(9th informal meeting & 2nd plenary meeting) Preparatory Committee for the Fourth International Conference on Financing for Development, Third Session

Good afternoon, everybody. Happy if everyone can find their seats. So that I call to order the ninth informal meeting of the third session of the Preparatory Committee for the fourth International Conference on Financing for Development to continue with the consideration of the zero draft outcome document of the conference. So, dear friends, on behalf of the co-facilitators, it is my great pleasure to deliver these closing remarks for a very productive third session of the Preparatory Committee for the FFD4 Conference. At the outset, we would like to express our sincere gratitude to all Member States, groups of Member States and stakeholders for their valuable contributions to our discussions this week. Your detailed comments on the zero draft and your reflections shared in interactive dialogues and side events during these past days have been invaluable. The active participation of civil society, academia and the private sector has been particularly noteworthy and highly appreciated. We deeply value your constructive feedback and insights on the zero draft, which has provided us with clear guidance on how to refine and strengthen the document in the next revision of the outcome document. This prep com aimed at receiving comments on the ideas and on the substance in the zero draft. in order to guide us in the transition from the zero draft to the next revision of the draft outcome document. We appreciate delegations that accommodated our request as co-facilitators. We understand that other delegations have found it easier to present their comments through language edits. However, Please be advised that the co-facilitators will treat these only as guidelines on substantive priorities of delegations. Everyone is welcome to submit their comments in writing to both e-statements@un.org and fft4@un.org. Please also be advised that we intend to publish all written submissions on the FFD4 website in the spirit of transparency. We also heard many queries during the PrepCom. We will consider these carefully as we work on our revised text. We will revert to delegations to provide technical clarifications on some of these queries where possible. However, we believe that many of the outstanding queries will have further clarity in the course of the process of moving forward. As mentioned at the end of the morning meeting, we will now provide some clarifications on the road map. We will now take some time to review and assess the comments and proposals you shared this week to produce a first revised outcome document to be released the week starting 10 March. During this period, we will continue to engage with Member States and stakeholders and will reach out if further consultations are required. The publication of the first revised outcome document will also mark the beginning of the intersessional negotiation phase of the process. We will provide Member States and stakeholders with a period in the middle of March to review the first revised draft outcome and consult with their respective capitals and groups to form negotiating positions ahead of the first round of intersessional line-by-line negotiations, scheduled from 24 to 28 March and 1 to 4 April. Please note that the first intersessional will kick off with an informal PR-level meeting to hear general comments from the membership on 24 March. We have heard statements from stakeholders requesting clarification on their participation in the intersessional meetings. We will work with the co-chairs and the Bureau to find an agreeable solution to address civil society concerns regarding the upcoming intersessional negotiating period. Dear friends, we are confident that the PrepCom provided delegations with an opportunity to know each other's positions on the zero draft. We encourage Member States to enhance their engagement with each other and support us in the process as we move toward the line-by-line negotiation period of the process. Let me conclude by reaffirming our unwavering commitment to delivering an ambitious and pragmatic outcome document that will propose concrete actions and key policy changes. Our aim is to strengthen the international financial system and address emerging challenges since the Addis Ababa Action Agenda. while working together to build resilient and equitable future where development financing serves as the engine of sustainable and tangible progress for all. We would like to have this opportunity also to express our deep appreciation to the Secretariat for their support and tireless efforts. I will now close the informal meeting in order for the second plenary meeting to be convened for the closing of the third session of the Preparatory Committee. I thank you for your participation. Please remain seated. The meeting is adjourned.

I call to order the second meeting of the third session of the Preparatory Committee for the Fourth International Conference on Financing for Development. Excellencies, distinguished delegates, I now invite the Preparatory Committee to consider agenda item seven entitled Other Matters. Does any delegation wish to take the floor under Other Matters? I see none, so I will now invite the representative of Spain, as the host country of the conference, to deliver a statement. The floor is yours, Madam.

