(Day 4) Sevilla Platform for Action (SPA) Initiatives Announcement - 4th International Conference on Financing for Development FFD4 (Sevilla, Spain)

Good morning everyone and welcome to the final day of the fourth Financing for Development Conference. It's a privilege to stand before you today to launch the Seville Platform for Action, government-led initiative on global public investment. Let me be clear, this day and this conference do not mark the end point. They do not resolve the global crisis we face. Instead, they mark the beginning. The beginning of an opportunity to remake and revitalize multilateralism and revitalize financing for the future. The beginning of a renewed multilateralism will be more inclusive, more ambitious, and more effective. Today, I'm pleased to announce that a group of leaders from governments, international institutions, and civil society organizations are coming together in a dedicated team to make global public investment a reality by 2028. The scale and urgency of the challenges we face, pandemics, disasters, climate change, and the scale of the shared opportunities Medical innovation, energy transition, digital transformation demand a new level of collaboration. Global public investment offers a powerful response to that demand. At its core, global public investment is rooted in three simple but transformative principles. All benefit from the outcomes, all contribute to their means, and all decide together. This is not charity. This is collective self-interest. Each country contributes what it can, just as a national tax system would fund shared services, and in return, all nations benefit from the results. Building on years of research, advocacy, and political momentum, this initiative launched today will work to embed global public investment in the international finance system by 2028. This includes developing concrete proposals, convening regional dialogues, and designing a roadmap for implementation. And I want to particularly pay tribute To the partners, the leaders, the institutions who are going to be on this path with us and who are going to be speaking to you today, we have the government of Uruguay, the government of Colombia, the Development Bank of Latin America and the Caribbean, and our partner Club de Madrid and the Ford Foundation. You are all pioneers. Your leadership has already sparked widespread excitement and engagement. More partners and governments are preparing to join this effort in the coming weeks, and we will welcome them and we look forward to collaborating together as a team to bring global public investment to life. Because hope is not idle optimism. Hope is built through action. And what begins here today in Seville can become a reality by 2028. To secure our shared future, we need to share investment. We need shared power. We have the tools. We have the vision. We must be bold in how we build the political will. So let's make sure that the future generations look back and see this moment as a transformational shift which began today. Let it not be automatic. Let it not be guaranteed. Because it can be won, but it has to be won together. So I'm looking forward to seeing you all join us to take this forward. Thank you so much. Now I'm going to invite our partner, Club de Madrid, the Secretary General of Club de Madrid, Maria Helena Aguiar, to come up to the stage and do her statement as well. So thank you so much.

Thank you, Pin, and thank you, colleagues, and thank you for coming and joining us this morning. Club de Madrid is delighted to be one of the leading entities of the Seville Platform for Action, a Seville Platform for Action for Global Public Investment. Global public investment, as my colleague Pin was just sharing, will be crucial for enabling the world to overcome the profound crisis of financing and multilateralism that we find ourselves in. Global public investment will be crucial for enabling the world to seize the opportunity of a reshaped set of relationships, of reshaped cooperation, and Cooperation that must be rooted in the concept of equality and in a set of principles that are the basis for this initiative. And this is that all participate, that all contribute, and that all benefit. We are living very, very uncertain times. Times where geopolitical rivalry is intensifying. Multilateral institutions are under strain. Institutions in general are under strain. National institutions are also under strain. And it is what we're seeing unfolding before us is not just a series of converging and overlapping pressures and challenges. It is a fracturing of a system. It is a fracturing of the lives that we have known in many ways and of the frameworks that once made cooperation possible. In this context, it is easy to see only decline, only challenges, and yes, challenges are there, but so are opportunities. And it is these opportunities that we must seize. We recognize this is a critical moment, therefore a critical opportunity, a moment to reimagine how we govern, how we act, and how we manage our interdependence. If today's fragmentation signals the decline of a certain model of cooperation, It is also essential to realize that it opens spaces, that there are opportunities, that there is hope, but above all, opportunities that have to be seized and seized by action. And new forms of collective action are better suited to the realities of a multipolar, complex, and interdependent world. At the center of the remaking of this is the governance of global public goods. The essential conditions, systems, and resources upon which the well-being of all people and the stability of the planet depend. Climate stability, peace and security, inclusive digital and technological governance, all of these are areas in which we must and opportunities that we must seize, objectives that we must look for and aim for. Global health, economic resilience also, because we are living in a world of growing inequality. And all of these elements are essential to overcome that inequality. And these aren't just policy proposals or policy priorities. They are the pillars of our own essence. The challenge lies not merely in institutional reform, but in reshaping the political foundations on which global cooperation is built. Our current institutions are not equipped, but It is not only a matter of institutions, it is also a matter of mindset. Mindset that will give us the energy and the will, the political will, but also the citizens will to move forward and to reimagine. In this sense, the financial instruments available to support collective action which we know have been and are insufficient, fragmented, and tied to asymmetrical power dynamics, must be reviewed and, in a way, as I was saying earlier, must be reimagined. And this is part of what we're talking about when we discuss and when we present and when we make the proposals regarding global public investment. Because global public investment is an approach that will reshape how global challenges are addressed. By shaping a more coherent, inclusive, and purpose-driven governance and governance architecture. An architecture that can align diverse actors, mobilize shared resources, and enable effective collective action across borders. to democratic norms, which are at the core of the Club de Madrid. The Club de Madrid is an organization that brings together over 120 democratic former presidents and prime ministers from over 70 countries. These are individuals who have been in office, who have been in power, who have had the responsibility of government and of governance, and who continue to be committed to norms, principles and values that are at the core also of our concept and our approach of global public investment. But this shaping of a more coherent, inclusive and purpose driven governance architecture, which is what this and our proposals are about, must must, as I was saying, align diverse actors, mobilize shared resources, and enable effective collective action. This is why participation, accountability, transparency, legitimacy, principles and values that we all share are at the heart of this approach, are at the heart of global public investment. And it is the institutional DNA for delivering public goods in ways that are inclusive and sustainable. Global public investment is about shared investment in a common future, where all contribute according to their capacity, all benefit according to their needs, and all participate in a decision-making process. And again, this is not just a proposal. This is an approach and a way in which we are looking to contribute to processes that have to change. As we refer to these principles that will be reframing international finance as a cooperative public good in itself, as a tool for long-term collective stewardship, not short-term politics or practices. This is a long-term objective and a long-term approach. Madrid, as I was saying, brings together over 120 democratic former presidents and prime ministers. One of our main activities each year is our annual policy dialogue. In 2026, our annual policy dialogue will serve as a platform to reimagine how we govern what is essential, the global public goods on which people, societies, and the planet depend. Club de Madrid is mobilizing the largest platform of democratic former heads of state and government and using their experience, their convening power, their access, and their commitment to promote and to foster, yes, values, principles, and objectives that are shared. And in this instance and through this initiative, our members, who are the main protagonists of our organization, seek and offer the opportunity of engaging political leaders and the public and civil society at large to build momentum for global public investment. We invite Therefore, we invite you to join this effort as part of a process of dialogues to develop global public investment for implementation, for action. The process is set to lead and to establish a task force that will be identifying ways in which we can generate GPI-aligned multilateral mechanisms by 2028, mechanisms that will provide transparent, non-debt-creating, cooperative funding for shared global challenges. And we invite you to be part of this process, of shaping this process. Global public investment has moved from being an idea, an ideal, to being a policy proposition for governments to develop and agree. It is urgent, vital, possible and shared. This is not an academic exercise. It is a concrete political process to remake how we cooperate, how we govern and how we sustain what is essential for people and planet. We invite you therefore to please join us in this effort and in the attainment of this objective. Thank you very very much.

I'm going to now, is this on? I'm going to now invite Martin Claveau, who is the Director of the Development Cooperation Agency of Uruguay. So Martin, could you take the podium? Thank you.

Hello can you hear me I'm going to speak in Spanish I want to apologize for that good morning I will wait for the people to get their headsets on Well, good morning to all of you. It's a pleasure to be here. Thank you very much for your kind invitation. I'm going to speak on behalf of the government of Uruguay. And when this initiative was presented to us as a being a country which faces restrictions to when in access to official aid to development, we believe that it's really important to have these initiatives where we encourage horizontal and collective dialogues in searching for new financing opportunities, but also new opportunities on how to measure development for Uruguay, it's, we are delighted to take part at the launching of this initiative, public investment in Uruguay. has a potential to recalibrate international cooperation, can guide the world against, far away from deeply rooted and unequal power dynamics in global public investments, will not only be more fair than the current approach is based on last century's dynamics, but can be also a lot more successful, they're responsible and more the responsible and collective structure proposed by GPA will be successful for that. We cannot overcome global challenges if we recreate in isolation or we compete for domination. We'll only succeed when countries co-create solutions in a collaborative manner for shared problems. It's time now to incorporate into global financial architecture the principles principle of that all decide, all benefit based on the according to the needs and all contribute according to their capacity. All countries can contribute, have something to contribute. So, let's work so that this initiative that starts here today can benefit all of us. Thank you very much.

Thank you so much. Martin, that was fantastic and we're very, very much welcoming the support of the government of Uruguay. So next, I would like to invite our partner, Jean Piero Leoncini, who is the Executive Vice President of CAF, which is the Development Bank of Latin America and the Caribbean. Thank you.

