(7th meeting) Preparatory Committee for the Fourth International Conference on Financing for Development, Second Session

Applause to the distinguished representative of Singapore, who is going to speak on behalf of the Group of 77 and China.

Thank you, Chair. I speak on behalf of the Group of 77 and China. The group thanks the co-facilitators for their work on this section of the elements paper, and we take this opportunity to reiterate some of the group's submissions in preparation for the zero draft. The group reiterates that the gap between risk perceptions and actual risk can be bridged by utilizing good data, which is critical for enabling SDG-aligned investment. We thus encourage the use of innovative data collection methodologies, technologies, and sources for developing policy-relevant information, which provide opportunities to generate real-time information and complement official statistics. We must continue to strengthen efforts to collect, analyze and disseminate relevant and reliable data disaggregated by sex, age, disability and other characteristics relevant in national contexts to ensure greater data accuracy and comparability and for better monitoring and policymaking. We note the recommendation in the Elements Paper to strengthen national data systems and their governance and enhance coordination on data. In addition to those, we should also call for strengthened investment in and collaboration with national and international statistical agencies, including through public-private partnerships, and pursue interoperability where appropriate between voluntary non-financial and sustainability data by the private sector to encourage robust data on private enterprises' impact on the SDGs, while reducing fragmentation and reporting burdens and taking into account national circumstances and context. To this end, we would, we should strengthen capacity building and financial support to developing countries through North-South, South-South and triangular cooperation to enhance data systems and capacity. Lastly, we emphasize the importance of strengthening the ECOSOC Financing for Development Forum and the High Level Dialogue on Financing for Development to establish more systematic links between the UN and the international financial institutions, multilateral and regional development banks, private and commercial creditors, and credit rating agencies to enhance their coordination. Chair, the group will continue to engage constructively in this process, including in the negotiations on the zero draft, which we look forward to. Thank you.

I thank the distinguished representative of Singapore who spoke on behalf of the group of 77 and China. Now I give the floor to the distinguished representative of Canada to be followed by the representative of the United States.

Thank you, Chair. Distinguished delegates, this second preparatory conference has been marked with repeated calls for the FFD4 outcome document to include practical, concrete, actionable ideas that will tangibly move the needle on mobilizing all sources of financing for development. Canada echoes these calls. However, if these actionable ideas are not measurable and supported by a robust and coherent monitoring and follow-up mechanism, we will simply be repeating a laundry list of ambitions. Canada welcomes the following areas outlined in the Elements Paper. investment in data and statistical systems, data frameworks for sustainable development, accessibility and innovation, strengthening the monitoring and follow-up mechanism for financing for development, and the call for stronger efforts to enhance gender disaggregated data, although we would propose the addition of other intersecting identity factors where relevant and possible. Canada recognizes that there is a need to work both on enabling conditions and specific impediments to mobilizing financing for development. Data and statistical capacity, in our view, are foundational enablers to mobilizing more financing for development and doing so more effectively and efficiently. Whether it is increasing domestic resource mobilization, mobilizing private finance, or improving debt management, these goals cannot be met without robust data and statistical systems to underpin the same. Today more than ever, high-quality data is essential for evidence-based decision-making. Stronger data systems, in particular at the national level, are vital if we are to improve public financial management, raise tax revenue, facilitate debt management, and mobilize private finance. While clearly much more needs to be done, we should also recognize progress. For example, Enhanced data and informational exchange between tax authorities through mechanisms such as the Global Forum on Transparency and Exchange of Information and collaboration between tax authorities as seen through the joint UNDP-OECD initiative, Tax Inspectors Without Borders. This has helped tax administrations in developing countries generate an additional $2.3 billion in tax revenue. The key message I want to deliver to you is that data and statistics should be recognized as a cross-cutting issue in FFD4. Concretely, this means that statistical capacity should be recognized and included in the main FFD4 framework and preamble. We believe that data and statistical capacity are relevant in each of the FFD action areas and should be reflected as such. As present in the elements paper, data is referred to almost exclusively in the context of monitoring and follow up. While data is certainly relevant for monitoring, we believe this focus in the elements paper may be too narrow given the increased centrality of data capacity, especially with the rapid digitalization of global trade, commerce, and investment flows. The undeniable rise of the data economy represents both challenges, but also opportunities from the perspective of achieving the SDGs. F5D4 should be an opportunity to elevate the data agenda and link it more directly to effective and efficient mobilization of financing for development. Thank you.

