Despite current financial challenges, countries have continued to pledge a significant amount of resources at the United Nations Pledging Conference.

But while commending such efforts, Permanent Representative of The Bahamas to the United Nations, Dr. Elliston Rahming said such commitments remain well below current needs.

“I would thus like to encourage all countries to renew and increase their pledges. I hope this year the Pledging Conference will indeed result in a growing level of solidarity and financial commitments in support of developing countries, especially the poorest in facing mounting challenges and risks,” Dr. Rahming said on Monday.

At the time, he was presiding over the 2013 UN Pledging Conference for Development Activities.

Expressing thanks for having been elected to preside, Dr. Rahming said the annual event “is an opportunity for all member states to announce their pledges to support a large number of United Nations funds and programmes as well as UN Women.”

“The Pledging Conference is a unique mechanism to ensure more predictable, flexible and sustainable funding for the UN operational activities for development,” he said.

“This objective is even more compelling given the uncertainty and volatility of development cooperation. Some UN agencies have already felt the implications.”

The Pledging Conference is “an opportunity for all countries to demonstrate their commitments to support the implementation of the internationally agreed development goals, including the MDGs (Millennium Development Goals) and show their support to the role and character of UN operational activities for development.”

The UN is the world’s largest multilateral organization comprised of 193 independent states with an annual budget of $14 billion.