Good morning, distinguished colleagues. It is a pleasure to join you today on behalf of CAF, Development Bank of Latin America and the Caribbean, to support this critical step for global public investment. We are at a moment that demands more than technical fixes. The scale of our shared challenges, from climate change to pandemics, from digital divides to debt distress, calls for nothing less than a transformation in the way we finance global cooperation. And this transformation begins with a principle long overdue, that all benefit, that all contribute, and all decide together. And this is precisely the model since CAF was conceived, since its inception. CAF has long understood the power of regional and global public goods, infrastructure, data systems, environmental protection, institutional capacity to drive inclusive development in Latin America and the Caribbean. We have invested in cross-border energy integration, infrastructure for trade, digital public infrastructure to close gaps and increase resilience. But we know we cannot do this alone. For example, Yesterday, we had an insightful workshop on how investing in the prevention of adolescent pregnancy can improve the quality of life for young women, based on the logic that it is a viable and impactful economic investment. Multilateral development banks like us play a pivotal role in connecting national priorities with global ambition. We bring financial strength, technical expertise, and trusted partnerships to support governments as they navigate crisis and unlock opportunities. At the moment, we are in demand for greater coordination, deeper complementarity, and stronger articulation between national platforms, regional institutions, and global frameworks. There are extraordinary opportunities for progress on areas from public health to clean energy, improving everybody's life, that a global public investment can help countries achieve. The development of global public investment therefore an essential part of bringing international financing up to date. This is why this initiative is so timely. It aligns perfectly with our efforts to create inclusive and transparent financing mechanisms where countries contribute according to their means and benefit according to their needs. This is strategic investment in collective resilience and sustainable growth. Sevilla marks not just a conference, but a turning point, a moment where we move from ambition to action. At CAF, We are proud to stand with the Global Public Investment Network, Club de Madrid and the government of Uruguay, among others, to help shape a future where cooperation is not optional, but a foundation of progress. Thank you.

Thank you so much. Thank you to all of you for your comments. I'm just going to open up the floor to see if there is any questions from journalists or from anybody else who's in the room as well. Yes.

Hello, good morning. Can you hear me? Like that. Yeah, thank you. Hello, my name is Camilo Gamba and I work at the International Forum on TOSI Secretariat. TOSI means Total Official Support for Sustainable Development. And we have been actually collecting data on support to address global challenges for the last five years. Oh, thank you. So my question is, I have seen that the narrative on global public investment have advanced quite a lot and you are getting track, which is amazing. What are the plans to materialize this narrative into actions, for example, in data collection? I imagine, for example, if Burkina Faso or Gabon Because we all contribute, we all give what we can, and then we all decide which are the actions that we envisage to materialize this narrative into, for example, data collection. Thank you.

Thank you. I think you said you were from the TOSD forum, is that correct? Yes, okay. So this is obviously capturing other flows beyond public flows and it was initiated I think between the UN and OECD, that's correct, right? Yeah, sort of. So data is a really important question with regards to how we're going to capture data and I think when we're looking at public finance and public funding flowing, obviously national information is there and regional information is there to some degree, global information is there, we've got quite a quite good sources of official finance, databases around official finance. But what we're doing at the moment with regards to global public investment is to really think through how do we create a collective of leaders who are going to come together to actually really look at what does global public investment look like as a financing mechanism. So that's going to be the first step before we start data on what those public flows are doing. And we will be leading with regional consultations. We want to be able to put a group together to lead regional consultations with the governments on what are the topical, most important issues that we need to be grappling with that should be addressed through global public finance. So that will be the first step. And then we will put a roadmap together on how do we achieve, how do we go ahead towards 2028 to achieve instrumentalizing global public investment into the international financing architecture. So this initiative is the first step. It's the first step towards bringing that collaboration of governments and international organizations together, alongside organizations like Global Public Investment Network and Club de Madrid, to start doing the thinking, to start doing the talking. We as governments and international organizations have not sat down yet together on this. So that will be the first step, and then we will go from there. But data is very important, and it will be very critical as part of this initiative to think through how do we ensure that we have good data to really track impact. And that's going to be fundamental for us to always think about what's the impact these flows are having as well. I'm going to just check if there's anybody else on the panel who would like to come in on the question. Marielna.

No, I thank you. Thank you, Pina. Thank you for the question. I think I want to I'd like to emphasize that this is the first step, that we are going to be pulling our forces together, governments are going to be important, the international organizations, and there is a lot of data out there. So it's a matter of not reinventing the wheel, but of starting out with what we already have, making it as useful as we can in order to identify, in order to figure out together what the mechanisms can be to make global public investment the basis of our action.

Thank you. Yes.

Thank you.

First, I want to congratulate you.

I think this is one of the most visionary things that I've seen come out of the conference this week. A question. If listening to this this morning and I was a member of a government delegation, what would you like me to go back to my country and do? And if I was a representative of civil society, what would you like me to go back to my country and do?

Very good question. I'm going to see if anybody from the panel wants to come in, particularly on what should somebody from a government be going back and doing.

I'm going to answer in Spanish. You represent the civil society or a government? Okay. Well, as our colleague says, this is just the initial stage. And so I think that what we should do first is to disseminate on our countries, to disclose, to make it known, to spread it among our colleagues. And for example, my country has a best practice handbook for these topics, for example. we can start by sharing the best practices you have for a governmental level civil society. That is, first of all, we have to collect information, to compile and bring together the information. And when this meeting is convened to see where we can meet and what can share to develop this idea. And basically the dialogue, the discussion and we must think especially on joint solutions.

Yes. I think in terms of the governments, what our colleague Martin was saying is very important in terms of going back, seeking and urging the governments to join, because Bottom line is that the governments too have a lot of the data that we were discussing about before. And one of the things that we've been discussing over the past years is the need for a more effective multilateralism, but a more networked multilateralism. And so we have to make, if we're going, if we are discussing collective action, one of the very important elements is to be very serious about the networking. Networking is not easy, we have to pull our forces together and communicate. Theoretically, it's easier to communicate today. We have the means, we have the tools. But let's communicate to network and to act.

Brilliant, thank you so much. Martin, I'm going to add just one thing. First of all, from a civil society perspective, there are a lot of tools on our website. We've got talking points, presentations, et cetera. So that's Global Public Investment Network. That's the name of the website, very long, but it's straightforward as a site, it's got resources. And that's the thing that I would say to civil society, go there, download the resources, and then take them in to speak to your government. That's really important, advocate. And I'm really glad to hear you say this is the most inspiring idea you've heard at this week. So I'm very pleased with that. And the one thing I would add onto the government side, if you're a member of the government delegation, is we're available we're available to do briefings and have meetings to talk to you more about this this is the start of a process and we want to grow the number of governments who are supporting us so it's really about reaching out letting us know that you would like to talk we will definitely reach out to you and let's start that conversation now so thank you so much but with that I'm aware that we have reached our time and we've got the next group wanting to access the room as well so thank you so much for attending this morning. We really appreciate it and we look forward to continuing this collaboration. And thank you to our partners who are on stage with me for your incredible words and your leadership with joining us as partners on this journey over the next three years. Thank you.

Play all songs of the Kapil Sharma Show.

Good morning. Can you hear me? Okay, we'll be starting in just a couple of moments.

Play all songs of the Kapil Sharma Show.

Okay, good morning. Good morning, everyone. If I could invite you to take your seats. And thank you for joining us for today's launch of the Beyond GDP Global Alliance. I think this is one of the most exciting SPA initiatives because it's about moving beyond income-based measures to explore what really matters. And what we're launching today is an alliance of countries and partners committed to advancing the integration of measures that go beyond GDP into development policy and financing. The alliance is led by Spain, the United Nations through UNCTAD, the Ibero-American General Secretariat, and the OECD as a knowledge partner, along with a diverse set of institutional partners, including CAF. Development Bank of Latin America and the Caribbean. I'm glad to say we have representatives of all these partners here today. We're also thrilled to have a representative of 4P, the Pact for Prosperity, People and the Planet, to launch a closely related initiative, the 4P Roadmap for a better inclusion of multidimensional vulnerability. So I would like to start by extending a warm welcome to our panelists and perhaps I can invite you to take your seats as I introduce you. So we're honored to have with us UNCTAD Secretary General Rebecca Greenspan is on her way. We have Mary Beth Goodman, Deputy Secretary General of the OECD, Lorena Larios, Secretary for Ibero-American Cooperation of SEGIB, the Ibero-American Secretariat General, just in time. Thank you very much. We are honored to have Rebecca Greenspan, UNCTAD Secretary General, if you would like to join us on stage. We also have six panelists today. Anton Lais Garcia, head of the Development Cooperation Agency of Spain, AID. We have Gian Piero Leoncini, executive vice president at CAF, the Development Bank of Latin America and the Caribbean. And lastly, we are delighted to have as our closing act today, Your Excellency, Ambassador Floribella Parra, President of the Portuguese Development Agency, Camoche. Yesterday, some of us had a sneak preview presentation of the Beyond GDP Alliance in an extremely packed room, well beyond fire safety regulations. So we booked a bigger space for today. It's really encouraging to see the level of interest in this initiative. As we heard yesterday, the idea of bringing multidimensional measures into policymaking is not new. But what is new is that we now have an alliance of partners committed to making this happen, pulling ideas and experiments from around the world into something that can define and drive the kind of progress that really matters. Without further ado, I would like to invite Mr. Garcia to start us off and feel free to speak from the floor.