I thank the distinguished representative of Canada. Now I give the floor to the distinguished representative of United States, to be followed by the representative of the United Kingdom.

The United States welcomes a strong focus on data, monitoring, and follow-up in a voluntary and non-binding financing for development outcome. Evidence-based decision-making and transparency are critical components for the development equation and build trust in government and confidence between and among development partners. We welcome the emphasis on strengthening capacity in developing countries in need and suggest a linkage with innovation and data sources to promote affordable country systems of data collection, analysis, and use. The United States strongly supports leveraging sex disaggregated data and evidence to improve the development impact, scale, and sustainability of both projects and partnerships. Beyond GDP, the United States notes the actions outlined in the Pact for the Future, it will be important to avoid prejudging the accessibility impact for those actions in the FFD4 outcome. The Elements Paper refers to multiple frameworks related to monitoring and accountability, and the United States urges consideration of the potential burden of a proliferation of frameworks and strongly encourages finding opportunities for consolidation. We reiterate that the FFD4 outcomes should be voluntary and non-binding, and that accountability should reflect this. Effectiveness and efficiency are paramount in monitoring. The outcome should prioritize the strategic use of existing mechanisms and structures rather than proposing costly and time consuming new reports or meetings that could draw resources away from directly addressing development challenges or place undue burdens on member states. We encourage this section to take a holistic look at the FFD for follow up proposed through the rest of the document to ensure a cohesive, non duplicative approach that is more effective and efficient. Recognizing that the elements paper is a compilation, its current form contains piecemeal follow up throughout the document that may or may not lend itself to an annual FFD form and negotiated outcome document. We support the alignment of the development cooperation form cycle, but we do not support the accountability role suggested in the DCF in relation to international development cooperation. That should remain within the ECOSOC FFD form.

Thank you.

I thank the distinguished representative of the United States of America. Now I give the floor to the distinguished representative of the United Kingdom, to be followed by the representative of Australia.

Thank you, chairs, co-facilitators. Data is exciting. Effective use of data is key to boosting sustainable economic growth, boosting debt transparency, improving public services, empowering women, unlocking opportunities of AI, and as colleagues from Singapore so eloquently said, turbocharging private sector investment where it's needed most.

Just to name a few.

Countries with strong data systems have been better able to anticipate and respond to crises, be it pandemics, earthquakes, or droughts. Data can also help countries drive evidence-based decision-making and tells us what works in accelerating SDG progress, ensuring we spend our finance with ever greater impact. Therefore, for FFD4 to be successful in developing a financing framework that truly addresses the interlinked challenges our world is facing, poverty, climate change, conflict, vulnerability and increasing fragility, data must be a core part of that conversation.

We are listening to the ask.

Expressed by Member States and other stakeholders, particularly partners in low and middle income countries, that the FFD4 text needs to recognise and elevate the role of data and statistics. We think that data, as our Canadian colleague said, should be recognised in the elements paper as a strong cross-cutting issue. This would send a clear message that FFD4 acknowledges that data and statistics are central drivers of informed and effective financing for development, and that strengthening national data and statistical systems is a critical means of implementation of the SDGs. And finally, data builds trust. It helps us know what progress we are making collectively and where we need to do more. We agree that strengthening monitoring and reporting and follow-up from FFD4 will be absolutely vital to narrowing the SDG financing gap and look forward to hearing more information about the proposal for indicators.

Thank you.

I thank the distinguished representative of United Kingdom. Now I give the floor to the distinguished representative of Australia to be followed by the representative of Germany.

Thank you, Chair.

Australia's comments are focused on three quick points.

First, enhancing the disaggregation of data is necessary to monitor the core commitment of the 2030 agenda to leave no one behind. There is significant opportunity to enhance gender disaggregated data, as emphasized in the elements paper. We must strengthen efforts to improve outcomes for indigenous peoples through the disaggregation of data in the sustainable development goal framework. Australia supports the Elements Paper's call for efforts to develop measures of vulnerability that go beyond per capita income as a complement to existing policies and practices, including the multidimensional vulnerability index. Domestic data collection and use remains an ongoing challenge for our Pacific partners, as is implementing evidence-based policy making as a result. Data is crucial for understanding the economic context in the Pacific.

