UN Transcripts — https://transcripts.un.org/en/asset/k13/k13e3b8a5s First Biennial Summit for a sustainable, inclusive and resilient global economy: Implementing commitments on financing the SDGs — 24 September 2025 Language: en Automatically generated transcript — may contain errors. Not an official United Nations record. --- Center for Global Development · Moderator · Masood Ahmed [0:00]: Good morning. Good morning, Excellencies, ladies and gentlemen, please, could we work our way to our seats so that we can get started with this session? Thank you very much for taking your seats. Thank you. Good morning again, Excellencies. Let me welcome you to this first biennial summit for a Sustainable, inclusive, and resilient Global Economy. Right now, this year, it's all about implementing the commitments that have been made in financing for the 2030 Agenda and the SDGs. I am Masood Ahmed, President Emeritus of the center for Global Development, and it is my honor to serve as the moderator for this first plenary session of today's summit. Today's gathering is convened by His Excellency, the Secretary General, who is sitting two away from me. And I will be turning to him shortly to give us his views, his perspective, his. His instructions, what he would like to see coming out of this meeting today. But before I do that, let me just take a couple of minutes to say two things. First, on substance, I think there's no need for me to remind all the people in this room about the urgency of aligning the global finance with the agenda of 2030. We've said it enough times that the majority of SDGs are off track, that financing graphs are growing and debt distress is widespread. This biennial summit, the first one, offers a unique opportunity then, to take stock of the financing commitments that have been made, including at the recent Fourth International Conference on Financing for Development. But elevating this to the highest political level. The issue is not a technical issue. There are many ways in which we could make progress, and yet we are not making the progress that is needed. The question then becomes today, can we take this one step further, further and identify what at the political level can be done to advance the delivery of commitments that have been made and to try and narrow that gap? Second, I want to say a word on housekeeping. We have 90 minutes allocated to this session. You all have many meetings during the day, and we have a very full list of distinguished speakers. So the only way we are going to bridge that gap between so many things to say and so little time is if all the speakers remember that they have an allotted time of four minutes to make their one or two points that would then go down. Second, housekeeping point I want to make is that we are joined remotely today by a graphic facilitator, Ms. Marcia Dunn, who will be listening closely to our discussions in real time. She will visualize the themes and insights that emerge from our session. You will see her visual synthesis at the end of this opening segment. And digital copies of her images will be made available after the summit. So with those housekeeping points out of the way, it's now my honor to invite His Excellency, Mr. Antonio Guterres, Secretary General of the United nations, to get us started. UN Secretariat · SG · Antonio Guterres [4:45]: Thank you, Excellencies, colleagues and friends. This summit is focused on taking stock of commitment leaders have made on financing for development. But allow me to briefly step back and take stock of this gathering itself. The biennial summit is not just another meeting. It's the first of its kind. We have heads of international financial institutions, leaders of major multilateral platforms such as G7, G20 and the president of COP30, heads of state representing major country groupings, including those that may not be the biggest economies in the world, but have the biggest stake in developing finance. This is networked, inclusive multilateralism in practice. We first proposed such an initiative four years ago, which was welcomed in the Pact for the Future. Why? Because we saw financing gaps widening and debt distress proliferating. International dialogue on finance spread across institutions and multilateralism, and the strain with developing countries often excluded from decision making, even in matters of their direct concern. But we also heard the voices of people loud and clear, struggling to make ends meet, falling further behind and wondering if leaders will act for them. This summit was envisioned as a space to help bring coherence, ambition, inclusivity and action to the global financing conversation. These efforts have advanced significantly in the last four years. We all agree that far more financing must be mobilized to advance the Sustainable Development Goals. We also understand that today's international financial architecture needs reform to respond to the world of today and the scale and complexity of its challenges. Excellencies. The summit is built on three key. First, cooperation, especially in light of collapsing aid commitments and rising trade tensions. Second, coherence to build bridges across the many spaces where dialogues on development finance are taking place. Third, inclusivity. The distribution of economic power in the world is grossly unequal and should not be basis for determining participation. Developing countries must have a greater say and sway in the decisions that affect them. As we focus on financing for development commitments, we have much to build on. A growing consensus has emerged on what needs to be done. Most recently in the Financing for Development conference in Sevilla, a consensus on ways to unlock more finance by strengthening the capacity of domestic resource mobilization, tripling the lending power of multilateral development banks to make them bigger and bolder, and improving our approach to leveraging private finance. Further details must be agreed in Belay on climate finance, A consensus on actions to take on debt with New instruments to reduce borrowing costs and risks, including from climate shocks. And faster support for countries facing illiquidity and debt distress. And consensus on steps towards a fairer system by amplifying the voice and participation of debtor countries, piloting solidarity levies and advancing inclusive international tax cooperation. Actions have been taken, but now we must go further. The summit provides the space to discuss how we move forward together. In this session, we will hear from three groups of leaders from multilateral organizations. We look forward to hearing what more you can do to deliver on commitments from multilateral platforms, to hear about what efforts you will champion, and from country groupings to focus on what actions you must need and what the global community should prioritize. And so I say again, this is a very unique summit with a powerful display of political capital. But meetings are not the objective. They are the means to deliver for people who are looking for action. Now, let us use this summit to strengthen our cooperation and take decisive steps towards a more resilient, inclusive and sustainable future. Center for Global Development · Moderator · Masood Ahmed [9:21]: And I thank you. And I thank the Secretary General. Thank you, Secretary General, for starting us off with a very clear agenda, but also a bit of what lies at the origin of this initiative, what's. What's brought us to this point and what we need to go forward. Let me now turn to Ms. Annelina Baerbock, President of the General assembly, to deliver her remarks. Madam baerbock, thank you. $4 trillion. GA · PGA · Annelina Baerbock [10:02]: Not billion, but trillion. That, almost unfathomable sudden, is a current gap in financing the Sustainable Development Goals. Some may say the number is too high. We can never possibly close the gap. But this ignores the fact that we already spent such amounts, not on schools and hospitals, on medicine or clean energy, but on defence. Last year alone, we collectively spent almost 2.5 trillion. So it's not about money and amount, it's about prioritization. Money matters. It matters to the 272 million children listed as out of school. It matters to the 600 million people in Africa who are waiting for electricity. It matters to hospitals and patients facing a shortage of 11 million healthcare workers. Mr. Secretary General, Excellencies, ladies and gentlemen, President of ECOSOC. It's an honor to participate in this first biennial summit for a sustainable, inclusive and resilient global economy. And as the Secretary General has underlined, it's the first of its kind. And sometimes we rush through these meetings and UN institutions. But. But I would like to take a moment acknowledging that some have fought for years that this could happen among them, especially the Secretary General. So I would like to thank him for bringing this important topic not only on the gender, but fighting for it for a couple of years. Thank you. Dear Mr. Secretary General, we know that it's so important because we all know the figures and we know that all pieces of our multilateral system have to work in sync if we are delivering results, particularly on the 2030 Agenda for Sustainable development. But this is also an opportunity to link it to other initiatives we are working on today. An opportunity to ensure that the UN's own reforms guided by the UN AD initiatives ensures complementarity and cohesion with with the international finance architecture. It's an opportunity to build on the Pact of the Future and the fourth International Conference on Financing for Development. We know that the Pact for the Future, adopted in September last year, was designed to torbit chart the SDGs. It offers clear recommendations on international financial reform, including giving developing countries a greater say within international financial institutions by mobilizing more financing from multilateral development banks and reviewing debt concerns that hinder our hubble access to finance. In June, Member States took this further with a Compromiso de Sevilla which recognized the gaps in financing as symptoms of systematic shortcomings. The outcome of Sevilla recommended concrete steps including tripling the lending capacity of multilateral development banks by 2035, re channeling special drawing rights, expanding and accelerating debt relief and increasing the volume of predictability of concessional finance. Taking together these steps, especially if synchronized within South South Corporation, can empower countries with the tools and resources needed to meaningfully drive sustainable development. Excellencies, this has been a long road and we made already in 2015 a promise, a plan of action for people, planet and prosperity that included leaving no one behind. But promises without action are simply not enough. Ten years later, we know we are failing on this promise. We see this In 700 million people who still live in extreme poverty, 673 million people who experienced hunger last year. And we see that especially in the settled with debt. External debt services have reached nearly 500 billion in 2023. Those are resources that could otherwise have been spent building on infrastructure, hospitals, boosting social support and financing the important climate adaptation. Colleagues, these are not just numbers of budgets. These are numbers about people that are failing through the cracks of the financial architecture that is in dire need of reform. As the Secretary General once said, we can't build a future for our grandchildren with a system built for our grandparents. To put it a bit less diplomatically, the truth is without a deep reform of financial institutions and unless we solve the vicious debt trap, we will never deliver on the SDGs. Therefore, change is needed. But we also know change is not easy. It can be unnerving. But we need to have the right system, the right tools in place to get the jobs done. And we have some incredible actors here, as mentioned before, with strong ladies leading them to reinvigorate the UN reform agenda as well as the systematic changes across the international financial architecture to be game changers. If we are really backing our financial commitments. Now is the time to align our efforts, strengthen global cooperation, unlock resources and deliver effectively and equally on the promises we made. Now is the time to act together, to leave no one behind. I thank you. Center for Global Development · Moderator · Masood Ahmed [16:08]: Thank you. Thank you very much. Madam President of the General Assembly. Let me turn now to the President of ECOSOC, His Excellency, Mr. Lokbahadur Tapa. ECOSOC · ECOSOC President · Lokbahadur Tapa [16:27]: Thank you. Distinguished heads of State and government, Secretary General, President of General Assembly, Principals of multilateral institutions. Excellencies, distinguished delegates, it is my honor as the President of Economic and Social Council to welcome you to this inaugural biannual summit for a sustainable, inclusive and resilient global economy. We meet at a time when the global economy faces mounting headwinds and the multilateral systems is under severe strain. Fragmentation is growing, geopolitical tensions and shifting domestic agendas are reshaping the global landscape. Trade frictions are eroding trust in the multilateral trading systems. Official development assistance is stress thin even as it needs grows up and climate commitments remain far from fulfilled. The world's most vulnerable countries are paying the highest price with the least fiscal space to respond on. Yet we have also seen that when the international community comes together, progress is possible. Just three months ago, Member States adopted the Sevilla Commitment, a renewed global framework for financing for sustainable development. This outcome of the fourth International Conference on Financing for Development, which I had the privilege of co facilitating, sets out decisive steps to catalyze investment to close the 4 trillion SDG financing gap in developing countries to address the data and sustainable development crisis, to reform the international financial architectures and empower every nation. Today's summit, mandated by the fact of the future, builds on that foundation. It is designed to strengthen systemic links between the United nations and international financial institutions. And it calls for reforms that amplify the voice and representation of developing countries in global decision making. Excellencies, ECOSOC edge is central to this effort. The Soviet commitment gave the Council new mandates to convene a special meeting on financial integrity, to launch a recurring dialogue on credit rating and to strengthen the Financing for Development forum through deeper bi annual reviews of systemic it also called on us to exchange on regulatory frameworks, digital financial services and to better integrate private sector engagement into the FFD follow up process. As the UN central coordinating body for the economic, social and environmental dimensions of sustainable development, ECOSOC connects universal membership with international finance institutions, the G20 and other platforms. By promoting coherence across these arenas, we can turn commitments into action and action into impact. As ECOSACA and United nations celebrate their 80th anniversaries, our task is to restore trust in international cooperations. That means easing debt borders, expanding fiscal space and directing investment in sustainable development. It also means ensuring reforms are inclusive, equitable and legitimate, and that diversity and gender representation in global governments is strengthened. Excellencies. As ECOSOC President, I'm committed to ensuring that the ambition set out in Serbia and reaffirmed here today translates into real results for those who need them the most. Let us seize this moment to work together across institutions and across borders to build a fairer, more resilient and more sustainable global economy. I thank you. Center for Global Development · Moderator · Masood Ahmed [21:31]: I thank the President of ecosoc. We now have had three introductory statements and they give you a sense of where we're coming from, a sense of what's left to be done and the gaps is there and the urgency and the imperative of filling those gaps, the impact they will have on people's lives, and also the clear agenda of items that has emerged now from various meetings, including the Sevilla meeting, which gives us a sense of things that need to be done. So now we move to the discussion in this meeting from all of you who have an opportunity to speak, to say, well, how are we going to actually take all of that and turn it into practical, implementable actions that will make a difference? As you said, it's not just a question of meeting for meeting. So, Secretary General, it's how does this have an impact on people's lives? And as the Secretary General said, there are three groups of speakers for today. We have the principals representing multilateral institutions, we have heads of state and government who are currently presiding over multilateral platforms, and we have heads of state and government who represent different country groupings. The design of the next hour and a bit is to intersperse these speakers so that we get some interaction from their different perspective with that. The first speaker that I would like to turn to, if I may, is Madame Kristalina Georgieva, Managing Director of the International Monetary Fund, to get her perspective on, on what the IMF can do. What is your message, Madam Georgueva? To take this agenda forward in the context in which we are. Kristalina, IMF · Managing Director · Kristalina Georgieva [23:41]: thank you very much. It is so good to listen to those who set the tone. And if I may, as one of the grandmothers in this audience, actually we grandmothers, we feel very strong sense of urgency that there has to be change for the sake of our grandchildren. So what is happening in the world? Profound shifts. The global economic system is being reset in multiple ways. Geopolitics looms large over international economic relations. New technologies offer tremendous opportunities, but also risks, including the risks of countries falling further behind. And we are in the context of highly uneven population growth across the world, reshaping global trade. Reshaping investment is also creating exceptionally high uncertainty and that is hanging like a heavy cloud over consumers and investors. We face this world hamstrung in two ways and we heard some about it. First, after years of shock after shock, global public debt is going to reach about 100% of GDP by the end of this decade. And it denies many countries the fiscal space they need to absorb future shocks and to attend to the pressing needs of their populations. Second, to make matters worse, global growth is projected to be lackluster 3% over the next years, materially lower than the historic 3.7% of the decades before COVID And yet, despite these realities, the global economy has proven to be remarkably resilient to these major shocks. And the question is why this resilience? One, we owe it to the sustained efforts countries have made to set up sound policies and very important to build strong institutions. Two, we owe it to the adaptive power of private sector with its capacity to innovate and adjust to change. So in that context, what can countries do for their people? The short answer is get your house in best possible order. In this more fragmented world, you can least afford self inflicted injuries. You have to be determined to set domestic priorities. And we at the IMF top two first, act decisively to put your debt on a sustainable path, flat or downward, and rebuild policy space. That means budget consolidation hard to do. People get easily accustomed to public spending going up and it is very hard to get it down. But down it must go and also raise more revenues. There are still countries where debt to GDP sorry, tax to GDP is below 15% need not be this way. Second, structural reforms that are going to unleash the power of private sector investments. Where regulation is outdated, you don't need it. Take it out where access to finance is constrained, make it easy and think of property rights security, because then people have the confidence to invest. Now, doing all this need not be Countries doing it alone. We need each other and we have the institutions that are there to support you. At the imf, we are determined to continue to play a very constructive role and support financially our members, especially lower income countries. We have 50 programs. 50 of our members benefit from those programs. More than half are low income and fragile state states. And I'm proud to say that we have strengthened our capacity to lend to low income countries by doubling the lending of the poverty reduction and growth trust while restoring a self sustained model. I also am very determined that we would continue to do more on the debt front. We have set together with the World bank, the Global Sovereign Debt Roundtable. It has produced finally a playbook for debt restructuring. Play by the book. Things can get much better faster. And let me say I am totally on the page of institutions. The world is changing. Institutions have to change. And we see this as our moral responsibility. Last year we added a third chair on our board for Sub Saharan Africa to increase the voice of Sub Saharan Africa. And we know we have to do more together. Together, Madam President, together we can do well for our children. Thank you. Center for Global Development · Moderator · Masood Ahmed [30:01]: Thank you very much, Managing Director. So the one key message that I took away from what you just said is that in the time in which we are in the global economy, the number one priority for all countries is to get their own house in order as best they can. But they don't need to do it alone. They have international institutions and cooperation makes that much easier to do. Thank you for reminding us of that. Let me now turn to His Excellency, Mr. Mahmoud Mali Yousef, who is the Chair of the African Union Commission. Your Excellency, I think it would be good to hear how the priorities of the African Union membership now in terms of advancing financing for the 2030 Agenda across the continent. The floor is yours. AU · Chair · Mahmoud Mali Yousef [31:03]: Your Excellencies, Heads of State and Governments, the Secretary General of the United Nations, Madam President of the General assembly, distinguished delegates, Ladies and gentlemen. It's a great honor for me to address this first Biennale Summit for a sustainable, inclusive and resilient global economy. Implementing commitments on financing the SDGs this gathering comes at an official and critical moment. For too long, Africa's voice has had too little influence in shaping global economic governance. Today, this summit provides an inclusive platform where the priorities and needs of African countries can be heard and translated into global action. Excellencies, we must face the gravity of the challenge. Africa's financing needs are immense, growth remains insufficient, debt vulnerabilities are rising and the cost of capital is disproportionately. High. These challenges reinforce each other and risk locking African economies into a cycle of slow development, structural dependency and missed opportunities. This is why the African Union welcomes the growing consensus on the urgent need to scale up development finance and to reform the international financial architecture. The Finance for Development conference held earlier this year in Seville marked an important milestone. It brought forward a shared vision and actions that can drive change if followed by sustainable commitment and and implementation. From the perspective of the African Union, several priorities are clear. First, strengthening African institutions, including deepening our capital markets and advancing the creation of African credit rating agency to address persistent structural biases. Second, ensuring African perspectives are integrated in international tax cooperation, particularly in the fight against illicit financial flows which drain nearly US$88 billion annually from our continent and deprive it of sources of resources that could transform health, education and infrastructure. Third, addressing the issue of debt in a sustainable manner, not only through temporary relief, but also by creating mechanisms that guarantee long term stability and resilience. Excellencies, ladies and gentlemen, the urgency is undeniable. Reform of the global financial system is no longer optional. It is an imperative if we are to meet the promise of the 23rd Agenda for Sustainable Development and the African Union Agenda 2063. The African Union stands ready to work hand in hand with the United nations and all partners represented here to transform consensus into action and action into results that will change the lives of our peoples for the better. I thank you, Center for Global Development · Moderator · Masood Ahmed [34:31]: Thank you. Thank you, your Excellency for laying out the priorities from the perspective of the membership of the African UN Union. Let me now turn to invite His Excellency, Mr. Cyril Ramaphosa, President of the Republic of South Africa and this year's president of the G20. Mr. President, what priorities are you anticipating as South Africa to advance through the G20 process to mobilize resources and deliver on the commitments that have been made to finance sustainable development? Thank you. South Africa · President · Cyril Ramaphosa [35:11]: Thank you, your excellencies and honored delegates and leaders who are present here. It's an honour to address this biennial summit and in fact it is quite a historic moment. This. I think many of us will agree that we gather at a time when the Agenda 2030 is in peril. We gather at a moment when we need to address a number of challenges. And it is estimated that we need from a financing point of view to finance development to close a financing gap of some $4 trillion annually if we are to meet the Sustainable Development Goals. Now, a succession of crises have exposed the fragility of our interconnected economies and also revealed deep inequities in our capacity and our ability to respond to these. While some nations are able to mobilize trillions to shield their citizens, but also to mobilize trillions to wage war and also to address pandemics, others are left constrained by debt and denied the access to global capital. We should use this summit, I believe, to push for the full implementation of of the commitments made across various forums, from the financing for development process to the G20 and to the climate change COP meetings. We must strengthen coordination between the UN and the African Union, the G20, as well as international financial institutions and other global financial actors, and to do so by embedding inclusivity at the heart of the global economic governance. To close the SDG financing gap, we need to undertake what I believe are the following bold measures. Firstly, we need debt relief and restructuring that is faster, but that is also fairer and more comprehensive. And secondly, we need to mobilize affordable, accessible financing from a wide range of sources, from development funding institutions, from private capital entities and so on through. Thirdly, we need to re channel unused special drawing rights to countries that need them. Fourthly, we must scale up concessional finance through the development banks. Lastly, we must reform global tax rules to curb illicit financial flows that continue to proliferate in various countries. Beyond financial instruments, we need confidence that commitments that are made will be honored and that global rules will be shaped by all members and not just a few. It is often quite disheartening when we hear commitments being made and announced at big conferences. And when it finally gets to the practicality of it, particularly for countries that are in need, we find shortcomings and we find reversals. Let us forge a new compact for financing sustainable development that is rooted in solidarity, in equity and mutual accountability. South Africa stands ready to ensure that this summit does become a turning point in our collective effort to build a sustainable, inclusive and resilient global economy. And we're looking forward to that. The G20 participants, when they come to South Africa in November, that the issues of financing for development and the support that needs to be given for countries that are in need of lightening their debt burdens will be addressed proactively, practically, and that the commitments that we make are commitments that we will stand by and execute. If we can do that, the challenges that many countries are facing now will be ameliorated and we will be able to reposition the global economy in a much better way. If we do that as well, we'll be able to say, yes, we are living to the adage of Leaving no one behind and leaving no country behind. Thank you. Center for Global Development · Moderator · Masood Ahmed [41:14]: Thank you. President Ramaphosa. I want to just signal one point that you raised, which is that commitments made at conferences need to be accompanied by the associated action during implementation. And I thank you for raising the issue that commitments are sometimes not followed through when you actually get down to the practical implementation of the consequences of those commitments. Let me now if I may Invite His Excellency Dr. Muhammad Yunus, Chief Advisor of the People's Republic of Bangladesh and Vice Chair of the least developed countries. Dr. Yunus, could you share perhaps what you think these developed countries most need right now and what in this range of things that could be done should the international community be prioritizing in terms of the actions that would have the greatest benefit for that set of countries? Over to you, sir. Bangladesh · LDCs · Chief Advisor; Vice-Chair · Muhammad Yunus [42:31]: Thank you, your Excellency, honorable chair, Madam President of the General assembly, distinguished delegates. Yes, I would like to respond to your question first. My focus will be definitely on the youth, young generation. Bangladesh is just emerging through a uprising of the young people in Bangladesh giving their lives to protest against the misrule, against the corruption, against the actions taken against the interest of the people. And Bangladesh is a very unique country in a sense. Majority of the population are young people. Half the population of Bangladesh is under the age of 26, a total population of 180 million. So this is a unique case, but not something that is different from other countries aspirations and capability of the young people. So I will focus on that. And particularly in this uprising, not only the young boys are fighting on the street, it's the young girls themselves. Came out of their classrooms, came out of their dorms, came out of their houses in an enormous number. So it's not only the boys who are raising their voices, the young girls also. So I think that has to be focused. Whatever we are taking, the rest generation will be very young generation wherever we are. So this is one particular focus I want to make. It's an honor for me to address this august gathering on behalf of the least developed countries. We gather here at a time when conflicts, climate shocks, debt distress and pandemics have derailed our hard earned development gains. The annual SDG financing gap now stands beyond US$4 trillion. The LDC suffered the most as extreme poverty rises with diminishing development assistance, decreasing foreign direct investment and widening digital divide. In many of our countries, the annual GDP growth continues to lag behind this 7 present SDG target. I stand before you with a clear message from over a billion people. We want peace, dignity and Opportunity for sustainable development. And in this context, let me highlight a few key priorities for the LDCs. First, the Doha Program of Action must move from promises to progress. The development partners must fulfill ODA commitment of 2%.2% scale up grants and concessional lending and ensure that financing aligns with national priorities. Second, the debt crisis is a pressing systemic challenge. LDCs urgently need immediate liquidity support, broader debt relief and climate linked state contingent debt instruments. Reforming the global debt framework has become an imperative of our time. Third, to address the far reaching impact of climate change of LDCs, climate finance must be scaled up urgently with simplified access. We urge international community to enhance climate support and ensure effective technology transfer to our countries. Disaster resilience for LDCs must be strengthened and loss and damage fund operationalized. Finally, the global financial architecture must be overhauled to make it equitable, representative and fit for purpose. We call the quota and governance reforms in the Bretton Route institutions expanded representation and meaningful role of LDCs in their policy making. Stronger coordination between the UN and these institutions is essential for inclusive economic governance. Excellencies, many LDCs are entering the graduation pipeline, yet they are highly vulnerable and fiscally constrained. We urge for continued support and coordinated withdrawal measures so that their graduation remains sustainable and irreversible. The gap between promise and delivery is not to be measured in just statistics, but in their lives lost and human potential wasted. International community must match pledges with old actions. Let this summit inspire hope, advance justice and chart a more equitable path for the world's most vulnerable. Before I conclude, I will also add one more thing about what I mentioned about Bangladesh. And it's repeated in Nepal. So young people rising again, the government taken down. So it's not, I mean, extreme phenomenon. I think this is going to be a norm. The young people expressing themselves in a very expressive way, which may not be very conducive in some cases. But before they bust into those kind of expressions, we should be taking consideration of making the life for the young people different than it had been. Young people represent a new future. And this is a very different kind of generation than we ever been gone through in our lives in our history. So my tension that I want to draw. We have to reorient our thinking in terms of the young people. Thank you very much, sir. Center for Global Development · Moderator · Masood Ahmed [48:54]: Thank you. Your Excellency. Our first speaker from the floor, Madam Georgieva Kristalina, raised the issue that as grandmothers she, and I think she was looking at Ngozi next to her when she said it I'm particularly concerned about the future for the grandchildren. And I thank you for bringing that back. To say that maybe the grandchildren are not ready to wait for the rest of us to find a way for their future. Maybe what we are seeing in many countries is them expressing the frustration with the pace of change and with the conditions that they see for their future and a desire to take responsibility and charge for it, sometimes in ways that may actually be quite transformative but also difficult for countries to go through. So I thank you for raising that point. And with that, actually, that's my transition to Ngozi Konjewela, who's the next speaker on our list, the Director General of the World Trade Organization. And I want to turn to you, if I may. You have been very eloquent and very forceful to keep pointing out that the engine for growth and prosperity has to rely heavily on trade, continuing to be a big part of part of that story and at a time when there are many barriers on trade and a rethinking of the role of organized and orderly trade. And I want to get a little bit your perspective, if I may, on how do you see that tension getting addressed and what role can trade now play in advancing progress towards this agenda? WTO · Director-General · Ngozi Konjewela [50:52]: Thank you. Thank you very much. Madrid Masoud and Excellencies, ladies and gentlemen. I think this is Grandmother's morning, so thank you for giving me the floor. I just want to thank the Secretary General and the PGA President for bringing us together at this critical juncture for the development goals that that we share. The multilateral trading system is experiencing serious disruptions not seen in its 80 year history. Escalating trade tensions pose a risk to environmental sustainability, socioeconomic inclusion and resilience to shocks. A stalling trade engine is not just bad for growth and job creation, it is bad for finances. It worsens sovereign debt pressures and diminishes export revenues. All at a time when overseas aid flows are declining. But there is some positive news on the aid front, on the trade front. Sorry. Sometimes I'm tired of the doom and gloom and pessimism. So we have to share some of the positives. While US tariff actions have had a major impact creating an unstable and uncertain equilibrium in global trade, the core of the trading system remains stable even after the August tariffs. About 72% of global goods trade continues to operate on WTO Most Favored Nation tariff terms. So there is resilience and stability in the trading system. And this is because WTO members have continued to trade among themselves, themselves on basically the normal terms. Whilst to Their credit also refraining from tit for tat escalation with the U.S. now this may change a little bit more, but what we are finding is this remarkable resilience in the system. In short, the WTO system's resilience benefits will benefit countries growth and revenue raising capacity. Other positives include services trade which remains relatively robust. I just want to note that trade in digitally delivered services, everything that is done through electronic transmissions and Internet grew 10% last year to reach almost $5 trillion in value. South south trade continues to grow. It now accounts for about a quarter of global goods trade, up from less than a 10, 30 years ago. In addition, the initial signs that value chains are starting to draw in new suppliers and new geographies over time this could contribute to economic resilience. Importantly could also help mitigate today's frictions regarding overdependence. I've always said that the trading system was created for interdependence and not overdependence. And what we see now is sometimes overdependence on the US for markets and over dependence on China for critical supplies. We are encouraging our members to diversify trade and try to develop trading relationships with others. And we do welcome all the free trade agreements, all the regional trade agreements being entered into now. We see them as complementary to the multilateral, to the WTO system. They are not a competition because they are all built on the WTO platform. Now looking to 2030 and beyond. As I said in Sevilla, we cannot finance the future without trade. Let me suggest three steps in this regard. First, the rest of the world, as I just said, needs to trade more with each other. It's important to continue to encourage south south trade with aid in decline. It's also important more than ever that developing countries, particularly in Africa, also try to trade more with each other. Intra continental trade in Africa is critically important to develop now to encourage all of this diversification of trade. We also need to strengthen and expand the core of the trading system. Saying that 72% of world trade takes place on WTO terms is not complacency. The trading system needs deep reform and I think we must seize this opportunity. What we are saying to our members is we need to reform this. Some of the criticisms being leveled by the United States, by other members, developing countries who feel the system is not doing enough for them are valid. Let us use this opportunity to reform. And in this regard I'm very pleased to share with you good news from yesterday. An announcement at a meeting with China, where I was