Reduce inequality within and among countries
Select a target for more information about UNCITRAL's role.
Internationally recognized standards elaborated by UNCITRAL promote equal opportunity, reducing inequalities of outcome and addressing issues of discrimination. UNCITRAL’s work on security interests, for example, aims at creating a level playing field for all with respect to access to and cost of credit. The General Assembly has emphasized the relevance of UNCITRAL standards to "generating inclusive, sustainable and equitable development, economic growth and employment, generating investment and facilitating entrepreneurship", to "peace, stability and the well‑being of all peoples," to "universal economic cooperation among all States on a basis of equality, equity, common interest and respect for the rule of law" and to "advancing good governance, sustained economic development and the eradication of poverty and hunger." It encourages States to use UNCITRAL standards in implementing commercial law reform. UNCITRAL, through its secretariat, assists States to understand, use, enact, interpret and apply its standards. See also target 16.b for discussion of related issues.
The General Assembly and UNCITRAL have underscored the importance of the work of UNCITRAL for developing countries and expressed a desire to support developing States to increase their representation through "persons of eminence in the field of the law of international trade," with a view to their contributing more actively to the creation of uniform trade law. Achieving broader, more expert representation is considered important not only for preparing internationally acceptable commercial law standards, but also for building local expertise and capacity "to put in place a regulatory and enabling environment for business, trade and investment". See also target 16.8 for discussion of related issues and details of the trust fund established to provide travel assistance to developing countries that are members of UNCITRAL.
One of the sources of finance for development is multilateral and international aid. Donors, where concerned about a lack of transparency and accountability, complicated and high cost procurement practices and mismanagement of public funds, will be reluctant to disburse funds. Under the aid effectiveness framework, recipient countries have undertaken to implement reforms in these sectors of their economies. In response, donors have committed to progressively rely on partner country systems when the country has implemented mutually agreed standards. See also targets 1.a, 17.1, 17.3 and 17.5 for discussion of related issues.