Australia supports efforts through FFD4 to address these limitations.

Thank you, and I look forward to discussing these important issues with all of you here this week.

Thank you.

I thank the distinguished representative of Australia. Now I give the floor to the distinguished representative of Germany, to be followed by the representative of South Africa.

Thank you, Chair.

The elements paper reflects Germany's commitment to fostering evidence-based decision making by addressing critical gaps in data collection and monitoring processes. We particularly welcome the proposed financing indicator framework, grounded in existing SDG indicators, as it aligns with Germany's priorities to establish robust and measurable monitoring systems without creating additional reporting burdens. We appreciate the paper's strong focus on action-oriented monitoring and follow-up processes, which represent significant progress compared to the Addis Ababa Action Agenda, in particular, The emphasis on high quality disaggregated data, including gender data, is key to advancing inclusive and sustainable development. Investments in data and statistical systems are essential, especially for developing countries, and Germany supports efforts to accelerate progress on the Cape Town Global Action Plan and strengthen national statistical capacities. Germany also values the proposal to task the Inter-Agency Task Force on Financing for Development with developing concrete financing indicators and sees this as an opportunity to enhance the monitoring of financial flows. Similarly, we recognize the importance of deepening discussions at the ECOSOC FFD Forum through a multi-year cycle approach and intercessional preparations. We believe that complementing the FFD Forum with intercessional member state-led preparations on selected topics would allow for more focus and substantive outcomes. These intercessional discussions would enable deeper engagement with critical financing issues, which are often only briefly addressed during the forum itself, and ensure that more comprehensive solutions are brought to the plenary sessions. Thank you very much.

I thank the distinguished representative of Germany. And now may I kindly remind delegation to speak at a reasonable speed so that their statements can be interpreted fully. Thank you. And now I give the floor to the distinguished representative of South Africa to be followed by the representative of Switzerland.

Thank you, Ambassador. We just wanted to second everything that's been said already about the importance of data. We fully support the idea to set up a financing indicator framework. I think, you know, as our colleague from Canada very astutely pointed out, without evidence, all we're gonna have is another laundry list of ambitions. Uh, and we will be here again in, in a few years time, uh, complaining about lack of implementation. And then with regard to, um, to peer review, uh, we just wanted to, uh, support, uh, the proposal made by the African group. coming out of the recent regional consultation, which proposes a universal financing accountability framework modeled after the universal periodic review to track progress on financing commitments. I heard the comments from some colleagues about not adding extra burdens, but in our experience, there's nothing like having to report to the UN to overcome bureaucratic inertia and knock heads together to, to make sure that there's implementation of commitments. And, and then finally, I wanted to also draw your attention to the proposal in the, from, from the African group. which I know came after the elements paper was released, which proposes a follow-up system to establish standardized reporting formats to enable tracking of commitments between countries, regional organizations, and at the global level. And I think it's an interesting proposal that we recommend you look at when you're doing the zero draft. Thank you very much.

Thank you, the distinguished representative of South Africa. I now give the floor to the distinguished representative of Switzerland to be followed by the representative of Saudi Arabia.

Thank you, Mr. Chairman. We welcome the fact that the need for robust data on development financing ODA-TOSD has been recognized in the note on elements. Indeed, data and statistics play an essential role in sustainable development. They provide an objective basis for decision making and for measuring progress. Data should therefore be recognized as a cross-cutting issue in the final document of FFD4. Also, we should build on existing frameworks and skills to avoid duplication. Let me emphasize two points, first, the note recognizes the need to invest more in strengthening national data systems and the need to reinforce their governance. In this respect, we underline the importance of the Cape Town Global Action Plan on Data for Sustainable Development and the Medellin Framework for Action on Data for Sustainable Development. The latter, the outcome document of this year's United Nations World Data Forum, provides important new impetus in order to achieve this goal. The Statistical Commission and its high-level group, that developed these documents should therefore be involved in implementing the commitments made at FFD4 in this area. Two, another key element mentioned in the elements note is the promotion of open and interoperable data standards as well as platforms that make reliable data accessible. Such standards and platforms are essential to ensure that data can be shared and used by different actors, including by linking data from different sources. This can also improve access to information through artificial intelligence tools and thus reduce unintentional misinformation through such tools. Thank you very much.