Well, buenos dias, good morning. It's really inspiring to see full rooms after three days of exhausting work, I have to say. I don't know how you do it. I'm very tired. So I think the name of this meeting is beyond GDP, but I think we are really pushing beyond everything, beyond everything. this conference. Now, it's really great because let's put it this way, a few months ago, we wouldn't imagine that Sevilla will finish today with this sense of energy, with a lot of innovation and new messages, things that those of us that have been working in this business, let's call it that, for quite a few years, we wouldn't think this would come to a formal UN event on development. We see conversations that we wouldn't see before. We are pushing the boundaries. We are beyond. And this is great and great news. So we are talking about beyond ODA and we actually say ODA and beyond because we think solidarity is still very important. And there was a major announcement two days ago of our prime minister. Last year we increased it by 12% and we are still determined and committed to 0.7. But we need to go beyond ODA and we need to go beyond GDP. And for decades, development cooperation and actually the definition of economic progress has been very much focused on a single metric, which is GDP. And often GDP per capita, which means dividing the richness in a country by the number of people. And that has determined not just how we attribute the money, but also which countries are eligible, which levels of conditionality, but also types of things we do. We are trying to grow GDP. And this is great and it's important. Poverty is still our worst enemy and we know that economic growth is absolutely responsible to lift the 700 million people that are in extreme poverty in the world today. That, of course, needs to be addressed. But we need to go beyond, and I think that's what we are trying to do with this initiative. It is great that a coalition has built, that we have a number of countries, that we have a number of organizations represented here to think beyond. And to start thinking not just about the size of the pie, but how we distribute it, what the limits are in terms of not just economic progress, but also planetary boundaries, and so on and so forth. Spain is firmly committed to this agenda. Two years ago, we adopted with a broad consensus, which is rare also, a new law on development cooperation and global solidarity. And as part of that, we embrace the concept of development in transition, acknowledging that all countries in a way are transitioning into a more prosperous, but also more sustainable, more inclusive world. So we talk about the social transition, we talk about the economic transition and the ecological transition, and we are all in it. In the 2030 agenda, there is no developing countries and developed countries. We are all together. So we need to start measuring our progress beyond GDP. And we need to start devising instruments to continue working with countries in mutually beneficial partnerships. The idea of aid, I haven't heard aid that much these three days. I heard a lot about partnership. We had an event with 40 agencies, development agencies from the north and the south. We are not asking who provides aid and who receives it. Rather, the question is, how do we work together for sustainable development? So this is a great innovation. We really support it and we hope we draw all the lessons. We start thinking about graduation and not just, and I see many friends from Latin America, Lorena is here as well, many of them concerned about graduation and not being eligible for ODA. Guess what? Spain will continue working and doing development cooperation with Uruguay. My friend Martin is here and with Chile and they are graduated, they don't receive ODA, but Spain and these countries will continue working sustainable development. And the same for lower middle income countries that have the very bad news of graduating to middle income and losing big levels of concessionality. And then we need to think differently on how we measure progress and the kind of things we look at. So very welcome, everyone. Big congratulations and we are very excited and willing to work with countries like Portugal, others, countries in the global south to push this very beyond agenda. Thank you.

Thank you. Thanks very much. It's fantastic to have Spain as such a champion of this initiative. I'd like to now turn the floor to Secretary General Greenspan. As you like.

Then we stand up. So thank you very much. It's great to be here and it's great also to see the Secretaria General Iberoamericana with Lorena here represented. And thank you Spain so much. for all that you have done for this to be a success. Yes, it's really when we say that this has been a wonderful energy, what we felt here in Seville. And it's a lot also because Spain didn't go on the way of cutting aid or retreating from multilateralism, but all the contrary. It's about engagement, it's about partnership, it's about being really solidarity, putting solidarity in the center, but also an important voice towards multilateralism. So let me also thank Spain for having put a Beyond GDP Global Alliance like a very important cornerstone of the Plataforma de Accion de Sevilla. And this is a very important part of what we are doing. So let me again try to express the spirit of Going Beyond GDP. And I remember this phrase from Robert Kennedy, yes, that said, "GDP measures everything with the exceptions with the exception of the things that are important. And this is so true today. Yes, GDP measures transactions. That's what GDP measures, transactions, nothing that measure progress or value. And we have confused the measuring of transactions with the measuring of progress and value. And the examples that we put on this are the examples that you know about. GDP counts every euro spent cleaning up an oil spill as progress, yes? Or it counts the security systems we buy because crime has risen. Yeah. And so... But at the same time, GDP is blind to the care economy, or it assigns zero value, still today, zero value to the Amazon rainforest. But it will count the cut down of the Amazon as part of the GDP. And so this is the real situation that we are in. This is why here in Seville, we have launched this Beyond GDP Global Alliance, because GDP is about goods and services, but development is about people and wellbeing, and the wellbeing of the environment in which we live. So Beyond GDP is about bridging the gap, about making the invisible visible, and about measuring development with development. The alliance bringing together countries from Spain to Chile, from Jamaica to Japan, organizations from the OECD to ANCTAD represents in this sense a major shift. This alliance matters because it transforms isolated experiments into a global movement. And this is what we were talking about. There are so many initiatives, yes, to measure different. I was in UNDP and we tried to do the Human Development Index precisely to go beyond GDP. But it's time to go beyond even those efforts. And this is about, you know, really having a movement that is able to get to the end objective. So for too long, individual countries have pioneered these alternative metrics in solitude. And we know not only countries, but Bhutan with its gross national happiness, New Zealand with the well-being budget, Costa Rica with our environmental accounts, the vulnerability index that these small island developing states have put forward, all of those very good examples, but they are isolated from the mainstream to be able to influence the mainstream. We have tried to learn from this experience to extract the lessons and create a critical mass for change, ensuring that the metrics we develop reflect not just one vision, but the diverse realities of human development in our planet, because this is the other part of this diversity. And you know, Anton, when I was hearing you about graduation, I remember when I was in UNDP, in middle income countries were graduating and I asked, they are graduating from what to what? You know, what is the graduation about? So I realized that it was the old paradigm of north-south. Yes, they were graduating from the south to become part of the north, but this is not the reality. Yes, you know, there are diversity paths for development, and that diversity has also to be taken into account into what we do. And so Maybe my last point is that we are here not to abandon GDP, we are here to complete GDP. Because in a way that is a part of the lessons of the past. If you try to do a synthetic index that will abandon GDP or substitute GDP, you will end up in the same problem. We try to build metrics that capture what truly matters, the distribution of wealth, not just its sum total, the resilience of our societies, not just their output. And we learned this in COVID, yes? When we measure only by GDP that is flows, suddenly in one year, we lost one decade of progress. And so we were doing something wrong in what we were considering progress. Yes, there was no resilience in what we had achieved. And then we couldn't take the right policies to build the resilience of societies to confront a shock. And we measure sustainability of our progress, not just its speed. So UNCTAD is proud to be part of this alliance. The Pact for the Future has given us an important mandate on Beyond GDP as co-leads with DESA. And the Secretary-General has already established an independent high-level expert group to develop new measures to be presented to the UN membership, and we are part of that secretariat. So the journey from GDP to genuine progress begins today. It begins here in Seville with the leadership of Spain and the commitment of all of you, our partners. And at the end, this begins with us. Thank you.

Thank you very much, Secretary General. And of course, the other thing that GDP cannot measure, and I wish it could, is the sort of energy and determination we've been hearing in interventions like yours. So thank you. And speaking of energetic speakers, I'm very pleased to welcome to the, would you like to speak here, OECD Deputy Secretary General, Mary Beth Goodman.

Thank you all for being here. It truly is inspiring to see that on the fourth day after we've had so much happen here that we have a good turnout to really talk about this. It's no secret the world is facing growing fragility, inequality, planetary stress, and we can no longer afford to measure progress solely by GDP. That's what this is about. So I want to begin by thanking Spain. I want to thank UNCTAD. the Ibero-American General Secretariat, our CAF partners, the Development Bank of Latin America, Portugal, all of the partners that are joining in this effort to launch Beyond GDP as an alliance. The OECD is truly honored to be standing here alongside you. But what is this alliance? How does it align with our Seville commitment? This alliance is going to bring together governments and institutions that are united by a common purpose, to move beyond income as the lens through which development is seen. That is the simple premise. It is going to be very hard to do, though, because we're going to do it to integrate multi-dimensional metrics that better reflect people's well-being. as well as the resilience and sustainability of our societies and economies, nationally and internationally. This alliance responds directly to the Seville commitments call for more inclusive development cooperation, for access to development finance. It aligns with the Pact for the Future, which urges countries to embed beyond GDP approaches in both policy design and to guide resource allocation. This is not just about measurement, though. It is about reshaping international cooperation to meet the complexity of today's challenges and to reinforce global solidarity. The OECD is extremely proud to continue to work on this effort as an implementation and knowledge partner. Our work helps countries not only measure development differently, but to shape it more inclusively. As a contributor to the new UN High-Level Expert Group on Beyond GDP, The OECD is going to bring our long-standing expertise in multidimensional well-being, development in transition, and innovative finance. This alliance belongs to all of us. We need all of you to join us. This has to be the collective opportunity that we seize to co-create a way of looking at development, one that is based on the realities of development as it is experienced in people's daily lives. The OECD is bringing over two decades of experience in measuring well-being beyond GDP. We are thrilled that this is an evolving field and that more are joining this. Today we have, within our OECD membership, over two-thirds of our countries have now adopted national well-being frameworks, many developed in close collaboration with teams that are grounded in this OECD well-being framework. We actually also host an OECD knowledge exchange platform on well-being metrics and policy practice, which serves as a key forum for supporting countries in the integration of these multidimensional indicators into national development planning, budgeting processes, and policy evaluation frameworks. This development and transition approach that we are using, we're working to shift towards more equal international cooperation and to promoting a more nuanced understanding of development, one that reflects the non-linear pathways, diverse context, and structural vulnerabilities that are not captured by income alone. Finally, through our analytical work on multiple dimensional vulnerabilities, fragility and transition finance, we are highlighting and promoting understanding of the complex and evolving financial challenges that countries face. Yesterday's events, where we launched some insights, made one thing clear. The momentum is tangible. Countries have clearly expressed the need for change and the tools they have to make that change happen. Institutions have shared their readiness to support this alliance in practical, grounded ways. This alliance truly belongs to all of us. We hope that you will work with us to build together with the ambition, determination, and a shared vision for a more and inclusive, sustainable future. That's what we came to Seville to do, and that is what we are committed to continue doing once we leave Seville. Thank you very much.