with Premier Li Cheng, where they said they will no longer ask for access to the preferences that you get at the WTO if you're a developing country. Because this has been a bone of contention given that China is one of the two largest economies in the world. This is big news. For years there's been argument about this at the wto and I think it opens the door and shows the willingness to really reform Now. Second, we need to help poor countries attract investment to spot trade and diversification. Let me just share with you that at the WTO we have a plurilateral instrument that we are negotiating, the Investment Facilitation for Development Instrument to help de risk investment. So in this environment, we are looking for how to generate more resources in order to invite investment. As the African Union Commission Chair said, we have this instrument, 127 members negotiating it, 31, 90 of them developing countries. And I would like us to really work on it and get it through. I hope by March next year we'll be through. Kristalina mentioned all the obstacles in the way of investment. This instrument is going to help us de risk investment in these countries. Finally, we should deploy scarce resources more effectively. We just delivered the WTO's the Fisheries Subsidies Agreement. For 22 years at the WTO, we've been trying to deliver SDG 14.6 that was assigned to us to remove the 22 billion in harmful fishery subsidies that lead to illegal, unreported and unregulated fishing of our high seas. We did it last week and I'm very happy to. It means there's $22 billion in harmful subsidies that could actually be repurposed for different types of financing to help with the SDGs. I hope countries will look at this because there's also 2 trillion in other harmful subsidies. I know repurposing subsidies is politically very difficult, but at least a portion of this could help. Thank you. Center for Global Development · Moderator · Masood Ahmed [57:52]: Thank you. Thank you for that bit of good news as well on that front. Let me just say, colleagues, that I've been reminded that we are running behind. And so I would encourage your cooperation for the remaining speakers to see if we can try and catch up. And with that, let me turn To His Excellency, Mr. Mark Carney, Prime Minister of Canada, currently holding the presidency of the G7. Prime Minister, I think the same question a bit that I posed to President Ramaphosa in your case. How do you see the G7 advancing this agenda? Canada · Prime Minister · Mark Carney [58:28]: Thank you. Thank you very much, Mr. Chair. I'm going to start with something. The Secretary General said yesterday which is that multipolarity without multilateralism can lead to chaos. It certainly cannot achieve the Sustainable Development Goals. And I'm very encouraged by the spirit of the interventions and the spirit of this initiative. Secretary General and dear Amina to bring back multilateralism to these financing issues. Canada is committing itself to work in partnership to bridge the existing gaps. And we welcome the leadership and the vision expressed by the Secretary General and the leaders of the international financial institutions that we have heard today of international finance in scaling up private finance for emerging and developing economies is what I want to touch on today. And that's something we focused on at the G7. But really it's been the work of this table and more broadly I want to salute the leadership of the World bank, the imf, the regional development banks in moving this forward. And there was an element of that at the G7. But the way I'm going to organize my thoughts three points, four points actually around building that system financial system for our grandkids. Again drawing on the intervention of the Managing Director and the Secretary General earlier. First thing we need is to recognize that we need to use scarce dollars to the maximum effect. This isn't just about bigger volumes. It's about using scarce public dollars to maximum effect and that is catalyzing financial instruments using risk mitigation tools to better allocate risk between the public and private sector. I will just refer for speed to the agenda of the private sector investment lab and what the World bank has been doing on risk management. The second point is crowding in institutional capital through originate to distribute models. There's a lot of words there. What it basically means is recycling the balance sheets of our international financial institutions so they are there catalyzing the new lending. Once it matures, it's parked off to other holders that can hold it for the long term. And it's all about action, new action at the MDBs. The third point is strengthening the structures, processes, governance of the institutions. To put it into plain words, the shareholders should be looking at key performance indicators that are directly tied of course to the Sustainable development Development goals but also absolute volumes of capital that are moving. And in some cases it's not about lending, it's actually about technical assistance. It's making capital flow possible. So all of those activities that catalyze in flows towards the SDGs. I will reference the work that has been done and needs to be completed on a cross border carbon market we which could close one third of the climate finance gap between now and 2035. And I will also just associate myself with the right. The framework that President Ramaphosa did outline for the G20, which is more comprehensive than what I've just said. Last point I'll make is that at the G7 there were a few instruments that were launched that build on some of the general points that I just made. Billions of dollars in new financing through the IADB and the Caribbean Development bank, and a structure where a number of countries came together called scale, which is scaling capital for sustainable development. The point of this, it's measured in billions. But really the point is it's a template. It's a template for putting in place those general points that I made. It has, as its name suggests, an ability to scale. And if I may close on this chair, there is an enormous gap, we know that. But the gap in terms of financial technology and the solutions has closed. The question is whether we're going to deploy them and scale. Thank you very much. Center for Global Development · Moderator · Masood Ahmed [1:02:44]: Thank you, Prime Minister. Let me now turn to His Excellency, Mr. Luis Arce Katakora, President of the Puri National State of Bolivia and also Chair of the Landlocked Developing Countries. And again, your excellency, it would be useful to have your perspective on the unique challenges faced by the landlocked developing countries. Thank you. Bolivia (Plurinational State of) · LLDCs · President; Chair LLDCs · Luis Arce Katakora [1:03:11]: Thank you very much. President, distinguished delegates. Bolivia is proud to have this opportunity to speak before this assembly not only as a sovereign member state, but also as chair of the Landlocked Developing Countries group for the 2025-2026 biennium, honoured to represent the 32 countries the that make up more than 560 million people across the world. We share unique challenges due to our geography, but we also share an unshakable determination to overcome these obstacles and turn them into opportunities for sustainable and inclusive development. Last month in Awaza, Turkmenistan, we had a successful conference, the third UN Conference on Landlocked Developing Countries, where the international community adopted the AWAASA Program of Action, laying out an ambitious roadmap for landlocked developing countries for the decade to come. The AWAZA Programme of Action is much more than just a raft of international commitments. What it is, is, is a comprehensive roadmap for landlocked developing countries towards achieving sustainable development. And it's an undeniable reality that if we exclude landlocked developing countries from processes to build a sustainable and inclusive and resilient global economy, we will never be able to achieve sustainable development for all countries and peoples in the world. We can state certainly that the AWASA Program of Action has a strategic approach to build a sustainable and inclusive and resilient global economy. Sustainable development for landlocked developing countries is a shared responsibility, the shared responsibility of the international community. The transit corridors are an important tool for not only physical integration, but also economic and social integration, and we need to prioritize the planning of these, including landlocked developing countries, when designing these. Bolivia, as the chair of the LLDC Group, will promote a UN resolution on transit corridors as something that can boost inclusive and equitable sustainable development. The effort to make sure that geography does not determine the destiny of our countries requires institutional mechanisms devoted to translating commitments into concrete results. When a country does not have direct access to the sea, when they must depend on transit countries for their international trade, when they face additional costs that are significant cost participating in the global economy, the international community must respond with specific and sustained support. To date, we have made significant achievements as the landlocked Developing Countries Group. For example, I wish to underscore the approval by consensus of the International Day for Awareness as to the special needs and challenges of landlocked developing countries, which makes us visible to the world. The establishment of our own negotiating group in the process for the UN Framework Convention on Climate Change strengthens our voice in climate negotiations. The launching of the global network of businesses of LLDCs connecting the private sector with development opportunities in our countries. These achievements did not just come to be spontaneously. They were actually the direct result of effective coordination between the 32 LLDCs working in a cohesive manner with our development partners and with the international community writ large. I also wish to underscore the fundamental role of technical support over more than two decades from the Office of the High Representative for the Least Developed Countries and the landlocked developing countries and Small island developing States, which is our institutional home within the United nations system, providing specialized coordination and technical support that our unique challenges require. What's more, Bolivia recognizes and highly values the commitment of the United Nations Secretary General, Mr. Antonio Guterres, who has reaffirmed that budgetary reductions in the UN 80 reform program have been carefully calibrated in order to protect the core program areas that directly affect member states, in particular the LDCs and the LLDCs, as well as the SIDS. When landlocked countries prosper, they contribute to global economic growth, to regional stability and to sustainable development. Landlocked developing countries are not calling for charity or special treatment. All we're asking for is fair treatment. We want to be treated fairly. We're not looking for privileges. We're looking for equal opportunities in order to develop and fulfil our potential. The Awaza program of action has provided us a clear and strategic roadmap. We have the political will from our governments and we're counting on the support of the UN system. Now we require the sustained support of all of the member states of the United nations in order to make sure that this decade is a truly transformational one for the more than 560 million people who live in in landlocked countries. Together, we can make sure that being landlocked doesn't mean being left behind for a more prosperous, inclusive and resilient future. Thank you very much. Center for Global Development · Moderator · Masood Ahmed [1:09:59]: Thank you very much. President Arsenal. Let me now turn To His Excellency, Mr. Antonio Costa, President of the European Council and your Excellency. It would be very useful to hear how the European Union intends to lead financing for development agenda this year. Where do you particularly want to prioritize? EU · President of the European Council · Antonio Costa [1:10:21]: Thank you. Thank you, Mr. President. Secretary General. Deputy Secretary General. President of Ecuador Excellencies. Two out of five families live in countries where more money is spent on debt service than on national health and education services combined. We do not have finance problem, but an allocation problem. Year on year, 4 trillion are missing in our efforts to implement the Sustainable Development Goals. To overcome this financing gap, we need to reform the international financial institutions, making them more inclusive, efficient and representative. Where more solutions can be raised by more countries around the table. We need to mobilise funding from all sources, not only public. We must involve the private sector more sustainable systematically. And we need to increase the lending capacity of multilateral development banks and improve the debt relief processes. The Seville commitment was a breakthrough. Now we need to focus on its implementation to benefit all countries, all citizens and business. The European Union is doing its part. The European Union, together with its member states, accounts for 42% of global development aid. We are also the world's leading development and climate finance provider. Through the European Union's efforts, via the Global Gateway, we are combining development assistance and sustainable investments in projects that have an economic value. And we are well on track to reach our commitment to mobilize 300 billion euros in investments by 2027 for connectivity projects to make the social, digital and green transitions a reality across the globe. These are not just essential goals to improve life quality, but they also contribute to global prosperity. A fair and shared prosperity for all. And there is a lot of work ahead of us. It requires staying the course and honoring our commitment of implementing the Sustainable Development Goals. This first ever biennial summit is a unique opportunity to come together and advance of these issues. Thank you very much. Center for Global Development · Moderator · Masood Ahmed [1:13:38]: Mr. Secretary General took this initiative. Thank you very much. Palau · AOSIS · President · Surangal S. Whipps Jr. [1:13:48]: Thank you, your Excellency. Let me now turn to His Excellency, Mr. Surangal S. Whipps Jr. President of the Republic of Palau and Chair of the Small Island Developing states. And again, Mr. President, if you could give us perspective of priorities from the Small island developing states. Mr. Secretary General, Excellencies, ladies and gentlemen. I have the honor to address you on behalf of the alliance of Small Island States. And I want to thank the Secretary General for convening us at this pivotal moment and for his consistent commitment to to advancing financing for development. When we met as an international community in Seville just months ago, in the very city which bold voyages once set sail, the world pledged to embark on a new journey, one of justice, equity and solidarity. This summit is not just another meeting of our crowded calendar. It is a litmus test of our collective will to turn promises into practice and commitments into tangible action. The Pact for the Future gave us a vision. The Seville commitment gave us a direction. And this summit must give us momentum. For sids, the stakes could not be higher. Our economies are small, our vulnerabilities are acute and our fiscal space is painfully narrow. We are disproportionately burdened by debt and external shocks we did not create and are boxed in by rules we did not write. That is why the Antigua Barbuda agenda for SIDS provides our blueprint for resilient prosperity. But a blueprint cannot stand without a global financial system that serves all. That is why the Seville commitment matters. For the first time, the world recognize with clarity what SIDS have long said, that the international financial system cannot be fair if it measures only income and ignores vulnerability. We welcome the decision to advance progress on the Multidimensional Vulnerability Index. And we urge all partners to support its full and immediate integration across the international system. This must be matched with progress on fairer developmental oriented international debt architecture, including the initiation of a universally inclusive intergovernmental process on sovereign debt. For sids, meaningful debt relief, innovative instruments and predictable concessional finance are essential lifelines. Excellencies. Multilateralism is our only shield against further fragmentation and it is our only hope for a sustainable future. But too often, SIDS voices and needs are sidelined. Despite meeting global financial standards, many of our members face blacklisting under compliance regimes. Banks are withdrawing and correspondent relationships are vanishing. Unilateral economic coercive measures restrict trade and investment. And all of this further entrench the vulnerabilities that sids are striving to overcome. Small island developing states demand a seat not as bystanders, but as equal partners and architects of the very system that governs our future. If we cannot deliver on the commitments made in Seville, if we cannot reform the international financial institutions to serve all nations, and if we cannot give the vulnerable, the smallest and the smallest among us, a voice where decisions are made, then the promise of multilateralism itself will ring hollow. As we mark the 80th anniversary of the United nations, let us remember its founding pledge to lift all nations, large and small, on the tide of peace and prosperity. Let this gathering be remembered as a turning point when we matched ambition with action and restored trust in the promise of multilateralism. AOSS stands ready to work with all partners to ensure that the reform of the international financial architecture is not delayed, diluted or deferred, but delivered. Our people cannot live on promises. They must live on progress. Soo Lang thank you. Center for Global Development · Moderator · Masood Ahmed [1:19:42]: Thank you. Thank you. Your Excellency. Let me now turn to His Excellency, Mr. Abdelatif Rashid, President of the Republic of Iraq, the country that chairs the group of 77. Iraq · G77 + China · President · Abdelatif Rashid [1:20:01]: Mr. Secretary General. Your Excellencies, Ladies and gentlemen. I have the honor to deliver this statement on behalf of the group 77 and China. The group welcomes the convening of the first biennial summit for Sustainable, inclusive and resilient Global Economy. This summit is timely platform that we hope will contribute to the global democratization, global economic governance and to enhance the implementations of commitment on financing for development. Particularly following the fourth International Conference on Financing for Development. The Group underscores that today's global economic governance remains shaped by a few actors, while developing countries bear the greatest burden on the debt, distress, capital flight and declining aid flows. Strengthening the voice and participation of developing countries in decision making is not only a matter of equality, but also legitimacy and effectiveness in addressing the global challenges. We emphasize the urgency of closing the growing SDG financing gap now exceeding 4 trillion annually through bold action, full implementation of past commitments and strength. Multilateral cooperation. The biennial summit must galvanize collective resolve to ensure resources are mobilized and directed towards sustainable development, leaving no country behind. The Group further calls for IMF to strengthen the global financial safety net to enable developing countries to release the massive resources tied up in self insurance so that they can be invested in sustainable development. We urge multilateral development banks, institutions that we commonly own foster development to show much greater ambition in using their lending headroom to scale up affordable finance for developing countries so that we can meet the sustainable development Emergency ahead on the Group also reiterate its rejection and unilateral coerce measures which undermine the ability of developing countries to achieve sustainable development and exacerbate existing vulnerabilities. Finally, the Group calls for deeper collaboration between multilateral institutions and all states in spirit of solidarity and inclusiveness to deliver on 2030 agenda and to build fairer and more resilient international finance Financial architecture and I thank you. Center for Global Development · Moderator · Masood Ahmed [1:24:03]: Thank you. Thank you, Mr. President. Let me now turn to our final speaker before I turn the floor back to the Secretary General for concluding remarks. And that's Mr. Axel Van Troxenberg, Senior Managing Director of the World Bank Group to give us perspective on how the bank now can help advance this agenda. Axel, good morning World Bank Group · Senior Managing Director · Axel Van Trotsenberg [1:24:28]: and thank you Mr. Secretary General for convening us and also putting a little bit of spotlight if not the pressure on us to to do better. And we have to do vastly better given the enormous gap financing gap to finance the SDGs. So on financing and particularly on the MDB financing I would say there are a couple of points to be considered. First is in the concessional windows and I think we have been successful actually to mobilize for IDA resources. But we have to keep in the concessional fund is not indefinitely that we can leverage because we will need. We are burning that. So we have right now the option to have the one to four leveraging and that is good and we need to exploit that. I would say this is for the low income countries. If you look at climate financing and we talk about band financing we don't find for middle income a lot of financing. So one of the things we need to look as a system that one should use the volumes of MDBs combine that maybe with the financial intermediary funds to help for example buy down interest of that so that actually middle income countries could potentially use more of this type of blended finance. Secondly, the need to do balance sheet optimization particularly in the non concessional windows like ibrd. And we have been doing and we have been identifying about 100 billion. I think we need to keep in. When Mark Carney talks about the scarcity of resources then you need to look at the leveraging effect of MDBs. And the leveraging is fantastic. So that is actually where you could get a lot more of it. And I think we need to look more at how we could do that. Then the third part is the topic on the private sector engagement. And here we have two arms the IFC and the MIGA where we have increased enormously also our lending possibilities. I Think this was partly also due to the private sector investment lab. Mark Carney chaired that and some of the ideas exposed. But they are being translated into practice. Take for example the guarantees or the original to distribute. It's difficult, but we started that now with this. I think more needs to be done and I think that is an area where we can create. What's the bottom line is this has allowed the bank group to get to about $120 billion in own account commitments and then a 65 billion immobilization. I think one needs to look what you can do more. Then of course we go into capital markets to issue bonds to the soon close to 80 billion. So this engagement is going to be important because the fiscal numbers are not adding up. So that is why we need to focus this. One of the things what you're hearing is there are a lot of young people going to the market. We have been saying in the next 10 years about 1.2 billion people are coming into the labor market. Maybe only 400 million jobs will find. That means what we need to do is. Is to say what are the type of policies and financing is available also from the MDBs to do more. That means interventions on infrastructure that can be education could be also basic infrastructure. Secondly, particularly policy and regulatory there we need to do a lot more. And finally at scale and I think the example what we have been trying to do in Africa with the M300 to try to have, for example electricity access to 300 million. That is one of the things where coordination matter and where a joint action private sector, public sector, be it from the national level, be it from the international level, be it from the multilateral level. Need to work on that with a sharp focus on target and then delivery. And I think that is going to be important when we are talking here also at Digital at unga we will need electricity if these people have not. So we have there and enabling investments as well. We cannot forget that finally on debt. Debt is and I think Kristalina has already quite a bit on this. But we need to keep in mind the debt problem is more complicated these days. It is no longer only an external debt problem. It's the public debt, particularly domestic public debt in many countries is now the larger part. And to solve that it's difficult. I think we are engaged be it to the new debt sustainability analysis, but also to the analysis. And here I want to say we need more debt transparency. There are still many, many countries that are not reporting to get a good assessment. We will need full transparency and to work on it. I think thanks to the Sevilla Compromiso and particularly the Spanish initiative, we have now a global knowledge hub for the debt, for development swaps. I think that are the kinds of things we have to work on this, but we need to stay on it. I think the IMF and the bank have been very clear that it has to be faster and that we have suggested in it finally what we need despite all the restructurings. We need to ensure that there are positive net flows to these countries and particularly the low income countries. We need to ensure that that will happen. I think certainly IDA is good at it, where we get actually to 15, 70 billion per year, but we need all to do more. Thank you. Center for Global Development · Moderator · Masood Ahmed [1:30:10]: Thank you very much, Axel, for those comments. So we come to the end of this first session, the opening session. Before turning it to back to the Secretary General, I'd invite everyone to take a moment to look at the screen and the illustration capturing the key points and insights from this morning's discussion. And I hope that that is now on the screen. I think you probably need to take that away and read it at your leisure because take a picture of it and save it for later. Let me now come back to you, Secretary General, if I may. You've heard all these perspectives. Any final thoughts before we move to the next session? UN Secretariat · SG · Antonio Guterres [1:31:07]: Thank you very much. I must say this meeting is for me a dream come true. The first time I made a similar proposal was 25 years ago. And I'm extremely happy to thank all of you for your participation and for the very rich debate that we had. Four notes. First, the economic geography is changing. We have the rich, the big emerging economies and the others. The share of the rich in the global economy is slowly diminishing. The share of the global emerging economies is increasing and many of the others are being left behind. That is why it's so important to reform of the international financial architecture. First of all, a question of power. Power relations need to reflect the new geography. And second, instruments that are needed for those that are too small or too vulnerable to be able to to move ahead. Second point, public resources are scarce, extremely scarce in relation to the needs. And so we need two things. First, we need to multiply them. And there are ways to multiply them. If you put $1 in a project is $1. If you put $1 in the capital of an bank is 5, 6, 7 or $8. The same applies to the recycling of STRs and to another series of mechanisms in which we can multiply the public funding. But Second, we need the private sector. And as we need the private sector, international and national financial institutions need to do more and more leveraging of private investment and private finance. And obviously, it's much more fun to make a loan than to give a guarantee. But if you use the appropriate instruments, you can mobilize a much bigger volume of resources, bringing massively the private sector into our exercise. Third, note, the system is unfair. I mean, if you take the financial institutions as a whole, private and public, the credit rating agencies and the rules of the game, there is a huge bias, a bias against the interests of the developing countries. The cost of capital, the difference in the cost of capital are a good reflex of that bias. And so it's absolutely essential to work in order to make the necessary reforms for the cost of capital to become much more reasonable for developing countries. Let's be clear, there are very few defaults, which means that the risks that are sometimes put on the table are much smaller than many pretend. And on the other hand, the central question of debt relief and the new debt architecture and finally, the question of governance. We all need a better governance. Starting by the un, we are making a number of reforms with that purpose, but it's essential for developing countries to mobilize more internal resources and it's essential to create adequate frameworks in order to attract more private investment and also in order to be able to use that private investment for an increase of the national wealth instead of serving as simple targets for exploitation. Having said all these, I believe that there is a lot of energy today in the international community in order to understand the challenges that we face and in order to introduce the necessary reforms and measures that are indispensable. But to make the Sustainable Development Goals something that we can achieve and to find ways to create climate justice and to address the sustain the. And to address the Agenda 2030 to be the reality we all want to see. Thank you very much. Center for Global Development · Moderator · Masood Ahmed [1:35:28]: Thank you. Thank you very much, Secretary General. And thank you also for convening us for this session. So, Excellencies, colleagues, this morning marks the conclusion of the opening session of the first biennial Summit. We will now take a few moments to rearrange the podium for the next segment. I thank you for your attention. Speaker 32 [1:36:04]: It. Sam. It. It's. It's. It's. It. It's. It's. ECOSOC · Chair [1:44:31]: I call to other session one of the first biennial Summit for a Sustainable, inclusive and resilient Global Economy, implementing commitments on financing the SDGs as indicated in the program. In this session we will have the opportunity to hear from heads of State and government ministers and other high level representatives of the international financial institutions and multilateral organizations regarding implementation of the commitments on financing the SDGs. The summit is envisaged as a platform to take stock of commitments made on financing the SDGs, elevate the agenda to the highest political level and strengthen collaboration among multilateral institutions and Member states, building on the outcomes of the recent Fourth International Conference on Financing for Development and the unity shown in Sevilla. Before moving on to the list of speakers, I would like to remind delegations that in order to allow all those inscribed to the list of speakers to speak, the duration of statements is strictly limited to no more than three minutes for member states and no more than two minutes for IFIs and multilateral organizations. A timer will be used to ensure the that speakers adhere to their allotted time. Kindly note that the microphone will be cut off if the speaker exceeds the time limit. The list of speakers will proceed without a break until 5:45pm after which there will be the closing session. Without further ado, I now give the floor to his to Her Excellency President of Namibia, Madam Netumbo Nandim Daitwa. You have the floor. Namibia · President · Netumbo Nandi-Ndaitwah [1:46:39]: Thank you, Chairperson. Namibia participated in the fourth International Conference on Financing for Development in Sevillier earlier this year, which culminated in the adoption of the Sevillier Commitment. That framework rightly underscores the urgent need to reform the international financial system so it might save all nations more equitably, including addressing the 4 trillion SDG financial financing gaps, supporting debt distressed countries and fostering more transparent and inclusive multilateral cooperation. This summit offers an opportunity to take stock of those commitments and to charter practical ways of implementation. Namibia wishes to express three key points. 1. The importance of debt sustainability. Many developing countries, Namibia included, are confronted with mounting physical pressures that risk reversing hard won development gains. Platforms such as the Boroughs Forum are therefore critical in ensuring coordination and collective solution. 2. International solidarity remains indispensable. We note with consent the draw and decline in contribution by the largest donors, including the United States, which has already had ripple effects on UN operation and programs. While we recognize past contribution, we join the call by the President of the General assembly for all Member States to honor their financial obligation in full and on time. Namibia, for its part, has Already settled it is 2025 assessed contribution in February this year. Thirdly, we must ensure that the fiscal challenges faced by the United nations does not translate into diminished support for vulnerable population. We are particularly concerned about the potential restructuring of UNICEF presence in Southern Africa. Namibia stands ready to Engage constructively with UNICEF to safeguard program deliveries for our children who represent both our present and our future. Your Excellencies, we gather here under the different global circumstances, yet the spirit of multiralism remains our strongest asset. Let us remain steadfast in in implementing the commitments we have made and in building a global financial system that is fair, inclusive and supportive of sustainable development for all. I thank you. ECOSOC · Chair [1:49:44]: I thank the President of Namibia. I now give the floor to His Excellency, Mr. Ismail Oman Kele, President of Djibouti. You have the floor, Mr. President. Djibouti · President · Ismail Omar Guelleh [1:50:08]: President of the General Assembly. Secretary General. Excellencies. Ladies and gentlemen. Our world is changing, but our global financial system remains fixed in a system which is long gone. It was born in Bretton Woods 80 years ago in a world where the Global south was neither represented nor heard. Even today, while the Global south represents over 85% of the world world's population, its voice remains marginalized. And the numbers here are very clear and alarming at the same time. The annual deficit to achieve the Sustainable development goals exceeds $4.2 trillion. And the cost of capital in developing countries can be three to four times higher than in the countries of the North. This is a systemic injustice. This is a divide that undermines our shared ambitions and goals. Measure 48 of the pact for the Future must not be reduced to just a statement of intent. It came out of intense negotiations amongst member states in which Djibouti participated actively. And it marks a historic turning point. The collective will to reform the international financial architecture. Djibouti has fully committed itself to this process, strongly advocating for giving developing countries a real strong and influential voice in global decision making. This measure is a foundation upon which we can build a much broader ambition. Failing to uphold its basic terms would be a moral and political failure which we cannot accept. And that is why we in Djibouti call vigorously for the full implementation of Measure 48 and of the entire Pact for the Future, which was developed with scrupulous respect for the voices and concerns of all Member States. The time for half measures is over. It is time to turn our commitments into concrete actions. Djibouti, therefore calls for a bold reform of global economic governance. It calls for a faster and fairer debt restructuring mechanism. It calls for enhanced access to special drawing rights. ECOSOC · Chair [1:53:13]: I thank the President of Djibouti. I now give the floor to Mr. Carlo Monticelli, the Governor from Council of Europe Development Bank. You have the floor. Council of Europe Development Bank · Governor · Carlo Monticelli [1:53:29]: Excellent. Colleagues and friends. I'm delighted to address the first biennial summit as a governor of the Council of euro development bank DCEB and as the 2025 chair of the Heads of Multilateral Development Banks Group. In this forum and MDBs exchange knowledge and proactively coordinate joint actions. Today's Summit following the FFD4 in Sevilla provides vital space to align international financial efforts around our share Sustainable Development MDBs are long standing partners of their members to achieve SDGs. With this unwavering objective in mind, we the MDBs have continued to pursue reforms that better serve our members, outlining our key deliverables in a joint document, the Viewpoint Note which was published in April 2024. Among our joint achievement, I would like to highlight the implementation of the measures agreed in the Capital at Equacy Framework Review which help deploy MDB capital more efficiently while maintaining solid balance sheets. Since 2024, these efforts have freed up nearly US$300 billion increasing our bank's potential lending capacity over the next decade by around 700 billion. In the MDB group, the CEP as the Europe Social development bank puts SDGs at the heart of our mission with a particular attention to reducing inequality and ensuring universal access to health care, education and housing. The CEP's people centered approach focuses on serving the most vulnerable and and promoting social inclusion. As we look ahead, the SEP and all the other MDBs will maintain a steadfast commitment to building an inclusive and resilient global economy that benefits all. To this purpose we are still engaging in finding new initiatives that that render our joint efforts more effective. And another action that I would like to quote is the signing of Mutual Reliance Agreement where each bank recognize its other standards making our co financing operation more effective and efficient and easier for the borrower. Thank you. ECOSOC · Chair [1:56:28]: I thank Governor Monticelli. I give the floor to His Excellency Mr. Toa Toatu, Vice President of Kiribati. You have the floor. Kiribati · Vice President · Toa Toatu [1:56:51]: Thank you. The Excellencies, distinguished delegates, Kirbas is honored to join this first biennial summit for a sustainable, inclusive and resilient global economy. We commend the Secretary General for his leadership in convening this important dialogue which comes at a time when translating commitment into conquered action to financing for development is more urgent than ever. These summits provide a timely opportunity to take stock of the commitments related to financing the Sustainable Development Goals made across various forums, particularly those arising from the 4th International Conference on Financing Development and to ensure that this commitment translates into timely, predictable and and concession of resources that effectively meet the needs of all, especially the developing countries. We have gathered numerous times to review Progress on the SDGs but have we done enough to translate our commitment into tangible initiatives? Or are we still repeating deliberations on similar matters without decisive action? For Kiribati, our priorities are