Thank you very much, Mr. Chairman, and good afternoon to all guests in attendance. I wanted to take the floor to make a series of initial announcements, logistical announcements regarding how the conference will be organised so that you have a clearer picture of how things will proceed. As you're well aware, the Fourth International Conference on Financing for Development will be held from the 30th of June to the 3rd of July this year in Seville at a crucial moment for development. We've been discussing the conference this week, Spain will circulate an initial logistical note soon, but I did want to take this opportunity to convey to you a number of messages that in our view are particularly urgent and important in terms of logistics. These announcements will allow you to best organise the participation of your delegations. As initial response to the questions we're receiving by Member States, we'll be also imparting this information. We thank you for those questions and we're ready and willing always to respond. In addition to preliminary remarks, today we also would like to say that in the coming months we intend to organize a logistical briefing once the preparatory work is at a more advanced stage. and later on we will circulate a wider logistical note, a more fleshed out one, which will include the initial logistics note to which I've just referred. Regarding where the conference will be held, Seville is the capital of the Spanish region of Andalusia. There are some 700,000 inhabitants. It's the fourth largest city in Spain. Its temperatures are quite high in July. It also has one of the largest historical centres in Europe and it boasts a wealth of cultural attractions and is also very well connected with more than 80 destinations by direct flights. Turning now to the high level participation that we've mentioned several times now, we encourage all delegations to be represented at the highest possible level, given the ambitious nature of the agenda. We are working on a comprehensive national agenda in parallel with the conference and we can tell you at this stage that we do intend to organize a dinner for heads of state and government on the first day of the conference that is the 30th of June. In line with security and mobility criteria only heads of state and government and vice presidents will receive customary protocol services in Seville. Regarding accommodation in hotels, we encourage all delegations to make their accommodation reservations as soon as possible. As you are well aware, Seville is very popular as a tourist destination, particularly during the summer, to guarantee that you have hotel rooms available, we do encourage participants to prepare their travel and their accommodations as soon as possible. In the initial logistics note that will be circulated soon, we'll include a list of hotels with a number of recommendations in terms of how to reserve them. We're aware that we haven't yet been able to announce the exact location of the conference owing to domestic procurement legislation and procedures. However, the majority of hotels are well located within the city. Consequently, hotel location and distance from the venue is not crucial when you make your hotel choice. In any case, as soon as internal procedures allow, we will announce the precise venue of the conference. Transport now, as I already said, Seville is easily accessible both by plane and by train. It is connected by direct flights to 80 destinations. The National Airport of Seville, the San Pablo Airport, is located some 10 kilometers away from the city center and stands as the main airport point of air entry and welcomes a variety of national and international flights. For those preferring to take the train, the Seville railway station Santa Justa is located right in the middle of the city centre. It also is well connected to myriad Spanish cities. High speed trains and regional trains are an excellent option to quickly reach the city from Madrid, Malaga, and elsewhere. Once you are in Seville, you'll see that the city has a comprehensive public and private transport network which will ease your movements throughout the city. Regarding entry requirements, visa applications to enter Spain and registering within the UN to enter the conference are two separate procedures, as you're well aware. Consequently, we urge participants to obtain information regarding each separate procedure. We urge you to follow the requirements and stick to established deadlines. As far as Spain is concerned, we beseech delegations to to look at whether they need a visa to enter our country as soon as possible. We are absolutely ready and willing to provide extensive information. Indeed, that information appears on Spanish consulate and embassy websites. But we will also include information and relevant links in the note that will circulate as soon as possible. Thank you very much for your attention.

I thank the representative of Spain for that information.

I now invite Mr. Hanif, Assistant Secretary General for Economic Development in the Department of Economic and Social Affairs, to make a statement. The floor is yours, sir.

Thank you, Ambassador. Co chairs, Excellencies, distinguished delegates, representatives of civil society, I wish to convey sincere regrets from Mr. Lee Jun-ha, Under-Secretary-General of UN DASA, who could not join you this afternoon at this important closing session. It's my pleasure to deliver these closing remarks on his behalf. I sincerely appreciate the leadership of the co-chairs of the Preparatory Committee and the co-facilitators of the outcome document. Their leadership has served us well. They nurtured a very substantive exchange throughout this week. I'm encouraged by the level of engagement from all delegations and from other stakeholders that have shared their perspectives and views both in this room and in more than 60 side events and other forums. Expectations are clearly very high for CVAE to deliver solutions. to address the challenges faced by people who are struggling to meet their basic needs. They need an impact-focused, large-scale SDG investment push, easing of debt burdens, and of course, development finance. Expectations are also high on the issue of international financial architecture reform. This week has revealed some promising foundations for building consensus for a renewed global financing framework. There is a shared understanding that the Addis Action agenda remains a strong foundation for this renewed financing framework. Many delegations have welcomed and underlined the need for country leadership and ownership, and that international support must be delivered effectively and fully aligned with national priorities. However, it is also clear that there are divergent views on some of the most critical issues that FFD4 will need to address. I wish to highlight three such areas. First, growing debt burdens and the need for solutions to provide immediate relief but a lasting shift in the sovereign debt architecture. So we must find concrete ways to help many developing countries that are suffocating under high debt service burdens and see the SDGs slipping away. Second, scaling up the provision of concessional finance at a moment when ODA budgets are under pressure. FF4 must send a strong signal that 0.7% target still remains central to efforts for generating concessional development finance. Third, there are different approaches on international financial architecture and governance reform. Ladies and gentlemen, I hasten to add that despite the differences on these issues, there was clear commitment to remain engaged in finding solutions. The spirit of cooperation and collaboration will take us very far in finding the solution. We have also heard calls for realism this week. Yes, that is true. But there is another reality, the reality only five years left to 2030, and we are far off track on so many of the SDGs. Climate change is playing havoc in many vulnerable countries. This reality calls for a highly ambitious outcome in Seville. As we move ahead, maintaining the level of ambition rather than reverting to status quo positions is critical. Distinguished delegates, we should continue to aim for an ambitious negotiated outcome. While doing so, we can also advance collaborative solutions. In this regard, I reiterate the invitation extended by Under-Secretary General Mr. Lee Jun-hwa on Monday for all stakeholders to consider presenting impact initiatives in Seville. These initiatives will bring our renewed global financing framework to life with concrete actions. UN DESA will share additional details to support your preparation of such initiatives. In closing, let me assure you that DEFA remains fully committed to supporting all of you, the co-chairs, the co-facilitators, in achieving an ambitious outcome that responds to the needs of people, an outcome that people all around the world expect and badly need. We have to make finance work for people and the planet. FFD4 should be remembered as a turning point in making finance work for everyone. Thank you, Mr. Chairman.