Thank you, Mr. President. Thank you, Mr. President. Thank you, Mr. President. Thank the distinguished representative of Switzerland. Now I give the floor to the distinguished representative of Saudi Arabia, to be followed by the representative of India.

Thank you very much, Your Excellency, and good morning to you and all colleagues.

With regards to the investment in data and statistical systems, we highlight that strengthening data sharing platforms and statistical systems is crucial for global development. However, mechanisms must also respect national data sovereignty and align with the privacy and security standards.

While the private sector chair may contribute.

To sustainable development and achieving sustainable development goals, once again, this is a member states driven process and we must.

Have some sort of balance?

We reiterate what we stated.

Yesterday, the private sector is not a party in international agreements or international intergovernmental negotiated frameworks and therefore cannot be accountable to them.

The private sector is only accountable to the governments of the jurisdictions where it operates.

Moreover, there are already initiatives that include and collaborate with the private sector, so we believe that we must avoid any sort of redundancy and duplication of efforts in this section. We also should not risk prolonging discussions on controversial issues that lack consensus. And finally, Chair, we must not burden developing countries with additional reporting and monitoring mechanisms that may be in the way of achieving their sustainable development goals.

Thank you very much, Chair.

I thank the distinguished representative of Saudi Arabia. And now I give the floor to the distinguished representative of India, to be followed by the representative of Antigua and Barbuda.

Thank you, Chair. To accelerate progress towards SDGs, high quality, reliable, and disaggregated data that go beyond GDP is critical for evidence-based decision making, measuring progress, identifying implementation gaps, and making timely course corrections. Bridging the data gaps require adequate investments in data systems, upgrading digital infrastructure, strengthening statistical capacity, and digital governance. We support the elements paper advocating for investments in national statistical capacities and utilization of innovative data sources such as citizen generated data and remote sensing to complement traditional methods. These approaches can help gather more granular data and bridge data gaps and enhance the overall quality and utility of data. India is in favor of strengthening the SDG indicator framework and prioritizing high quality disaggregated data collection, especially on gender and vulnerable groups. India also emphasizes the critical role of disaggregated data, particularly to address inequalities and promote inclusivity. Monitoring mechanisms should integrate regional and national perspectives to reflect localized challenges and priorities while ensuring that policies remain coherent across all levels. India supports the proposal to task the interagency task force on financing for development with developing a concise set of financing indicators. Such indicators based on existing data like SDG indicators will enhance the coherence and efficiency of tracking progress in financing for development. India recognizes the need for intergovernmental discussions and consensus on this framework, ensuring alignment with the diverse priorities and capacities of member states. India also acknowledges the value of regular peer reviews and streamlined regional and global monitoring systems. These mechanisms enhance accountability and adaptability, enabling development strategies to evolve in response to changing needs. By fostering collaboration and consensus, we can collectively advance towards achieving the SDGs while respecting the unique context and capacities of all member states. I thank you.

Thank you, the distinguished representative of India. I now give the floor to the distinguished representative of Antigua Barbuda to be followed by the representative of Colombia.

Thank you, Chair. Data management continues to be a challenge for Antigua and Barbuda and other SIDS. Strengthening SIDS capacity, particularly in climate and debt data, will enable countries like Antigua and Barbuda to better negotiate and advocate for our needs in international forums, while also driving our own national sustainable development plans. It will also allow SIDS to make better decision making, greater matching development financing with national development plans. SEDS are least behind any group of countries in data collection and statistics. Our particular vulnerabilities to external shocks further impedes data collection, data accuracy, and data integrity. Therefore, FFD4 must produce specific data support for SEDS. Antigua and Barbuda welcomes the proposal to increase financial support for data and statistical capacity in developing countries, especially those in special situations. Investment in data and statistical systems is critical for SIDS. The Antigua and Barbuda agenda for SIDS proposes to establish a SIDS center of excellence with a SIDS global data hub as its anchor. The SIDS global data hub will be instrumental in the sustainable development of SIDS. Antigua and Barbuda proposes the inclusion of the SIDS global data hub as a concrete proposal for financial support for data statistics emanating from FFD4. On monitoring and reporting, Antigua and Barbuda shares the view with others that the monitoring and reporting mechanism emanating from FFD4 should create less burden on developing countries, but offers alignment with reporting on other outcomes and follow-ups. I thank you.