clear. We require financing mechanisms that go beyond conventional norms. Mechanisms that recognize our unique vulnerabilities, including through tools such as the Multidimensional Vulnerability Index. Greater investment is needed in resilient infrastructure and sustainable ocean economies. Strengthened support for capacity building is also essential to give our institutions to implement solutions effectively for small island developing state and at least develop the countryside. Kiribati financing that is accessible and responsive is a critical enemy of progress. We welcome elevation, the elevation of the financing for development agenda to the highest political level. Inclusive participation in our four member states is crucial so that decisions shaping the global economy reflect equity, fairness and the perspectives of the most vulnerable countries. Kiribati underscores the importance of enhanced cooperation among the United nations, international financial institutions and other multilateral partners. Fragmented approach only exacerbates challenges for developing countries. Coherence, complementarity and solidarity within the multilateral system are important to revise the 2030 Agenda and address pressing global economic challenges. This summit must be a turning point. It must move us from cycle of commitment to a new cycle of delivery, accountability and trust. Cuba stands ready to work with all partners to build a global economy that is not only sustainable, but also conducive and resilient and one that really truly leaves no one and no country behind. ECOSOC · Chair [1:59:43]: Thank you. I thank the Vice President of Kiribati. I now give the floor to His Excellency. Excellency Ms. Jessica Alupo, Vice President of Uganda. You have the floor. Uganda · Vice President · Jessica Alupo [2:00:06]: Mr. Chair. Your Excellencies. I commend the Secretary General for organizing this first biennial summit of implementing financing commitments for development. Uganda aligns with the statement delivered by the distinguished President of the Republic of Iraq on behalf of the G77 plus China. Uganda calls for inclusive and transparent reform of the governance of international financial institutions including the IMF and World bank to ensure that developing countries have a meaningful voice and representation. This includes reforming the global financial safety net, improving access to special drawing rights and revisiting global financial relations regulations that increase the cost of capital for Global South. In addition, bridging financing gap requires fulfillment of oda commitments of 0.7% of GNI by the developed countries in accordance with their long standing obligations. There is also need for scale up and better align south south cooperation which should complement and not replace North South's financial flows. Efforts must be intensified to support debt sustainability through fair Timely and development oriented debt restructuring mechanism while addressing the challenges posed by illicit financial flows. Excellencies Strengthening international tax cooperation within a truly inclusive framework is essential to ensure that developing countries can mobilize domestic resources effectively and equitably. We call for the constructive engagement in the Intergovernmental Negotiation Committee on the UN Framework Convention on International Tax Cooperation. We urge the international community to fully support the implementation of all earlier intergovernmentally agreed commitments, which includes the full implementation of concrete actions contained in the Sevilla commitment and the 2015 Addis Ababa Action Agenda, the 208 Doha Declaration and the 202 monetary consensus that developing countries will have the required fiscal policy and space to accelerate their efforts towards the realization of sustainable development. Let us use this biennial summit to renew our shared commitment to multilateralism, international cooperation and international solidarity which are fundamental to in achieving the Sustainable development goals by 2030. Let us translate promises into action. ECOSOC · Chair [2:03:07]: I thank the Vice President of Uganda. I now give the floor to His Excellency Mr. Abdullah Lalimi Bawazir, Vice President of the Presidential Leadership Council. You have the floor. Yemen · Vice President of the Presidential Leadership Council · Abdullah Lalimi Bawazir [2:03:23]: Thank you, Excellencies. President, Ladies and gentlemen, at the outset I would like to thank you for this initiative to hold the first biennial summit for sustainable, inclusive and resilient global economy. My country, Yemen is one of the countries that embodies these challenges. A country that was ravaged by a war imposed by a terrorist militia backed by a rogue foreign state. They tore apart the state, they destroyed its economy and infrastructure. They took its natural resources and maritime passages hostage for blackmail threat and as instruments of war. Despite these difficult exceptional challenges, the government was able to implement a financial economic reform program supported by the international community. This resulted in a relative stabilization of our national currency as part of a plan for economic recovery that charts a clear path to build more efficient institutions, galvanize the private sector and attract investments. These achievements would not have been possible were it not for the generous support from the Kingdom of Saudi Arabia and the United Arab Emirates. We believe that this support is an investment in the stability of Yemen and the security of the region and the world. Our government is facing many challenges to build on these. On this success achieved at the economic level, especially with the suspension of oil experts as a result of the terrorist attacks of the Houthi militia. They targeted shipping vessels and denied Yemen its sovereign resources. They damaged the global economy. They led to a rise in the cost of insurance and shipping and exposed the marine environment to grave risks. This is no longer an internal Yemeni affair. This is A direct threat to global trade and the international economy. Now is the time for equity for a partnership with the international community. Start starting with flexible financing mechanisms for vulnerable countries for debt relief for supporting production sectors. We believe that this summit should place Yemen and countries in conflict situations at the heart of its priorities so that half the world is not left behind. Our experience has shown that peace and development are two sides of the same coin. So supporting Yemen today is is not just supporting a country that is suffering. This is an investment in the stability of global economy, the protection of energy security and a guarantee for international navigation. Achieving stability and sustainable development in Yemen will require. The microphone was cut off. ECOSOC · Chair [2:06:23]: I thank the Vice President of the Presidential Leadership Council of Yemen. I now give the floor to the President of the Inter American Development Bank, Mr. Ilan Goldfein. IDB · President · Ilan Goldfein [2:06:38]: Thank you, Chair. Our role as MDBS is to combine policy support, financing guarantees, local capacity building and project preparation to support countries on their development goals and innovate to maximize scale and impact of our efforts. In Seville we announced three innovative initiatives that we are implementing with partners, but also with countries. Fire this expand disaster risk coverage by $2 billion with new tools including more ample CRDCs, a larger contingent credit line for countries and a business resilience program. We are also creating a pioneering regional disaster risk transfer program for countries to transfer extreme event risk to insurance and capital markets. We are working with several countries including Belize, Honduras and Panama. Number two, FX Edge. It is designed to provide tools to policymakers, a blended finance project preparation facility, a liquidity facility and and importantly an FX program to overcome one of the oldest and most pressing barriers to investment currency volatility. After two auctions, we have mobilized over $12 billion for Brazil. Number three. After publishing Amazonia bonds issuance guidance in July, we launched the Amazonian Bond issuance program to mobilize sustainable finance for the Amazon region to kickstart. The IDB will issue the first batch of $1 billion in projects that project tech forest, create jobs and boost resilience. We expect countries to follow looking forward. COP 30 we will have a joint pavilion in Belem with 11 MDBs. And the IDB has just launched Reinvest plus yesterday here in New York. A platform that connects local project financing with with global institutional investors. In Belem we will unveil details and partners participants in Reinvest Plus. We also issued the first Amazon Bonds and Amazonia for all ETF in Brazil. I hope to see you all there in Belem. Thank you very much. ECOSOC · Chair [2:09:00]: I thank the president of the Inter American Development Bank. I now give the floor to His Excellency, Prime Minister of Malta, Robert Abela. Malta · Prime Minister · Robert Abela [2:09:14]: Dear Excellencies, colleagues, dear friends. Mooltown is honored to take part in this first biennial summit on a sustainable, inclusive and resilient global economy. I commend the Secretary General for bringing us together at this great, critical and very important moment. Just two months ago in Seville, the international community recognized that our current system is not delivering enough for those who need it most. We agreed that the time has come to reform the international financial architecture, to lower the cost of borrowing for developing countries and to give a stronger voice to those who who are most vulnerable. The task before us now is to ensure that these commitments are indeed implemented. Malta, my country, believes that three priorities must guide us. First, inclusivity. A fairer financial system must amplify the voices of small states, small island developing States and the poorest economies. Of course, it must also introduce practical tools such as climate resilient debt clauses so that when crisis hit, repayment pauses give countries the breeding space that they need to recover. Second, implementation. The $4 Trillion annual SDG financing gap cannot be closed by domestic resources and the private sector alone. We need coordinated global action to build a system that is bigger, better and fairer, responsive to shocks, representative of all and effective in mobilizing resources. Third, people and resilience financing must translate into better lives for citizens everywhere. That means investing in health, in education and gender equality, and in digitalization and also climate action. These are the foundations of resilience and prosperity for all. Malta will continue to contribute as part of the European Union and through our own initiatives, through scholarships for students, digital health projects, support for small island developing States and other initiatives. Leaving the most vulnerable behind is not an option in 2025. Excellencies, we know what needs to be done. The question is whether we will act. Malta stands ready to play its part in building a sustainable, inclusive and resilient global economy for everyone and everybody. Thank you. ECOSOC · Chair [2:11:56]: I thank the Prime Minister of Malta. I now give the floor To His Excellency, Mr. Guston Brown, Prime Minister of Antigua and Barbuda. You have the floor. Antigua and Barbuda · Prime Minister · Gaston Browne [2:12:06]: Mr. Prime Minister. Thank you very much. Excellencies, we meet amid profound global turbulence. Global growth hovers at an average of 2.5%, far below what's needed to meet development and climate goals. Public Debt has hit 97 trillion, with over half of low income nations facing debt distress. Trade fragmentation, financial volatility and escalating climate disasters erode confidence everywhere. For sids, instability is not an abstract risk. It Is lived reality. In 2024 alone, climate related disasters wiped out $7 billion across SIDS, erasing years of progress in a single season. The IPCC warns sea levels could rise a full meter, threatening homes, people, ports and entire cultures. Many of our economies are dangerously concentrated. Tourism alone exceeds 40% of GDP in some islands, making them three times more vulnerable to shocks than the global average. Debt burdens over 80% of GDP are common, driven by recovery costs and scarce concessional financing. Families across all sids rebuild homes and schools Tools at personal cost. Excellencies, we cannot keep mortgaging our children's future merely to survive. Today, delay costs lives and livelihoods. Their time for hesitation is over. Through the Pact for the Future and the Paris Agreement, pledges for climate finance, loss in damage, support and a fairer multilateral system were made through the 2030 Agenda. Promises were made to end poverty, deliver education and health and reduce inequality. But progress remains slow. The problem is not vision, it is implementation. Sids are acting. The Antigua and Barbada Agenda for SIDS created a Debt Sustainability Support Service, the dss a bold mechanism to restructure debt and channel finance into resilience. By March 2026, we will close the first DSS transaction. And from 2026 onward, every new sovereign issuance will include climate resilient debt clauses. But we cannot do this alone. Multilateral development banks must expand concessional and grant financing and adopt vulnerability based access when disaster strikes. Debt service must pause automatically. No pleadings while our people suffer. Instruments that work State contingent debt, Climate resilient clauses, debt for nature swaps must become standard practice, not pilots. We invite MDBs, IFIs, philanthropy and private capital to partner with us through blended finance and guarantees. Our pipeline of resilient infrastructure, clean energy and adaptation projects is ready. Excellencies, Antigua and Barbuda. Let this first biennial summit prove that the commitments of Monterey, the path to the future are not just words and actions. History will not judge us by elements. The time for implementation is now. Thank you. I thank the Prime Minister of Antigua and Barbuda. ECOSOC · Chair [2:15:31]: I give the floor now to Mr. Ramir, chairman of Finance in Common Finance in Common · Chairman · Mr. Ramir [2:15:38]: Excellencies. I'm honored to speak on behalf of the Finance IN Common System Fix launched in 2020. It brings together all 530 public development banks from around the world, Multilateral, regional, national and sub national, representing annual investments of 2.5 trillion US dollar, approximately 15% of total global investment. As FIC's chairman, I'm honored by the full recognition of the role of PDBs in the FFD4 outcome document FFD4 strongly encouraged all PDBs to work as a seamless architecture to better channel finance toward SDGs and climate while leaving no one behind. I wish to commend the leadership of the presidents of multilateral development banks. Working as a system means enlarging as far as possible MDB's reform and fostering interoperability between national and international institutions. Fix is progressively implementing this ambitious mandate. First step 20202025 by gathering all PDBs from all constituencies, FICS helped envision a wider and more inclusive financial system. Second step Ongoing by developing common tools to lower the cost of capital and foster cooperation. A A global guarantee platform with MIGA to double the number of PDB Mobilizing private finance by issuing bonds Local currency de risking mechanisms Contribution to carbon market structuration Operationalization of country platforms. Third step coming we will engage with credit rating agencies and central banks to position pdbs as a new and distinct asset class and promote regulatory reforms accordingly. In the deep crisis facing international cooperation, we firmly believe your national development banks are uniquely positioned with their international partners to reconcile solidarity and sovereignty in a renewed way. And much expected architecture. FIX is an open and concrete laboratory to reinvent the framework of international cooperation. ECOSOC · Chair [2:17:57]: I thank Chairman Reom. I now give the floor To His Excellency Mr. John Brisenho, Prime Minister of Belize. You have the floor. Mr. Prime Minister, Excellencies, distinguished colleagues, we meet at a moment of acute global challenges. Cascading shocks combined with increasingly restrictive financial conditions are forcing many developing countries to scale back essential investments in the Sustainable Development Goals and climate action precisely when greater ambition is most needed. For small island and other vulnerable economies, the conversion of climate risk, debt distress and declining financial flows is eroding hard won development gains. To reverse this trajectory, a fundamental shift is needed. Reform of the international financial architecture must proceed with greater urgency and scale. CARICOM therefore proposes five priorities to help drive the transition from incrementalism to transformative change. First, you must transform debt into an engine for resilience. Belize · CARICOM · Prime Minister · John Brisenho [2:19:04]: Debt sustainability is an integral part to development instruments such as state contingent instruments and debt for climate or debt for nature. Swaps can convert unsustainable liabilities into long term investments in adaptation, resilience and growth. Second, it is time to properly value our natural assets. Our forest, reefs and oceans provide indispensable ecosystem services that absorb carbon, sustain biodiversity and that underpin global climate stability. Their value must be recognized within financial systems in ways that unlock development finance for those who safeguard them. Third, the global community must reward the Vital services provided by small island developing States, from stewardships of ocean spaces to preservation of biodiversity and indigenous knowledge seeds play an outsized role in planetary sustainability. Fourth, investment in scalable community driven initiatives is essential. Community driven renewable energy systems, sustainable fisheries and climate resilience agriculture show how local innovation can be scaled regionally and globally. Finally, coherence and equity must guide the global financial system. The Multidimensional Vulnerability Index must be operationalized not as an academic exercise, but both as a determinant of eligibility for concessional resources Excellencies. This is about safeguarding peace, stability and sustainable future for all. CARICOM stands ready to work with all partners to deliver a financial system that is fit for purpose, fair, inclusive and responsive to the realities of the most vulnerable. Let us move with urgency to turn commitments into action and action into transformation. Thank you very much. I thank the Prime Minister of Belize. ECOSOC · Chair [2:21:09]: I now give the floor to His Excellency, Mr. Allah. May Halina, the Prime Minister of Chad. Chad · Prime Minister · Allah May Halina [2:21:20]: Merci le President. Thank you, sir. Heads of State and government, Ladies and gentlemen. It's with a profound sense of commitment and responsibility that I'm taking the floor on behalf of the President of the Republican Head of State who tasked me with extending his fraternal wishes and to reaffirm the commitment of Chad to sustainable development. This summit is taking place at a turning point. It provides an opportunity to look at our collective commitments in terms of financing the Sustainable Development Goals and in particular to mobilise multilateral will around concrete, inclusive and urgent actions. Indeed, this summit is taking place in a context marked by unprecedented challenges. With more than 1.7 billion people living in extreme poverty and suffering the effects of climate change. I also wish to recall with conviction the promise made during our previous commitments, which were to work for a world where every nation, where every community and where every individual can aspire to a decent life in the respect of human dignity. Yes. Over the year gone by, the international community has adopted the path for the future. We did that last September, geared towards strengthening coordination between the United nations and international financial institutions. Ladies and gentlemen, for allied countries like Chad, we have many challenges. For example, the growing impact of climate change, strong pressure on natural resources, budgetary constraints aggravated by debt, structural vulnerability due to external shocks. Our conviction is a clear one. There can be no global prosperity without economic justice and international solidarity. For this reason, we call first of all for an equitable reform of the international financial system to make it better aligned with the real needs of developing countries, more effective and efficient mobilization of existing resources, including climate Financing three Technological and technical support. To enable us to better harness our resources and to implement our national priorities, CHAD launched a national Development programme, Chad Connection 2030. This plan is not only a strategy, but it is also a tradition. Ladies and gentlemen. ECOSOC · Chair [2:24:05]: Fragile and vulnerable countries must benefit from equitable mechanisms that take account of their specific realities. And this needs to be the departure point of a renewed partnership based on confidence, trust, transparency and joint responsibility. Chad remains committed. The speaker's microphone was cut off. I thank the Prime Minister of Chad, says the Vice President. And I give the floor to Mr. Maxime Prevot, Deputy Prime Minister and Minister of Foreign affairs of Belgium. You have the floor. ECOWAS · President · Omar Aliyoture [2:25:22]: We have a change of speaker, so I'll now give the floor to Mr. Omar Aliyoture, the President of Ecovas Excellencies. Distinguished delegates, ECOWAS appreciates the opportunity to take part in this high level gathering on the implementation of commitments to financing sustainable development Goals. African leaders have spoken earlier and will be speaking later and we subscribe fully to their positions. Allow me to focus on three priorities that are important to us and to the efficient mobilization as well as the efficient use of SDG financing. The first is peace and security. Excellencies, all that has been agreed in the Seville commitment would be of no value if peace and security are not assured. This is why financing for peace is crucial. In this regard, we at ECOWAS wish to renew our gratitude to the partners who have facilitated the adoption of Resolution 2719 of the United Nations Security Council that seeks to support peace support operations through United Nations Access contribution. The effective implementation of this resolution will go a long way in meeting SDG 16. The second priority is building stronger regional economic communities. Regional blocs offer members larger markets and opportunity to attract greater investment, thereby addressing SDG 8, SDG 9 and SDG 16. The third priority is governance. By governance, I don't mean regular elections. I mean accountability and stronger institutions. No amount of financial inflow will spur the type of social change we need without stronger national, regional and global institutions. Stronger institutions will spur domestic resource mobilization, harness private sector engagement and foster innovative financing. I thank you. ECOSOC · Chair [2:27:44]: I thank the President of ECOVAS. I now give the floor to His Excellency Mr. Bui Thanh Son, Deputy Prime Minister of Vietnam. Viet Nam · Deputy Prime Minister · Bui Thanh Son [2:27:56]: Thank you, Mr. Chair, distinguished guests, ladies and gentlemen. Vietnam welcomes the Secretary General's initiative in convening the first biennial Summit for Sustainable, Inclusive and Resilient Global Economy as a platform to unite multilateral efforts and call for stronger global governance, international cooperation and institutional reforms. As we move past the halfway point of the 2030 Agenda we note that the world is still grappling with deep and and interconnected challenges. It is the pivotal moment for us to be bold in vision, decisive in action through concrete steps to boost investment in sustainable development, address the debt crisis afflicting many of the world's poorest countries and give developing countries a stronger voice in the international financing architecture. Excellencies, Ladies and gentlemen. Over the past 40 years of renovation, Vietnam has achieved remarkable progress, emerging from the devastation of war into a middle income country with profound socio economic transformation. Throughout this journey, Vietnam has mobilized billions of US dollars in ODA and concessional loans which have been effectively invested in poverty reduction, infrastructure, education and public health. These achievements stand as a testament to both the resilience of our people and the enduring support of the international community as developing countries with an economy in transition, we are expediting efforts to improve the legal framework, advance reforms and remove bottlenecks to attract quality ODA and concessional loans, to meet urgent financing needs for strategic breakthroughs in institutions, infrastructure and human resources and to achieve the sdg. With this perspective, I would like to share three proposals as follows. First, people must be at the center as both the beneficiaries and drivers of all development policies and strategies to ensure that no one is left behind. Second, development finance must be prioritized for new engines of growth, including science, technology, innovation, green transition and digital transformation. This will help prevent technological divines from becoming new barriers to sustainable development. And third, we call for. I thank the Deputy Prime Minister of Vietnam. I now give the floor To His Excellency, Mr. Timcho Muczynski, Minister of Foreign affairs and Foreign Trade, Republic of North Macedonia. North Macedonia · Minister of Foreign Affairs and Foreign Trade · Timcho Muczynski [2:31:23]: Ladies and gentlemen, 80 years ago, the United nations rose from the ruins of war to end colonialism, to uphold human rights, to build a framework of peace, justice and international law. Over the decades we have carried that spirit forward. But today, many of the achievements are under pressure. Geopolitical rivalry, economic fragmentation, systematic risks all threaten to slow our progress and to erode our unity. For too many, the mission of eradicating poverty, tackling inequality and confronting conflicts feels impossible. Yet we know better. We know that when humanity acts with purpose, impossible things can be made possible. The that is why the Pact for the Future matters. It is our new global contract, and every contract carries both rights and duties. Our duty now is to care for this system we all share. For us, that responsibility is real. We supported the Seville commitment on financing for development. We are integrating sustainable development goals into our national development strategy, a strategy that looks 20 years ahead, nearly two thirds of those goals align with our European Union reform path. And we are proving that even a small country can think big, act responsibly and contribute solutions to global challenges. But let us be honest. Goodwill alone will not achieve the SDGs. Financing must be at scale. That means innovative approaches that blend public and and private capital, turning vision into projects and projects into progress. With trusted partners, UN agencies, development partners, investment banks. We are already seeing results from the Green Finance Facility supporting energy transition, to the World Bank's work on poverty reduction, to the EIB's investments in climate and infrastructure. Each is proof that partnership works. And yet much more is still needed because the challenges we face are urgent. And the clock to 2030 is ticking. Thank you. ECOSOC · Chair [2:33:37]: I thank Minister Moshinski. I now give the floor to His Excellency Mr. Mohammad Jagdar, Deputy Prime Minister and Foreign Minister of Pakistan. Pakistan · Deputy Prime Minister and Foreign Minister · Mohammad Jagdar [2:33:48]: Thank you. Chair. Allow me to begin by expressing my profound gratitude for convening this timely biennial summit. For too far long, the international economic order has perpetuated asymmetries and vulnerabilities. The SDG financing gap is widening, over 100 developing countries are mired in debt and the climate crisis is accelerating. Reform is no longer an option. It is an imperative. Excellencies, Pakistan welcomes the commitments made under the compromise D cevala this year. But commitments must turn into action. First, we must act decisively to confront the debt crisis. Initiatives such as Borrowers Forum, the Global Debt Data Registry and the UN led intergovernmental process on debt are welcome steps. But the ultimate goal must be multilateral sovereign debt management. Second, we must work towards rebalancing international financial governance. The IMF and the World bank should reflect contemporary global realities, ensuring that the developing countries are afforded a fair voice, equitable vote and just share in decision making. Third, scale up development finance, fulfill order commitments, expand concessional flows and re channel unused STRs to those in need. Fourth, deliver on climate finance. At least US$300 billion. Predictable and grant based. Pakistan knows this urgency. Three years after the 2022 floods that caused over US$34 billion in damages, we are once again underwater. Right now we contribute less than 1% to global emissions, yet pay the highest price. Fifth, build a fair trading system. WTO reform must restore development at its heart. Finally, we must make progress towards a UN led global taxation framework aimed at curbing illicit financial flows, profit shifting and tax evasion. Excellencies, ladies and gentlemen. Despite successive global shocks, Pakistan is on path to economic revival. Through tough macroeconomic reforms, we have delivered A primary budget surplus, curbed inflation, reduced our debt to GDP ratio, reduce our policy rate and mobilize domestic resources. Excellencies, but no country can face these crises alone. The challenges are global. Solutions must be collective. For Pakistan and for much of the global south, it is about survival and the right to development. Together we must build an economic order that is inclusive, equitable and leave no one. ECOSOC · Chair [2:36:55]: I thank Deputy Prime Minister of Pakistan. I now give the floor to His Excellency Mr. Muhammad Ali Nafti, Minister of Foreign affairs of Tunisia. He's not here. We have a change of speaker. And now I give the floor To His Excellency Mr. Maxim Ryzenkov, Minister of Foreign affairs of Belarus. Lao People's Democratic Republic · Minister of Foreign Affairs · Tongk Savan Bombianne [2:37:35]: We have another change, so the floor goes to His Excellency Mr. Tongk Savan Bombianne, Minister of Foreign affairs of Laos. Mr. President, the convenience of this first Biennian submit for sustainable, inclusive and resilient global economy provides a timely opportunity for us to review our collective commitment to financing the SDGs and to translate them into tangible action. The La PDR welcomed the adoption of the Compremiso de Silva at the 4th International Conference on Financing and Development which offers a renewed global impact to address the pressing financial need for the 2030 Agenda. Moreover, it was established a political blueprint to strengthen international cooperation addressed debt, environment, mobilized resources for sustainable development and advanced reform toward more inclusive and resilient global finance system. These commitments are closely aligned with our PDR priorities, particularly ensuring debt sustainability, expanding financial fiscal space and securing adequate and predictable resources to support national development goals. Recognizing the unique challenges behind in being both the LDC and ndc, the Lao PD has integrated the objective of the program Action for LDC and LDCS into comprehensive strategy, National Economic Development Plan and smooth Transition strategy and financing framework including the integrated National Financial Framework and Finance Strategy. These measures aim to strengthen economic resilience, developing human capacity, enhance transport and trade and supporting sustainable effective transition or LDC graduation. At the same time, we must admit that achieving NDC is quite robust. Multi cooperation and strengthened partnership limitation in global financial resources continue to constrain this development, particularly countries special situation. We allow PDL call on the developing partner international financial institution to continue providing support including through ODA and other financing support measures. We also carried close collaboration with graduating countries to ensure that these financing support measures are allied with the national priority and develop strategy including the commitment under the compression de Silva promoting knowledge sharing, capacity building and collaboration in support sustainable inclusive development for all. According Secretary General Gutierrez Antonios sentiment that graduation must be viewed as a reward Not a punishment. I reaffirm Lapidia unwavering commitment to global partnership and promoting equitable, inclusive and development in pursuit for better future for all. Thank you. ECOSOC · Chair [2:40:43]: I thank Foreign Minister of Laos. Now the floor goes To His Excellency, Mr. Maxim Ryzhenkov, Minister of Foreign affairs of Belarus. Belarus · Minister of Foreign Affairs · Maxim Ryzhenkov [2:40:58]: Mr. President, we welcome the holding of this summit and view it as an important event for strengthening international cooperation in implementing the 2030 Agenda. Unfortunately, the current situation in this area is not encouraging. And why? Without peace, there can be no sustainable development. These are the words said by the President of the Republic of Belarus, Alexander Lukashenko, and he said them at the UN summit in 2015. These insightful words explain everything, and they also provide us with a guide to action. Indeed, over the past three decades, Western countries have done everything possible to strengthen their elusive hegemony and dominance at the expense of the interest of the global majority countries. Creating armed conflicts, provoking color revolutions and stoking the fires of war in various regions of the world are good examples of that. So what should we all be doing now? First, politically, we must stop and reverse the negative trends in global politics. Politics. What's important here is organizing a global security dialogue in the true spirit of San Francisco. This need is something the President of Belarus voiced back in 2017. We're deeply convinced that sooner or later such a dialogue will begin. Life itself will demand it. Second, what do we need to do economically? We are witnessing the fragmentation of the global economy, and this is the inevitable result of the selfish policies of Western countries which undermine the existing order of the way the international financial institutions functions. It is absolutely clear that this globalist system cannot work in the interest of global development. This understanding, in turn, calls for the creation of a new, fair multilateral development architecture. The core of such a structure is now currently being promoted through regional entities, Latin American states and such international entities as brics, for example, which are not linked to the Western economic model. The potential of such an architecture was clearly demonstrated recently at the recent Shanghai Cooperation Organization Summit. Third, financially, international development assistance commitments must not depend on the political preferences of donor countries. At the same time, all external barriers that hinder national financial sustainability must be eliminated. Unlawful sanctions, for example Trade and currency wars, absurd tariffs, financial seizures, and restrictions on access to innovations and investment reduce the financial potential of states. And the fourth thing that we need to do, and it is on the national context, the implementation of the SDG is a responsibility of each individual country. And what needs to be done so is to the microphones cut off. ECOSOC · Chair [2:44:07]: Thank you, Mr. Minister, give the floor to Professor Vincent Maniela, Secretary General of the African Development Bank. AfDB · Secretary General · Vincent Maniela [2:44:20]: Thank you very much. I wish to thank you for the honor of addressing you today on behalf of His Excellency Dr. Sidi Ota, President of the African Development Bank Group. Africa comes to this first biennial summit with clarity of purpose. Seville, set a clear direction, catalyze investment at scale, tackle the debt and development crisis and modernize the international financial architecture. Under the leadership of Dr. TA, the African Development Bank Group will contribute to this endeavor by focusing on four priorities. First, resource mobilization to close the development financing gap. Indeed, USD 4 trillion is the new annual financial target. To meet this sustainable development Goals, we must unlock much larger, better priced capital for Africa. The African Development bank has championed innovative pathways, most notably balance sheet optimization, the sdre channeling through hybrid capital, enhanced callable capital deployed significant risk transfers and blended finance alongside stronger concessional financing through a strong replenishment to the African Development Fund and expanded local currency solutions that de risk investment and enable borrowers to multiply scarce resources into scalable leading lending for climate action, food security and jobs. We will continue to build on the progress and press for wider implementation. Because reforming global finance is not optional. It is indispensable to a fair inclusive architecture that truly serves Africa and the developing world. Second, a clear African financial architecture rooted in partnerships. Africa's financing system will be built with African institutions and global partners, but anchored in African priorities. The LVB will work with the UN system, AU financial institutions, peer multilateral groups in long term investment, improving risk sharing and fair debt workouts, while ensuring financial systems that that are more responsive to Africa and effective for Africa's development goals and for accelerating the SDGs. Third, realizing the dividend of Africa's demography, its youth and women. Fourth, sustainable infrastructure and value addition. Africa will not prosper by exporting raw materials. We are expanding special agro industrial zones including in building reliable energy systems. Finally, climate resilience is integral to all four priorities. The FDB stands with the UN to deliver early warning systems and climate adaptation at speed and scale, protecting lives today while safeguarding development for tomorrow. Thank you very much. ECOSOC · Chair [2:47:13]: I thank Secretary General of the African Development Bank. I now give the floor to to His Excellency Mr. Sitiveni Ligamanada Rabuka, the Prime Minister of Fiji. Fiji · Prime Minister · Sitiveni Ligamanada Rabuka [2:47:29]: Thank you, Honorable Chair. Your Excellencies. Achieving the Sustainable Development Goals target for by 2030 remains elusive. The funding gap of $4 trillion needed for developing countries is a stark reminder of the uphill battle that we face in advancing the SDG Goals Small island states like Fiji face unprecedented challenges such as the climate crisis, compounded by the challenge of financing sustainable development initiatives. It is to be noted that our national finances are rediverted for socioeconomic recovery as a result of frequent national disasters, mostly natural disasters. As we stocktake progress at this 80th session of the General assembly, we continue to face challenges of climate change, environment pollution, armed conflict and rapid urbanization, which is compounded by the growing global population. In today's context, one factor remains constant, rising debt. And Benjamin Franklin said there are only two certainties, that is debt and taxes. I say that we now have three, with debt included. In this realm of certainties, building a sustainable, inclusive and resilient economy requires consolidated effort from countries as they must exceed routine national revenue and further increase investment in key sectors such as infrastructure, health and education. Fiji calls on financial institutions to consider the Multidimensional Vulnerability Index mbi. In assessing the challenges encountered by small island states, we need to implement a civil compromise and make real commitment to addressing the existing funding gap. Your Excellencies, our plight is urgent. We need a financial system that is cognizant of our reality. I urge fellow leaders to scale up efforts in the implementation of SDGs, especially for countries in special situations such as small island developing States as we march into the last quarter of the 2030 Agenda. Thank you very much. ECOSOC · Chair [2:50:15]: I thank the Prime Minister of Fiji. I now give the floor To His Excellency Mr. Mulambo Nhaimbe, Minister of Foreign affairs and International Cooperation of Zambia. Zambia · Minister of Foreign Affairs and International Cooperation · Mulambo Nhaimbe [2:50:28]: Thank you. Thank you very much. Mr. President, Excellencies, distinguished delegates, ladies and gentlemen, I have the honor to speak to you on behalf of the Government of the Republic of Zambia on this historic first biennial summit for a sustainable, inclusive and resilient global economy. This gathering comes at a critical juncture as the world confronts the interlinked crises of debt distress, climate vulnerability, slow economic recovery and growing inequality. Zambia welcomes this summit as a timely platform to reimage the global financial architecture so that it serves the needs of all countries, particularly low and middle income economies that are striving to recover from shocks and to build resilience as well as to deliver on sustainable development goals. My comments on each of the themes provided are as 1. Building a more inclusive global financial system. For too long, developing countries have operated within a financial architecture that is unresponsive, fragmented and inequitable. Zambia strongly supports calls to reform multilateral financial institutions, including enhanced representation for African and least developed countries. Expand access to concessional and blended financing, especially for climate Adaptation and social sector investment. Operationalize new international tax rules to prevent illicit financial flaws and base erosion that drain national resources. We echo the Secretary General's call for a new Bretton woods movement rooted in inclusion, solidarity and long term Investment in human development. 