Thank you very much, Marybeth. I'm personally looking forward to working with you on this as we go forward. And let us now hear from Lorena Larios of the Ibero-American General Secretariat.

Good morning. I wanted to welcome you all and say thank you for your energy, for your commitment to define the heat, being here, moving around in the heat, and for being here with us this morning. Thank you very much. Thank you for also for inviting the Iberian American General Secretariat. The generally sorry, the general secretary had to go back to Madrid. I don't have much time, but I wanted to highlight three important points. The first one is the general Iberia American Secretariat from 2021, Greensman's secretary will remember this, in the Andorra Summit, she manifested her interest in expressing herself on the multi-dimensional measuring of development. Such is the case that this interest kept on advancing, and in 2024, in the group for responsible for cooperation and here I have several of my partners in cooperation I'm going to ask you to raise your hands please thank you very much so in the group for the responsible people for cooperation we started to debate on the topic of multi-dimensional measurement of development, transitional development, and we had been moving forward until we got the Ibero-American Summit in Ecuador, where we passed an action plan that required from us creating, designing, formulating a positioning or a joint intervention precisely for this conference for development, financing for development. And it's such a coincidence that it's for Spain. And right now, Spain is the secretary for the Ibero-American Summit. In that summit, the secretary for the Spanish Agency for International Development Cooperation, Eva Granados, presented to different member states a joint intervention by the 22 countries in the Ibero-American community. This reflects the interest, the commitment, and the effort that we're putting in working so that we can incorporate a new metric, so that we can have a better scan of our countries, so that we can face this multi-head monster, which is inequalities. Second thing that I wanted to highlight that has a lot to do with this is the part of the narrative. From there, we see the importance of having this alliance. The narrative when it comes to cooperation for international development, and specifically in some topics, is not at its best time. We all know this. And creating the momentum through sharing this conversation and making it visible and raising our voices and talking about beyond GDP, it is very important so that we can contribute to a vision, ambition and new components to this narrative. It's a narrative that says that we're not going to give up and we're not going to allow it to take any step back. So I think it is a very important second point that I wanted to make because we needed to talk about it when talking about beyond GDP this morning. Third item that I wanted to talk about, precisely talking about visibility, this narrative, this idea is that's why in the general Ibero-American Secretariat, jointly with our countries, we're working in the creation of an index that's going to measure the cooperation from South-South. This is a work in progress still. We're still polishing it so that we can present it in a way that it is a useful tool for you, so that you can have a better, let's say, scan of how we can work with that cooperation, South-South, among which countries this cooperation happens, how, when, so that this reflects a better way that we can make projects that are more effective, that have an impact in sustainable development and social inclusion. From my part, I wanted to tell you that you can count on the commitment of the Ibero-American General Secretariat. We're going to keep on working with the 22 member states. And it seems that everyone knows what the secretariat is, but I just wanted to give a very piece of information. It's 22 countries, 19 are from Latin America, plus Spain, Andorra, and Portugal. And to close my exhibition here today I wanted to be optimistic I wanted to say that we we need to create this Alliance in this platform for Sevilla because it's going to incorporate so many initiatives it's going to incorporate so many proposals projects and projects and programs to make the international scenario for international cooperation richer it's more it's going to improve development so that the Ibero-American General Secretariat is going to be an allied. We are an important actor in this cooperation, South-South. We're working on it. And we have a report that is 15 years old already. And this is really a landmark. It's a benchmark of our work. So thank you very much.

Thank you very much. Thank you for staying and thank you for underlining the important role of Ibero-American countries in this initiative. As I say, we are running over, unfortunately. Secretary General Grinspun has had to leave us before questions. Let me not waste any more time and hand the floor to Giampiero Lancini, Executive Vice President of CAF. Thank you.

Thank you. And I'll be very brief. On behalf of CAF, Development Bank of Latin America and the Caribbean, we are delighted to be part of this coalition. And we wish to express our full support to the Beyond GDP Global Alliance. For us, it is not only a relevant agenda, it's non-negotiable. For our region, this is actually a development imperative because our shareholder countries are classified as middle or high income, but still face profound structural challenges, inequality, climate change. And the use of GDP per capita, of course, as a sole metric hides those realities and risks leaving too many countries behind. We are also deeply invested with UNDP, with ECLAC in measuring multidimensional poverty. That's also an important axis of our work. And we firmly believe that international cooperation must be based not only on income, but on development needs. We are really proud Being part of this coalition, this is not only symbolic, and we will give it concrete action. We are also part of the Ibero-American community in supporting the Ibero-American Secretariat. We are also having in the horizon the EU-Selac Summit in Santa Marta, in Colombia, in November. This is a very important opportunity also to build political momentum and align our financial strategies. So together with this group of committed countries and institutions, we are ready to lead a truly transformative path and we are contributing to redefine how we measure progress, allocate support and achieve sustainable development for all. So thank you very much.

Thank you so much. And sorry, I feel I made you squash your remarks down, but thank you. And let's turn now to our final panelist, Ambassador Florbela Pariba to talk to us about a related 4P initiative.

Thank you so much, dear friends. It is a pleasure to address all of you today. Portugal was specifically asked to speak here today about one of the main initiatives which is being promoted under the 4P umbrella, that is the Pact for Prosperity, People and the Planet. And this initiative is called the Roadmap for Better Inclusion of a Multidimensional Vulnerability Index. So let me share some notes regarding this topic. The 4P recognizes the multidimensional nature of vulnerability, including environmental, economic, and social dimensions, as well as the need to incorporate it into the eligibility and allocation processes for ODA and concessional finance. The 4P major guiding principle is that no country should have to choose between fighting poverty and protecting the planet, and that each nation should be empowered to pursue its own transition strategy tailored to its specific needs and constraints. The 4P roadmap will include two key components. So a coalition of bilateral providers of development cooperation committed to more effective integrating multidimensional vulnerability into their other policies and resource allocation networks. also a dialogue among multilateral development banks. And this is very important to have here the EFIs and vertical funds on a tailored approach to multidimensional vulnerability. Major international milestones in the coming months will be opportunities to support and contribute to the implementation of the 4P roadmap for a better inclusion of MVI, namely the COP30 in Belém in Brazil and beyond. Portugal is really very firmly supporting the concept of MVI, the MVI instrument. For us, the MVI represents a fair tool, and that was already here as underlined by other speakers, a means of promoting equity and justice in the international financial system. This is precisely why Portugal was and has been actively supporting and advocated for the adoption of the MVI within the UN. And this is also why we promoted together with the OECD the study on the gaps on development and how to work on them. So These discussions are specific, and these discussions here in Seville and everything that led to this moment that we have here. And again, I think that we all have to dar las gracias a España y a todos nosotros.

We all need to thank Spain.

In Seville, and we will continue very strongly working on this. But as I said, these discussions are especially pertinent for improving access to international financing for developing countries, with a particular emphasis on the seats and climate vulnerable nations. And again, this is a consistency that Portugal is supporting because we acknowledge their specific needs, although nowadays with the climate changes, I think that we are all, as Anton said, we are all in the same boat together and we need to take it to a safe shore. Thank you so much.

Thank you very much, Ambassador. We are a little over. We perhaps have time for one question, if there are any questions from the floor. If you'd be kind enough to identify yourself as well, thank you.

Thank you very much.

Just very briefly, I'm Hendrick Garcia from the Mission of the Philippines in New York, and I just want to say on behalf of the like-minded group.

For middle income countries composed of the following countries, Armenia, Belarus, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Jamaica, Lebanon, Mexico, Morocco, Namibia, Panama, Peru, Uruguay, and the Philippines.

We'd just like to welcome the establishment of the Beyond GDP Global Alliance.

We reiterate.

We reiterate our strong support to develop metrics beyond GDP that reflect well-being, equity, environmental sustainability, and structural vulnerabilities.

For middle-income countries, GDP alone cannot capture our development challenges, including inequality, climate risk, and limited access to concessional finance. So, as the Secretary-General of UNCTAD said, Development pathways and transition pathways of mix are diverse and filled with different challenges.

Hence, we really need to go beyond GDP to secure sustainable development journeys. So we will very actively engage in the Beyond GDP Global Alliance.

And also the Secretary General's High Level Expert Group.

And we look forward to working together. Thank you very much.

Thank you. I believe we could squeeze another one or two in if there are any questions from the audience. Perhaps over here?

Thanks.

Is it on?

It's on.

Okay.

Hi, I'll speak up. Hi, I'm Rachel Noble from Oxfam GB.

Very much welcome the introduction of this initiative. I was particularly pleased to hear Rebecca Greenspan reference women's unpaid care and domestic work, because 76% of this work is undertaken by women.

Two thirds of this work is excluded.

