The Monterrey Consensus established a sustained intergovernmental follow-up process in both the General Assembly and the Economic and Social Council. In addition to considering different financing issues on the annual agenda of its Second Committee, the Assembly, every two years, now hosts a two-day High-Level Dialogue on Financing for Development. ECOSOC also holds an annual high-level meeting in the spring on different aspects of the Monterrey Consensus with the leadership of the World Bank, the IMF, the World Trade Organization and (since 2004) UNCTAD.
In line with the innovative and participatory modalities established by the Monterrey Conference, inter-agency support to the follow-up involves close collaboration among all concerned institutions and organizations, and a systematic outreach effort. The Financing for Development Office (FFDO) of the UN Department of Economic and Social Affairs, the World Bank, IMF, WTO, UNCTAD, UNDP and the regional commissions cooperate closely in preparing the follow-up reports for the General Assembly.
Within their respective mandates, they also work together to organize multi-stakeholder consultations on the Conference follow-up. Open to Member States and relevant civil society and business organizations, these consultations bring different stakeholders together to strengthen and advance the work underway on each set of issues by official bodies, civil society and private groups.