2. Advancing domestic economic transformation. Zambia is undertaking ambitious reforms to restore macroeconomic stability, reduce public debt and mobilize domestic resources. Following our successful debt restructuring agreements with bilateral and private creditors, we have reinstated fiscal discipline and increased transparency. We have also prioritized investments in education, health and climate resilience infrastructure. We also have launched a new public private partnership framework to unlock private capital for national development. Our 8th National Development Plan is aligned with the SDGs and the African Union's agenda and we are committed to creating a more inclusive and diversified economy with a focus on youth employment, value addition and green industrialization. I thank foreign minister of zambia. ECOSOC · Chair [2:53:50]: Thank you. I give the floor to his excellency Mr. Ivan pinto, foreign minister of venezuela. We have a change of speaker. I now give the floor To His Excellency Mr. Hugh Todt, Minister of Foreign affairs and International Cooperation of Guyana. We have another change and now I. I now give the floor to his excellency Mr. Abdel haq saihi, minister of labor of algeria. See the race, Mr. Chair. Inequality between the north and the south exists and is deepening and this has a direct impact on the populations of our countries of the Global South. There's a technology gap as well. These inequalities, if they're not addressed, will impact not just the Global south, but the stability of our entire planet. That is why it is essential that we choose a new approach to address these issues. An approach based primarily Algeria · Minister of Labor · Abdel haq Saihi [2:56:09]: on building trust between countries of north and south and also strengthening the world's economy through establishing good governance practices, allowing developing countries access to decision making in the global arena. It also depends on the commitment of all actors on the world stage to sustainable development, particularly in terms of financing for development, addressing debt, climate change and good governance. This is the approach of Algeria working side by side with other countries for the just peace. Thank you. ECOSOC · Chair [2:57:10]: I thank minister of labor of algeria. I now give the floor to his excellency Ms. Erson posada, minister of finance of el salvador. We have a change of speaker. We'll have a short pause for four or five minutes and we will reconvene shortly. Thank you. Speaker 77 [2:59:51]: It's. It. ECOSOC · Chair [3:01:15]: We reconvene the meeting and I now give the floor to His Excellency Mr. Xavier Ampin Busotto, Secretary of State for Foreign affairs. And international cooperation of the Republic of Honduras. Honduras · Secretary of State for Foreign Affairs and International Cooperation · Xavier Ampin Busotto [3:01:33]: Honorables, Colegas, colleagues, representatives of the multilateral international financial system. Ladies and gentlemen, it's an honor for the Republic of Honduran to take part in this first biennial summit. A strategic platform aligned with the historic moment that we find ourselves in. A moment when financing for sustainable development must move from rhetorical pledges to effective implementation. We're confronting a triple challenge. Climate, social and economic one. All are urgent. This is why we believe it's essential to consolidate multilateral efforts to reorient the international financial system towards a truly inclusive trajectory, a resilient and sustainable trajectory. In Honduras, we are in favor of a global financial architecture that is centered on fulfillment of the SDGs. In particular with regard to mobilizing financial resources on just predictable conditions adapted to the realities of developing nations. We welcome the purpose of this biennial summit to draw up an inventory of the various commitments undertaken in various fora with a specific focus on the expected results. Starting with the fourth International Conference for Finance and for Development. Honduras has expressed its readiness to work actively so that that conference wasn't simply a one off event, but a catalyst for specific concrete and measurable results. We would like to make an appeal that this forum serves to strengthen cooperation among multilateral institutions, including development banks, cooperation agencies and regional financial institutions. But by articulating innovative financing mechanisms, including debt swaps for sustainable development, accessible climate financing and mechanism guarantee mechanisms that that promote a private investment in key areas. The implementation of the 2030 Agenda is not merely the responsibility of the countries of the Global South. It is a collective imperative that requires shared responsibility, political determination and an in depth redefinition of the rules that govern access to and distribution of international resources. On behalf of the government of. The microphone is switched off. ECOSOC · Chair [3:04:43]: I thank the Secretary of State. Give the floor to your Excellency, Mr. Torgerdur, Kathryn Kunar's daughter, Minister of Foreign affairs of Iceland. We have the floor. Iceland · Minister of Foreign Affairs · Torgerdur Kathryn Kunar's daughter [3:04:53]: Madam Minister, Excellencies. This first biennial summit comes at a crucial moment to sustain the momentum following a successful FFD4 in Sevilla. We must harness this energy to restore a sense of progress, progress and optimism for the SDGs and beyond. Building on the Pact for the future, we must work together to purposefully shape a more inclusive multilateral system. The UN aid reform process offers a once in a generation opportunity to do just that. Regardless of which country we represent, there is a shared public expectation that the multilateral system should deliver better outcomes more efficiently. Too often it is perceived as having fallen short alongside the institutional reform and more inclusive Representation. I would like to highlight one key enabler of progress on the respect for human rights, gender equality and women's empowerment. These were fundamental to Iceland's own social and economic development. As we strive to reform multilateral institutions, we must ensure they are equipped to promote gender equality and women's empowerment. This includes achieving gender parity with the institutions themselves, especially in leadership roles. Ultimately, advancing gender equality requires strong political will and dedicated, dedicated financing. We must work together to promote both Excellencies. The challenges we face are global in nature. When we fail to address them, the consequences instability, inequality or disarray are felt by all. But the impacts are not equally shared. Those most marginalized suffer the most and their voices must therefore be amplified. The many multilateral processes we are connecting here today establish a path forward guided by a clear and urgent call to action. The compromise DE Sevilla Politics is the art of the possible and we must all believe that a brighter future is within reach. Now, ladies and gentlemen, is the time for all of us to heed the call and deliver on our commitment. Thank you. I thank the Foreign Minister of Iceland. I now give the floor to the President of IFAD, Mr. Alvaro Lario. IFAD · President · Alvaro Lario [3:07:42]: Excellencies, Colleagues, Ladies and Gentlemen. IFAD is pleased to be here today to deliver better the multilateral financial systems needs to tackle fragmentation, build scalable solutions including bringing the private sector. This is why we are here today. The size of the challenge is huge. Partnerships are more important than ever. As both an international financial institution and a United nations specialized agency. IFAT combines the focus on results, financial instruments and financial discipline of a financial rated institution combined with the inclusive governance, core values and focus on not leaving anyone behind of the United nations through leverage and co financing. Every dollar invested in IFAT over the years has resulted in $6 worth of investment on improving the lives of rural women and men. IFAT works with all of the MDBs here in the room. Building on our complementary strengths, we joined forces to scale up financing on food security in the first mile and especially a focus on small scale farmers. As an assembler of finance, IFAD invests with the governments, public development banks and the private sector to mitigate risks and and unlock opportunities for rural communities being left behind. As we are embarking in a new cycle of replenishment in 2026. We look forward to working with everyone here today to transform agri food systems, invest in rural economic opportunities and improve livelihoods in the most remote rural areas of the world. Thank you for your attention. I thank the President of ifat. ECOSOC · Chair [3:09:16]: I now give the floor to To Her Excellency, Foreign Minister of Georgia, Ms. Macab Ochorishvili. You have the floor, Madam Minister. Thank you, Mr. Chairman. Let me begin by thanking for convening this biennial summit. It offers a timely and critical platform to evaluate our collective progress in financing the Sustainable Development Goals and to build on outcomes of the fourth International Conference on Financing for Development. Georgia · Minister of Foreign Affairs · Macab Ochorishvili [3:09:45]: As we commemorate the 80th anniversary of the UN Charter. Against the backdrop of rising global challenges, from protected conflicts and widespread human rights violations, to mounting food insecurity, economic inequality and accelerating impact of the climate crisis, these overlapping shocks are not only reversing decades of development gain gains, but are also exploiting deep vulnerabilities in the global financial system. This summit therefore must serve as a turning point to reinforce our shared resolve to deliver the pact for the future and to mobilize the resources, political will and cooperation necessary for equitable and sustainable development. Distinguished colleagues, Georgia is fully committed to the vision. Despite facing regional uncertainties and external shocks. We have preserved macroeconomic stability through prudent fiscal and monetary policies, achieving an average growth rate 9.7 over the past four years. Our economy has shown resilience with dynamic performance in sectors such as trade, transport, tourism, construction, driving inclusion, inclusive and sustainable recovery. More importantly, we are redirecting public resources towards long term national and regional priorities. Investing in renewable energy to meet climate goals and to support regional energy security. Accelerating digital digital transformation to close connectivity gaps and to improve public services. Advancing strategic infrastructure such as Black Sea Submarine cable and Anaklea Deep Sea port to enhance connectivity between Europe and Asia. These projects will not only strengthen Georgia's connectivity economic foundation, but also contribute to the broader transformation of the Middle Corridor into a competitive, secure and sustainable route for trade and energy. We also take pride in Georgia's role as a hub for open trade. With 16 free trade agreements, our market is connected to 2.3 billion consumers across Europe, China, UK, CIS countries. Excellencies. All of this progress is taking place despite ongoing security challenges, including illegal occupation of Georgia's two regions, Abkhazia and Tskhinwali by the Russian Federation. Our response remains rooted in international law and peaceful conflict resolution. ECOSOC · Chair [3:12:33]: I thank Madam Foreign Minister of Georgia. I now give the floor To Her Excellency, Ms. Rindra Zimbelo Rabarini and Arizon, Minister of Economy of Finance of Madagascar. Madagascar · Minister of Economy and Finance · Rindra Zimbelo Rabarini and Arizon [3:12:47]: Excellence. Madame de Monsieur. Your Excellencies, ladies and gentlemen. Often prized as a very attractive destination in the Indian Ocean, Madagascar is well known for its products such as coffee, vanilla, spices, but also for its critical minerals and its Textile industry. Our island houses some 90 of endemic flora and fauna including the famous Baobab. However, the United States categorizes Madagascar among the most vulnerable countries in the face of climate change. Although we only emit 0.01% of global CO2, we experience hundreds of millions of dollars of climate damage every year. Our agriculture, which represents 1/4 of GDP and that that employs 80% of the population, has been devastated. Furthermore, our economy has not been spared by international crises either. A brutal recession in 2020 over minus a 7% drop due to Covid and as well as an explosion in the price of wheat which over one half comes from Russia as well as increase in the price of credit and micro finance as well as crisis in mines and textile industry impacted by American tariffs and other sectors affected by the withdrawal of American support. This also aids have been increased. Aid has been increased to Ukraine. Madagascar is only $175 happened per year, far from the $414 perhaps essential to achieve the SDG's. External public debt is nevertheless sustainable, but the burden of reimbursing in foreign currency is essential. We also are. We also have very serious current accounts issues in the face of this situation. Madagascar has managed to maintain a stable growth with an average of 4.2% since 2022. However, we have advocated for long term concessional financing as well as debt swaps that take into account climate change, climate injustice that we experience. We defend the continuity of regional approaches to support our commercial policies. And lastly, we would like to appeal to a more fair international solidarity adapted to our realities in order to build a resilient, resilient economy. On the behalf of our government, thank you very much. ECOSOC · Chair [3:15:50]: Thank you. Madam. Floor To. His excellency Mr. Mohammed alinafti, minister of foreign affairs of tunisia, Tunisia · Minister of Foreign Affairs · Mohammad Ali Nafti [3:16:11]: I have the honor to deliver the statement on behalf of the President of the Republic of Tunisia. It is also my pleasure to tell you our deliverables for sustainable Development Goals. We believe that everything should be consistent. We commend the Secretary General for this initiative stemming from the Summit of the Future. We also commend him for using the UN's unique convening power to bring together relevant global actors to coordinate efforts and align global economic policies and financial Systems with the 2030 Agenda. Institutionalizing this summit as a biennial event would represent a major step towards more systemic coordination and more harmonized strategies among multilateral institutions which can accelerate the 2030 Agenda and ensure greater efficiency in addressing the challenges facing the developing countries, especially in the current context of a growing development financing gap, high debt service costs, escalating trade tensions and falling aid flows. Today's fragmented financial system calls for a bold overhaul of international finance financial governance to reflect the realities of today's interconnected yet unequal world. In this context, we emphasize the need for reforms that strengthen the voice and representation of developing countries in international financial institutions, ensuring fairer quotas, voting rights and board representation. Only then can we restore trust and legitimacy to the global financial system. Equally urgent is scaling up concessional financing, deploying innovative instruments and offering flexible debt restructuring. Converting costly short term borrowing into long term affordable instruments or into investment on development and climate projects would ease that burdens and create fiscal space. Tunisia also supports the repurposing of the special drawing rights and leveraging them through multilateral development banks to provide affordable financing and investment capacity to vulnerable economies. But reforms must go further. Credit rating agencies must be held accountable to transparent development sensitive criteria so that their assessments do not unfairly penalize developing countries. The microphone has been cut off. ECOSOC · Chair [3:19:09]: I thank Minister of Foreign affairs of Tunisia. I now give the floor To His Excellency Mr. Kherson Posada, Minister of Finance of El Salvador. El Salvador · Minister of Finance · Kherson Posada [3:19:33]: Excellencies, distinguished heads of delegation, ladies and gentlemen, it's an honor to participate in this first biennial summit and to share with you the advances achieved by our country on the path towards this sustainable economy. El Salvador comes before you at a time of deep transformations. Our strategy for a sustainable, inclusive and resilient economy is based on an important social goal and that is the reduction of crime and public insecurity we have from a country most affected by violence. We've become one of the safest in the Western Hemisphere, reaching levels of homicide that are the lowest in the world. However, this path has not been easy and the results of this transformation are tangible and recognized outside of the country, strengthening trust and tourism and boosting the economy of El Salvador. Today we have very clear plans with a vision of the future. We are laying the groundwork to achieve financial stability by attracting investment and by opting for innovation with our eye on a coherent strategy of development. To consolidate these achievements, the government of President Nayib Bukele has prioritized economic growth that will be based on sustainability of public finances. The In 2024, our economy reached over $35 billion of GDP with four consecutive years of expansion and a projected sustained increase. This growth has been bolstered by record investment, dynamic exports and a tourism sector that has doubled its income compared to the pre pandemic period. With over 3.9 million foreign visitors in 2024, tourism has become a stable source of employment and currencies, thanks to an environment based on trust and public policy that combines fiscal discipline with productive dynamism. The confidence of international markets has also been restored. Our credit rating has improved, the risk of refinancing has been reduced, and the recent agreement with the IMF is moving forward satisfactorily. El Salvador is building an economy of the future. We know that we haven't achieved all our goals, but we are continuing to work on key sectors such as education and health care, which are key for this future. As a country, we are exploring the potential of technology, technological tools as a driver of productivity and competitiveness, together with investments in connectivity. The microphone has switched off. ECOSOC · Chair [3:22:41]: Minister de Hacienda del Salvador thank you. Minister of Finance of Salvador, El salvador. His Excellency Mr. Espen Bart, Minister of Foreign affairs of Norway. Thank you very much. President, Excellencies, ladies and gentlemen. Norway · Minister of Foreign Affairs · Espen Bart Eide [3:22:59]: The needs are up and money is down. So we have a serious problem of trying to find out how we can better apply the resources that are made available. Which is why I'm particularly pleased that the Pact for the Future has mandated this important summit. Norway was a co facilitator of the Financing for Development outcome documents. And I'm happy that Compromiso de Sevilla provides a shared framework to catalyze investment, mobilize domestic resources, address debt vulnerabilities and reform the international financial architecture. But what really matters now is that we actually use and implement our commitment in the un, in the international financial institutions at home, in our capitals and elsewhere at across the board, across all silos. That's when it really matters. And I want to support the initiative by President Ramaphosa to try to use the summit of G20 to discuss just that. Norway is deeply committed to an effective, inclusive and representative UN. A global order based on international law and the UN Charter. We welcome the Secretary General's UN 80 initiative and we stand ready to engage with all other states from other regions that want to build a stronger and more efficient un and to understand that the principles upon which the UN was founded are as valid as ever. But we need to improve the delivery and the salience of our institutions. We support continued reforms of the multilateral development banks. We need to broaden and enhance the voice and representation of low income countries in global economic governance. And we look forward to the un, the IMF and the World bank working constructively together to develop global guiding principles based on the idea of responsible sovereign borrowing and lending. As we agreed in Sevilla. I would also like to say that Norway very much welcomed the initiative from the Africa Group and the work that is now ongoing for developing a framework convention on global tax cooperation. This is essential in order for countries to mobilize the resources that actually exists within their borders. Before all that money has gone away and ended up in other places, like in tax havens. We need to do more at the same time to support national systems and institutions with an emphasis on tax, on public finance, statistics and accountability mechanisms, rule of law matters in economy. This is key to mobilize domestic resources for sustainable development. The Compromiso, the Sevilla and the Pact for the Future gave us a clear path forward. Now we have to translate these commitments into concrete action that strengthen collaboration, multilateralism and deliver on the SDGs. Thank you for your attention. I thank the Minister of Foreign affairs of Norway. ECOSOC · Chair [3:25:56]: I now give the floor to His Excellency, Mr. Victor Hugo Guillerme, Minister of Planning of Angola. Angola · Minister of Planning · Victor Hugo Guillerme [3:26:06]: Merci, Brazil. Thank you, Chair, Excellencies, distinguished delegates. It's a great honor for me to speak here at the first biennial summit based on the Pact for the Future and the civil commitment adopted at the International Conference on Financing for Development. There, the international context is marked by considerable uncertainty, geopolitical, environmental and economic crisis or crises. This makes annual financing difficult, in particular for the Sustainable Development Goals. Africa contributes at least 4% on the global scale, but carries a disproportionate burden of the damage done by the climate change and the inequality in the financial sphere. This situation underscores the urgency of reforming the international financial architecture to make it inclusive, legitimate and more responsive to the needs of the countries of global South. In this context, Angola reaffirms the common African position. It's urgent to respect the commitments with regard to sovereign debt, mobilization of national resources, fighting illicit financial flows and equitable measures to address climate change. Without effective measures in that regard, we will continue deepening this vulnerability. Excellencies, the success of the summit depends on our ability to live up to the commitment to put in practice our pledges. Angola believes that this is the moment to restore confidence trust in multilateralism. The Seville commitment must be followed and be translated into concrete solutions for all, especially the most vulnerable. Thank you. ECOSOC · Chair [3:28:56]: I thank the Minister To His Excellency Mr. Paolo Rangel, Minister of State and Foreign affairs of Poland, Portugal. Thank you, Chair. The biennial Summit for Sustainable, Inclusive and Resilient Global Economy is an important step to strengthen multilateralism, promote partnerships and involvement of key actors in discussing the implementation of the recently adopted Sevilla Commitment the Pact for the Future and and the 2030 Agenda for Sustainable Development. Due to the enormous challenge faced the future, global development also depends on the increasing sustainability of its financing. To achieve this objective, three main areas should be addressed. Portugal · Minister of State and Foreign Affairs · Paolo Rangel [3:29:52]: First, mobilization of domestic resources in order to support vulnerable countries. We believe that one of the most important issues is increasing the mobilization of domestic resources. It is necessary to create conditions for effective investment risk reduction, particularly through a favorable environment regarding institutional consolidation, good governance, rule of law, increase tax revenues, improve quality of expenditure and administrative transparency. Cooperation in areas such as debt management and improving the efficiency and scope of tax systems could have a significant impact in unlocking resources for development. Second, cooperation with the private sector. Cooperation with the private sector, the private sector arms of international financial institutions and bilateral development agencies, including official export credit agencies, is fundamental to improve financing for development. It is crucial to accelerate and facilitate debt relief under the common framework, particularly for the most vulnerable and low income countries. We see debt swaps as a complementary way to stimulate investment as well as means of incentivizing the mobilization of resources from multiparters and creditors. Multiliberal development banks play a key role and the third point is engagement with multilateral development banks. They play a key role in mobilizing international finance. Portugal closely follows the reform carried out by the G20 with the multilateral development banks, particularly through G20 roadmap towards better, bigger and more effective MDB's roadmap of November 2024. So we refer our engagement with. ECOSOC · Chair [3:32:21]: I thank the Minister of State and Foreign affairs of Portugal for his statement. And I give the floor To His Excellency Mr. Aramanatha Nasir, Cabinet Minister on Multilateral affairs for the Ministry of Foreign affairs of Indonesia. You have the floor, Sir. Thank you, Mr. President. We meet today with cautious optimism. Indonesia · Cabinet Minister on Multilateral Affairs · Aramanatha Nasir [3:32:53]: Inflation is easing, digital transformation is accelerating and investment in green infrastructure is rising. The IMF project global growth at 3% this year while encouraging, as stated this morning by the IMF Managing Director, resilience is Fragile. Without reform, the 4 trillion annual financing gap must be closed or the 2030 Agenda will remain a castle in the sky. To succeed, we must link the dots. Synergizing the UN legitimacy, the World bank and IMF instruments and the G20 political weight. Only by acting as one ecosystem can we deliver real solutions for a more sustainable and inclusive global economy. Reforming the international financial architecture is long overdue. It is unfit for today's climate shocks, debt distrust and inequalities. To this end, the Compromiso da Silva must be more than just ink on Paper. It must be our roadmap for action. And central to this is transformation and inclusion. Developing countries must have equal seats at the table. History will not judge us by words alone, but by how we turn ambition into partnership and cooperation into shared progress. Indonesia stands ready to help shape the global economic system that is fair, inclusive and future. Ready. Thank you, Mr. President. Burkina Faso · Minister of Foreign Affairs · Jean Marie Karamouko Traure [3:34:44]: I thank the Minister for his remark. And I now give the floor To His Excellency, Mr. Jean Marie Karamouko Traure, Minister of Foreign affairs of Burkina Faso. You have the floor, Sir President, Mr. Chair, distinguished delegates. Burkina Faso welcomes the holding of this first biennial summit on a sustainable, inclusive and resilient global economy. We fully associate ourselves with a statement made on behalf of G77 and China. The economic situation of Burkina Faso is illustrative of the countries of the Sahel area. Our government has to fight on a number of fronts. Development and security to protect its people and preserve its territorial integrity. Our country has also made huge efforts to promote overall security. This imperative has had a tangible result on the restoration of peace and also economic growth. To build a sustainable, inclusive and resilient global economy, we have to make bold choices based on solidarity. Burkina Faso fully supports the the concept of reforming international financial architecture to make it more representative and responsive to the needs of developing countries. Relief. A substantial relief of the burden of debt to liberate necessary resources for social investment, more flexible and equitable practices by international financial institutions that would truly support local realities. We also support the mobilization of substantial resources required on an annual basis to finance sustainable development. And we respect the commitments taken in terms of fighting climate change. Burkina Fonso moves forward with dignity and courage along the road of resilience and development. The construction of a sustainable global economy and a sustainable and resilient one requires something that would address the right of everyone. Building trust among nations, strengthening peace and guaranteeing the dignity of each nation. Thank you very much. ECOSOC · Chair [3:37:54]: I thank. Maldives · Minister of Foreign Affairs · Abdullah Khalil [3:38:00]: The Minister of Foreign affairs of Burkina Faso. And I now call upon To His Excellency Mr. Abdullah Khalil, Minister of Foreign affairs of the Maldives. You have the floor, sir. Madam Chair, all protocols observed. Stall developments rise in debt, shrinking fiscal space. This is not a story of poor policy choices. It is the structural fault line of the global financial system. The Maldives and other small island developing States knows the cost too well. Between 2026 and 2028, SIDS will pay over $27 billion in debt service, 12 billion to official lenders and 15.3 billion to private ones. Debt service is rising several times Faster than spending on education, health or investment. In the years ahead, these essential budgets will shrink even further. This strikes at the very purpose of this biennial summit. How can we build a sustainable, inclusive and resilient global economy if SIDS are forced to repay creditors at the expense of the SDGs? Unless this imbalance is corrected, the commitments we celebrate will remain beyond reach. When we must choose between hospitals or early warning systems, the future we want slips away. These are not abstract choices. They are between dignity today and survival tomorrow. Yet the structures that shape them continue to explain, exclude our voices, quotas, voting rights, representation, all tilted against sids. If we bear the consequences, we must also shape the solutions. That means urgent reforms of the financial architecture, debt restructuring as a priority, debt relief for investment in resilience and debt for nature swaps, access to concessional finance and DE risks. Private capital aligned with SDGs. Seats do not lack ambition. Last year, President Dr. Moise set the goal for Maldives to become a developed nation by 2040. We have created a Development bank of Maldives, Export expanded trade partnerships and integrated new international airport terminal to diversify our economy. But we cannot sustain progress if we borrow costs remaining prohibitive for sids. The biggest obstacle is unfair credit ratings. I thank you. ECOSOC · Chair [3:41:22]: I thank the Minister for his statement. And now I give the floor to. I think. Excuse me. I thank the Minister of Foreign affairs of the Maldives for his statement. And now I give the floor To His Excellency Mr. Peter Sijarto, Minister of Foreign affairs and Trade of Hungary. You have the floor, Sir Ambassador, thank you so much. Hungary · Minister of Foreign Affairs and Trade · Peter Sijarto [3:42:04]: Thank you for convening this meeting. It is highly timely given the fact that we are living in the age of the dangers. It's not an exaggeration to say that this is the most tense period since the conclusion of the Cold War. Unfortunately, all conflicts going on in the world are targeting one direction, which comes forward with the danger of the world becoming divided into blocks again. This is a very dangerous phenomenon. We know it from our own history. We Hungarians have been losers of the period when the world used to be divided into blocks. And we lost 40 years of our lives. And we don't want to be losers again. So therefore, the world to be divided into blocks would be totally against our national interest. But then the question is, what is in line with our national interest? Well, this is connectivity. Connectivity meaning that the international cooperation. The system of international cooperation will come back to the basis of mutual respect. And then the global economy will offer a mutual benefit for everyone. We Hungarians know that a civilized east to west cooperation is A precondition of the operation of an international economic order which can bring mutual benefits to all parties. And we Hungarians, Mr. Ambassador, can serve as a good example here, given the fact that we are one of the three countries of the world where the all three German premium carmakers are present and they have attracted the major Chinese suppliers to our country. And in Hungary, the Russian state owned Rosatom is constructing a new nuclear power plant. But the major subcontractors are German and French companies. So these success stories in Hungary on the field of nuclear, a German, French, Russian cooperation, and on the field of automotive industry, a German, Chinese cooperation, show very clearly to what extent we can enjoy benefits in case there is a civilized east to west cooperation. And we Hungarians, Mr. Ambassador, will always argue in favor of east to west cooperation. We will always argue in favor of connectivity. We will always argue in favor of common sense. And we will always argue against artificial barriers hindering international economic cooperation. And we do believe that east to west cooperation, connectivity and common sense are absolutely necessary in order to be able to create an inclusive international economic order which is beneficial and advantageous for all of us. Thank you very much. ECOSOC · Chair [3:45:04]: I thank the Minister of Foreign affairs and Trade of Hungary for his statement. And I now give the floor To His Excellency Mr. Eduard Bisimana, Minister of Foreign Affairs, Regional Integration and Development Cooperation of Burundi. You have the floor, sir. His Excellency Mr. Ruben Dario Molina, Vice Minister of Multilateral affairs of Venezuela. You have the floor, sir. Venezuela (Bolivarian Republic of) · Vice Minister of Multilateral Affairs · Ruben Dario Molina [3:46:05]: Thank you, Chairman. Good afternoon, Mr. Chairman. Venezuela welcomes the convening of this summit which reflects the urgent need to strengthen. Strengthen truly inclusive and effective multilateralism to confront the crises that the global economic system is confronting. There are still structural inequalities. The exploitation of natural resources of developing countries and in our case, the application of criminal unilateral correspondent measures that are a direct threat to the achievement of sustainable development. It is unacceptable. It's essential for new financing conditions that include the reform of the international financial architecture as well as developed countries sharing their historic responsibility. This includes increasing official development aid and move towards a more democratic, just and inclusive international order where international relations become more democratic, including in the decision making of the Bretton woods institutions. In this context, south south cooperation is a strategic instrument that should be promoted with other regional organizations such as Petro Caribbean and alba, which show how regional integration can be a driver for the development of our people. Mr. Chairman, let us we also take this opportunity to denounce the attempts to undermine international trade system using trade wars and illegal application of Coercive measures that affect the daily lives of people and undermine the right to development of over two thirds of humanity. We demand their immediate lifting, unconditional lifting. In spite of this aggression, Venezuela has shown continued economic growth through its own efforts, demonstrating the capacity of our own people and our inclusive polities. But I repeat, as long as there are hegemonic practices of international institutions such as IMF that do not give us access to special drawing rights, the Global south will continue to suffer