect harmonious social fabric, build peace, and improve global governance,” the statement quoted the minister as saying.

The minister also recalled the aid effectiveness principles set out in the Paris Declaration and the Accra Agenda for Action, suggesting that initiatives like IATI have an important role to play in monitoring the implementation of such principles.

With reference to the Sustainable Development Goals, he asked the audience to consider whether there should be a specific indicator in SDG 17 focusing on ensuring aid transparency.

While appreciating the role of global aid transparency initiatives such as IATI, the minister also recognized the enabling role that partner countries such as Nepal must play, including in the design of credible programs, strategies and policies which allow for cooperation resources to produce intended results.

Started in 2008, IATI is a global, multi-stakeholder initiative that seeks to improve the transparency of development and humanitarian resources for addressing poverty and crisis. It’s technical advisory group is an expert community that informs IATI’s approach to data publication and use.