I thank the distinguished representative of Antigua and Barbuda. And now I give the floor to the distinguished representative of Colombia to be followed by the representative of Spain.

Thank you, Mr. President. The adoption of the Addis Ababa Action Agenda contributed to the positioning of the importance of data and statistical systems. for the financing for development agenda, mainly to the recognition of the importance of high quality data for decision making, as well as the role of the national statistical systems. Nonetheless, data and statistics were portrayed mainly as a monitoring and follow up mechanisms to the commitments of the agenda, rather than a catalytic precondition for the effectiveness of actions contained therein. The outcome of FFD4 needs to recognize the dual role of data and statistics as an asset of cross-cutting value and as a mean to measure our progress in the implementation of the Addis Ababa Action Agenda. On the first hand, we expect the zero draft to present data and statistics as a key enabler to make progress in each of the sections of the document. We need to overcome the siloed approach through which the value of data is recognized within specific policy interventions or in the preparatory stages of international cooperation projects and programs. These modalities fail to create long term capacities at the national level, limit adaptability and delay implementation. Rather, we need to increase the support to national statistical data offices and systems of developing countries to enhance our ability to produce, collect, storage, use, and transfer disaggregated data. This would unlock our capabilities to identify and monitor illicit financial flows, control tax evasion, design gender responsive budgets and fiscal policies, inform private sector to invest in catalytic sectors, seize the benefits of emerging technologies and digital economy, or develop metrics going beyond GDP among other critical needs to improve financing for development. When it comes to data and monitoring as a section, we should take more concrete steps to measure our progress, ensuring articulation among relevant existing bodies to avoid duplication and cease created capacities. We therefore expect the zero draft to assign a significant role to the statistical commission in the monitoring exercise and to strengthen the role of relevant indicators, such as the indicator 17.3.1 developed in 2022 to inform the mobilization of resources from diverse sources to finance sustainable development. We welcome the reference to the Cape Town Global Action Plan for Sustainable Development data in the elements paper and request the co-facilitators to ensure the zero draft remains updated with the most recent development in the UN data for sustainable development community. The recently held UN World Data Forum, which took place in Colombia last month, concluded in the elaboration of the Medellin Framework for Action on Data for Sustainable Development, which introduces a realigned, streamlined, and priority-oriented framework for advocacy on data and statistics for sustainable development. The Medellin Framework will be adopted in March in the Statistical Commission. Thank you.

I thank the distinguished representative of Colombia, and now I give the floor to the distinguished representative of Spain, to be followed by the representative of Republic of Korea.

Excellencies, distinguished representatives, data monitoring and follow-up are essential components in order to ensure the achievement of the ODS. The elements paper also includes important information in this respect. There are still important gaps, especially in order to use data and improve data collection disaggregated by vulnerable groups or gender. In spite of many efforts, many countries still do not have the necessary resources for the collection and dissemination of data. We will have to improve more and better in developing these capabilities. There are different initiatives in order to improve the use of data. The indicators framework has been important in order to guide countries to identify priorities. The total support for development is important in the implementation of the ODA. In this respect, we should not dilute the Importance of GDP, it includes triangular South-South cooperation and the contribution of the protection of global and private wealth mobilized through public investment. We also recognize more and more the need to have data that go beyond the GDP in order to have the different parameters of sustainable development. The Spanish League for Cooperation includes different parameters. We support tools in order to measure things going beyond per capita GDP. We also measure vulnerabilities and inequalities such as human development adjusted to inequalities as well as multidimensional data. This is important in order to consider it in concessional investment. It is important to ask the interagency task force to revise the implementation of the agreements that will be made in Seville. The different proposals in the element paper are important in order to have focal point and interdepartment teams. We should invite the countries to make proposals with an alignment of schedules for strengthen follow-up systems. And finally, one of the main contributions of the conference should be to have mechanisms that have been strengthened because things do not end in Seville, they start in Seville. Thank you.

Thank you, distinguished representative of Spain. And now I give the floor to the distinguished representative of Republic of Korea, to be followed by the representative of Dominican Republic.