from a crisis that we did not cause. We reiterate our commitment to the 2030 Agenda and are in favor of the unity of the Global South. Only through solidarity and inclusive multilateralism will we achieve an inclusive and sustainable economic growth. Thank you. I thank the Vice Minister of Multilateral affairs of Venezuela for his statement and and I now give the floor to His Excellency, Ms. Berish Ekenci, Deputy Minister at the Ministry of Foreign affairs of Turkey. Thank you very much, Excellencies. At the outset, I wish to express our sincere appreciation to the United nations and to Secretary General Guterres for convening this biennial summit for the first time. Türkiye · Deputy Minister at the Ministry of Foreign Affairs · Berish Ekenci [3:49:22]: It comes at a critical juncture as we seek to unite multilateral efforts for a sustainable, inclusive and resilient global economy. This summit provides a valuable platform to renew our shared commitments to the SDGs. Yet, nearly a decade since the adoption of the 2030 Agenda, the world remains far off track. With only five years left, the gap between ambition and reality is widening. The combined effects of climate change, deepening inequalities, escalating conflicts and geopolitical tensions are eroding development gains. Many countries are trapped by record debt burdens. While an estimated $4 trillion annual financing gap severely constrains global progress. The devastating war in Gaza has further illustrated the fragility of development, reversing the case of progress in a matter of months. Distinguished representatives these interlocking crises cannot be addressed with outdated tools. They require innovative approaches. Strengthen solidarity and above all, reform of the global financial architecture. Reform is indispensable to mobilize the scale scale of financing needed for sustainable development. Turkey is actively contributing to these global efforts. As one of the world's largest humanitarian donors, we provide substantial support to countries in need through our Development Cooperation, South South Partnerships and the work of the UN Technology bank for Least developed countries. Hosted in Turkey, we seek to to strengthen resilience and promote inclusive growth. Our initiatives in renewable energy, disaster response and digital transformation also demonstrate our commitment to advancing both national and global SDG implementation. The outcome of the Fourth International Conference on Financing for Development proved that solidarity and unity are possible. We must now translate that momentum into concrete action. Turkey will continue to champion multilateralism and stands ready to work with all partners for a sustainable, just and resilient future. Thank you. ECOSOC · Chair [3:51:53]: I thank the Deputy Minister at the Ministry of Foreign affairs of Turkey for her statement. And finally, I give the floor to His Excellency Mr. Eduard Bizimana, Minister of Foreign Affairs, Regional Integration and Development Cooperation of Burundi. You have the floor, sir. Burundi · Minister of Foreign Affairs, Regional Integration and Development Cooperation · Eduard Bizimana [3:52:21]: Thank you, Mr. President. Michelle aux President. Mr. President, Burundi is profoundly grateful to the Secretary General of the United nations for organizing this first biennial summit for a sustainable, inclusive and resilient global economy and for his constant commitment to multilateralism renewed based on solidarity and efficiency. This summit is happening at a pivotal moment when the whole world has to confront economic problems without precedent. Step back in financing the impact of climate change. It's imperative that with translate our commitments into specific action. Specifically with regard to financing sustainable development goals. Burundi welcomes the results of the fourth International Conference on Financing for Development held in Seville and calls for a rigorous follow up mechanism to implement the commitments taken there. The time of promises is over. We have to move to action. We have to act. Excellencies, ladies and gentlemen. For Burundi, Which with Portugal adopted co chairmanship of the process, financing of development can only be effective if it's aligned with national priorities, respect for of the needs of states and conceived in the spirit of equitable partnership. Our country has a vision up until 2060 involving structural changes, social inclusion and climatic resilience. In spite of the international endeavors, access to financing remains limited. Burund has a number of developing countries. Demands a profound reform of the international financial architecture to make it fair, transparent and more representative. Investment in domestic development strengthened by capacity building and institutional strengthening adapted to the needs of the most vulnerable states. The microphone has been cut off. So. ECOSOC · Chair [3:56:20]: I want to thank Minister of Foreign Affairs Regional Integration and Development of Burundi for his statement. And I now would like to give the floor to Her Excellency Madame Najda Said Abdallah, General Commissioner of Planning of the Comoros. You have the floor. Merci, Mr. President. Thank you. Comoros · General Commissioner of Planning · Najda Said Abdallah [3:56:47]: Excellencies, ladies and gentlemen. The Union of Camorras would like to commend the organizers of this biennial summit for having put this topic at the heart of our discussions. At a time when the world is experiencing succession of economic, climatic and geopolitical crises that undermines multilateralism and solidarity. Humankind is experiencing a period of uncertainty, terrible conflicts and this reminds us how how important peace is for development. We therefore like to make a solemn appeal for an immediate ceasefire and return to diplomacy, because without peace there can be no shared prosperity or a sustainable future. At the same time, protectionist trends are resurging, characterized by an increase in tariff and and customs barriers. This logic of withdrawing into themselves is particularly damaging to developing countries, already fragile, already undermined by reduction of official development aid. For our country, small island developing country that is exposed to exogenous shocks and climate shocks, development aid is a question of survival. Survival. In partnership with the Bretton woods institutions and our bilateral and multilateral partners, since 2020 we have started implementing the emerging Comoras 2030 plan, which seeks to put our islands on path of growth, sustainable growth. This ambition is achievable, but is threatened by reduction of external financing and our fragile macroeconomic situation. In this context, a collective effort is necessary for concrete pledges and commitments that respond to the priorities of our country, such as strengthening mobilization of domestic resources in order to reduce our excessive dependence on external aid. Second, the easing or possible canceling of external debt for the most vulnerable countries to to allow countries to finance their national priorities. 3. Increasing use of innovative financing, including climate financing, carbon credits and other such instruments. And lastly, support for diversification of our economies by bolstering traditional sectors, by supporting ecotourism and creating sustainable jobs for our youth. Your Excellencies, ladies and gentlemen. Financing for development can no longer be approached as a promise, but rather a demand for justice, equity and solidarity. It's in this context that the Union of Comoros intends to implement our national strategy with the support of its partners, in order to contribute to building a global economy. The microphone is switched off. ECOSOC · Chair [3:59:52]: I thank the Commissioner General for Planification of the Comoros for her declaration. Zimbabwe · Minister of Finance, Economic Development and Investment Promotion [4:00:04]: And I now give the floor To His Excellency, Mr. Of Finance, Economic Development and Investment Promotion of Zimbabwe. You have the floor, sir. Excellencies, distinguished delegates, I thank The Secretary General, Ms. Antonio Gutierrez, for convening this timely summit on implementing our shared commitments for the 2030 Agenda for Sustainable Development. We meet not only to tax talk, but to act with clarity of purpose and a sense of urgency. Earlier this year In Savill, the Fourth International Conference on Financing for Development FFD4 reminded us that the business as usual cannot close the staggering US$4 trillion gap financing gap for SDGs Zimbabwe therefore welcomes the severe commitments call to reform the international financial architecture to make it more equitable, development oriented and responsive to the needs of the global South. For Zimbabwe, the this is not an abstract debate. Debt distress constrains our ability to invest in health, education and climate resilience. We look forward to the intergovernmental process mandated in Sevilla to advance debt sustainability, even as we pursue our own debt restructuring and areas clearance program. Therefore, these efforts can place our economy on a path of macroeconomic stability and inclusive growth. Sevilla also reinforced the awaza, a program of action for landlocked developing countries with this proposal for an infrastructure investment and financing facility for a land linked nation like Zimbabwe. High transport costs and inadequate infrastructure remain major barriers for trade and industrialization. In response, we are upgrading key highways, border posts and airports, an ambitious program that can be greatly strengthened by the early establishment of this global facility. Our collective responsibility, your Excellencies, is to ensure that the commitments we have undertaken are translated into concrete actions that bring meaningful improvements to the lives of our peoples. The reform of the global financial architecture and the development of a resilient infrastructure are not acts of benevolence, but collective endeavors grounded in fairness, mutual benefit and shared responsibility and prosperity. Zimbabwe stands ready to engage constructively with all partners so that multilateral pledges serve as a foundation for an even higher ambition. Let us therefore advance together with unity of purpose and steadfast resolve to achieve sustainable development and enduring prosperity for all. I thank you. ECOSOC · Chair [4:02:57]: I thank the Le Ministre de Zimbabwe Personne Intervention. I thank the Minister of Zimbabwe for his statement and I now give the floor to His Excellency Mr. Robert Abisogormanian, Deputy Minister of Foreign affairs of Armenia. Please. Thank you, Mr. President, Excellencies, ladies and gentlemen. This meeting is a timely opportunity to reflect on our commitments made at the FFD4 and to translate the overarching vision of the Compromiso de Sevilla into concrete actions. Armenia · Deputy Minister of Foreign Affairs · Robert Abisogormanian [4:03:44]: We meet at a moment when the global financing gap for the SDGS has reached unprecedented levels, with shrinking ODA debt distress and limited resources available to the most vulnerable. As a landlocked developing country, Armenia experiences firsthand the persistent constraints of limited access to global markets and supply chains, high transit costs and infrastructure bottlenecks. We also recognize vulnerabilities that are not reflected in income averages, but that have real consequences for resilience and long term development prospects. In this vein, Armenia advocates for reform of international financial architecture to make it more inclusive, representative and effective. This requires stronger voice and participation for developing countries, enhanced transparency and accountability, and financing instruments that respond to vulnerabilities and income level. The international financial institutions need to expand their lending capacity, broaden access to concessional finance based on multidimensional criteria and align their operations with the development aspirations of developing countries, accessible, sustainable and affordable financing, the introduction of innovative financing instruments and the reduction of earmark funding will be essential to harness the potential of green growth, digital transformation, as well as equitable and inclusive connectivity. The reformed international financial architecture must support reliable and resilient infrastructure, stronger regional integration and policies that foster diversification, innovation and broader access to global markets. Mr. President, Armenia is committed to working with all partners to ensure the full implementation of the outcome of FFD4. We hope that this biennial summit will serve as a catalyst for more coherent, predictable and equitable international cooperation. We believe that through collective action, anchored in solidarity, partnership and shared sense of responsibility, we can accelerate the implementation of the 2030 Agenda for Sustainable development. I thank you. ECOSOC · Chair [4:06:03]: I thank the Deputy Minister of Foreign affairs of Armenia for the statement. And I now give the floor to His Excellency, Mr. Alberto Van Claveren, Minister of Foreign affairs of Chile. You have the floor, sir. Thank you very much. Chile · Minister of Foreign Affairs · Alberto Van Claveren [4:06:26]: Chair Excelencias, your Excellencies, distinguished delegates. It's an honor to participate in this first biennial summit for a sustainable global economy that is inclusive and resilient for Chile. This meeting is not a continuity of the commitments reached in Seville, but it also opens a broader and sustained sustained dialogue on the reform of the international financial architecture and its coherence with the 2030 Agenda. This architecture, designed in another historical context, no longer sufficiently responds to the needs of the 21st century. Today, we are confronting unsustainable levels of indebtedness, insufficiency of climate financing and persistent incident asymmetry in the mobilization of resources. These inequalities limit our collective progress and threaten the fulfillment of the Sustainable Development Goals. To confront these challenges, Chile believes that reforms must be implemented that based on clear principles. First of all, to endow developing countries with a more effective voice, including middle income countries. Their structural vulnerabilities are not always reflected in criteria for access to financing. Secondly, it's important to have international financial institutions that are more flexible, capable of accelerating debt restructuring, expand concessional financing and promote innovative instruments such as climate action debt swaps. And thirdly, ensure true coordination between various platforms and forums, so that the United nations, international financial institutions and the G20 can act in a complementary way with the clear leadership of ecosoc. This debate is not abstract for our country. We are a middle income country with an open and integrated economy, but in which we still have very deep, very significant gaps. This is why we have promoted a policy of social cohesion as a driver of stability, promoting gender equality and expanding access to social protection. Chile reaffirms its commitment to effective and inclusive multilateralism that puts international cooperation at the service of the common good. Working together, we can build a global architecture that is capable of responding to the challenges of our time and and fulfill the promise of leaving no one behind. Thank you very much. G24 · Director; Head of Secretariat · Yabo Masha [4:09:16]: I thank the Minister of Foreign affairs of Chile. And I now give the floor to Ms. Yabo Masha, Director and head of of the Secretariat of the intergovernmental group of 24. You have the floor, madam. Thank you very much, Mr. Chairman. Today we face a different world, and as such, stronger multilateral cooperation is needed to finance the 2030 Agenda. The pandemic revealed global vulnerabilities and uneven causes in uneven responses. While rising geopolitical tensions and interest rates have heightened risk for developing countries, many face debt distress, slow restructuring, trade disputes and declining aid, putting development funding for the risk. The Sevilla commitment marks a key step aiming to close a 4 trillion annual SDG gap, triple development MDB lending by 2035, double domestic resource mobilization reaching at least 15% tax to GDP ratio, uphold the 0.7% ODA target and introduce new debt tools and a revised SDR framework. Yet these goals are challenged by unclear SDG funding plans, slow MDB reforms, struggling economies, unmet ODA promises and weak accountability, risking a repeat of past unfulfilled commitments and insufficient development progress. What we need now is action. We must make commitments time bound and measurable, backed by transparent monitoring and annual reporting. Debt reform should be predictable and fair, with all creditors, including the private sector, at the table, and wider use of state contingent clauses to help countries manage shocks. Climate finance must be truly new and additional, scaled up in line with the urgency of the challenge and closely linked to development priorities. And above all, equity must be at the heart of this agenda, with Global south helping to design solutions, not just implementing them. If we can strengthen the Sevilla commitment in these ways, we will turn it from a declaration of intent into a credible platform for financing the 2030 Agenda and ensuring that no country is left behind. Thank you very much. Cambodia · Secretary of State, Ministry of Foreign Affairs and International Cooperation · Fadif Khan [4:12:15]: I thank the Director and Head of the Secretary of the intergovernmental group of 24 for the statement. And I now give the floor To His Excellency Mr. Fadif Khan, Secretary of State, Ministry of Foreign affairs and International Cooperation of Cambodia. You have the floor, Sir. Thank you, Mr. President. Distinguished delegate at the outset, allow me to express Cambodian deep appreciation to you, Mr. President, for convening this historical first banner summit. This gathering takes place at a moment when the Global Economy is under immense strain marked by rising protectionists, widening fracturementations and intensifying geopolitical rivalry that threaten multilateral corporations. It is again this challenging time that we need to reinforce collaboration among multilateral institutions and collectively foot a stronger, more network and inclusive global economic governance system. This is our best part to accelerate the implementation of the 2030 Agenda for Sustainable development. In this regard, Cambodian reaffirmed its unwavering commitment to the 2030 Agenda which is deeply embedded in our national development strategy. Guided by Pentagona Strategy Phase 1 and its proceeding framework, we are industrializing, diversifying our economy and deepening our integration into global market to ensure sustainable, inclusive and resilient growth. Thanks to sustainable peace and sound policies, Cambodians make remarkable progress. We are now firmly on track to graduate from LGC status by 29 and aim to become a high income country by 2050. However, as a small developing nation, Cambodia remains vulnerable to external economic stock. With your permission, Cambodia would like to share three key proposals. First, strengthening domestic resource mobilization is essential for fostering sustainable development, but many developing countries face capacity constraint. Cambodia therefore call on development partners to scale up technical assistance and capacity building effort. Second, enhancing coordination between the United nations and international financing instit institution is critical in optimizing an impact of development financing. Third, continued reform of the global financing architecture is vital. Cambodian support an inclusive, fair and equitable system that address structural inequality and expand concessional financing for LGC and graduating country to ensure smooth and transition. Cabo Verde · Vice Minister of Foreign Affairs and Cooperation · Miriam Vieira [4:15:52]: I thank the Secretary of State, Ministry of Foreign affairs and International Cooperation of Cambodia for the statement and I now give the floor To Her Excellency Ms. Miriam Vieira, Vice Minister of Foreign affairs and Cooperation of Cabo Verde. You have the floor, madam. Thank you, Mr. President, Excellencies, distinguished delegates at the outset I would like to thank you for convening this first biennial summit for sustainable, inclusive and resilient global economy in a timely fashion manner. After the adoption of the for the future. We all aware that there is a pressing need to undertake bold actions in order to cause a paradigm shift towards a sustainable, inclusive and resilient global economy where all stakeholders have an important role to play. Last year we have committed to undertake Action 48 which calls for the acceleration of the reform of international financing and architecture to strengthen the voice and representation of developing countries. The most recent poly crisis shed light on the need for substantial measures so we can build a more fair international financial architecture. Cabo Verde stressed the urgent need to reform the international financial architecture. Today's global governance remains disproportionately shaped while vulnerable states continue to face high financing costs, limited fiscal space and recurring debt distress, a more inclusive, representative and network system is required, one that reflects the realities of the 21st century and ensures fair access to resources for all. This year during the Sevilla Conference Conference on Financing for Development, Cabo Verde reiterates the need to improve and enhance the very fundamentals of international cooperation so we can effectively deliver. Cabo Verde believes that a more effective development cooperation requires a stronger international financial system that fits for purpose and able to address the 21st century challenges considering the main concerns of of the countries in special situations such as small island developing States. A transformative global governance that can positively impact and lead countries to achieve sustainable development and inclusive economic growth only will be possible if you can tackle the bottlenecks and take into consideration real development needs of countries, mainly those facing multiple vulnerabilities. In this connection, Cabo Verde calls for a proper use of the MVI by the relevant financial actors, the IFIs and MDBs so countries can have a fair access to finance tools to better implement their national development strategies. By doing so, we believe we will encompass the principle of leaving no one behind as a way for a more inclusive and inclusive equitable financing architecture. I thank you for your kind attention. Bahrain · Assistant Under Secretary for Sustainable Development · Dana Ahmed Hamza [4:19:16]: I thank the Vice Minister of Foreign affairs and Cooperation Caboverde for the statement and I now give the floor To Her Excellency Ms. Dana Ahmed Hamza, Assistant Under Secretary for Sustainable Development, Ministry of Sustainable Development of Bahrain, you have the floor. Madam Excellencies, distinguished delegates, it is an honor to be here at this historic first ever biennial summit convened a year after the adoption of the Pact for the Future which is a timely reminder of our shared responsibility to strengthen global cooperation to deliver financing for development and ensure data driven and innovative solutions guide global progress for sustainable development. Just a few months since the 4th International Conference on Financing for Development in Sevilla, Spain and the adoption of the Compromiso de Sevilla which called on countries to scale up innovative, inclusive and forward looking financing solutions. I am pleased to share with you today that the Kingdom of Bahrain has already advanced the implementation of this vision through its commitment to open data, inclusive digital finance and a broader strategy for technology enabled and research driven sustainable development. Our economic vision 2030 has guided Bahrain towards a knowledge driven finance led economy. Today financial services contribute the largest share to GDP supported by a dynamic fintech sector that broadens access and opportunity. SMEs are central to this transformation, representing 93% of all enterprises by empowering women, youth through specialized financing schemes and Digital Skills Training, Bahrain demonstrates how inclusive financing drives sustainable growth, fosters innovation and creates opportunity. Data is also central to this implementation. Bahrain continues to modernize its statistical systems in collaboration with the un, the IMF and the World bank, ensuring strategies are guided by evidence, transparency and accountability. Beyond data, Bahrain advances inclusive digital finance by creating a pioneering regulatory sandbox for fintech and leveraging its Cloud first policy to build a scalable digital infrastructure that expands access to underserved segments and embeds financial inclusion and financial health at the courts of agenda. With a strong regulatory environment such as our first in the region Open Banking Framework, we enable technology driven solutions to thrive and deliver real impact. Excellencies as His Royal Highness Prince Salman Bin Hamad Al Khalifa, the Crown Prince and Prime Minister stated at the 79th UN General assembly, it is imperative that like minded countries come together with the objective of revitalizing, adapting and renewing our institutions to effectively address today's significant challenges. It is in this space that Bahrain remains committed to working with you all. This platform is therefore a timely opportunity to translate commitments into action, ensuring that sustainable financing keeps pace with the challenges and opportunities of the 21st century. As the global community moves forward with a beyond GDP agenda, we support the call for more comprehensive ways to measure progress centered on sustainability, fairness and human well being. Thank you. V20 · Secretary-General · Mohammed Nasheed [4:22:40]: I thank the Assistant Under Secretary for Sustainable Development of Bahrain for the statement and I now give the floor to His Excellency Mr. Mohammed Nasheed, Secretary General of the vulnerable 20 group. You have the floor, Sir. Thank you, Excellency. The Climate Vulnerable Forum the V20 represents 1.74 billion of the world's poorest people in 74 climate vulnerable nations. Together we are advancing Climate Prosperity Plans to translate development priorities, sector strategies and nationally determined contributions and long term strategies in into actionable pathways. The Climate Prosperity Plans are more than just roadmaps. They are multi phase strategies that integrate investment, technology access and knowledge transfer, uniting development, climate and nature into a single framework for resilience and prosperity. But ambition at home must be matched by by reforms internationally. To achieve the SDGs and protect the most vulnerable, global governance must evolve. We urge recognition of the CVF V20 as an observer at the United nations and for formal intergovernmental status at the IMF and the World Bank. We call on the G7, G20 and BRICS to support climate Prosperity Plans and call on countries to update NDCs in line with 1.5 degrees. This can help us understand the choices we have to make today and what the choices the youth will inherit tomorrow at COP30, we call for an adaptation package that delivers predictable finance, technology and capacity support at scale. Given the immense imminence of breaching 1.5, debt relief and liquidity are essential. Relief must reflect climate and development investment needs and SDRs must expand. MDBs and DFIs must scale concessional finance below GDP growth rates, backed by by guarantees and blended instruments. A permanent debt resolution mechanism must be established with debt service suspended until restructuring is secured. To conclude, debt sustainability is not austerity. It's an investment in resilience and the capacity to withstand climate shocks. Debt is not just about what is old, it is about what is possible. Thank you. Russian Federation · Deputy Foreign Minister · Sergei Vershinin [4:25:49]: Of the V20 for the statement and I now give the floor To His Excellency Mr. Sergei Vershinin, Deputy Foreign Minister of the Russian Federation. You have the floor, sir. Thank you very much, Mr. President. We welcome the initiative of holding this summit in the context of a serious lack of the international community in its work toward the Sustainable development goals by 2030. As was discussed in detail at the World Forum on Sustainable Development on Sustainable Development in July, the efforts of member states of the UN, including the G20, should contribute toward this work for the sustainable development agenda by 2030 as a roadmap for all countries to follow. Of particular importance is the outcome document of the fourth International Conference on Sustaining on Financing for Development held in Seville. This El Compromiso de Sevi is not faultless, but provides a good basis for this work. In the context of tectonic shifts in the world economy, one needs bold measures to overcome the fragmentation of global trade. Tariff wars, volatility of financial markets, chronic inequality between the north and south in this economic, social and technological spheres. Unfortunately, at present we see a return to neo colonialist practices and trade wars. Illegitimate unilateral sanctions introduced by various countries, contrived political pretexts as well as grabbing other countries assets. De facto robbery undermines the stability of markets and it's good to realize that an increasing number of countries understands what's actually happening. When we see unilateral coercive measures against Russia and others, real needs must be met, especially on the African continent. A fundamental principle is respect for the sovereign policy of developing countries in distribution of international resources without any climate change, gender, human rights or other artificial superstructures or pretexts. We'd like to reaffirm Russia's commitment to financing for sustainable development. We're prepared for further constructive dialogue and interaction with all countries based on respect for the national priorities and sovereignty of states. Russian Federation is a reliable partner. The microphone has been cut off. ECOSOC · Chair [4:29:18]: I thank the Deputy Foreign Minister of the Russian Federation for the statement. And I now give the floor to His Excellency Mr. Takeshi Akahori, Senior Deputy Minister for Foreign affairs of Japan. You have the floor, sir. Japan · Senior Deputy Minister for Foreign Affairs · Takeshi Akahori [4:29:49]: Thank you, Mr. President. The international community is facing multiple interlinked crises. Progress toward achieving the SDGs has fallen seriously behind. Now is the time for our countries to overcome division and confrontation and to advance together toward the common goal of achieving the SDGs. With this recognition, Japan will continue to promote multilateralism, upholding the concept of human security, focusing on each individual, protecting them from fear and want, respecting their dignity and enabling them to realize their rich potential. All this embodies the SDG score no one left behind. All of us here must take responsibility and work together to realize truly effective global governance. In this context, Japan has been actively working in the following three areas and will continue to prioritize them. First, coordination with international financial institutions. Japan has actively engaged in discussions on their governance reform to strengthen the representation and voice of developing countries. We have also called on MDBs to conduct the Capital Adequacy Framework Review and develop innovative financial institutions, while contributing ourselves by establishing credit enhancement frameworks and using SDRs. In doing so, we stress the need to respect the governance and distinct features of MDBs, and we value their own reform efforts. Second, further mobilizing both domestic and private finance to meet the enormous financing needs. This year, Japan amended the JICA Act. This amendment has enabled JICA to subscribe to bonds issued by private companies in developing countries and provide credit by private companies guaranteeing for a portfolio of loans extended by local financial institutions to local entities, thereby promoting private finance. Third, addressing debt issues. Lending practices that ignore debt sustainability hinder sustainable development. Japan has been playing a leading role in improving implementation of the G20 Common Framework and enhancing debt transparency. We also provide training and expertise to strengthen debt management capacities. Through JICA and international organizations, Japan reaffirms the strong commitment to the SDGs under the concept of human security. I thank you, Senior Deputy Minister for Foreign affairs of Japan. And I now give the floor To His Excellency, Mr. C.B. george, Secretary the Minister of Foreign affairs of India. You have the floor, sir. India · Secretary, Ministry of External Affairs · C.B. George [4:32:40]: Excellencies, Mr. Secretary General, distinguished colleagues, I thank the Secretary General for convening the first biennial summit on a sustainable, inclusive and resilient global economy. With only five years left to achieve the 2030 Agenda, this summit comes at a critical moment as the global SDG financing gap now exceeds 4 trillion annually Excellencies India brings to this discussion the perspective of both a major emerging economy and a steadfast voice of the global South. As a member of the G20 troika 2023, 2025, India has placed development and financing for the SDGs at the center of global economic governance. Under India's presidency, the African Union was welcomed as a permanent member of the G20, reflecting our conviction that global governance must be more representative and inclusive. India is also a major partner in the multilateral development banks, advocating reforms to make them bigger, better and more effective. We support scaling up MDB balance sheets, promoting concessional and blended finance and expanding the use of innovative instruments such as sustainability linked bonds, blended guarantees, among others. These reforms echo the commitments made at the 4th International Conference on Financing for Development and we must now ensure timely implementation. At the same time, troubling global trends cannot be overlooked. Official development assistance is declining while defence budget continue to rise. This shift diverse scarce resources and political focus away from sustainable development, undermining solidarity at the very moment it is most needed. India's own experience demonstrates that ambition matched with scale can deliver results. Lifting over 400 million people out of multidimensional poverty, expanding renewable energy at record pace and deploying digital public infrastructure for inclusion excellencies. India believes multilateralism must deliver tangible benefits for the most vulnerable. Strengthening coherence across institutions and ensuring that developing countries priorities are at the center of multilateral decision making is essential above all, financing sustainable development must be at the heart of our collective efforts if we are to keep the promise of 2030 and agenda. Thank you. I thank the Secretary at the Ministry of External affairs of India for the statement. I now give the floor to His Excellency Mr. Hugo Francisco Rivera Fernandez, Vice Minister for Economic affairs and International Cooperation of the Dominican Republic. You have the floor, sir. Thank you, Excellency. Dominican Republic · Vice Minister for Economic Affairs and International Cooperation · Hugo Francisco Rivera Fernandez [4:35:59]: On behalf of the Dominican Republic, who has the honor of being Vice President of the ecosoc, I would like to greet you at this first biennial summit on. The Dominican Republic is a country that has been growing for the past 10 years at a rate of 3 to 5% and is the main beneficiary of foreign investment in the Caribbean. Even despite our economic achievements, it's very. It's almost impossible or difficult to. Obtain financing for SDGs. The domestic problems of each country, reduction of aid to many countries here and the growing geopolitical tensions have a cost will complicate even further to achieve financing for development. This forum, which is designed in the framework for the Pact for the Future and after the advances of the fourth conference for Finance and for development gives us an opportunity to cooperate and to move forward on the commitments undertaken and move towards a new global architecture. In this situation, the Dominican Republic wishes to focus on three pillars. First of all, the debt. The combination of debt with the challenges of sustainable development. Given that it's very difficult that a country can overcome its sub development. Secondly, the global financial architecture. The architecture does not allow developing countries to achieve development. And this without a doubt is a topic that cannot be postponed by multilateral organizations. Thirdly, mobilization of resources and access to technologies and digital technologies in particular. Very few underdeveloped countries have the funds to develop in technology and to gain access to this new digital world. We want to also say that a country such as the Dominican Republican island in the Caribbean that lives off of tourism every day we we confront natural phenomena that were not envisioned in the past. Just now we're facing this problem of climate change and the sargassum, the seaweed that are invader, are our beaches. And we have to assume the costs of this. So we need an international financial system that is more just. And you can always count on the Dominican Republic to cooperate and work on the topics that we're discussing here. Thank you very much. ECOSOC · Chair [4:38:51]: I thank the Vice Minister for Economic affairs and International Cooperation of the Dominican Republic for the statement. Slovakia · State Secretary · Radomir Salitros [4:39:02]: I now give the floor to His Excellency, Mr. Radomir Salitros, state Secretary of the Ministry of Fore Investment and Formatization and Regional Development of Slovakia. You have the floor, sir. Thank you, Mr. President, Excellencies and distinguished colleagues. Colleagues, Slovakia welcomes this biennial summit as a timely platform to advance our shared commitment to financing the Sustainable Development goals. Achieving the 17 goals requires not only more resources, but smarter and more fair ways to mobilize and use them. For Slovakia, multilateral cooperation is the cornerstone of sustainable and inclusive development. Strong global partnerships and coordinated action are proven instruments for reducing disparities, fostering innovation and enabling green and digital transformation. Preserving and strengthening these cooperative frameworks is essential if we want to ensure the that no region and no citizen is left behind. We also believe in the importance of balance. Reforms and investments must go hand in hand and smaller states and regions must have a fair access to financial resources. Synergies between the SDGS and European policies, especially in regional development, digitalization and the green transition, are key to accelerating progress. At the same time, effective financing requires clear, simple and predictable rules that allow countries and regions to plan with confidence. Mechanisms should avoid unnecessary bureaucracy and fragmentation. And they must respect the specific Economic, social and territorial conditions of each country. Only then can financial instruments truly reach communities and deliver the maximum impact. Slovakia stands ready to work with all