I thank Mr. Naveed Anif for his statement, and I will now deliver some short closing remarks. As we reach the end of the third session of the Preparatory Committee on the F54, allow me to share a brief reflection on the past few days and the road ahead of us. We have come together to undertake and complete the first reading of the zero draft. While these may have at times taken the shape of a rather dull exercise, make no mistake, our common purpose co-shares, co-facts, and I believe all of you has been and remains the same, focusing on concrete and actionable proposals to get tangible results in Seville. In other words, to make an impact, to accelerate progress towards the SDGs and in so doing to contribute to the fulfillment of the aspirations of our citizens for a decent life on this planet. This cannot happen without you, without staying together and working together through our differences. Expectations remain positive and where there is a will, there is a way. We encourage you to take on the task ahead of you I'm sorry, on the task ahead of you with a mix of ambition and pragmatism. Be problem solvers, not problem makers. Rest assured, there is some work for everyone. Moving forward, it is important to go beyond political rhetoric and work on identifying solutions that are suitable for all, produce results, and can have an impact on the ground. Push where there is space, but don't spoil the process. Looking past the voicing of well-known positions this week, we note with appreciation the positive buzz in the corridors of the UN, people discussing challenges but also potential solutions, delving into the details of proposals and their potential impact during side events. Staying and working together also means thinking about the four walls under which we work, the United Nations. The United Nations has a role to play in financing for development that is undeniable. It is up to you to shape that role while bearing in mind the mandates of other relevant institutions. The intention should be to make the international architecture more efficient. Let us make sure that the pieces of the puzzle not only fit together but also go well together. Like the co-facilitators, our only bias as co-chairs is towards progress. We invite you to navigate together towards progress in Seville. As the Portuguese poet Fernando Pessoa used to say, navegar e preciso, meaning to navigate is necessary. I, before I invite my fellow co-chair Ambassador Manire Tanga to further elaborate on these thoughts, and I thank you and I wish you a happy Valentine's Day.

Thank you, Ambassador Vignes. I'd like to echo your appeal by saying, let's stay together. Distinguished colleagues, Every one of us has a role to play in this process. The ministers, vice ministers and other high level representatives who have been attending every session of the Preparatory Committee have provided their insights and steered the process. We hope that their contribution will be taken on board at the technical level to help delegations move past their rhetorical trenches and differences of position. The Member States, in particular, those that have been able to mobilise their finance and other line ministries, remotely or in person have provided the necessary space for creative thinking in the moment so as to be able to work on tangible solutions. The stakeholders, ranging from academia to civil society, as well as the international financial institutions, multilateral development banks and the private sector, You must be part of the conversation and the negotiation process, because if you're not part of it, how then will you implement the proposals aimed at you? To each and every one of you, I reiterate our commitment to carrying out an inclusive, open, and transparent preparatory process. This leads me to a second key point. There are many extremely important and concrete proposals. The International Commission of Experts on Financing for Development released their report this week, as did some institutions with their global outlook on financing for sustainable development. And also the work of the SG's expert group on debt is also moving ahead. However, it is also essential to put in place an effective framework to monitor progress in the implementation of these proposals. let us not neglect this part of the discussion. Stronger but also more efficient follow-up is required, bearing in mind the limitations of Member States in terms of available resources to take on new reporting requirements. Ultimately, as has been noted in the past, civil must not be a destination or a conclusion. It must be a milestone in accelerating the implementation of the change that we very much want. As you engage in negotiations and prepare for the conference, we encourage you to think about concrete initiatives that will facilitate the implementation of the outcome document? What will be the tax inspectors without borders or the integrated national financing frameworks that come out of Seville and how can these be further improved going forward? Lastly, political will is crucial. It remains our intention to achieve high-level representation at the meeting in April, taking advantage of the spring meetings in Washington DC and the ECOSOC Forum on Financing for Development. We will work with the President of ECOSOC and the Secretariat to that end. However, we encourage you already to start encouraging your colleagues attending the Spring Meetings to also attend these key events in New York to help provide the necessary momentum for the negotiations to be concluded successfully and on time. For when we arrive in Seville, we want to be celebrating and not to the sound of Corazon Partio, Broken Heart by Alejandro Sanz, but rather to Con Altura, Riding High by Rosalia, while sipping sangria and enjoying the warm hospitality of our dear Spanish colleagues. Thank you. We have thus completed our program of work for the third session of the preparatory committee for the fourth international conference on financing for development. Thank you for your participation. The meeting is adjourned.