Thank you, Chair. The Republic of Korea extends sincere appreciation to the co-facilitators for their dedicated efforts on drafting the elements paper. We believe that the collection of evidence-based data is important to monitor the progress of FFD4 outcome. In this regard, I would like to underscore three key points. First, collecting a comprehensive set of data is crucial for all, from conventional and emerging donors to development cooperation partners. To this end, the Republic of Korea is committed to contributing to build statistical capacities in our partners. Second, it is essential to keep any monitoring mechanism as light as possible, building on existing institutions. The Republic of Korea looks forward to further discussions on the architecture of any such instrument. Lastly, my delegation wishes to draw your attention to the importance of GPEDC monitoring data. Notably, the upcoming eighth GPDC forum scheduled on October next year in Seoul will provide an invaluable opportunity for diverse stakeholders to deliberate on advancing the effectiveness of development cooperation through the use of data and evidence building on the outcomes of FFD4. I thank you.

I thank the distinguished representative of Republic of Korea. Now I give the floor to the distinguished representative of Dominican Republic. To be followed by the representative of Vanuatu.

Thank you for giving me the floor, Chair. The question of data monitoring and follow-up is a very important one because we're talking about financing for development. This is a key element. for guaranteeing a sustainable future thanks to accurate data, constant monitoring, and evidence-based decision making. We are discussing today the importance of data monitoring and follow-up for the SDGs. These data are not just technical instruments for measuring progress. They also are something transformative. It's very important to invest in a system statistic that allows us to measure progress And this allows us to identify critical inequalities and to meet the most urgent needs through effective policies. As we prepare for the fourth conference, we ought to encourage a vision that is centered on data in all domains of development. And that means strengthening national statistics offices, encouraging collaboration between different agencies, and using data generated by citizens themselves that will help to improve information quality and will also strengthen various fields including gender equality as well as combating poverty and climate change. We also need to include the gender perspective. When it comes to using and analyzing data for development, We must take into account gender equality, otherwise we'd be forgetting half of the world's population. Women and children must deal with structural challenges that could be addressed using disaggregated data on inequalities and other specific issues. A robust statistical system takes into account gender would help us to understand the exclusion dynamics that affect women when it comes to access to education, decent work, health care, and political participation. Without this information, we would risk further exacerbating inequalities. All of the data compiled with gender in mind would help us to bring about a more just society for men and women. and would help contribute to development and also would help people to enjoy the benefits of development. We need a strategy to build a more just sustainable future for all. Thank you.

I thank you. And now I give the floor to the distinguished representative of Vanuatu, followed by Brazil.

Thank you, co-facilitators, for the elements paper. SEEDS are off track in achieving the Addis Ababa Action Agenda and 2030 Agenda. Data and financing challenges remain major factors behind the slow progress and setbacks. Having data system to monitor progress and ensuring resilient digital public infrastructure essential for effective monitoring and follow-up. However, many SEEDS do not have essential digital infrastructure compounded by a widening digital divide. We continue to face challenges such as lack of governance and institutional coordination, inadequate quality data and infrastructure vulnerabilities. Our financial losses from climate disasters like cyclones, flooding and sea level rise are substantial relative to our average GDPs, impeding our ability to invest in critical areas of the SDGs, including data and monitoring progress. SEEDS limited domestic resources coupled with decline national revenue due to the economic crisis caused by COVID-19 pandemic and ongoing conflicts have forced many SEEDS to borrow heavily for recovery, leaving them burdened with high levels of debt. We welcome the recognition of SEEDS priorities in various areas of the LMA paper, including on the need to support SEEDS in strategic SDI governance, regulation and institutions for the SDI policies. The specific needs of SEEDS must be reflected in the data monitoring and follow-up section, including the commitments of the Antigua and Barbuda Agenda for SEEDS, ABAS. Invest in human and institutional capacity in SEEDS to collect quality, accessible, timely and reliable disaggregated data in line with national priorities. strengthen and modernize national data infrastructure and systems to better integrate data into development planning and enhancing the capacity of statistical offices. Third, enhance science-based and innovative approaches for the collection, storage, analysis, disaggregation, dissemination, and use of demographic data in SEEDS, including the use of geospatial technologies. Fourth, enhance partnership and the sharing of best practice expertise, digital public goods, and data. Providing high quality special data for seeds and work to downscale global data sets to provide accurate information for seeds. The seed center of excellence launched at the fourth international conference on seeds included global data hub with the purpose of support capacity building and diverse partners to strengthen data collection mechanism. Monitoring and evaluation framework for the ABAS is expected to be developed by mid next year coinciding with the FFD4. The ABAS and FFD outcomes should be synergized including through a commitment to financial and capacity support for the ABAS implementation. Thank you.