From, of women's work, all women's work, i.e. care work, is excluded from GDP. So I would just firstly urge that women's unpaid care and domestic work is foregrounded as one of the metrics. that is taken forward through this initiative so that it's recognized, it's valued, and investments are targeted towards care systems and public services in the way that's so urgently needed. In terms of my question, Beth, you mentioned that two thirds of OECD countries already have Beyond GDP initiatives. There are numerous other frameworks already existing around the world. What is it about this approach, this initiative that's actually going to shift the dial and enable these frameworks to meaningfully inform decision making and move away from this growth centric approach that has led to these huge levels of inequality and exploitation.

Thank you.

It's a great question. Is this working? Just in the interest of time, I'll jump up here. It's a great question. Thank you for raising it. We are currently working with the government of Spain and some of our other partners at the OECD to map out the various Beyond GDP initiatives that are already in existence. Thus far, we've already found a little over 70. That's a lot. So this is a body of work that has some history, but the problem with it, much like everything else, is we need consistency in the data. We need to have metrics and monitoring and evaluation practices among countries so that we can compare on like terms what we're seeing and where we need to develop more of the expertise and more of the metrics. So the process that Rebecca Greenstein mentioned, where UNCTAD is playing a leading role to coordinate the development of metrics and valuation tools to really bring some consistency to bear and how we look at this issue, how we identify the gaps that we still have and develop the metrics that are needed, because it's only when we can bring the data and the consistent analysis of this that we're going to make headway fighting against this constant focus on GDP, right? We've got to have data to fight the data, right? And so that is a big part of what this is about. And that work has already started at the UN. They've established this commission, and so it will start in earnest, I believe, early this fall. So we are in this fight. We'd love to have Oxfam in this fight with us as well. Thrilled by the statement from the Philippines about the mixed support, because this really has to be a coalition of all of us. We've got to be able to have the consistency in the data, because it is the data that makes the difference in shifting policy, and that's what we want to see happen.

That's quite a nice note to end on. Shall we wrap up here? Then thank you very much indeed to our panelists today. Thank you for coming along to this launch today, and I wish everyone a very enjoyable last day at FFD4. Thank you.

Play all songs of the Kapil Sharma Show. Yeah.

So we have to wait a little bit.

When I will tell you to stop it.

So it's working now. It's working. It's working.

Yeah. So that's, you can just push a stop on the red, on the post. Okay.

Oh, hold on.

Under this, yes.

Thank you.

Play all songs of the Kapil Sharma Show. Thank you. Play all songs of the Kapil Sharma Show. Play all songs of the Kapil Sharma Show.

Good morning to everyone. Thank you for attending this session. We're here to present one of the tech corporations that are integrated within the platform for SIBIL. This is a technical cooperation financed by the government of Spain in collaboration with the CAF Bank, Development Bank of Latin America and the Caribbean. We're here with Alicia Montalvo, the manager of climate action and positive biodiversity, CAF, and also Secretary General for Consumer Affairs and Gambling. Agenda 2030 is the government of Spain and the goal on today's presentation is to reflect and show the commitment of the Spanish government moving forward with the improvement of standards in agri-food production in Latin America. It will and it actually has a positive impact across different stakeholders. First of all, it allows us to reach and meet the climate goal challenges and improving biodiversity. Adapting the international standards at EU level allow us to take care of health, being health, one health, a global health. this one health system includes our ecosystems, people and animals health. So this is a key dimension moving forward for climate change and protecting biodiversity. Additionally, it also improves the production models and consumers, given that we reduce the production with the use of PPPs, also improvement on residues management, and also improvement on local producers support. We need to make sure that we have a fair and green transition that is aware of all the inequalities that arise around the world in order to preserve this technical cooperation. This is a key model in order to move forward with the green transition goals. And this is one of the main progresses that arise after this fourth International Conference in Financing for Development in Spain, together with the Social Rights, Consumption and Agenda 2023 Ministry and the Ministry of Economics, Commerce and Trade, together with the Government of Spain and the collaboration of CAF, the Development Bank of Latin America and the Caribbean. This technical cooperation aims to improve the models of control and production of agri-food products dedicated for export, particularly in Latin America. This model allows that international standards can be integrated in our production models in these countries. The Spanish Agency for Food Safety and Nutrition is going to have a very important role and leadership trying to bring knowledge, detect capacity, knowing how to adapt to a model that is going to bring positive effects across every country. Of course, this entails a certain transition and also to improve the production models. For that, we need financing, of course. We need to bring financing by the different developed countries have also contributed for the causes of climate change in order to make sure that other countries are equally including this standard. But also, we need to divide our costs. need to divide the additional effort that we need to make in order to guarantee that we have a green transition. We make sure that we are complying with the sustainability goals, but without forgetting social equality. We're going to have eight countries in total that are going to contribute to this together with CAF, Colombia, Chile, Ecuador, Argentina, Brazil, Uruguay, Paraguay and Venezuela are going to be the countries that will benefit from it. This is a technical cooperation that will allow us to finance different sustainable development projects across countries. And the goal of this is to put together all these models that are moving forward to take care of people, our planet, and also take care of our ecosystems. This outlook and vision, they try to strike up the balance between health, nutrition, and of course social equity goals when dividing the cost of a green transition. I'm going to hand over the floor to Alicia Montalvo so she can further talk about the challenges existing in Latin America. Alicia is working or based in Colombia at the moment, which is in this country that is at the forefront taking up different challenges, different challenges regarding transition in the production models, and I'm pretty aware that having her, yeah. in this continent and on behalf of CAF, will allow us to embrace the alternative production model in order to have a strong collaboration with the Spanish Agency for Food Safety and Nutrition. Also, we have the executive director of this agency, and this is going to be one further step to consolidate this model. model that aims to support development, trade and moving forward with the sustainable development with all these benefits. Thank you.

Thank you, Andreas. At the Caixa Bank, we are highly committed to become a green bank together with the support of Spain, which is one of our main stakeholders. Also, we're receiving technical cooperation resources in order to enhance having green projects in order to face climate change and also to protect our biodiversity. 41% of CAF financing and investment is already green. This is a huge challenge and a huge achievement. This was the 2026 goal that has already been achieved. And having resources that allow us to identify new opportunities in all the sectors, such as the agriculture sector, which is a key sector in terms of environment, is key. This technical cooperation is the very first one within some funds enabled by the Spanish government. 4 million euros were invested. And we are very happy to allocate all these resources for this key sector. First, because it is a highly vulnerable sector affected by climate change, which is suffering a lot. And also, they are contributing for climate change and loss of biodiversity due to deforestation, as we know, which is a huge problem that we have in Latin America. Within this technical cooperation, we believe that it is very important to aim to allocate resources for Latin American, Caribbean, and the Caribbean in order to become, to be part of the international markets, to have agricultural and livestock products that go along with the, European regulation in terms of agri-food production. And this way, this will allow us to create a roadmap moving forward. There is an agri-food transition, as you said before, in Latin America. There's still certain inequality in general, but in particular in this sector. The region produces food for 1.3 billion people. This is a great producer and a great exporter, but he also will export raw products. and some of the profits from it do not stay in the region because of it. And also there's a huge problem regarding starvation and food safety. Many people do not have access to a healthy diet. Around 30 to 50% of people do not have access to this healthy diet lifestyle. This is a very high percentage and as a development bank, we need to work in order to address it. We have approved a livestock and agri-food cooperation strategy. This is going to have a very important impact along the sector value chain, the profits after agricultural and livestock production from Latin America and the Caribbean on the fruit and vegetable sector, but also the meat sector. This profit will be linked to all the improvements after adapting to the European regulation and thus all these profits will be divided into the whole value chain across the whole production. 80% of our production are farmers and this will be divided into the whole production chain until exporting into international markets. Through this technical cooperation we will be able to First of all, run a diagnosis. Where is Latin America standing regarding these regulations? There's a huge gap ahead and we need to know to what extent we can address it. This is why, first and foremost, we are running this diagnosis. Technical cooperation also entails training actions. the European regulation, we've seen this as a threat or rather as a protectionist barrier, but we see that we need to work together for the benefit of a global environment and production and the world's population. So it is being understood by greater producers of cocoa, coffee, palm tree. Greater producers are still there, but there's still a lot to do in order to train and raise awareness on these regards. The second axis is based on training. We are going to have a regional platform to interchange information. And the goal is that these nine countries that will be heavily affected by this will be able to interchange ideas, to get to know what are the requirements and needs. The third objective is to run a pilot project, to work on the specifics, to identify what we need to do and how. Our goal as a bank is, um, that this becomes a reality, a project that allow us to make, uh, this real transformation across countries. Our ultimate goal with technical cooperation, we want to create a roadmap regarding sustainability. We want to work together moving forward. With this component, we will set up the foundation to better understand what our challenges are so we can work together hand in hand, shoulder to shoulder with the government of Spain and the Spanish Agency for Food Safety and Nutrition. Our goal is to protect people's health, but also the planet. Thank you.