partners to close the financing gap, to strengthen international cooperation and to invest in in reducing inequalities between countries, but also within them. Together, we can make the 2030 Agenda a reality. Thank you, State Secretary of the Ministry of Oil Investment and Formatization and Regional Development of Slovakia, for the statement. And I now give the floor To His Excellency, Mr. Noel Kaganda, Ambassador and Director of Multilateral Cooperation, Ministry of Foreign affairs and East African Cooperation of the United Republic of Tanzania. You have the floor, Sir. Thank you, Mr. Vice President, President's Excellencies, distinguished delegates. Tanzania welcomes the timely convening of this biennial summit. United Republic of Tanzania · Ambassador; Director of Multilateral Cooperation · Noel Kaganda [4:42:38]: We are approximately five years away from the completion of the SDGs, yet we are far off track. It is imperative, therefore, that we collectively identify practical, action oriented and innovative solutions to make progress. We need to act decisively to ensure affordable and scalable financing. Developed countries need financing that is predictable, low cost and concessional, allowing us to invest in critical sectors without failing. Deeper into debt, we need rechannelling, special drawing rights. Unused SDRs must be directed to countries that need them most, particularly in Africa, to unlock economic potential and supports national development priorities. Just and accessible climate financing is also essential. International funds should be simpler to access and come with fewer bureaucratic hurdles. This is essential to scale up adaptation, renewable energy and disaster resilience projects which are critical for sustainable growth. Excellencies, ladies and gentlemen, Tanzania welcomes the commitments made at the 4th International Conference on Financing for Development in Seville, which provide a framework for developing countries to leverage international support efficiently and achieving measurable results. And if implemented, these commitments could increase access to affordable financing for developing countries, reduce debt pressure by creating more favorable loan conditions, and support sustainable development initiatives including health, education, infrastructure and clean energy. Ladies and gentlemen, this meeting must go beyond dialogue. The world needs a financial system that is fair, inclusive and action driven. One that considers the realities of of developing countries, eases debt burdens and makes financial truly effective. Tanzania stands ready to work with the UN and international financial institutions and all other partners to ensure there is reduction in debt pressure and restructuring of burdensome loans. Financing is more predictable and concessional. International support is strong, translated into tangible development outcomes and others. We are confident that through partnership, decisive action and fair financing, we can achieve sustainable development that leaves no one behind. And I thank you. GCF · Chief Strategy and Impact Officer · Charles Erhardt [4:45:31]: For the statement and now give the floor to Mr. Charles Erhardt, Chief Strategy and Impact Officer of the Green Climate Fund, you have the floor, sir. Excellencies, colleagues, distinguished participants, we meet today to take stock course, correct and re energize our collective efforts to enable sustainable, resilient and inclusive development at the speed and scale required. Despite formidable challenges, momentum is building. From Sevilla to Belem, we now have a blueprint to close the SDG financing gap. The Green Climate Fund is proud to play its part not only as the world's largest multilateral climate fund, but also as a force for systemic transformation. Our work demonstrates that climate finance, when well designed, can accelerate the entire 2030 agenda, from clean energy to food and water security, gender equality and the revitalization of marine and terrestrial ecosystems. Under our 50 by 30 vision, we aim to commit 50 billion to transformative climate action by 2030 and mobilize far greater flows by 2035, directly contributing to the new collective climate finance goal. Three imperatives guide us in this work. First, matching finance to developing countries fiscal realities. The GCF channels 68% of its adaptation finance in grants to LDCs, SIDS and African states, including fragile and conflict vulnerable countries. Second, easing access to and accelerating climate finance flows. We now have more than 150 accredited partners, 2/3 of which are developing country entities. This number continues to grow as we make it easier and faster to become accredited whilst maintaining standards. Meanwhile, we are reducing the time we take to move funding proposals from concept note to board approval to just nine months. Third, innovating from local currency facilities in India to adaptation for debt swaps. The GCF is pioneering new financial instruments in tune with developing country priorities. Excellencies, colleagues. The GCF reaffirms its commitment to delivering climate impact with a broad range of SDG co benefits, Aligning our next replenishment with the new collective goals and moving from talk about trillions to building a global architecture that delivers trillions equitably and at speed. Thank you. Germany · State Secretary · Niels Annan [4:48:41]: I thank Mr. Charles Erhart for the statement and I now give the floor To His Excellency Mr. Niels Annan, State Secretary of the Federal Ministry of Economic Cooperation and Development of Germany. You have the floor, sir. Thank you very much, Excellencies. Ladies and gentlemen. Ten years ago, the world adopted the 2030 Agenda as our shared vision for sustainable development. There are some glimmers of hope, but overall we know that we are very far away from reaching our objectives. And we know that structural adjustments in the multilateral systems are needed to turn this vision into reality. The Pact for the Future is the compass for the reform of the multilateral system with the United nations at its heart, a system that is more integrated and able to support us in jointly implementing the 2030 Agenda. Germany proudly co facilitated this landmark agreement together with Namibia. Today's summit is a crucial outcome of the PACT and a first step to better integrate the work of the UN and the IFIS. With the Pact and the UN 80 initiative targeting the working methods and structures of the UN itself, we have a true moment of opportunity. The FFD4 conference in Seville was another milestone where we have found new momentum for multilateralism built on global solidarity as a world community. We have agreed to the FFD4 outcome document which is key to mobilizing resources for achieving the 2030 Agenda. Germany, your colleagues, stands ready to move this agenda forward and take a leading role in forging strong alliances. First, together we have identified important levers for closing the development financing gap. Germany remains committed to supporting domestic revenue mobilization and combating tax evasion. We stand firmly behind the ADDIS tax initiative and support the Seville Declaration on drm. And the private sector holds enormous potential for mobilizing more resources. With Scaled an initiative for scaling capital for sustainable development, Germany and its partners have taken the lead to enhance international cooperation on blended finance. Also, we support an international financial architecture defined by responsibility and participation where the voice of the poorest countries continues to be strengthened, including in IFIs such as the World bank and the IMF to close. While we stand at a challenging juncture as international partners, I am convinced that we can build on our common ground and carry the momentum from Seville forward. Thank you very much, Chair. I thank the State Secretary of the Federal Ministry for Economic Cooperation and Development of Germany for the statement. I now give the floor to His Excellency, Mr. Dennis Moncada Colindres, Minister of Foreign affairs of Nicaragua. You have the floor, sir. ECOSOC · Chair [4:52:09]: Thank you, Nicaragua · Minister of Foreign Affairs · Dennis Moncada Colindres [4:52:13]: Chairman. Nicaragua welcomes this first biennial summit that is taking place in the 80th during the 80th session of the General Assembly. For Nicaragua, financing of development is a topic of international justice and equity. Pledges made must be translated into real, accessible and timely resources for for developing countries. We cannot accept that commitments become simply a rhetorical exercise while our peoples confront growing economic and social challenges. We reiterate with firmness that to implement the SDGs it's important to lift unjust, unilateral corresponding measures which are an illegal measure slave slowing the development of our countries, limiting finance access to financing. They are an obstacle to trade and are an assault against entire peoples. This practice violates international law and must be eliminated to ensure the full development of our peoples. Nicaragua recognizes that this biennial summit is an opportunity to strengthen multilateral cooperation and to align the international financial system on the priorities of the 2030 Agenda. Only an inclusive, democratic and multilateralism, respectful of the sovereignty of states, will make it possible to transform commitments into tangible realities for the countries of the global South. Our appeal is clear. We need more just financing mechanisms that recognize the vulnerabilities of developing countries, that release concessional resources and that lessen the burden of unsustainable debt. At the same time, it's essential to ensure the effective participation of all states in global financial decision making without any exclusions or political conditioning. Lastly, Mr. Chairman Nicaragu reaffirms its commitment to the 2030 Agenda and to an international system where cooperation prevails over confrontation and where youth and future generations inherit a world that is more just, more sustainable, more resilient, free from aggression, blockades or unilateral coercive measures. A peaceful world. Thank you very much. Kenya · Principal Secretary · Susan Manjani [4:54:52]: I thank the Minister of Foreign affairs of Nicaragua for the statement and I now give the floor To Her Excellency, Ms. Susan Manjani, Principal Secretary of Kenya. You have the floor, Madam. Excellencies, distinguished delegates. The first biannual summit on a sustainable, inclusive and resilient global economy comes at a time of profound global transformation, when developing countries continue to shoulder the disproportionate burden of debt distress, climate shocks and declining external resources. The financing gap for SDGs, which currently exceeds US$4 trillion annually, represents presents a glaring mismatch between global ambition and available resources, further exhibiting the pressure on nations to deliver on their goals. For Kenya, like many other African economies, the financing gap has translated into constrained physical space, rising debt service obligation and limited room for investment in the very sectors that underpin resilience, that is health, education, climate adaptation and infrastructure. Kenya therefore underscores how urgent it is to implement MONTA and evaluate past international commitments made in Monterey, Doha, Addis Ababa and most recently the fourth International Conference on Financing for Development held in Seville, Spain. Kenya calls for bold action that combines scaled up official development assistance, predictable climate financing flows and innovative financing instruments such as blended finance, diaspora bonds and sovereign green insurance. Kenya has embraced public private partnership and domestic resources mobilization reforms to expand physical space. Moreover, we are strengthening our data and monitoring architecture to generate timely, disaggregated and reliable data for SDG tracking, thus enhancing transparency and accountability. Kenya, therefore once supports the call by the group of 77 and change China for reform of International Monetary Fund to strengthen the Global Financial Safety Net 2 calls for predictable scaled up concessional financing complemented by private sector investments. South to south cooperation and knowledge partnership. Kenya reiterates the agency of establishing a fair, timely and inclusive debt restructuring mechanism that restores sustainability while safeguarding debt development spending and supports the call for rejection of unilateral coercive measures that undermine the sovereign capacity of developing countries to pursue development pathways consistent with their national priorities. The biannual summit must therefore serve as a turning point. A forum that galvanizes collective resolve, democratizes economic governance and delivers the resources policies placed to achieve a better world for all. I submit and I thank you. Cuba · Vice Minister of Foreign Affairs · Anayanci Rodriguez Cameron [4:57:58]: I thank the Principal Secretary of Kenya for the statement and I now give the floor to His Excellency. To Her Excellency Mr. Anayanci Rodriguez Cameron, Vice Minister of Foreign affairs of Cuba. You have the floor, Madam. Gracias, Senor. Thank you, Chairman. Today we meet in the context of multiple crises. Crises that are a symptom of a global economic system that has prioritized short term growth over the well being of the planet and humankind. In the face of this reality and the need to build a truly sustainable, inclusive and resilient economy, this is not ideal, some kind of idealistic goal. It is a necessity. In this context, we welcome this first biennial summit as a forum that seeks a more just economic global governance prioritizing the dignity of peoples. Five years from the deadline to achieve the SDGs, the process is alarmingly slow. The suffocating burden of the debt is forcing developing countries to divert essential resources needed for their development. Unilateral coercive measures such as the blockade imposed by the United States against Cuba are an assault against entire populations, representing an obstacle for the purchase of medication and foodstuffs. And the climate crisis is worsening and is threatening the very existence of life on the planet. To achieve a sustainable, inclusive and resilient economy, we must fulfill what we agreed on in the 2030 Agenda today. It is unfortunately on the path of not being implemented. It's important to make a reality all the multilateral agreements such as the Civil Commitment. This requires substantial and unconditional resources for developing countries, access to technology in depth reform of the international financial architecture and a just solution to the debt crisis. Facing this reality, the question is not if we need to change, but if we have the political will to do this quickly enough and at the scale necessary. We must decisively move towards a sustainable global economy, inclusive and resilient. Cuba reiterates its commitment to south south cooperation and regional integration. At the in the 80th anniversary of the United nations, we reaffirm that a better world is possible. It's urgent and must be achieved. Thank you very Slovenia · Director General for Multilateral Affairs · Bojena Forsnari Boroje [5:00:53]: much. I thank the Vice Minister for Foreign affairs of Cuba for the statement and I now give the floor To Her Excellency, Ms. Bojena Forsnari Boroje, Director General for Multilateral affairs at the Ministry of Foreign affairs of Slovenia. You have the floor, madam. Thank you, Mr. Chair. Dear Excellencies, the outcomes of the Fourth International Conference on Financing for Development offer a new platform for multilateral cooperation at a time of global tensions and persistent development challenges. As international community remains seriously off track in its efforts to achieve the Sustainable development goals by 2030, we urgently need to mobilize resources and reform our global financial system. We must scale up all sources of financing, public and private, domestic and international, and ensure that they are better aligned with SDGs. Moreover, it is vital to address systematic challenges. Slovenia supports stronger international cooperation on taxation, transparency and the fundamental fight against illicit financial flows. We advocate for continued reforms of international financial institutions to make them more inclusive, responsive and effective, while safeguarding their mandates and accountability. Enhancing the presentation of developing countries remain essential in achieving the SDGs. We must recognize the specific needs and vulnerabilities of developing countries. To this end, Slovenia sufficient towards a country led approach rooted in international ownership and accountability. National strategies and integrated national financing frameworks should be developed through whole of government coordination and inclusive dialogue, especially with civil society. Slovenia believes that capacity building plays a crucial role in this regard. As already for 25 years, Ljubljana based international organization center of Excellence in Finance has supported countries in Southeast and Eastern Europe with training, knowledge exchange and technical assistance in public financing, management and central banking. These efforts reinforce domestic resources mobilization, contribute to the more equitable fiscal systems and thus strengthening their economies. We must also ensure that countries in special situations, including least developed countries, landlocked developing countries, countries and small other developing countries and states have access to adequate and predictable financing. In that regard, Slovenia supports ongoing work on the Multi Dimensional Vulnerability Index. Human rights and SDG Agenda 2030 are mutually reinforced. By promoting human rights, we lay the foundation for inclusive, peaceful and sustainable development. Women and girls in particular remain disproportionately affected by poverty, unpaid care, work and exclusion from economic opportunity. Slovenia therefore welcomes the commitment to mainstream a gender perspective and promote gender responsive solutions across the Financing for Development agenda. In all that, achieving our shared goals depends on effective cooperation among all of US countries on building trust and on strengthening partnership. In this regard, the civil conference provider, the new momentum for multilateral action, and it is now time to deliver on these commitments. Thank you. ECOSOC · Chair [5:04:31]: I thank the Director General for Multilateral affairs of Slovenia for the statement. And I now give the floor To Her Excellency, Ms. Minister of Finance and Development Planning of Lesotho. You have the floor, Madam. Lesotho · Minister of Finance and Development Planning [5:04:57]: Thank you, Chairman. On behalf of the Kingdom of Lesotho, I extend our gratitude to the nation, to the United nations and all partners for convening this critical dialogue at such a pivotal moment in our collective journey towards achieving the 2030 Agenda for Sustainable Development. The theme for this summit, Implementing Commitments on Financing Development, resonates deeply with the challenges and opportunities we face as a global community. Financing sustainable development is not merely a technical issue. It is a moral imperative that underpins our shared vision of a world free from poverty, inequality and environmental degradation. As we take stock of the commitments made at the 4th International Conference on Financing for Development and other forums, progress has been uneven. For many developing countries, including Lesotho, the gap between ambition and implementation remains wide. Additionally, we must prioritize the implementation of FFD4 outcomes by integrating the severe outcomes, particularly the expanded INF facility and the global financing playbook into ongoing and upcoming national development strategies, emphasizing implementation over mere policy alignment. Furthermore, we must address systemic barriers, explore a diversified suite of innovative financing instruments, including diaspora bonds, blended finance and outcome based financing models, and ensure that no country is left behind in our pursuit for sustainable development. This summit provides a unique platform to elevate the financing agenda to the highest level. We commend the efforts to foster inclusive dialogue between heads of state, multilateral institutions and other stakeholders. Such collaboration is essential to strengthen the links between the United nations, international financial institutions and global economic governance structures. Lesotho reaffirms his commitment to multilateralism as the cornerstone of our collective action efforts. We believe that enhanced cooperation among multilateral institutions is critical in addressing the pressing economic challenges of our time, from climate change to global inequality. We also underscore the importance of inclusive participation, ensuring that the voices of small and developing countries are heard and respected in shaping global economic policies. We therefore commit to proactively engage in global policy processes such as COP 30, the G20 Finance Track and the African Union Agenda 2063 Financing Mechanisms to elevate Lesotho's voice and attract strategic partnerships. In conclusion, let us seize this opportunity to translate our commitments into concrete actions. Let us work together to build a global economy that is not only sustainable and resilient, but also inclusive, one that uplifts the most vulnerable and leaves no one behind. Thank you. Saudi Arabia · Minister of Economy and Planning · Faisal Ben Fadil Ibrahim [5:08:28]: I thank the Minister of Finance and Development Planning of Lesotho for the statement. And I now give the floor To His Excellency, Mr. Faisal Ben Fadil Ibrahim, Minister of Economy and Planning of the Kingdom of Saudi Arabia. You have the floor, sir. Thank you, Mr. Chair. Esteemed attendees. Peace, mercy and blessings of God be upon you. It is my pleasure to be here representing King Salman Bin Abdul Aziz. May God protect him. We are here to renew our commitment to effective coordination at a time when the fraternal Palestinian people are suffering under occupation and crises are expanding in an unprecedented pace. This tells us that peace and justice cannot be separated from development. Despite knowing this fact, 3 billion people are living in countries that spend more on debts than they do on development. And many of these countries suffer suffocating debt crises. Such countries do not receive what they need, despite the fact that millions of trillions of dollars flow in the markets every day. Today, Mr. Chair, we see great frustration that the solutions are separated from the needs in reality. We believe through our Vision 2030 that clear development is not accomplished through slogans, but through a clear, effective approach that focuses on scalability, evidence based solutions, and as a result, we have worked to ensure that financial efforts support diversity and the participation of the private sector in order to create more opportunities while diverting opportunities through specific instruments to enhance social results and outcomes. We are focusing on economic models that support people with limited incomes and support productivity and access to basic services and others. We have the Green Financing Framework that was recently launched. We also consider social protection as a priority. Therefore, social protection networks have become catalysts in order to better take advantage of opportunities and to advance. These principles are in line with the approach adopted in Seville. This is in order to achieve the aspire development and development nevertheless requires balance and international obligations must heed the specificities of national priorities and we must build upon existing mechanisms so that multilateral action is in support of the priorities of each state, not a replacement for such priorities. Mr. Chair, despite the fact that the development agenda has provided a number of roadmaps over the past two decades, many states still do not receive funding and without funding, there's no point. In many of these efforts, we give great importance to approaches and models that have a clear basis and are based in evidence. Therefore, we believe it is important to adjust every two years and to assess what we have achieved. The future generations will not remember the number of meetings we have held or the number of summits we have held. These generations will remember what we have failed to achieve for them. Thank you. ECOSOC · Chair [5:12:27]: I thank the Minister of Economy and Planning of Saudi Arabia. For the statement. I now give the floor to To His Excellency Mr. Anthony Simpson, Deputy Permanent Representative of New Zealand to the United Nations. You have the floor, sir. New Zealand · Deputy Permanent Representative · Anthony Simpson [5:12:52]: Thank you, Chair. New Zealand remains committed to the 2030 Agenda and to full achievement of the Sustainable Development Goals. The adoption of the Compromiso di Sevilla earlier this year year reaffirmed the enduring importance of the multilateral development agenda and our collective commitment to financing for sustainable development. Given the growing challenges facing the multilateral development system, New Zealand believes that FFD4 must also serve as a catalyst for reform of both the development financing architecture and the broader multilateral system. FFD4 must also incentivise countries willing to undertake bold domestic reform reforms to accelerate progress towards sustainable development. Ensuring scarce concessional resources are deployed strategically to unlock more substantial sources of domestic and private finance that can close the SDG financing gap will be a key test of the compromiso's success. At a time of fiscal constraint, we recognise that generating finance is just one part of the equation. We reiterate the fundamental need to optimise the impact of financing flows already in place. This entails reducing inefficiencies and fragmentation, as well as fostering good governance, building strong institutions and robust fiscal systems, and addressing the high cost of inequalities. The context today is very different from 10 years ago when FFD 3 was held in Addis, let alone 1945 when the UN was founded. We must therefore seize the opportunity provided by UN80 to make the UN development system more coherent, more responsive and more focused on results. At a time of growing global divisions and constrained resources, we must sharpen our focus on what the UN is uniquely positioned to deliver, particularly its vital role in advancing universal rules and norms. Then, in a world of increasingly scarce resources, we must take a holistic approach to international development finance, recognising the role of other institutions, avoiding duplication of mandate data coordination across existing platforms. Rather than seeking to centralise everything in the un, today's meeting represents a useful step towards achieving a more coordinated and coherent approach. New Zealand also remains firmly committed to gender equality and the empowerment of women and girls. We reaffirm that inclusive development is central to building a safe, secure and just world, so that all people, no matter their background, can thrive. Finally, we join others in welcoming the progress made in developing practical tools to reflect the vulnerability of states, particularly small island developing states, in development policy and decisions. And we encourage all development actors to consider adopting these in their work. Mr. President, FFD 4 is a test of our collective resolve. We must be ambitious while setting ourselves achievable goals to take us forward. New Zealand will continue working with all partners to translate the compromiso into realistic, meaningful and lasting impact. Especially for those most at risk of being left behind. I thank you. ECOSOC · Chair [5:16:00]: I thank the Deputy Permanent Representative of New Zealand for the statement. And I now give the floor to Her Excellency Jayanta Jayasuriya. Oh, excuse me. To Her Excellency, Ms. Elizabeth Sondergaard Kron, State Secretary for Development Policy of Denmark. You have the floor, Madam. Denmark · State Secretary for Development Policy · Elizabeth Sondergaard Kron [5:16:31]: Thank you very much, Excellencies, UN representatives, ministers and high level representatives. Let me start by thanking the UN for convening this summit and for their excellent and tireless work on this important issue. The importance of the Sevilla commitment cannot be overstated. FFD4 provided a once in a generation opportunity to set the direction for how we want to move the global development architecture forward as multilateral partners. It was a victory for multilateralism and it demonstrates that multilateralism delivers. And let me just repeat that, that multilateralism delivers. It was also important step following up on the Pact for the Future, through which. Through which all UN member states have agreed to intensify efforts to achieve the Sustainable Development Goals. In June, Denmark published a new strategy for Development Cooperation. The strategy reaffirms Denmark's commitment to the UN target of allocating 0.7% of GNI for ODA, a commitment that Denmark has upheld for more than 45 years. We hope that others will join this much too small club of countries. But as the Sevilla commitment clearly states, official development assistance alone will not cover the immense financing gap. Accordingly, Denmark is working to unlock other financing streams, including the following three. First, we continue to push for reform of the international financial architecture and of the multilateral development banks to mobilize more climate and development financing to developing countries. Second, we are developing new guarantee instruments, including through our development finance institution, Impact Fund Denmark, to unlock and mobilize more funds from the private sector. Third, we support developing countries in increasing their domestic resources through the strengthening of fair, progressive and transparent tax administration and policies. The Sevilla commitment sets the direction for the financing piece needed to deliver on the SDGs. So let's not lose momentum and let's work together in partnership. Thank you. I thank the State Secretary for Development Policy of Denmark for the statement. And now give the floor To Her Excellency, Ms. Carla Lovera, Minister of Finance of Mozambique. You have the floor. Mozambique · Minister of Finance · Carla Lovera [5:19:09]: Your Excellency. Distinguished heads of states and government, esteemed leaders of multilateral institutions. Ladies and gentlemen, it is a great honor on behalf of the Government of the Republic of Mozambique to participate in this first biennial Summit for sustainable, inclusive and resilient global economy. We commend the UN Secretary General for his vision and leadership in establishing this high level space for dialogue on financing the Sustainable Development Goals. In recent years, Mozambique, like many developing countries, has faced multiple shocks such as the wasting cyclones Idai, Kennedy and Freddie, rising budgetary pressures and high debt service costs. Despite those challenges, we remain committed to implementing 2030 Agenda and to creating the conditions for inclusive, resilient and sustainable growth. This commitment requires financing that is adequate, predictable and accessible. We recognize the progress achieved at the 4th International Conference on Financing for Development. Yet we also acknowledge that significant gaps persist. This biennial summit is therefore a unique opportunity to move from words to actions, reinforcing implementation of the commitments undertaken and accelerating the mobilization of resources. Mozambique advocates for a fair and more inclusive international financial equity architecture, one that amplifies the voice of developing countries, improves debt restructuring mechanism, lowers financing costs and creates space for innovative instruments such as debt for climate swaps, parametric catastrophe insurance and resilient finance mechanisms. These solutions enable us to create fiscal space for productive investment possible, protect the most vulnerable and pursue sustainable and inclusive growth. We also call for more balanced partnerships among multilateral development banks, the private sector and the beneficiary countries to accelerate investments in transformative infrastructure, railways, renewable energy, digital systems and the human capital that powers our development. Excellencies. This BIEN Summit is not merely a forum for reviewing commitments. It is a milestone in collective action. It reaffirms that success of 2030 Agenda depends on the multilateralism that is more supportive, effective and representative. As a Signatory to the 2030 Agenda for Sustainable Development, Mozambique stands ready to work with all partners here to translate commitments into concrete results for the benefits of our people and the planet we share. Thank you for your attention. ECOSOC · Chair [5:22:32]: I thank the Minister of Finance of Mozambique for the statement. France · Minister Delegate for Francophonie and International Partnerships · Tani Mohammed Soilihi [5:22:42]: I would also like to call upon His Excellency Mr. Tani Mohammed Soilihi, Minister Delegate for Francophonie and International Partnerships of France. You have the floor, Sir. Thank you, Mr. President, Excellencies, ladies and gentlemen, leaders of international organizations, colleagues, I'd like to welcome the organization of this first summit. A year after adopting the Pact for the Future and two months after the fourth Conference for Financing Development in Seville. This is a valuable moment for our commitment to take shape. A joint ambition animates us accelerate our work for the 2030 Sustainable Development Agenda. Five years remain, 35% of the Sustainable development goals are on the way to being implemented. This is encouraging, but far from sufficient. Everywhere the triple global crisis threatens our mode of life, increases and deepens economic and social vulnerabilities and undermines our capacity to live in dignity. We have to face up to the challenge. International financial architecture must be rethought. The Pact for the Future is about the prosperity of all people of the nation. Today, 73 countries of all continents have demonstrated their commitment to acting. This community is based on a strong fight poverty, preserve the planet. And each country will adopt its own strategy toward our common objectives. To finance these transitions, innovative solutions are needed in the private and public sector, internationally and domestically. We should unblock the channels for global contributions based on solidarity to help the most vulnerable. This work, also at the national level, has to do with reforming our partnership policy and at the European level, more ambitious agenda targeting assistance to the most vulnerable countries. France will work in this vein. As president of G7, we must redouble our efforts in avoiding duplication and fragmentation in the work of this international organization. The year 2026 will also be an occasion to start the reform of the Committee on Development Assistance in ocd. To make it more efficient and in line with the current competing challenges and needs, we encourage informal and more representative discussions. President Macron has stated on many occasions that France welcomes these changes and is ready to work with all those who assume responsibility. Together, we will live up to our promises. Finance sustainable development is not a secondary ambition. It's a cynical non condition for peace and stability around the world. Thank you. Sri Lanka · Permanent Representative · Jayanta Jayasuria [5:26:21]: I thank the Minister Delegate for Francophoni and International Partnership of France. I now give the floor To His Excellency, Mr. Jayanta Jayasuria, Permanent Representative Sri Lanka to the United Nations. You have the floor. Thank you. Chair, Excellencies, I am honoured to address this inaugural biennial summit convened under the mandate of the Pact for the Future. The Pact and its annexes, the Global Digital Compact and the Declaration on Future Generations, set out an ambitious vision to confront global challenges. However, its success will depend on our collective resolve to turn commitments into action. Sri Lanka, as you are aware, has made significant progress in recovering from the debt crisis. The government has undertaken a strong national reform program together with measures to mitigate its impact on the more vulnerable segments of the population. However, debt servicing costs threaten to drain resources from critical sectors such as health, education and climate adaptation in the coming years. Sri Lanka's experience demonstrates that resilience cannot rest on domestic action alone. It requires a fairer international financial system. Sri Lanka supports advancing the civil compromise with priorities such as establishing a global debt data registry, extending debt treatments to middle income countries, scaling up innovative debt instruments and debt service suspension in times of disaster. These measures would help turn short term recovery into lasting development. At the same time, we wish to support the call for developed countries to meet in full the long standing commitment to allocate 0.7% of global cross national income to official development assistance if we are to bridge persistent financing gaps for the SDGs. Due to the growing frequency of extreme weather events and climate related disasters, food security and sustainable agriculture remains a central priority For Sri Lanka. Adopting resilient farming methods such as efficient water management and soil conservation is vital to safeguard farm farmers livelihoods and protect crop yields. However, these efforts cannot succeed without sustained climate financing. For Sri Lanka and other climate vulnerable countries, access to instruments such as green bonds and debt sops is essential to channel investment into agriculture and adaptation. Sri Lanka sees the operationalizing of fund responding to loss and damage and as a positive step. But the funding gap between pledges and growing needs of countries are of concern. It is vital that climate financing be recognized as distinct from development financing so that neither comes at the expense of the other Excellencies. While technological advancement offers unprecedented opportunities, it simultaneously threatens to deepen existing divides. Bridging the digital divide is essential of sustainable development. Sri Lanka recalls and reasserts the call for a need for a global fund on AI and emerging technologies for sustainable development in the context of the global Digital Compact. Technology must drive education, health, climate action and decent work. Uplifting communities and dividing sustainable driving sustainable development. I thank you. Austria · Special Envoy for Global Affairs · Peter Lowmsky [5:30:08]: I thank the Permanent Representative of Sri Lanka for his statement and I now give the floor To His Excellency Mr. Peter Lowmsky, Special Envoy for Global affairs of the Federal Chancellor of Austria. You have the floor, Sir. Thank you, Mr. President, Honorable Ministers Excellencies, dear colleagues, As a representative of a comparatively small, militarily neutral and landlocked country, we cannot stress enough that multilateralism and partnership on equal terms embedded in a rule based international order remain the best means of addressing shared global challenges. The Fourth Conference on Financing for Development and the Compromiso de Sevilla have just recently proven that multilateralism can deliver. It paved the way for an ambitious outcome document that will guide our work for the decade to come. While Austria is committed to deliver on our promises and to contribute our share of