I thank the distinguished representative of Vanuatu, and I now give the floor to the distinguished representative of Brazil, followed by Indonesia and Pakistan.

Thank you, Madam Chair. Brazil welcomes initiatives aimed at strengthening data and follow-up mechanisms for financing for development. Data and international development cooperation flows are crucial for the capacity of developing countries to plan, manage, monitor, and evaluate the substance of their interactions with foreign partners with regards to development. The strengthening of data management statistical systems in developing countries deserves greater attention. It's very difficult for a developing country to monitor and evaluate the volume, quality, and final destination of external support without reliable and comprehensive data. It would also be very positive if we could count on a firm commitment from developed countries with regards to an increase in ODA contributions. in the Monterrey FFD conference after a decade of decreases in ODA in the '90s after the end of the Cold War, there was a strong commitment made and ODA increased from an average of .2 to .33 percent. It was so far from the .7 percent commitment made in the 1970s, but it was a positive and concrete step. As we have seen in previous discussions, developing countries pay three times as much in debt servicing than they receive in ODA. Countries in the global south should not be exporting capital to the north. It's also crucial we increase available data on credit rating agencies and promote an independent review of international risk frameworks. CRAs play a central role in determining the cost of capital in developing countries and there's a pressing need to increase the transparency of their criteria and rating processes. The UN can play and should play a role in these discussions. We would like to reiterate our support to the development of additional criteria to measure the multidimensionality of development and its linkage to access to finance. Brazil has been vocal in its support to trilateral cooperation. We believe that trilateral cooperation has demonstrated positive results in terms of devising new formats of synergy between three or more development partners, contributing to enhanced development cooperation effectiveness. This potential has been increasingly recognized. For instance, the technical guides from UNCTAD's conceptual framework for South-South cooperation has adequately acknowledged and reflected the specificities of this modality with clear distinction between inputs from developed and developing countries. With regards to TSD, the Brazilian delegation believes that data available in this platform could be relevant to the purposes of FFD as far as cross-border financial flows to developing countries. through bilateral, trilateral, or multilateral channels are concerned. We do not agree with and do not report to the Pillar 2 component, as it includes flows that are not directed to developing countries. We support recommendations for improving FFD follow-up mechanism. The forum remains a key platform for monitoring progress and promoting coherence. The ATIF report should also be preserved and strengthened.

I thank the distinguished representative of Brazil, and I now give the floor to the distinguished representative of Indonesia, followed by Pakistan and followed by Iran.

Thank you, Chair. Excellencies, distinguished colleagues, Indonesia deeply resonates with identified challenges, particularly the need for high quality disaggregated data to inform policy decisions. The COVID-19 pandemic exposed the urgency of investing in robust national statistical systems, especially for countries in special situations. We strongly support the proposed acceleration of the Cape Town Global Action Plan and the call for enhanced financial support to national data systems. This includes leveraging innovative and non-traditional data sources, such as citizen generated data and remote sensing, public private partnership, open data platforms, and interoperable standards are key to unlocking accessible and actionable data for all stakeholders. To translate this aspiration into tangible outcomes, it is essential to highlight practical examples where our countries.

Including Indonesia, are actively contributing to global monitoring efforts.

Indonesia has taken steps to contribute to global monitoring frameworks.

For instance, we actively participate in total official support for sustainable development to track SDG financing and promote transparency.

Alongside TOSSD mechanisms such as VNRs and the Global Partnership for Effective Development Cooperation Forum offer valuable platforms to assess progress and share lessons learned. To enhance global accountability, Indonesia advocates for strengthening of an annual forum like the ECOSOC Financing for Development Forum. This forum would allow for consistent reviews of financing challenges, deeper engagement with member states, and the inclusion of civil society, academia, and the private sector. Finally, we emphasize the importance of aligning global and regional processes with national priorities, strengthening regional reporting, integrating financing indicators into existing frameworks and deepening peer reviews are vital to bridge the gap between commitments and implementation. Enhanced collaboration among international financial institutions, member states, and regional bodies will ensure that no country is left behind.

