International Policy Dialogue on Social Protection
The UNDP Seoul Policy Centre, with sponsorship from the Korean Ministry of Foreign Affairs and Trade, will host a policy dialogue on ‘Mitigating vulnerabilities and promoting resilient growth: sequencing, cost-efficiency and fiscal-sustainability of social protection’ at the Shilla Hotel, in Seoul on the 1st and 2nd of November 2012. The morning of the 1st of November will be open to the public.
The two-day dialogue will address policy options on building social protection systems that protect the most vulnerable, contribute to sustainable growth and development and boosts resilience to shocks.
The event will be for countries at a range of different stages of development.
High level attendees include Kim Bong-hyun, Korean Deputy Minister for Foreign Affairs, Mr Valdrack Jaentschke, Vice Minister and Secretary for Foreign Assistance of Nicaragua, Mr. Mauricio Olivera Gonzalez, Vice-minister of Labour and Retirement Pensions of Colombia and other high level officials from a range of developing countries and international organisations, research institutes and academia.
Discussions should contribute to the G20 Development Working Group (under pillar 6) and other forums addressing issues of social protection. The event will also support knowledge exchange through a community of practice.
Social protection matters
The recent global economic and financial crisis confirmed the importance of well-designed, prudent social protection systems to cushion economies against shocks and to achieve more sustainable, balanced and inclusive growth.
In an ever globalizing world, countries are faced with increasing challenges of tackling vulnerabilities to internal and external shocks.
Social protection is gradually being recognized not only as the first line of defence to protect the most vulnerable when a crisis hits but also for its productive and global rebalancing role. Many countries recognize that social protection must be embedded in their national socio-economic development strategies.
As a result, social protection has gained prominence in the international development agenda in different forums, in particular under pillar 6 of the G20 agenda on resilient growth. Translating commitments into implementation will require efforts to design policies that extend protection measures to the most vulnerable and provide sustainable financing.