A/HRC/28/33 responsibility to ensure that non-State actors, including the private sector, respect children’s rights as set out in the Convention on the Rights of the Child. Global partnerships are needed to tackle illicit financial flows and tax avoidance through international cooperation. States should develop an international agreement on the multilateral automatic exchange of tax information, commit to and implement a public register of beneficial ownership information for companies and trusts, and require public country-by-country reporting for multinational companies.41 VII. Obligations of international assistance and cooperation 54. The obligation under article 4 of the Convention on the Rights of the Child to use all available resources to implement children’s rights goes beyond those in the national context, and extends to those available from the international community through international assistance. Countries with resource constraints have the responsibility to seek international cooperation and assistance to ensure the widest possible enjoyment of the rights of the child. States should ensure that they have explored all opportunities to secure access to funding and expertise through international cooperation, including official development assistance, grants and technical assistance. Where States raise funds through borrowing or loans, this should be achieved under the best financial terms possible, on the basis of the principles of responsible borrowing, to ensure sustainable financing for children. States should also ensure that they have rules and standards in place for responsible lending and borrowing by any government entity at any level, and oversight mechanisms for their enforcement. When signing international financial agreements, which may include conditions relating to budget allocations, States must give due consideration to the impact that the agreement may have on children, and protect critical expenditures for them. 55. Conversely, the realization of children’s rights must be recognized as a shared responsibility of developed and developing countries. When States ratify the Convention on the Rights of the Child, they accept the obligation to implement its provisions within their jurisdiction. They also accept to contribute, through international cooperation, to the global implementation of the Convention, recognizing that some States will not be able to achieve the full realization of economic, social and cultural rights unless other States in a position to assist do so.42 56. Donors must take a child rights-based approach to the allocation and utilization of official development assistance. When a State makes decisions about granting a loan, either as an individual Government or as a member of an international financial institution, it should consider its human rights obligations when imposing conditions on fiscal policies so they do not jeopardize the rights of children in the recipient State or undermine that State’s ability to use maximum available resources to realize economic, social and cultural rights. 43 States must prioritize responsible lending and borrowing, and ensure that international trade and economic transactions advance sustainable development and children’s rights.44 41 42 43 44 14 Save the Children, Framework for the Future (see footnote 38). CRC/GC/2003/5, para. 7. A/HRC/26/28, para. 33. Save the Children, Framework for the Future (see footnote 38).