Well, as you said, this is a technical cooperation that relies on four main pillars. The very first one is food safety, as we said before. Previously, we had a session where we were able to highlight how important it is to put together these two concepts, food safety and food security, the food and also the food availability across all regions. to fight against starvation. We still have some regions where starvation is still a problem. And one of the sustainable development goals is to finish with this. And this is an objective that we need to embrace in order to move forward. And there are some pending tasks in some countries in Latin America. This is a huge problem. But also malnutrition is a problem because some products are not complying with some health standards, but the Spanish Agency for Food Safety and Nutrition is showing that this is the best way in order to avoid, in order to help other countries in embracing all of this. In Latin America, we have some countries that are moving forward towards this direction with food policies that are very ambitious. We want to improve our food system, we want to avoid children starvation, and we need to see what are the production models that put together these two objectives, taking care of our environment, taking care of our consumers' health. And of course, this will have a positive impact on our local production systems. This is a goal that we need to unlock, kind of. This, of course, requires an effort from international bodies and countries such as Spain that aim to bring financing in order to meet these goals. As Alicia said before, this will be possible thanks to the Spanish Fund, the Development Bank of Latin America and the Caribbean. Food safety and security is one of our main pillars, but we always need to be in mind what is our objective to improve the food trade systems between the EU and Latin America. In order to make this development possible, and where we can see the world where all populations can take a profit from it, we need to have sustainable trade, fruit trade systems that have in mind always the environmental impact, considering the local production systems and also the impact on our consumers' health. This is one of the models that we wanted to bring here. This is a new way of thinking about our food trade, trying to, and fostering development. This food trade model needs to include these two pillars in this cooperation in order to make this possible. First, biodiversity and sustainability, and secondly, cooperation. When talking about sustainability and biodiversity, we're talking about a new way of producing that, of course, needs to be in mind what is the impact of use of PPPs. drugs or the residues generated by all agri-food production practices. As Alicia said before, we have deforestation, which is a huge problem, and also soils are suffering certain pollution due to the fact that they try to exploit a model that is not sustainable in the long run. have learned this across countries and this has required us to adapt our regulation, our way to produce and protect soils and environment. And if we make it possible in order to go forward and adopt it across different countries in the world, we will make it possible to make sure that we reach the biodiversity and environmental goals in the long run in order to have a positive effect across countries. This cannot be possible without a pillar based on international cooperation. Why? Well, when we talk about exploited soils and deforestation in those countries that have allocated certain resources for the export of goods towards developed countries, And of course, this has had an impact on lower price of products with negative effects in these countries. We need to bear this in mind, of course. And we need to be aware that we need to bring financing across countries, such as Spain, in order to make this transition and costs, to make sure that we divide all these costs. And in order to make sure that we define the standard production levels, you know, to make sure that this is not a barrier in order to adapt these systems, taking care of the well-being of our consumers and taking care of our biodiversity in these countries.

I think that Of course, our interests are shared, but we have a different perspective at this moment. From the EU, we want products to meet these standards from the health point of view, but also protecting our environment. Of course, this is a demand that is totally legitimate. But these countries that supply these products do not have enough capacities to make sure that exportation is produced in the terms that are defined by the regulation and required. But of course we want to have an agri-food and livestock production that has high quality. However, we need more resources. So we have similar interests, but the starting point is a little bit complex. And of course, we need to allocate new resources for that. Technical cooperation is paramount. This is a previous step when embracing new development and industrial development policies for which, of course, is very important. It is very important to work with our raw materials and commodities in a very equitable way. We have talked about raw materials and agricultural products and also raw materials. And We need a new industrial and innovation policy. We need to have new institutions engaged in this process. And as you said, regarding the food trade, we need to have a total integration at regional level, too. In Latin America, despite being a great exporter of food products, our food trade system is pretty much low. So we need to consider all these factors cross-sectionally across all the development institutions. We have a great role, CAF, being in this regional institution. We have a lot on our plate because we have this perspective close to the countries and we know what our challenges are. This technical cooperation is the very first step. We want to allocate 8.2 billion on credits for the agricultural sector next year, and one of the roles of this is going to improve the system in order to make sure that our products have better quality to make sure that we can export them with the best quality. So again we have this same interest but also we need to move at the same rhythm. For that we need technical cooperation techniques that are key of course. Thank you.

Any question from the audience? Would anyone like to ask a question or anything to add? within this technical cooperation.

Well.

The First and foremost, congratulations for the initiative. It is addressing a very important problem with a very holistic way. Sustainability, public health, third trade. And I wanted to ask you about these initiatives. in a model where multilateralism is in a crisis. Do you think that these policies will allow us to reduce this turmoil, this tension, in order to make sure that countries are committed with that again? Or is this another brick on the way and there's still a long way to go?

Well, this is a clear example on our commitment for multilateralism. And we have a very specific goal, specific, uh, progress that are tangible. And after this conference, we will have traceability on what happened with this technical cooperation and financing, as Alicia said, with all the billions of euros that they're, um… investing in order to make this agri-food sector investment possible. This wouldn't be possible without multilateralism support in order to unlock any progress towards the right direction in order to fight against climate change, also to guarantee a better improvement on nutrition across the globe and also to, well, care for our biodiversity. So, a model that is not committed with this vision, a model that is not considering the global consequences of our production and food trade products, a model that is not committed with these crucial institutions such as the UN or the development banks such as CAF in this particular case. This will allow us to coordinate policies to be coordinated towards the best direction with highly ambitious goals for the challenges to embrace today. This is the only way to address key changes such as climate change. We will make it possible with specific progress. Last week, the Spanish government is going to finance production models in Latin America that are more sustainable and that aim to foster this international cooperation view, which is of course crucial.

Well, the multilateral body like ours, these initiatives seem to be small, but they are a leap or a step forward, especially where the technical resource investment are decreasing and we are heavily affected by this in our region. Some of the technical cooperation that Latin America received came from greater donors that decided to cut this investment. At CAIF, we are very happy. We always talk about the north to south cooperation, but we also talk about the south to south cooperation. We are part of the global south region, and some of the technical things that we use come from our own members. So this is why we are so thankful for this. But normally, resources come from the shareholders' countries in CAIF, which are part of our region. Our model to collaborate and cooperate is highly interesting. The region is committed to the region itself, but whenever we have certain requirements coming from international regulation. It is very important that other countries take one step forward, say, and that they want to support this transformation. We're very happy to do this and sharing this today in Seville. This is very important regarding technical cooperation. Technical cooperation plays a very important role on diagnosis, data, preparing for projects and training. Sometimes we say that there are no resources, but we need sometimes the basics, you know? information and institutional bodies. This is crucial, actually. This is one step forward and possibly we will have more steps to take, right, Andres?

Yes, that's the commitment on behalf of the government of Spain in order to support and increase financing for development. particularly in a model where this financing is more important than ever. And some countries are not committed to embrace these challenges. They don't see that the only way to address starvation, malnutrition, and climate change effects will only be possible thanks to multilateralism and cooperation. And it is very important that we allocate all these resources and all this money. It is allocated for a specific progress, as the progress that we are presenting here today. Thank you.

Any other question? All right, then. Thank you very much, Alicia. It's been a pleasure. We are in closing the technical cooperation presentation. And as you know, in order to follow up specific actions in the Action for Civil platform, this is one of our commitments, not only to move financing, but also to be committed on tangible financing follow-up. And this is a great opportunity and we will keep you posted in the upcoming months. Thank you very much.

Thanks to you.

Play all songs of the Kapil Sharma Show. Play all songs of the Kapil Sharma Show. Play all songs of the Kapil Sharma Show. Play all songs of the Kapil Sharma Show.

Hi everyone, neck and check. Testing, testing, one, two, three, testing. Testing, testing, no testing. Can you hear me? Oh. Good afternoon, everyone. Can you hear me? Testing, testing. Five, six, 7, eight, nine, 10. Yes, you can hear me. Great. So, I think we are going to start in about one minute. We have other invitees just arriving. Good afternoon again, colleagues, and thank you for being here with us. My aim is to project my voice. I know I'm competing with several things happening all around, so hopefully my height is not an indication of how low my voice will go. So welcome to the Development Bank for Resilient Prosperity. initiative presentation. As you know, as part of this conference, UN DESA and the government of Spain, they have selected a number of initiatives that align to the severe platform and the Development Bank for Resilient Prosperity or the Nature Bank aligns very well with what is in the severe outcome. Over the last few months, the bank, public foundation, and other colleagues, we have been actively taking part in the preparatory sessions leading up to where we are today. And I want to start first by saying that my generation and the generation after me, we're not patient. We are tired of talking. We're tired of hearing about what can and cannot happen. And earlier this week, I got a few chuckles when I said, we, the global south, we, SIDS, we, professionals, we do not want to come back to a conference 10 years from now to discuss the same thing. We do not want to be in the same rooms, the same actors, to only get the same result. We are here to shift the paradigm, not to decorate the status quo. Not to decorate the status quo, not to stroke the egos of institutions, countries or people. We want real results. Throughout this week, we have heard a lot of that. People asking for results, but will we act? When the time comes for our institutions and our countries to say, let us do it. Let us move the needle. Will we do it? And I think we have a group in here today that we are all committed to doing it. We have a number of panelists representing various institutions with us. We have from the public foundation. Sergio Fernandez de Cardova, who's the executive chairman. We have Nicholas Pichitino. I hope I did not do your last name the service, Nicholas. And Nicholas is representing the IDFC as its general secretary, as well as head of public development banks at AFD. We have Dr. Ruth from the Commonwealth Secretariat, and Ruth is the senior director for economic development, trade, and investment. We have our colleagues joining us from different countries. We have our Deputy Permanent Representative from the Kingdom of Tonga, Leonat Singh. We are expecting the Director of Finance from Saint Lucia. We have Mr. Kitan Patel from Force for Good Initiative, and we'll hear a bit more about the work that Kitan and his group are doing. And then, of course, we have the executive director for the Development Bank for Resilient Prosperity, Jeanne Leal. I now want to hand over to Jeanne, who will present to us on what exactly is the DBRP and the Nature Bank and why was it selected as an initiative for this severe platform and how will this initiative not just talk a good talk but really let us start seeing actions not just in small island developing states but in vulnerable economies. Jean.