international development assistance, the financing gap can only be closed by mobilizing all available types of sources, be they public or private, be they national and international. It is private business and finance that will go the distance and provide decent jobs. Further economic transformation Mobilize financing for investments and ultimately create domestic revenue and make the significant difference in the people's lives that we strive for. In order to harness this potential, we need to create a favorable enabling environment including the rule of law, good governance and anti corruption measures, enhanced transparency, investor and consumer protection and fair competition. We need to acknowledge the risks posed by the rise of conflicts around the world and at the same time, the important role multilateral development banks and the IMF play in financing the SDGs and in safeguarding financial stability. Much progress has already been made in reforming the international financial system. Austria also recognizes, however, that further reforms are needed building on existing achievements and we are ready to constructively engage in the appropriate decision making bodies of these international financial institutions. Moving forward, it's crucial to safeguard their triple A rating, long term financial sustainability and preferred creditor status. Austria will continue to support MDBs in their efforts to work better. Excellencies, Austria stands ready to take on responsibility and to take our work forward. Thank you. ECOSOC · Chair [5:33:39]: I thank the Special Envoy for Global affairs of the Federal Chancellor of Austria. I now give the floor to Her Excellency. Australia · Deputy Secretary, Department of Foreign Affairs and Trade · Jamie Spister [5:33:53]: To His Excellency, Mr. Jamie Spister, Deputy Secretary, Department of Foreign affairs and Trade, Australia. You have the floor, sir. President Excellency's distinguished participants. It's an honour to speak today on Australia's commitment to realising the 2030 Agenda for the Sustainable Development and the Sustainable Development Goals. We meet amid global disruption, climate change, rising debt, shrinking development budgets and unprecedented challenges to the UN that are all placing immense pressure on our collective sustainable development efforts. Yet we also meet with renewed purpose following the adoption of the Seville Commitment at the fourth UN International Conference for Financing for Development. Australia strongly supports this commitment. It provides a practical roadmap to strengthen the global development financing system and deliver real results for countries and communities. We are proud to have championed priorities reflected in the commitment. Climate resilient debt clauses, disaster risk financing, inclusive development and a fairer access to concessional finance. We also want to see greater uptake of the Multidimensional Vulnerability Index. This has been critical in identifying the unique vulnerabilities countries, including small island development States face who are on the front line of climate crisis. But what matters is the implementation. Australia is maximising the impact of every development dollar we provide. We are proud to work with diverse partners through the Global Partnership for Effective Development Cooperation. We're also embedding development effectiveness principles and country ownership into our partnerships. We're also committed to greater Transparency Communicating results Australia's development finance portfolio now exceeds $9 billion, including concessional loans, blended finance and equity investments. Many of these are through our mechanisms, the Australian Infrastructure Financing Facility for the Pacific and the newly established Southeast Asia Investment Financing Facility. These are focused on mobilising private capital for infrastructure, climate resilience and inclusive growth. We have a responsibility to help shape a more equitable future for our region as a committed partner and reliable, predictable neighbour. We are focused on locally led solutions and strengthening regional institutions. We are working with emerging donors and multilateral partners to improve coordination and the transparency of the development assistance we provide. Australia stands ready to work with all partners to implement the Seville commitment, reform the multital development system and help build a more inclusive and resilient future for all. Thank you. Italian Agency for Development Cooperation · Director General · Marco Ricardo Rusconi [5:37:03]: I thank the Deputy Secretary, Department of Foreign affairs and Trade of Australia. I now give the floor to His Excellency Mr. Marco Ricardo Rusconi, Director of the Italian Agency for Development Cooperation. You have the floor, Sir. Thank you, Mr. Chair and good afternoon, Excellencies and distinguished participants. First of all, I would like to thank Secretary General Antonio Guterres for organizing this first edition of this biennial summit. In this very symbolic year marking the 80th anniversary of the United nations, issues such as poverty, climate change, food insecurity and social inequalities keep on affecting the conditions of the most vulnerable people. In several countries across the world, there is still an intolerable trade off between skyrocketing debt services and funding for public education and health. We have to increase fiscal space allowing reaching Everywhere all the SDGs. We also need to improve the ability in each country to mobilize domestic resources. Mr. Chair, we commend the results of the fourth conference on financing for Development of Sevilla. Italy participated in the negotiations that brought to the adoption of the Compromiso de Sevilla with an open and constructive spirit. Not only responding to the call for renewed effort towards financing sustainable development, we brought to Seville two new initiatives. First, consistently with the Matei Plan for Africa, Italy launched a bilateral debt for development swap initiative for all African countries indebted to Italy. In the next decade we will convert in sustainable development funding 100% of the debt service of African least developed countries and 50% of debt of Africa middle income countries. Second, in Sevilla, Italy, together with the OECD, launched an international Call to action aimed at reinforcing capacities in the public finance sector to mobilize untapped domestic resources and to fight against illicit financial flows. We believe that these two initiatives are pragmatic and effective and we invite others to join our efforts. Mr. Chair, you can rest assured that in relevant fora we will keep a very constructive attitude to help improving the governance of the multilateral financial system. The Pact for the Future adopted last year contains useful recommendations to address today's and future challenges. In this perspective, Italy is ready to contribute transforming those recommendations to into practical actions. Thank you. ECOSOC · Chair [5:40:19]: I thank the Director General of the Italian Agency for Development Cooperation for the statement. Oman · Foreign Minister · Saeed Badr Ben Hammoud Al Busaidi [5:40:29]: I now give the floor To His Excellency Mr. Saeed Badr Ben Hammad. Ben Hammoud Al Busaidi, Foreign Minister of the Sultanate of Oman. You have the floor, sir. Thank you. Thank you, Mr. Chair. Dear colleagues and distinguished participants, it is an honor for me to represent my country, Oman here at this inaugural summit. At a moment when cooperation and joint action are more important than ever. I'm confident that through collaboration we can shape a global economic future that is more sustainable, resilient and just. The Sustainable Development Goals are central pillar of Oman Vision 2040 and this vision outlines the roadmap for social and economic progress placing environmental protection at its core. It reflects our firm belief that environmental sustainability is the foundation of a resilient economy. Oman's National Committee for the Follow up of the Sustainable Development Goals embodies sustainability concepts in all of our objective policies. It serves as an integrated as an important and integrated governance mechanisms to strengthen coordination towards the SDGs. In 2024, Oman presented his second voluntary national review before the High Level Political Forum and this review shows that we have achieved 14 of the 17 SDGs with a completion rate of more than 82%. It demonstrates the tangible progress Oman is making towards the 2030 agenda. Oman also reaffirms its goal of achieving carbon neutrality by 2050. We have been expanding renewable energy and hydrogen production while promoting practices related to the Green Circular and blue economies. These efforts support environmental protection and reinforce economic resilience in the face of climate change. In recognition of the difficulties we face, including the global financing gap for achieving the Sustainable Development Goals, the Sultanate of Oman has launched pioneering initiatives to diversify income sources away from hydrocarbons. In 2021, we established the Oman a Sustainable Future Initiative initiative and this focuses on SDG 14 and 15 relating to life below water and terrestrial ecosystems. We launched the Oman Future Fund to drive economic activity and attract investment in green energy, sustainable tourism, fisheries and agriculture. And in July, the Oman Investment Authority set up the Energy Transition Fund to accelerate the global shift towards clean energy on a national and a global level. We face immense challenges. Fulfilling our commitments will require US to elevate our solidarity domestically, regionally and internationally. Oman undertakes to continue to achieve and leverage his partnerships with all countries in alignment with our foreign policy principles, peace, coexistence, tolerance, dialogue and mutual understanding. Thank you very much, Mr. Chair. ADB · Principal Partnership Specialist · Allen Burgess [5:45:02]: I thank the Foreign Minister of Oman for the statement. I now give the floor to Mr. Allen Burgess, principal Partnership Specialist of the Asian Development Bank. You have the floor, sir. Thank you, Chair, Excellencies, distinguished delegates. The Asian Development Bank's vision, as outlined in the Strategy 2030 midterm review, emphasizes private sector development, climate action, regional cooperation and public goods, digital transformation and resilience and empowerment. Today's summit focuses on implementing commitments on financing the SDGs, and we are proud to outline five key initiatives that will drive our efforts forward. These include, number one, the implementation of a new capital adequacy framework, increasing our annual lending capacity by 50% from $24 billion in 2024 to US$36 billion by 2034. Second, an ambitious target of mobilizing US$13 billion of private capital annually by 2030, bolstering mobilization through enhanced credit insurance partnerships and blended finance platforms, and contributing to joint MDB efforts to refine mobilization methodologies and improve credit risk data. Third, through our Asian Pacific Tax Hub, the mainstreaming of domestic resource mobilization across country programs and projects, and expanding technical assistance and policy based lending to support sequenced tax reforms. Fourth, a continuous optimization of the use of our concessional resources, including through our Asian Development grant fund. And fifth, an updated ambition to reach $40 billion in food security investment by 2030. As we've heard from previous speakers, the multilateral development banks individually and collectively play a pivotal role in aligning international financing efforts. The Asian Development bank will continue to work to, in coordination and collaboration with our development partners and alongside our developing member countries in Asia and the Pacific to achieve growth that is inclusive, resilient and sustainable. Thank you. ECOSOC · Chair [5:47:56]: I thank Mr. Alain Borghes from Asian Development bank for the statement. I now give the floor To Her Excellency, Ms. Pascal Grotenhuts, Vice Minister for International Cooperation of the Netherlands. You have the floor, Madam. Thank you, Chair. Your Excellencies. Netherlands (Kingdom of the) · Vice Minister for International Cooperation · Pascal Grotenhuts [5:48:22]: Dear colleagues, the Secretary General has urged us to be agents of peace, and that call is now more urgent than ever. In the last five years, multiple shocks have slowed or even reversed Progress on the 2030 Agenda. The SDG financing cap has now widened to over $4 trillion a year. Conflicts are at a record high, debt distress is spreading, and resources to address these crises are shrinking. These challenges are far too great. For any single institution to solve on its own. And that is why today's summit really matters. It brings together the strengths of the United nations, international financial institutions and the G20. The UN contributes legitimacy, political foresight and global convening power. The IFI's brings skill, instruments and financial credibility. And the G20 adds political momentum and and coordination among the world's largest economies. However, cooperation between these institutions is still too often ad hoc. And in order to address today's crisis, this must change. The Kingdom of the Netherlands believes we need three key shifts. First, we must renew our commitment to multilateralism. That means upholding the UN Charter and the three pillars of peace and security, sustainable development and human rights, because these remain the foundation of an effective global system. Second, we must move from short term projects to long term engagement. Peace and prosperity requires decades of effort. And durable peace is achieved only through sustained international commitments. That's where instruments such as IDAs 21 multiple cycle approach and PBF's flexibility truly shine. They help us focus on long term investments to tackle today's toughest challenges. And thirdly, we must strengthen genuine partnerships with local actors. National ownership cannot mean that government ownership alone. We need the participation of everyone in society in fragile and climate vulnerable regions. We need local knowledge for both climate and adaptation and conflict prevention. And that is why the UN 80 reforms coinciding with the MDB capital reforms is a once in a generation opportunity. Today's summit should not just take stock of commitments. It should mark the start of a new era. One where the UN and the IFI's come together as a single team working as one, building on each other's strengths and mandates. And if we seize this moment, we can bring real life changing progress to billions of people who urgently need it. Thank you. Greece · Deputy Minister of Foreign Affairs · Harry Teoharis [5:51:27]: I thank the Vice Minister for International Cooperation of the Netherlands for the statement. I now give the floor to to His Excellency, Mr. Harry Teoharis, Deputy Minister of Foreign affairs of Greece. You have the floor, Sir. Excellencies, distinguished colleagues, ladies and gentlemen. It is a profound honor to address this historic first biennial summit for a sustainable, inclusive and resilient global economy. I extend my appreciation to The Secretary General, Mr. Antonio Guterres and to ECOSOC for convening this timely gathering during the high level week of the General Assembly. We meet at a decisive moment. Our world is still grappling with the lasting consequences of the pandemic, the disruptions in global supply chains, climate related crises and new geopolitical tensions. The global economy has shown resilience, but Inequalities remain stark and the financing gap for achieving the SDGs continues to widen. Against this backdrop, Greece believes that this summit must be more than a dialogue. It must become a platform of action, a place where our collective commitments are translated into measurable progress. Greece approaches the discussion with humility, but also with determination. As a member state of the European Union and as a nation with a long tradition of bridging continents and cultures, Greece is committed to strengthening multilateralism that is both effective and inclusive. In this respect, ladies and gentlemen, we see and commit to pursuing three priorities. First, inclusiveness. Economic governance must reflect the perspective of all Member States, large and small. Developed and developing decisions must be transparent, participatory and accountable. Second, financing for sustainable development. We must accelerate efforts to close the financing gap for the SDGs, and this requires innovative partnerships, mobilizing private capital alongside public resources in a blended way, creating stronger risk sharing mechanisms and ensuring fair access to affordable finance for vulnerable economies. Greece stands ready to contribute to initiatives that enhance debt sustainability and support green and digital transitions. Third, resilience through cooperation. Our economies are interconnected. Shocks do not stop at borders. Building resilience demands coordination across regions and institutions. The summit itself represents a new architecture of dialogue, bringing together the United nations, international financial institutions and regional organizations in one shared platform. Excellencies I noted with great interest this morning's discussion. For example, IMF's comments that we need to put our house in order in order to solve the problems of today. Greece knows very well what this means, and I think we are a case in point of the success story that putting your house in order can bring. WTO's comments on revising the rules to ensure that international trade works for all developed and developing. We believe that we should work more closely together to increase international trade and not to decrease it. So, Excellencies, for Greece, economic diplomacy is inseparable from sustainable development. We align our policies with the 2030 Agenda and the Paris Agreement, investing in renewable energy, maritime sustainability, digital infrastructure and innovation ecosystems. At the same time, we advocate for partnerships that extend beyond our borders with the Mediterranean, the Balkans, the Middle East, Africa and beyond. So let us not lose sight of the bigger picture. This summit is not only about governments. It's about trust. Trust among nations, trust between governments and citizens, and trust in our collective ability to deliver a more sustainable and equitable future. Trust that is unfortunately lacking. Greece stands ready to work with all partners here at the United nations and around the globe to ensure that this biennial summit becomes a connoisseur of a new area of cooperation, inclusiveness and resilience. Thank you. ECOSOC · Chair [5:56:30]: I thank the Deputy Minister of Foreign affairs of Greece for the statement. I now give the floor to the Honorable Dananjay Ramful, Minister of Foreign Affairs, Regional Integration and International Trade of Mauritius. You have the floor, Sir. Thank you. Chair, Excellencies, distinguished delegates, Mauritius welcomes the convening of this high level dialogue on financing for development. Mauritius · Minister of Foreign Affairs, Regional Integration and International Trade · Dananjay Ramful [5:57:03]: This gathering could not be more timely as the world faces an unprecedented sustainable development crisis compounded by climate shocks, rising inequalities and constrained fiscal space across many developing economies. Financing challenges are at the very heart of this crisis. Nearly half of the Sustainable Development goal targets are off track. The annual financing gap for achieving the SDGS is now estimated at 4 trillion USD. Meanwhile, debt vulnerabilities have intensified. Current projections indicate that almost 600 million people, more than half of them women, will remain in extreme poverty by 2030. Progress on climate action is also falling dangerously short, with global greenhouse gas emissions still on the rise when rapid and deep reductions are urgently required, these sobering figures remind us that without adequate and accessible financing, the SDGS will remain out of reach. The gap between our aspirations and the resources needed to deliver them is widening. Small island development states like Mauritius in particular face higher cost of capital and significantly worse terms of access to financings. Across the globe, governments are being forced to spend more on debt servicing than on education, health or social protection, undermining the very goals we have pledged to achieve in this context. The fourth International Conference on Financing for Development held in Seville marked a turning point. The 130 high impact initiatives launched in Seville will remain words on paper unless Member States should should walk the talk. The SEBI commitment needs to be translated into concrete action by catalyzing investment at scale, addressing the debt and development crisis and reforming the international financial architecture to make it more inclusive and responsive for Mauritius, a small island development stage. These outcomes resonate strongly. Despite reducing our debt to GDP ratio from 92% in 2021 to 78% in 2024, our fiscal space remains limited. Financing from international partners have fallen short. Meeting our climate ambitions remain a significant challenge. We call on the urgent operationalization of the Multi Dimensional Vulnerability Index, ensuring that access to concessional finance reflects real vulnerabilities rather than income classifications alone. At the same time, Mauritius calls for stronger debt transparency, development oriented restructuring and the use of innovative financing mechanisms such as green bonds, blended finance and debt for climate swaps to unlock resources at scale. The SEVI conference reminded us that multilateral cooperation still matters and should effectively work if we ought to build an equitable and inclusive world. Financing must become the engine of sustainable development, not its greatest barrier. Mauritius stands ready to work with all partners to translate commitments into concrete results, expand fiscal space, strengthen debt sustainability and ensure that the promise of the 2030 Agenda becomes a reality for people, planet and prosperity. Thank you, Chair. Sweden · Minister for Climate and Environment · Romina Pur Horomo Okhtari [6:00:43]: I thank the Minister of Foreign Affairs, Regional Integration and the International Trades of Mauritius for the statement. I now give the floor to Her Excellency Ms. Romina Pur Horomo Okhtari, Minister for Climate and Environment of Sweden. You have the floor, Madam. Thank you so much, Excellencies. Sweden attributes great importance to today's deliberations. The fact that His Majesty King Carl XVI Gustav of Sweden was present during the opening of today's summit is testimony of our commitment. I would also like to take the opportunity to underline that our Crown Princess, Her Royal Highness Victoria, is deeply committed to promoting sustainable development, including in her role as Goodwill Ambassador for the Sustainable Development Goals. Sweden welcomes that broad support could be reached on the ambitious Sevilla commitment at the fourth Conference of Financing for Development earlier this year. This was another milestone to show our joint commitment to renewed global financing framework in support of the SDGs. It demonstrates the strength of multilateralism in a time when we need it most. Despite a challenging geopolitical context, we have moved the needle on the goals we set out in the Addis Ababa Action Agenda and the impactful future. Together with the eu, we are proud to be the world's largest provider of ODA. Sweden is currently one of only four countries globally that allocate over 0.7% of its GNI to development assistance. With declining global levels of ODA and with free trade under pressure, our focus must now be on maximizing ODA results, impact and catalytic potential. We also need to ensure that the toolbox that we have for financing sustainable development is up to date. This includes to continue pushing reforms of the international financial architecture while safeguarding the voice of the most vulnerable countries in our global economy. We welcome the recent steps to improve debt transparency, but more needs to be done. Sweden underlines the importance of a strengthened partnership with the private sector and synergies between private investment, trade and innovation. The green and digital transition are keys in this regard. The expertise and innovative capacity of the business community can help drive the transition globally. Good governance, strong institutions, accountability and freedom from corruption are crucial conditions for sustainable development. Respect for the rule of law, human rights, gender equality, as well as ambitious climate action are also fundamental to eradicating poverty. Building resilient societies and inclusive economies. Our focus must now turn to the implementation of the Sevilla commitment and let me assure you that Sweden remains a dedicated and reliable partner towards this end. Thank you. I thank the Minister for Climate and the Environment of Sweden for the statement. I now give the floor to His Excellency Mr. Cherchai Shaivavid, permanent Representative of Thailand to the United Nations. You have the floor, sir. Thailand · Permanent Representative · Cherchai Shaivavid [6:04:35]: Mr. President, Excellency. Thank you very much. Thailand welcomes the initiative of the United Nations Secretary General and the Pact for the Future in convening today's summit, the very first of its kind. This certainly reaffirms the United nations convening power as a platform for inclusive dialogue. The findings of The SDG Report 2025 and Thailand's Voluntary national review converge on a sovereign reality. Global economic growth continues to fall short and Thailand is facing perhaps the greatest challenge in advancing sdgh. However, we do have a roadmap, the certainly different severe commitment which serves as our guiding principle to reinvigorate progress towards the SDGs. In this regard, this President Thailand wishes to highlight four key approaches. First, promoting green and sustainable innovative financing. The Roatai government encourage greater investment in sustainable stocks through Thailand ESG Environmental, Social and Governance Fund and has so far issued sustainability linked bonds worth over US$3 billion. Second, addressing illicit financial flows and trust transnational organized crimes, particularly online scams. At the national level, Thailand's anti online scam operation center together with commercial banks is intensifying efforts to trust fraudulent money trails and return stolen funds. Thailand calls for urgent coordinated regional and international responses including in particular cooperation among Thailand's neighboring countries to this growing threat. Third, reforming the international financial architecture. This is an urgent need to broaden and strengthen the voice and participation of developing countries in international economic decision making. Thailand is keen to participate prepared in discussion and dialogue on this very important issue. And lastly, forging stronger global partnership. Thailand stands as a bridge builder promoting South, South, north, south and Tranquilla cooperation. Our engagement with partners around the globe and Thailand in particular Thailand. Thailand's ongoing accession process to the OECD underscore our commitment to deepening connections between Southeast Asia and the rest of the world. Regional commissions also have a vital role to play in this regard. Thailand looks forward to the upcoming UNSCAP meeting this November on the implicant on the implications of the fourth International Conference on Financing for Development for the Asia Pacific region. Mr. President, Excellencies, the political view of Member States must be matched by a strong and effective multilateral system. Let us redouble our efforts over the next five years and beyond, to deliver on our chair goals and commitments to our people, our planet and common prosperity. Thank you, Mr. President, for your kind attention. I thank the Permanent Representative of Thailand to the United nations for the statement. Belgium · Vice Minister for Development Cooperation and Humanitarian Affairs · Heidi Ramburt [6:08:54]: I now give the floor to Her Excellency Heidi Ramburt, Vice Minister for Development, Cooperation and Humanitarian affairs of the Kingdom of Belgium. You have the floor. Thank you, Excellence, Excellencies, ladies and gentlemen, it's with a profound sense of responsibility that we welcome the convening of this summit. We are in an environment that is marked by multiplying challenges, climate emergencies, the fight against poverty, conflicts and other unforeseen crises. Given this complex state of affairs, international cooperation must adopt a renewed vision, one that is founded on the promotion and protection of global public goods such as health, climate and stability. And we must look to mutually beneficial partnerships. We must listen to one another and respect one another. Our common goal should be to mobilise a range of means and tools, domestic resources, the dynamism of the private sector, sustainable investment and more agile international cooperation. Such partnerships, founded on shared opportunities and partnerships, must be designed in such a way as to reflect the context, needs and local priorities so that we can build resilient partnerships that are innovative and truly focused on having a sustainable impact. Given the multilateral reforms underway, we are committed to ensuring that every action counts and that every resource we have is used as consistently as possible. We must use the expertise, knowledge that is available. And in order to achieve this, we need better coordination, better complementarity and intelligent streamlining of our efforts. This is essential. We should act with rigour and consistency. Above all, this means doing better with what we already have, so that we can maximize the impact of our collective action on the ground. However, our commitment must above all be a commitment to people, a human one. The fundamental principle of leaving no one behind must guide our action by focusing priorities on concessional means to those who need these most. Lower income countries, fragile contexts and women and children, and all vulnerable populations. That is where we have the obligation for justice and where we have the potential for building a resilient society in solidarity. Ladies and gentlemen, it is time to rethink our forms of cooperation by joining forces and by inviting all of those who have the means to contribute to our common future. By doing so, we will be able to overcome these common challenges with rigor and a sense of responsibility. Let us build together a world where prosperity and dignity are within the reach of all. I thank you. ECOSOC · Chair [6:12:51]: I thank the Vice Minister for Development, Cooperation and Humanitarian affairs of Belgium for the statement. I now give the floor to His Excellency Mr. Tapugao Falifou, permanent Representative of Tuvalu to the United Nations. You have the floor. Tuvalu · Permanent Representative · Tapugao Falifou [6:13:18]: Thank you, Chair. Excellencies and distinguished colleagues To Allah wish to thank the President of the General assembly and the Secretary General for convening this first biannual summit. We also want to acknowledge the presence of leaders and heads of multilateral institutions. Your commitment to has made this gathering possible and it is an honor to join you. The global economy is unsettled. Growth has slowed. Debt has grown heavier. The path towards sustainable development has narrowed for many countries. Small states in particular are asked to do more with less. Even as climate disasters erode the progress of we make, we know what must be done. Financing must reach the scale of our ambition and it must reach the countries and communities who face the greatest risk. The promises made in Seville must carry forward into real delivery. The multilateral institutions are at the heart of this effort. They were created for global service, and that service must be fair and inclusive. Decision making must reflect the voices of developing countries. And reforms to strengthen representation can no longer be delayed. This biannual summit gives us the chance to build greater coherence. The T20, the financial institution and the United nations, all whole parts of the solution. What matters is how we align their work, reduce duplication and ensure that the system delivers results that people can see in their daily lives. For Tuvalu, success is measured in simple terms. Can a school reopen after a cyclone? Can medicine be stocked in a clinic without delay? Can we repay our debts without sacrificing investment in resilience? These are the questions our citizens ask of us, and they are the questions we must ask of this system. We believe these summits can make a difference by raising financing for development to the level of leaders. It ensures the accountability is clear and ambition is set at the highest level. If we can carry forward the spirit of Seville and match commitments with delivery, this gathering will set a new standard of cooperation. Excellencies in the Pacific, When a voyage begins, each crew member is called to steady their paddle before the first stroke is taken. This is how the canoe finds balance and moves forward. Today we steady our pedals together. Let us set a course that carries us towards resilience, fairness and hope for all. I thank you. ECOSOC · Chair [6:16:40]: I thank the permanent representative of Tuvalu to the United nations for the statement. I now give the floor to the to Mr. Rafael Rebaki from European Investment bank and representative to the United Nations. You have the floor, sir. Thank you, Chair. Ladies and gentlemen, it's. EIB · Representative to the United Nations · Rafael Rebaki [6:17:11]: It is an honour to speak on behalf of the European Investment Bank Group, the European Union's financial arm and one of the world's largest multilateral development banks. We proudly support the United Nations Sustainable Development Goals. EIB is a member of the MDB family. In this context, I am proud to say that global climate finance by MDBs rose around 10% last year to reach $137 billion. And importantly, our climate finance for developing countries rose by 14% to $85 billion. The EIB group is fully aligned with outcomes of the Sevilla Conference. For example, we are offering debt post clauses to over 70 vulnerable countries and our ambition goes further. We are working to strengthen domestic financial markets, expand access to concessional finance and mobilize private capital at scale. We have heard the calls to scale up financing for sustainable development and we are responding with resolve. In 2025, we aim to lend 100 billion euro to support the Sustainable Development Goals across Europe and globally. Take climate action, the defining challenge of our time as the Climate Bank. We are keeping the course. In 2024, nearly 60% of our financing was directed towards green projects and we will do even more this year. This includes renewable energy in Colombia, reforestation in Cote d' Ivoire and climate resilience for small island developing States, including through an innovative debt for climate swap in Barbados. Going forward, the EIB Group will strengthen its support to accelerate the energy transition and scale up its support for climate adaptation projects worldwide. We stand ready to work with all of you to turn the Sustainable Development Goals into action to deliver lasting impact. I thank you. ECOSOC · Chair [6:19:31]: I thank the EIB representative to the United nations for the statement. I now give the floor to His Excellency Mr. Oleksi Sobolev, Minister of Economy, Environment, Agriculture of Ukraine. You have the floor, sir. Excuse me. The Minister Sobolov is coming in five minutes. Sorry for that. We will wait for him. Should I go to the next speaker? I now give the floor to Her Excellency, Ms. Baroness Chapman of Darlington, Minister of State for International Development of the United Kingdom. You have the floor, Madam. Thank you. As we meet for this inaugural summit, we need to understand the scale of the task ahead so that we can get the money that is needed into developing countries and harness the knowledge, the expertise and the convening power of the private sector. We must harness this momentum of the wider campaigns for reform that many of you are leading. United Kingdom of Great Britain and Northern Ireland · Minister of State for International Development · Baroness Chapman of Darlington [6:21:05]: And this is urgent work that cannot wait. We need to prioritize four big fronts of action. One, we must See through the significant work that is already underway, something that we reinforce together in Seville and that includes avoiding duplication, building on the successful Asian Development bank and World bank model, helping them work together much more seamlessly and implementing recommendations on how the multilateral development banks can unlock more lending, including from their own resources, and be more ambitious about what is possible over the next decade. Two, we must move ahead on agreed areas for further action, including the multilateral development banks stretching their balance sheets further through reforms that could see lending triple, scaling up prearranged design disaster risk finance and doing more to support countries affected by conflict on their path towards peace and prosperity. Three, we need to change how we work to suit our partners needs and that means a system that's more efficient and more effective and making sure communities are at the heart of the work that affects them. In this vein, as a major shareholder at the World bank at the annual meetings next month, the UK will be using the time that we're given to speak for greater voice and better representation and to call for that for our partner countries. And fourth, we must work together to mobilise resources from all sources to inject capital into the multilateral development banks. The UK supports a capital increase for the World Bank's IBRD could conditional on reforms that could unlock billions of dollars annually. Lastly, I want to underline that we have a shared responsibility to build a global financial system that helps us invest in all our shared future. Thank you. I thanked the Minister of State for International Development of the United Kingdom. I now give the floor finally to His Excellency Mr. Oleksi Sobolev, Minister of Economy, Environment and Agriculture of Ukraine. You have the floor, sir. Thank you very much. Ukraine · Minister of Economy, Environment and Agriculture · Oleksi Sobolev [6:23:37]: Thank you. Thank you, dear Mr. President, thank you for convening this summit. We are here because progress on the SDGs is not just off track, it is receding as the very foundation of our global order, international law collapses under the weight of aggression. For Ukraine, this is especially acute. The full scale war has forced us to spend on defence instead of development, triggering a global diversion of funds and undermining the SDGs worldwide. No country should have to choose between survival and development, as our President Volodymyr Zelensky has stressed. For many nations there are no security guarantees left except strong partners and their own weapons. This is the reality that forces us to invest into defense. Yet even in war, Ukraine remains committed to SDGs investing in sustainable future and contributing to global food security despite constant Russian attacks. But we cannot succeed alone. We need a stronger, more responsive international financial system with Three priorities. First, flexible and rapid financing. Traditional instruments are too slow and institutions too weak. For countries in conflict, support must be agile, fast and at scale. Second, we need a shift from aid to investment and to mobilize