Solheim: We must stop resources being stolen from the world’s poor

“There is a striking lack of openness in the international financial and business sector. This facilitates illicit financial flows that drain developing countries of enormous sums of money,” says Minister of the Environment and International Development Erik Solheim.

On Tuesday 1 April, Solheim will open a two-day meeting of international experts in Oslo, where measures to combat illicit financial flows will be identified and discussed. Among the experts taking part are Special Adviser Eva Joly (Norad), Senior Adviser David Spencer (Tax Justice Network) and Director Raymond Baker (Global Financial Integrity).

Norway heads the working group, which is made up of participants from a range of countries, as well as the UN, the World Bank, the International Monetary Fund, research centres and NGOs. This is the second time the group will be meeting in Oslo.

“Poor countries are being drained of huge sums of money. What’s more, the activities giving rise to illicit financial flows are extremely destructive seen from a society-building perspective. If the fight against illicit financial flows is to succeed, widespread support and broad alliances are essential. For this reason, I am very pleased to see that there is great interest in efforts in this area,” Mr Solheim comments.

“We hope that these knowledgeable and committed people can work together to put this issue higher on the international agenda. We already have an agreement with the World Bank to organise an international conference this autumn on the negative effects of illicit financial flows from developing countries,” Mr Solheim says.

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