Economic and Financial Committee
Known as the Second Committee of the United Nations General Assembly, The Economic and Financial Committee deals with issues revolving around the economic growth and development of the globe.
In particular, the Second Committee tackles macroeconomic policy questions, development financing, sustainable development, etc. At HMUN Mock 18, the committee seeks to draft innovative solutions to find “mechanisms to bridge the humanitarian funding gap”. This is especially pressing as more people are in need of humanitarian aid than ever. At 360 million people, global humanitarian needs have soared by 30% since the beginning of 2022, with 110 million people having been displaced out of their homes and over 260 million facing severe food insecurity and famine.
Ordinary people in vulnerable parts of the world are paying a cruel price caused by ongoing violent conflicts, economic disasters started by COVID-19 and exacerbated by the Russian-Ukraine war, creating a widening gap in the demand for humanitarian aid and the resources available to fulfil such needs. For instance, by June 2023, only 20% of funds needed were received by the UN under the Global Humanitarian Appeal.
Creating financial mechanisms in order to maximise the impact of aid in crisis prevention and recovery is at the top of the global agenda. How do we mobilise resources so as to render the aid supply chain as efficient as possible? How do we make every dollar go as far as possible, reach as many of those in need as we can? How do we increase humanitarian resources while preventing the sprouting or ongoing of crises? How can we invest in, gather and deliver aid that can revert the global humanitarian crisis?
Delegates, the answers to those questions lie in you.