Thank you very much, Ashaki. Can you hear me? Yes. So, as Ashaki has said, the Development Bank for Resilient Prosperity, the Nature Bank, proposed a initiative that would effectively address some of the issues that we are grappling with in the global South under the need for finance for development. And we have been selected as a lead implementing entity to drive this initiative forward for the next 10 years. So what I'd like to do is to summarize for you a snapshot of why we are here and what we intend to do before the panelists discuss the initiative. So to set the context, we live in a world of contra distinctions and polar opposites, north and south, flourishing and destitute, living and extracted nature. All of this, the outcome of conscious decisions we have made in the past. I propose we can rewire or change all of these by making intentional decisions for the future. Why are we saying this? At the global level, We consider glaring inequalities and inequities, ecological degradation, social discord, and a fractured multilateralism as the polycrisis of today. At the less developed countries level, we cite lack of voice and representation in multilateral decision making, low access to affordable finance, mostly because of high perceived risk and little integration of vulnerability and resilience in policy frameworks are some of our key problems. I say these are symptoms of a system in crisis, a system in crisis. And we can understand this if we consider the following question. Why should we count growth as a success when that growth is at the cost of inequities, when that growth is at the cost of depletion of planetary resources and its ultimate sustainability, when that growth is at the extent of the loss of the fabric of societies, when that growth is at the cost of economy, a planet that is disintegrating, degenerating at exponential rates. I suggest we need to query what exactly is success. Today's system in crisis suggests that the existing model is not fit for purpose and in need of an intentional system redesign. It suggests a need to reverse the status quo. The status quo is one of an asymmetry where we observe things system-wide, but attempt to solve them in pieces. Instead, therefore, we propose a new paradigm where we observe system-wide, we solve system-wide, but we implement in parts. subject to two key elements, which are coherence and consistency of the system over time. In other words, we need to treat our planet, treat our economies as a systems control approach, namely the way a systems engineer would design an engine and fine-tune it through learning and adaptation to generate maximum power and effectiveness. I therefore propose we need a new measure of our future reality, one we have called resilient prosperity. And to do this through a beyond GDP-based approach that uses productive capacity namely produced capital, natural capital, and human and societal capital, as the metric that grows the planet's balance sheet. And that is the departure we need to think about. It is the balance sheet of the planet, not the use of resources that deplete the planet's assets under the guise that we are having growth. So at the core, therefore, what we need is data. We need indicators of progress that need to be multidisciplinary. They need to be evidence-based policies that can track pathways to mission-oriented anchors on well-being of people, resilience capacity of economies, and the ecological stability of the planet. So this is the transformation process that we propose in the Nature Bank. And what I want to do to set the stage here, given this context, is to highlight three elements that make up the solution of the DBRP. The first is we need to augment what we have. Augmenting what we have says let us retake that which we have not recognized, and that is making nature an economic asset. And so we need to invest in and preserve natural capital by proactively preserving and regenerating natural assets like our seagrass, coral reefs, mangroves, forests, watersheds, and equally proactively building human capital. It is through this we will transform less developed countries from land only poor states to natural asset rich states. The second point we need to do is to do more with what we have. And doing more with what we have says we need to restructure the financial system to reward system resilience. In other words, make resilience the new risk metric. How we price and value, how we allocate risk, and how we measure returns. And one way of doing this is to promote an interoperable financing ecosystem to better serve the system-wide solutions that I talk about, building on the proposal of a public development bank system, as has been proposed by the Financing Common System. And that includes structured partnerships among multilateral development banks national development banks, other financial intermediaries, and regulatory and compliance frameworks that can leverage local knowledge and origination and optimize local capacity building. It involves designing and deploying innovative financing that addresses the vulnerability and resilience capacity issues that less developed countries face, in particular, state contingent and performance based instruments that adjust based upon outcomes to smoothen the risk curve. It involves augmenting the financial asset boundaries that we use. For example, why can't biodiversity credits not sit beside bonds in central bank portfolios, which is not allowed at this point in time. The third area that we are highlighting is we need to improve institutional operational functioning. And to be able to do this, we need to integrate technology and capacity building to lower risk and increase project readiness. Second, We need to shift from financing projects to financing systems and use in that process cross-sectoral tools like integrated assessment models, climate vulnerability indices, and natural capital registries to allow for this increase in operational functioning. So for an example, Instead of just funding a single marine project, which obviously has high risk and limited financial return on investment, why do not we fund a resilient coastal economy, which is an integrated investment programme that can be implemented in structured phases but would link fisheries reform, sustainable agriculture, mangrove protection, freshwater management, community stewardship, ecotourism, digital technology, renewable energy, and skills training in one single investment ecosystem. And the benefit of that is it leverages a lower diversified risk and higher financial and societal return by simply treating this as a program. So this is the role that the Nature Bank is designed to play. In other words, a platform for rethinking the very logic of development finance, using nature, data, and a systems coherence approach as our starting points and not as afterthoughts. With this introduction, I'd like to hand over back to the emcee for the panel discussion.

Thank you so much, Gene, for presenting. What is this nature bank? What is it about? How is it going to move the needle when it comes to vulnerable economies? landlocked, low-lying coastal countries, small island developing states. I now want to invite Sergio Fernandez de Cordova, Kitan Patal, Nicholas and Dr. Ruth to come forward on the stage. Please, you can sit here. You can sit. Have a seat in any order. I'll ask one question to you, one question Colleagues, we want to thank you for being here. We know it's been a long week. But I think we're closer to the end, and they always say save the good thing for last, right? So here, we have a few of our partners persons who have been with us on this journey. And I want to start first with Sergio. And Sergio is the executive chairman of the Public Foundation. Sergio Public's role in catalyzing global partnerships, supporting the design and advocacy of the DBRP. Why is Public supporting the DBRP? And I think that's a question that you have gotten over the last year, once Public came in as that fiduciary for the bank. Sergio.

Thank you. Thank you, Shaki. For the work that we do at Public Foundation, we believe in four pillars of nature, capital, technology, and multilateralism. And we believe that the Development Bank for Resilient Prosperity, as it's known today, the Nature Bank, isn't just about another bank. It's about filling the blanks and looking at nature as an asset class, looking at how we countries don't have the tools today, but yet they have the resources. Countries today already have nature, land, ecosystems, as Gene's already pointed out, but not the infrastructure to actually leverage on what Beyond GDP could do and other ways of tokenization that could actually drive new economic models of the future. So to us at Public Foundation, we believe in building infrastructure, infrastructure that lasts, and also helping small island countries and least developed countries and landlocked countries utilize their infrastructure to help build their economies and build a true sustainable development for their future.

Thank you, Sergio. I'm now going to go over to Nicholas. And Nicholas and his team, they have been for the last five years looking at an integrated public development system that Gene mentioned in his earlier remarks. And Nicholas, as Gene outlined, the role of DBRP is to advance the finance and common agenda, how public development banks can work together not compete against each other, but working together, complementing each other to transform the financial architecture. And AFD, you have been leading that charge with finance in common through the leadership of Remy Roux. What does successful coordination between public development banks look like? We see it mentioned in the severe outcome, but really, what does that mean? Nicolas.

Yeah, thank you so much.

And again, congratulations for the creation of the Nature Bank that really fill a gap. And this is why the Finance and Common Coalition is supporting it. You said it quite rightfully, Zahi, but it's important to have in mind that in the Compromiso de Sevilla, if you compare it to the Addis Ababa agenda 10 years ago, the major change is the recognition of the importance of the public development banks becoming systemic actors where they were only tools to implement public policy. So, of course, the objective of those two coalitions, to IDFC, 27 public development banks, 800 billion of financing, among which 200 billion are green, and 536 public development banks within the finance income and community with 2.5 trillion of investments every year. The objective is to build on complementarities. And in the compromise of the Sevilla, you have two important paragraphs, at least on our side. first one being paragraph 30, in which they highlight the importance of the national development banks to implement country-led strategies, and maybe more importantly, the 37A, in which there is an impulse to better work at the system, building on the comparative advantages of those public development banks. What we see also is that Even if we are trying to finance more and more nature and climate, there is a huge gap to be filled. And this is why this nature bank is so important within the community. It's based also on local knowledge and all the small islands that face maybe more importantly the climate change. And so, of course, those coalitions and the working groups we are working we will support strongly the creation and the work of the Nature Bank. Thank you.

Thank you, Nicholas. And I think now is a good time to hear from Ruth. And Ruth represents probably the largest intergovernmental body that most of their membership comprise small island developing states, or what they like to call large ocean states. Ruth, is the senior director responsible for debt and trade. And Ruth has been with us since the very beginning when we spoke about a SIDS bank. And Ruth, I want to hear from COMSEC, the Commonwealth Secretariat, on how you view this nature bank within that grand system of whether it's helping countries to reduce their debt. helping countries to move the needle when it comes to their prosperity. Ruth has been doing a lot of this work with our countries and we view COMSEC as one of our key partners with the implementation. Ruth.

Can you hear me?

Yes.

Is this working? Okay. Thank you, Ashaki. Now, let me start. I'll be brief but I'll I want I have to highlight some things. The Development Bank for Resilient Prosperity is the newest kid in the block. this idea evolved about two years ago, they have progressed rapidly and have already secured what, over 70 members?

We wish. A lot.

Yes.

A lot.