necessary private capital for reconstruction. The international system must provide tools like risk guarantees and blended finance. And Ukraine experience can pioneer this model. And third, we need a green and resilient recovery. This means building a modern economy that can withstand attacks. And investing in clean energy is a direct investment in our national security. And Mr. President, for Ukraine, sustainability is intrinsically linked to our national security. There can be no sustainable development without sustainable security and we think that this applies worldwide. A resilient global economy must recognize that our robust capacity for self defense is a prerequisite for development and that defence is sustainability. As President Zelenskyy said, stopping the aggression now is far cheaper than building underground king kindergartens or massive bunkers for critical infrastructure later. So Ukraine stands ready to work with all partners to build sustainable future. And we count on your solidarity in ensuring no country is denied its right to development because of war. I thank you. Spain · Secretary of State for International Cooperation · Eva Granados [6:26:11]: I thank the Minister of Economy, Environment and Agriculture on of Ukraine for the statement. I now give the floor to Her Excellency, Ms. Eva Granados, Secretary of State for International Cooperation of Spain. You have the floor, Madam. Muchas gracias. Thank you very much, Excellencies. It's a privilege to address you today in the Ekuzok Chamber, a space that represents and shared commitment to multilateralism, to financing and to the 2030 Agenda for Sustainable Development, the topic for this first biennial conference. Building a resilient system is crucial to helping our system resist all kinds of different shocks, socio political and others, while at the same time promoting our guiding principles. The progress report on the SDGS shows that the world is achieving significant and positive change in 35% of goals, whereas 47% is stagnating and the rest is rolling back. Our decisions affect thousands, hundreds of thousands of people and the food security of more than 350 million people. the same time, the global economy is still fragile with with unstable growth, persistent inflationary problems and a record of sovereign debt that is threatening the fiscal margins of many developing countries. These conclusions remind us that just five years away from 2030, we must intensify decisive action and mobilise financing in a transformative, equitable and resilient way. Spain has come to this summit guided by the principles of the Charter of the United nations and thanks to its firm commitment to multilateralism, solidarity and cooperation. This is the foundation of Spanish foreign policy that is based on peace, the universality of human rights and international law, as well as sustainable development. Under this spirit, we were proud to hold the fourth International Conference on Financing for Development where we adopted the civil commitment against with the Seville Platform for Action, a roadmap with more than 130 initiatives in order to implement these commitments. Financing is not just a technical matter, it is a political decision. Together we can build peaceful, just and resilient societies. Spain is supporting innovative finance that is inclusive to achieve the SDGs. Allow me to highlight three dimensions of our action. Firstly, gender equality and the care economy. In Seville, Spain launched the financing initiatives for gender equality with a view to promoting transformative approaches that integrate gender sensitivity and debt as well as accountability for the private sector. We know that empowering women and valuing care work is not just a moral imperative, but also a driver of of prosperity and inclusive growth. Secondly, through our Global alliance to combat Hunger and poverty that Spain is co presiding with Brazil, together with governments and international organizations, civil society and the private sector. Our commitments include debt swaps for nutrition, support for family farming and supporting families resilience to climate crises. Thirdly, external debt. Spain has presented two initiatives. One for debt suspension under natural disasters and other crises and others to support debt swaps for development through the World Bank. We'll also establish a national mechanism to channel up to 60 million euros to relieve debt annually. Excellencies, we are running out of time. We cannot allow these promises to remain on paper. What we need is better financing and better coordination. Spain stands ready to work with all of its partners in order to restructure international financial architecture so that no one is left behind. I thank you. Singapore · Permanent Representative · Burhan Ghaffur [6:30:28]: I thank the Secretary of State for International Cooperation of Spain for the statement. I now give the floor to to His Excellency Mr. Burhan Ghaffur, Permanent Representative of Singapore to the UN. You have the floor. Thank you very much, Mr. President, for convening this meeting. I wish to make three points on behalf of Singapore. First, the international financial architecture must evolve to reflect new reform realities. The 17th IMF quota review must deliver a meaningful realignment giving developing countries greater voice and representation. MDBs must also work in closer synergy to mobilize resources more effectively. Regional platforms such as the ASEAN Catalytic Green Finance Facility shows how tailored approaches can scale and channel more capital in into green infrastructure. Singapore has established an initiative known as Financing Asia's Transition Partnership or fastp to deploy blended finance at scale to de risk and finance green and transition projects across Asia. Singapore has committed up to US$500 million in concessional funding to support this initiative. Single second, international reform must rest on strong domestic foundations. Progressive and resilient tax systems backed by strong tax administrative capabilities, firm anti corruption measures and the use of digital tools are essential to enhance domestic resource mobilization and build confidence. Thirdly, true economic resilience depends on inclusivity. MSMEs, or micro, small and medium enterprises remain the backbone of many economies and they need greater support through digitalization and improved access to credit. Investing in human capital is equally vital to equip our people for the green and digital transitions. In Singapore, our Skills Future initiative has enabled our citizens to continuously upgrade their skills, ensuring that growth creates jobs and leaves no one behind. Mr. President, multilateralism is under severe strain. We all know that. Yet it remains alive and relevant, as we have seen in the adoption of the Pact of the Future last year, as well as more recently the Compromiso de Sevilla. We must now harness the collective wisdom gathered here to translate these commitments into sustained and pragmatic reforms. And we stand ready to work with all partners. We are beginning an important conversation this afternoon here, and the path ahead of us is long. But I am confident that we can make progress if we work together. Thank you very much for your attention. ECOSOC · Chair [6:33:30]: I thank the Permanent Representative of Singapore to the UN. Peru · Deputy Permanent Representative · Juan Pablo Vegas [6:33:36]: I now give the floor to His Excellency, Mr. Juan Pablo Vegas, Deputy Permanent Representative of Peru. Gracias. Thank you very much. Chair. It's a pleasure to see you moderating our deliberations and it's an honor to address you all at this biennial summit for a sustainable, inclusive and resilient global equality economy. This is an important milestone to continue the debate that was begun at the Seville Conference and to talk about the connection between multilateralism and sustainable development at the heart of our collective action and ensuring that international cooperation fulfills its mandate to finance sustainable development. In Peru, we wish to highlight the following a great deal to do, especially in three key areas. Firstly, financing for the energy transition should be conceived of as a shared opportunity, a shared opportunity to achieve more sustainable and resilient economies. And in order to do this, it is essential that climate and development financing is granted under fair conditions, especially especially for developing countries. This requires promoting investment in green infrastructure, in clean energy, together with projects for productive diversification that add strategic value to our mineral resources. And so we should go for sustainable agri food systems, ones that are resilient to the triple environmental crisis, that strengthens food security and that promotes more inclusive and fair societies. Secondly, the Technology revolution represents both an opportunity for developing countries and at the same time, a risk of being left behind if we are not fully included in this profound economic and social transformation transformation that this entails. And so technology development is a key driver of progress. And we urgently need to move to international governance frameworks that can regulate emerging technologies such as artificial intelligence and that support technology transfer and digital cooperation, and also the capacity for adoption of new technologies. Our shared imperative is to ensure that the digital transformation actually serves inclusivity. Thirdly, reform of the international financial architecture to make it more just and sensitive to different realities. Middle income countries are facing growing limitations on access to concessional financing, despite the challenges that we face in the areas of debt inequality and climate vulnerability. And this is why it's fundamental that we move towards a framework that includes multidimensional criteria going beyond GDP in order to access resources. Chair Peru is committed to being a part of this collective response. Our presidency of the G7 in China, in Geneva, we will be driving debates under the framework of unctad. And as in our current Presidency of eclac, we will be supporting the voices of all of our members. We stand ready to work with each of you on the strengthening of an international financial framework that contributes to building a global economy that is inclusive, sustainability, sustainable and resilient, that can give broad and diversified access to all nations for the financing of critical sectors such as technological innovation, energy transition, agri, social, food systems, social development, and to give the opportunities for development that our peoples deserve. I thank you. Swiss Agency for Development and Cooperation · Director General · Patricia Danzi [6:38:04]: I thank the Deputy Permanent Representative of Peru to the United Nations. I now give the floor To Her Excellency, Ms. Patricia Danzi, Director General of the Swiss Agency for Development and Cooperation. You have the floor, Madame. Thank you, Chair Excellence, Mes Excellencies, ladies and gentlemen, A sustainable, inclusive and resilient global economy is an essential driver for reducing gaps in the achievement of the SDGs. Conversely, progress on all SDGs is necessary to strengthen the inclusion, sustainability and resilience of the global economy. Multilateralism is essential to address global challenges together. Effective development cooperation is essential to maximize the impact of mobilized resources, to respond quickly and appropriately to needs and and to strengthen trust and accountability between stakeholders. Multilateral development banks occupy a central place in the development architecture. Their scale and their scope enables them to generate an impact that no individual donor could achieve. Switzerland continues to attach great importance to multilateral financing, particularly from MDBs. And it has also helped to strengthen the effectiveness and impact of the Global Development bank system. In particular by supporting the coordination between social and environmental standards and by consolidating their collaborations and partnerships. We welcome the close cooperation between the UN and international financial institutions. However, we stress the importance for the UN not to duplicate existing work, to respect established frameworks and to make full use of institutions with complementary expertise. Switzerland believes that the proliferation of processes and the risk of duplication between the UN system and other institutions threatens the effectiveness, efficiency and coherence of the global financial architecture. Financing issues are at the heart of the current sustainable development crisis. It is therefore necessary to mobilize and leverage more national and international public and private resources for sustainable development. We must do better by aligning spending and investment more closely with the SDGs and national priorities. In addition, non financial measures offer considerable potential that remains largely untapped, for example, promoting private investment, strengthening good governance, systematically involving women and girls in decision making and ensuring policy coherence at the national level. Switzerland remains fully committed to implementing the 2030 Agenda at the national level and will present its third voluntary national review at the High Level political forum in 2026. Switzerland is fully committed to implementing the Seville commitment and places increasing investment in sustainable development at the heart of its priorities. In conclusion, we in Geneva have established a platform that brings together various actors to discuss all of the issues that are being dealt with today at this summit. Thank you. I thank the Director General of the Swiss Agency for Development and Cooperation for that statement. Republic of Korea · Deputy Minister for Multilateral and Global Affairs · Kwon Ki Hwan [6:42:20]: I now give the floor to His Excellency Mr. Kwon Ki Hwan, Deputy Minister for Multilateral and Global affairs at the Ministry of Foreign affairs of the Republic of Korea. You have the floor, sir. Thank you very much, Excellencies, distinguished delegates. First of all, I would like to express my sincere thanks to the Secretary General of the United nations former for organizing this event. This summit takes place at a timely juncture marking the 80th anniversary of the United nations and with only five years left to achieve the Sustainable Development Goals. While the prospects for reaching the SDGs do appear challenging, we firmly believe through our collective efforts, meaningful progress remains within reach. In this sense, this summit is well placed to serve as a cross cutting platform to bring together diverse actors that can make a real impact. As we are at a defining crossroads of shaping a more sustainable future, it is critical to build on the achievement of the fourth International Conference on Financing for Development. Having said that, written commitments are important, but it is now a time when action and implementation matter more. In this regard, we support the United nations to play a central role in fostering stronger collaboration among international financial institutions while respecting their unique mandates. Korea, having transitioned From a recipient to a donor country deeply empathizes with countries facing daunting challenges and stands ready to support their journey to sustainable development by sharing our experiences. Distinguished delegates, At a time when financing gaps for the SDGs are widening, the importance of effective development cooperation cannot be overstated. In this sense, the Global Partnership for Effective Development Cooperation, with its four principles, country ownership, focus on results, inclusive partnerships and transparency and mutual accountability, should be an integral part of the international cooperation architecture. Korea is hosting the 8th Busan Global Partnership Forum next week in Seoul to reaffirm the global commitment to development effectiveness, promote knowledge sharing and explore ways to strengthen multilateral efforts. Korea stands ready to work with all partners and stakeholders to accelerate implementation of the 2030 Agenda. I thank you very much. I thank Deputy Minister for Multilateral affairs of the Republic of Korea. I now give the floor to Ms. Pilar Garrido, Director of the Development and cooperation at the OECD. You have the floor, madam. Thank you, Mr. President, Excellencies, distinguished delegates. Development cooperation is under growing pressure. OECD · Director of Development and Cooperation · Pilar Garrido [6:45:59]: The OECD projects that OGA will fall 9 to 17% in 2025, following by 9% drop by 2024. These reductions will hit the poorest countries harder, with least developed countries facing up a 25% decline. In Sub Saharan Africa up to 29%. And this is not just a fiscal challenge, it is a test of our collective resolve. Now more than ever, the OECD is committed to advancing global partnerships through practical action. Supported by rigorous data, evidence based policy and inclusive dialogue. The fourth International Conference on Financing for Development marked a pivotal moment to reaffirm multilateral cooperation. The Sevilla commitment provides a new framework to address the development finance challenges. To that, we are contributing 28 initiatives that go from effective development cooperation and domestic resource mobilization to quality FDI and outcomes based financing. At the first biennial summit, our focus is clear. We must build stronger, better coordinated partnerships grounded in trust and supported by accessible finance to deliver the 2030 Agenda. The OECD is already acting. Let me just give you three examples. The first one is that we work together with oncta, the American Secretary in Spain, to actively contribute to the Beyond GDP alliance to to integrate multidimensional development metrics into policy and cooperation. We're also incentivizing a graduation process that works better for countries that are transitioning out of OGA and eligibility in order to safeguard development gains and ensure smooth country led transitions. And we are also intensifying efforts to mobilize private finance with a new action plan that is developed with the UN and convergence to Mircevilla's private private finance goals and address barriers such as data gaps, regulatory constraints and the catalytic use of oga. In Sevilla, DAC members also launched a review addressing data, addressing country eligibility and ways of working. We will report progress on this and take feedback from all of you United Nations Member States at the next Financing for Development Forum. We expect also to deliver an action and comment on early announcement by the end of this year. This is our moment to turn ambition into action and deliver on our shared promise and sustainable development for all. And we are pretty much committed to continue to under the country's leadership to do so. Thank you so much. President. AIIB · Senior Partnership Officer · Ping Yan Che [6:48:40]: And I now give the floor to Mr. Ping Yan Che, Senior Partnership Officer at the Asian Infrastructure Investment Bank. You have the floor, sir. Thank you, Mr. Chair. Let me first thank Secretary General Guterres for this invitation to address this esteemed audience of the first biennial Summit. This Summit marks a pivotal moment in our collective journey towards sustainable development, underscoring the critical role of infrastructure investment in achieving global development goals. As we gather here, it is imperative to reflect on the commitments made at various international fora, including the FFD4 held in Seville. At FFD4, the Asian Infrastructure Investment bank and partners emphasized the importance of a global financing playbook. This playbook is is designed to unlock transformative financing for sustainable infrastructure at scale. This playbook serves as a blueprint for action with four critical pillars of pipeline development, de risking, finance impact enhancement and policy reforms. These pillars, anchored in in a country led framework and driven by a multi stakeholder coalition comprising public, private and philanthropies, may provide a much needed boost to the Sustainable Development goals and infrastructure financing. We should also strengthen our partnerships and leverage innovative digital solutions such as the Joint MDB Co Financing Digital platform to enhance our collective impact. This platform exemplifies the power of collaboration, enabling us to pool resources, share knowledge and drive transformative change across borders. This afternoon, I urge all stakeholders, governments, private sector entities, civil societies and international organizations to better coordinate and mobilise resources towards achieving the global development Goals. We should embrace innovative financing solutions, forge partnerships that prioritise sustainable infrastructure development. The AIIB remains steadfast in its dedication to support these efforts, recognising that infrastructure is the backbone of economic growth and social progress. In conclusion, let us look forward with optimism and determination. The journey ahead is challenging, but with collective action we can turn aspirations into reality. Thank you. ECOSOC · Chair [6:52:04]: I thank the representative of the Asian Infrastructure and and Investment bank for the statement. Excellencies. Dear colleagues, we have heard the Last speaker on the list. I will now give the floor to the secretariat. UN Secretariat · Secretariat [6:52:36]: Thank you, Mr. Vice President. We will propose to briefly adjourn this meeting until 4:20pm to hear any remaining delegations who wish to make statements. And then we will proceed to have the closing session start start at 4:30pm with the Deputy Secretary General and the President of the Economic and Social Council. So we will adjourn and resume at 4:20pm to hear any remaining delegations who wish to speak. And then we will have the closing at 4:30pm I thank you. ECOSOC · Chair [6:53:27]: Thank you. If there is no objection, the meeting is now briefly adjourned until 4:00pm 4:20pm I'm sorry. Meeting is adjourned. Speaker 181 [6:54:18]: It. I'm going to go outside. It's. It. It's. Sam. It's. It. That. It. It's. That. Sam. Quarre. It. It's. It. That. It's. ECOSOC · Chair [7:27:35]: Excellencies, distinguished delegates will now resume the plenary to hear from the remaining speakers on the list. The speakers are reminded that the statements be limited to three minutes. With this now, I give the floor to the His Excellency Mr. Moddin Salam Ahmed Abraham, Minister of Foreign affairs and International Cooperations of Sudan. Excellency, you have the floor. Sudan · Minister of Foreign Affairs and International Cooperation · Moddin Salam Ahmed Abraham [7:28:23]: Thank you, Mr. President, Excellencies, ladies and gentlemen. It is a pleasure to share the greetings of the head of government of Sudan and the Sudanese people. We appreciate this initiative by the Secretary General to bring together this first summit on sustainable, inclusive and resilient global economy. And this so that states will be able to implement the pack for the future through multilateral efforts within multilateral actions. This would to achieve the SDGs. There is a global unprecedented, complex economic crisis in the world. COVID 19 raised the veil on the weaknesses of the global system and caused many losses in resources and in lives. It also showed a lack of resilience in the world. There are also other financial problems and investment issues which have harmed sustainable development. The value of these losses is more than $4 trillion. And this has affected many developing countries negatively. Rebuilding mechanisms have been unable to to implement the change that we want. Sudan today is going through difficult humanitarian crisis due to the rebel Militias attacks in 2023. This is something that threatens sustainable development. There are many countries that are vulnerable vulnerable that are also facing these challenges. There are also issues due to migratory flows. Displaced citizens and our basic services have been destroyed. There are also difficulties in agriculture, energy and health care. Millions of families and households have lost their source of income. More than half of our citizens need humanitarian assistance urgently. Despite all these tragedies. Sudan is committed to international just peace and the achievement of sustainable development. Our vision for life after the war is based on economic rebuilding. This will require significant financing to rebuild infrastructure and agricultural and industrial production. Must also establish a reform of the debt, the accumulated debt of Sudan. These must either be eliminated or eased so as to free national resources for us to focus on development. Development must be innovative, must be flexible. It must take into account the difficulties that our country is facing, as well as outside difficulties and all the conflicts. We are convinced that international financial institutions and the United nations will create a network to help vulnerable countries so as to bring them back into the fold of global trade. You must invest in human resources, health care, education and the empowerment of women and children. We must benefit from international partnerships in technology transfer and to diversify our economy and establish new types of workplaces. We must ensure the implementation and follow up of the civil commitment. It must not remain on paper. We must truly see action that will translate this international solidarity into real policies, practical policies. We insist on international governance. It must be more just and it must take into account the needs and the challenges of developing countries when it comes to climate change, technology or conflicts. These are global challenges and no country can face them alone. Sudan reaffirms its commitment to to international actions that would establish greater justice and sustainability in the world to ensure that no one is left behind. Peace, justice and sustainable development can be achieved through partnerships and political will, as well as solidarity. I thank you. ECOSOC · Chair [7:34:40]: I thank His Excellency the Minister of Sudan. And now I give the floor to His Excellency Mr. Theodore Daha, Ambassador, Director of UN affairs and Specialized Agency at the Ministry of Foreign Affairs, African Integrations and Iberian Abroad of. Côte d’Ivoire · Ambassador; Director of UN Affairs and Specialized Agencies · Theodore Daha [7:35:11]: Excellence, Excellencies, Heads of State and Government, Secretary General of The United Nations, Mr. President and invited guests. It is honor for me to take the floor during this first, first biennial summit for a sustainable, inclusive and resilient global economy. This event is taking place in a context which is marked by geopolitical uncertainties and the growing impacts of climate change. Cote d' Ivoire has made the choice to structurally transform its economy and since 2012, ambitious investments have been made in infrastructure, healthcare, education and social inclusion. It in particular, attention has been paid to youth, women and vulnerable populations. This has allowed for sustained economic growth with a real GDP of average of 8% between 2012 and 2019 and a re establishment of the GDP at 6.5% after the pandemic. We have also seen a significant decrease in maternal and infant mortality and better Access to health care, a significant decrease in poverty rates. And we have a greater rate of education and electrification, which has reached 95% in 2024, whereas it was at 33% in 2011. These results have placed Cote d' Ivoire amongst those African countries that have made the most significant increases in the Human development index in 2025. Our goal by 2023, or rather by 2030, is to build on these achievements and to reduce poverty by half. This will require massive investments, more than 206 billion USD between 2026 and 2030. 70% is expected from the private sector. To achieve this, we are bolstering our domestic governance through policies focused on human human capital, macroeconomic stability and increased domestic resource mobilization. We call for greater support from the international community through oda mixed financing, debt easing and increase in responsible private investments. Excellencies. Almost half of the global population is living in states that do not have enough financing to achieve the SDGs. This situation requires a joint response with innovative financial mechanisms and international solidarity. Cote d', Ivoire, in this vein reaffirms his commitment to the commitment of Seville on financing for development and calls for industrialized countries to respect their commitments in particular in development assistance in climate. I call for this summit to open a path to global financial architecture that is more just and allows each nation to to build a sustainable future. Thank you. ECOSOC · Chair [7:38:18]: I thank the Ambassador and Director of the UN affairs and specialized agencies of the Ministry of Foreign affairs of Cote d'. Ivoire. Now I give the floor To Her Excellency Ms. Heber Mustafa, Deputy Permanent Representative of Egypt. Egypt · Deputy Permanent Representative · Heber Mustafa [7:38:37]: Thank you. President Shukran Sedrais. Thank you very much. We support the initiative of the Secretary General to hold this summit which is taking place at a difficult time for the world globally. The title of this summit highlights what we need in order to resilient to build a sustainability sustainable global economy. We're all familiar with the challenges that we're all facing, Especially economic difficulties at the moment, together with structural inequalities. The debt burden is growing, climate change is not being resolved and there are numerous global conflicts. We are seeing rollbacks in a number of areas which is extremely worrying. What we need is more political will to address all of these issues. And the international community should take measures in order to alleviate the the hurdles relating to sustainable development. And we all need to mobilize to strengthen global governance to support sustainable development, especially the LGCs present. In order to build a strong international economy and one that is balanced, we would have to address the problem of financing for Development using new and innovative mechanisms. We should further strengthen multilateral resources and find greater support for LDCs and middle income countries. Furthermore, developing countries should be given a voice in governance so that their interest can also be taken into consideration. We further reaffirm the need to implement the outcome of FFD4. Ladies and gentlemen, we are convinced that we cannot have development without people and there can be no peace without development. In order for the results of all of these processes to be positive, we must resolve the conflicts in the Middle east and in other regions of the world. And first amongst these is the war being waged by Israel against Gaza. I highlight the need for a ceasefire and the urgent need to enable humanitarian aid and assistance. We must ensure that this conflict doesn't spill beyond the borders State and Palestine and the two state solution must be achieved in order to bring peace to the region and to help us achieve the SDGs I thank you. ECOSOC · Chair [7:42:13]: I thank the Deputy Permanent Representative of Egypt. Excellency, distinguished delegates, we have just heard from the last Speaker. I invite you to remain seated as we will begin the closing sessions shortly. Speaker 189 [7:42:33]: It. It's. ECOSOC · ECOSOC President · Lokbahadur Tapa [7:45:53]: Excellencies, distinguished delegates, we shall now proceed to the closing segment of our meeting. I now have the honor in my capacity as the President of the Economic and Social Council to deliver my closing remarks. Deputy Secretary General, Excellencies, distinguished delegates, colleagues, as we are going to close the first biannual summit for a sustainable, inclusive and resilient global economy, implementing commitments on financing the SDGs I thank the moderators, member states, international organizations and institutions for their active engagement and all the participation. For the valuable insights shared throughout the day. I commend your leadership and commitment in advancing today's discussions. I also thank the Secretary General, Deputy Secretary General and the President of the General assembly for their partnership in realizing this milestone gathering today we confronted the of the challenges before us a vast financing gap for the SDGs, mounting debt burdens, worsening trade tensions and shrinking airflows. But we have also heard a renewed determinations to act to implement the Soviet commitment to mobilize the investment in sustainable development at scale, to confront the debt crisis head on and to reform the international financial architecture for a fairer future. We also heard how this summit, born out of the Pact of the Future, can help bring coherence, ambition, inclusivity and access to the global financing conversations. It has given a platform for governments, international organizations and regional bodies alike to set out their priorities and champion solutions. As we close, let me highlight some of the main messages that emerged from the summit itself. Today. First, the time for talk is over. The time for action is now. The Compremiso the Sevilla lays out a clear roadmap to strengthen domestic resource mobilization, to scale off concessional finance, to lower borrowing cost, to expand liquidity support for countries in debt distress, to amplify the voice of developing countries in the international financial architectures and to advance inclusive international tax cooperations. These are the practical measures that can move us forward. We heard specifically today about how multilateral development banks can leverage their resources further, including by selling their loans to institutional investors crowding in private capital while freeing up resources for more lending. Second, the world of today demands a new form of networked and inclusive multilateralism. No single institutions or a country or group can meet today's challenges alone. As we heard today, we must build bridges, strengthen coordinations between the UN multilateral platforms and international financial institutions, and unite around shared priorities to deliver on SDGs. This inaugural BI annual summit has done exactly that, bringing together heads of state, leaders of the multilateral platforms and international finance institutions in a powerful display of political will. By reinforcing coherence and building alignment, it provides a model for how multilateralism should be practiced. Third, the global financial systems must change to reflect the world of today. The current architecture in which developing nations have insufficiency in the decision that directly affect them is unequal and unjust. For the system to be legitimate, developing countries need a strong voice and meaningful participation, recognized as equal partners and co architects of our shared future. International tax cooperations, including tackling illicit financial flows and debt negotiations, are two areas where developing countries have a major stake and where structural reforms can enhance the voice of developing countries. Excellencies, distinguished delegates, this biannual summit offer us a new mechanism for accountability and coherence across the systems. The Pact of the Futures and the Sevilla commitments gave us the mandate and the momentum. What is needed now is the political will and decided action. As President of the ecosac, I am committed to carrying this work forward. But success will depend on you on sustained leadership to turn ambitions into actions. Let us leap from this summit with renewed resolve to depend cooperations to foster trust and to build a global economy that is fairer, more resilient and more sustainable. I thank you. UN Secretariat · DSG · Amina Mohammed [7:52:51]: I now give the floor to Ms. Amina Mohammad, Deputy Secretary General of the United nations to deliver her closing remarks. Thank you very much, Excellency, President of ECOSOC. Excellency's colleagues and friends and I have a 10 page speech here to read, but I won't. I thank His Excellency Ambassador Loc Tapa for his speech because it really did just underscore what brought us to this room today. And it was 10 years ago that we gaveled the SDGs and just before that we did the Addis Ababa agreement because we said it was important for us to have the means as well as the to do list for humanity. And that we did. We did not see what was coming thereafter. Covid the war in Ukraine that had impacts on food security and energy security and then the very many other issues that just built because the investments were exacerbated by those issues that we had. And climate, of course, without the action on climate, that just got worse and that knows no borders. So many, many issues over the last 10 years. But we did have our common agenda that translated into the pact of the future. Member states were very clear as we came out of that, that the global financial architecture had to change. We had to address the injustices, the representation, opening up markets and dealing with debt. And from that, very quickly you pushed to get us out of Seville with a number of actions that came from that, particularly on debt. But this meeting of the biannual summit, that has been in the making for many, many years. If you heard the SG this morning, he was thinking about this as his contribution to our common agenda decades before. What today did was fill the room and the staying power you all have. Thank you very much for this. Because what has been argued is that we are not the place where big, big challenges should be resolved by global solutions and partnerships to get get the job done. You've made sure that everyone hears you loud and clear as Member states that this fora and many others that have gone through the last few days matter. We have to get to 2030 and 2030 is not far around the corner. We're not on track, but we could be. And that's what comes out of this room today. All of your discussions and your commitments in the partnership that is within our finance constituency has been amazing. From our IFIs to the regional groups, to the partners and leaders that we've had amongst our stakeholders, the G20, the G7, it has been very hopeful that we will carry this forward into the next meetings that we have. The G20, the annual meetings, the World Social Summit on Development that has a huge ask for investing in our economies that are more inclusive to right to provide our social protection, floors and jobs. And we end the year with Baku Tubelem 1.3 trillion of the 4.2 trillion that we need for sustainable development. So the biennial summit has really just brought us together around I believe common ground to hold ourselves accountable and to keep pushing for those commitments to be met. We very much look forward to two years down the line but the coherence at this bridge, the leaders that it brings and the work that ECOSOC will be doing over the next two years gives us plenty to think about within these halls but more especially in your countries where this is needed most. So complete commitment from the Secretariat and from our agencies, funds and programs the whole UN footprint whether it's in the regional economic commissions or on the ground in country teams, you have our complete commitment to helping to push this agenda forward. So once again thank you very much and we'll see you in two years. ECOSOC · ECOSOC President · Lokbahadur Tapa [7:57:00]: Thank you DSG and excellencies distinguished delegates thank you very much once again for your active participations and the contributions. This concludes the first bi annual summit for a sustainable, inclusive and resilient global economy implementing commitments on financing the SDGs. The meeting is heads on close.