In under two years. Yeah, over. You can tell me the exact numbers. I'm just saying this off the top of my head. I want to say new kids are both competent and cool. The cool name of Resilient Prosperity comes from the UN CIDS IV held in Antigua and Barbuda last year with the goal of achieving resilient prosperity for our small island developing states. Another cool focus of BBRP is the focus on natural capital, and I think calling it a nature bank is even cooler. And I must say that King Charles now, formerly Prince Charles, and I want to use the phrase Prince Charles, for decades has been working on the value of nature and its protection. So I'm really, I can say, COMSEC, but also the King as its head would, I'm sure, be very happy with this idea of the Nature Bank. Secretariat has been involved with this idea since its inception two years ago, and we will continue to support in our collective efforts for resilient prosperity for a Commonwealth family. So I want to touch upon some things that Jean mentioned. Why can't we found resilient coastal economy rather than single projects. Now, this is something that we've been trying to focus on as well. The return on investments will be enhanced and it will initiate and it will encourage more investments by doing these regional projects. And so you're hitting the nail on the head. And like Nicholas mentioned, you understand these issues very well and hence you're best placed to be working in this perspective. And you mentioned debt, Ashaki. So this year, 25-26 has been announced as, or we are marking this year with the Commonwealth Secretariat's 40-year work on supporting our member countries on monitoring and managing our debt. So this year is being celebrated or marked the year of innovative, sustainable and resilient debt management. And I think we will have common synergies to discuss this more in terms of what your focus will be on that. And we are with you and we will be supporting and collaborating with you throughout your journey. Thank you.

Thank you, Dr. Ruth. And very good to hear about us not just working with Comsec but complimenting the work that you are doing in countries now. And I want to go over to Kitan Patal. Kitan is the chair of Force for Good. And you know, it's very important for us to look at how we engage with the private sector. A lot of persons speak about it, engaging with private sector foundations, philanthropies, but sometimes that engagement looks differently. And what we have been doing with Public Foundation and the DBRP is trying to, I want to say, create a new model, a model that recognizes that all partnerships are important and should be at the table from the very beginning. force for good tracks, trillions and capitals, pushes towards long term purpose. And looking at market transformation. What is one concrete change that would align capital and resilience? Not just looking at return, not just looking at the fact that some of these projects are in the traditional sense may be deemed as high risk. But how do we make that change to align capital to the needs of these countries and initiatives.

Thank you. So with an investment hat on, I lead an investment firm too, we look at risk and return, of course, and the world has shifted towards a greater emphasis on getting the returns for risk. At the same time, people want security. And so capital has shifted in large amounts towards security. But people also recognize, of course, that technology is the enabler of this huge change we're about to enter. And so capital is also seeking returns from technology. What I like about what Eugene has proposed and this initiative is that it touches all of these. It touches the idea systemically of looking at risk and return, it looks at the idea of security, and it leverages technology to deliver. So in that sense, the idea sits in the right place. I think what has helped this initiative in some ways is the world as disrupted as it is today. The risk equation has changed, and the global north is far more risky than it was. Those of us that grew up in the rest of the world, and I grew up a little bit in both, We're used to seeing scenes where the rest of the world saw political, economic, social, military risk, people snatched off streets and so on. And that's happening in the global north, and it's happening in the most powerful country in the world. So as a result, this risk equation has changed quite dramatically. The global north is far more risky today than it ever was. I don't think that's been well priced in to everything yet, but it will get priced in. And I think the opportunity for the global South is to look again now and say, how do we reduce the risk, make systemic changes so that capital can flow? Because the stock of capital still sits in the rest of the world, in the global North, and it's about $500 trillion. I wish we could attract that, but we don't. But we understand where it sits and how it flows. And for it to flow to the global South, that equation has to be changed. And the big shift is, can we properly account for how we make our returns? Today, we have a system that excludes many factors, particularly ones to do with nature and accounting properly for environmental impacts. If we account for things properly, I think we'll find that there is an enormous opportunity in the global south, where there are so many natural assets. To do that, policy change will be required so that that capital can flow. And I think what I'm excited about in this endeavor that Public have hosted and Gene is launching is that they see that completely. They see nature as an asset class and one that can be priced and one that will affect the valuation of everything else. In that process, I think what we'll see is that the things that we think are delivering a return today, the largest of companies aren't. they're actually not very profitable when properly valued. And so the opportunity is to level up by changing the risk profile of the South and making it easier. And I think this can do that. And I'm excited to support it.

Thank you, Keaton. And I know I'm getting looks from at the door because I know we are running out of time. But I just wanted, because I saw Ruth making some notes. So Ruth, I'm not sure if you wanted to come back in or if anyone on the platform wants to come back in before I invite Jean and Leonardi to close us off on this section of the show.

I had one thing that ties this together. I think what Ruth has pointed out, though, is that there is a network called the Commonwealth, and it's a powerful network. And if it can be used as one of the backers and hosts for this bank, you end up with a large chunk of humanity working together to see if they can introduce change. And it's a powerful platform.

Thank you. Sergio.

Also, I just want to point out, it's actually been 12 months, 13 months since the CIDS 4, which is in May, and which actually goes to prove a cool fact, right, that all countries and why we're here, we need action, we need change, and we need to account for everything. And if we're going to worry about climate, we need to worry about nature.

So I just wanted to connect all those dots as well. Thank you.

Thank you, Sergio. Thank you, Nicholas, Ruth, Kitan. Thank you for being on this journey with us. Many of you, I think all of you on this stage, you were there at the very beginning when this was just a small idea, no, it is no. Jean likes to say we have now taken it to the galaxy. So it's no longer a moonshot. So thank you very much. And I now want to invite Jean and Leonazzi to come forward as we close off. Thank you, panelists. Yeah. Yeah. As we close off, there are two final statements that we'll hear. We'll hear from Tonga and the Kingdom of Tonga. They were the first country to sign the letter of commitment at CIDS4, and we'll hear from their perspective why this is important. And then we'll let Jean have the final word on, in the next five years, where does he see the Development Bank for Resilient Prosperity? Leonazi.

Thank you. Can you hear me? Thank you, Asaki. Thank you, Asaki, for this opportunity to speak on behalf of the Kingdom of Tonga. Excellencies, colleagues, friends. Tonga was honored to be the first signatory of the Development Bank for Resilient Prosperity. Why? Because we live this reality every day. From rising seas to devastating cyclones to the 2022 volcanic eruption and tsunami, we have faced the full force of nature. And yet, The system does not account for the value of what we lose or the resilience we show. That must change. For small island developing states, the current financial system is not only outdated, it is unfair. It rewards size, but not vulnerability. It values extractive growth and not regenerative potential. Tonga and other seats are asset rich in nature, culture, and community, but we remain capital poor because the system does not recognize our worth. The DBRB is a bold and necessary shift. It redefines value, it acknowledges that mangroves, reefs, Forests and seagrass are economic assets, not just scenery. And it puts seats like Tonga in the driver's seat, not just as recipients, but as co-creators of a new development model. We must not just benefit, we must shape. If the matrix do not reflect us, the solutions will not serve us. Tonga is proud to stand at the forefront of this new paradigm where resilience is rewarded, not punished, where natural capital is bankable, and where development means dignity, security, and sovereignty. This is not just about Tonga. It is about every frontline country. The DBRB is not a treasure. It is a generational investment in justice. Let us build a financial system that does not collapse on the crisis, but attempts, protects, and empowers. The Pacific is ready. Seats are ready. Let us shape the future. I thank you.

Thank you, DPR. As the DPR mentioned, Kingdom of Tonga, they've not only been one of our champions within the Pacific, but also within the UN system as well. And I want to give the final word to Gene. And Gene, we talk about the Bank today. Where do you see the Bank in five years?

Thank you very much, Ashaki. To be honest, I don't think I could have closed where the bank will be in five years better than the summary just given by Leonazzi. It really has given us the blueprint, the roadmap of what we would like to see as our end product. And so rather than give you a definitive statement, I think I want to highlight what we see on stage. It is the power of partnerships. Partnerships at the level of countries, Commonwealth Secretariat, maybe the most powerful democratic, let's say, union that exists on the planet today. The power of private sector, data, technology, transfer potential to drive development through both public foundation and equally my good friend Patel, but also partnership of the capital markets. As he said, he wears equally the hat of an investment banker. And so it is how you mobilize finance. And before I even say how you mobilize finance, let's not also forget the empty chair, finance in common. 25 trillion assets invested, 560 plus public development banks that together invest five times the amount of your multilateral development banks, including the World Bank and the IMF. Global level providing that support infrastructure to help drive the vision of the Nature Bank. And importantly, to solve as a byproduct, our greatest problem today, the ecological degradation of the planet and the missing people component of well-being that is existing now at the cost of the search for income by embracing a beyond GDP metric. I think it is when you put those together, you see the power of what we are trying to achieve. And so in the next five years, I would want to be able to say, let us at least transform or begin the transformation of Tonga. can come back here in five years and say Tonga has made progress in each of those dimensions. And I'd like to also say not just Tonga, but if after five years we have at least one country a year that has made progress, let's put five on the list, then I think we would have said we've made progress. And by the end of FFD4, By the time we get to FFD5, I'll say we are no longer in a linear world, but an exponential, non-linear world. We would have moved the number from five to maybe 50 countries that would have started and made progress along that journey. So that's the goal we would like to do for the next five to 10 years.

Thank you, Jean, and we are gonna hold you to it. I see we have Antigua and Barbuda, we have Jamaica, we have Tonga. So, the member countries will hold you to that. Thank you so much, panelists. Thank you to the public foundation, the Commonwealth Secretariat, Force for Good, Agence Francis Development, and a number of other agencies that have come to take part in this initiative today. Thank you so much.