I thank you.

I thank the distinguished representative of Indonesia, and I give the floor to the distinguished representative of Pakistan, followed by Iran and Senegal.

Thank you, co-chairs. We have a few broad points to raise. First, the reference to the interagency task force on financing for development to propose a concise set of financing indicators. This proposal is not acceptable to us. We are unclear on what is meant by concise indicators, specifically who will decide what is concise and what is not. We also cannot accept that the IATF be requested to undertake these tasks, as Member States have very little insight, information, oversight or accountability over how the task force functions. A comparison has been made to the SDG indicator framework, the process for developing that framework to our knowledge was intergovernmental from its inception with an expert group consisting of representatives of national statistical offices. The only way we can accept initiating a process for any financing indicators is if it is intergovernmental from its inception, such as establishing an intergovernmental working group with technical support from relevant institutions, including those from the IATF. However, if this cannot be managed, we request the deletion of this proposal in its entirety. Second, on the idea of strengthening peer reviews, we do see value in this idea, but the reference to timing aligned with VNRs on SDG implementation and the reference to utilizing the investment fair is unclear. Is the expectation that countries presenting VNRs would also present FFD VNRs at the same time? Moreover, we must find a way to incorporate the international dimension in such peer reviews as many of the action areas have both national and international dimensions. Third, the role of the Development Cooperation Forum. We believe that if we agree to an enhanced transparency framework to be agreed to through the DCF, the DCF needs to be strengthened in order to become an intergovernmental platform similar to the FFD forum. This could be something that is referred to in the follow-up section. We believe that in the follow-up, we must reevaluate the role of the IATF and its FSTR report in informing the follow-up of the FFD agenda. There needs to be further transparency and accountability of deliberations therein. We must also consider alternative avenues, perhaps for reporting on progress and implementing FFD outcomes. Lastly, on the elements paper, we cannot accept any reference to gender disaggregated data. We request that the agreed formulation used in FFD outcome documents, data disaggregated by sex consistently be used. We also cannot accept references to non-UN indicators in the data monitoring and follow-up section, and we hope we do not see it in the zero draft. Thank you.

I thank the distinguished representative of Pakistan, and I now give the floor to Iran. then Senegal, and then Argentina.

Thank you, Madam Chair, for the floor.

Madam Chair, F54 must focus on its mandate. The mandate is clear, financing for development, and then supporting developing countries, and then full stop. But I agree with Pakistan that any data or any agreement should be intergovernmentally agreed. Data is a fundamental to achieving national sustainable development goals. Our experience during the COVID-19 was showing that was a failure, that this organization has a failure. Hence, access to reliable, accessible, and affordable for all is essential. And then the United Nations must provide its leadership. The goal must be focused on closing the developing development and then closing the divide that exists among developing and developed countries, and then close the data gap that also exists, especially in the areas of investment, debt, poverty eradication, and the needs of developing countries as a priority. Data must be and link with the national needs and priorities, and as well as national circumstances of member state. We are different, we have different needs of priorities, and then there is no one size fits for all. Respecting national sovereignty of member state and their national leadership and ownership is pivotal and must be reflected in the text. On the role of the stakeholders, they must fully respect and observe the national rules and regulations where they are operating. On follow-up, follow-up must be focused on means of implementation and the commitment of developing countries, and then especially the capacity building. Reporting must be done in the different and related platforms. While they are voluntary, they should not provide more burden on developing countries. And same like colleague from Pakistan, we do not support, and then gender disaggregated data. Any reference should be in line with the agreed language. And on monitoring, we do not accept any any new mechanism that is not accepted intergovernmentally. And we also showing our, we also cannot go in with any reference to FATF, OECD, and any non-inclusive platforms. Thank you.

I thank the distinguished representative of Iran, and I now give the floor to the distinguished representative of Senegal, followed by Argentina.

Thank you very much, Madam Chair. Senegal views data as being a key element for the monitoring follow up of financing for development. However, the fragmentation of data as well as technical and financial capacity, which are inadequate, hamper the effectiveness of national planning systems to improve monitoring of financing for development. It's important to set up a robust monitoring framework for collecting and analyzing data in order to improve the coordination and quality of data and the predictability of financing to better take into account gender and climate. We also ought to place emphasis on coherent performance indicators as well as robust evaluation of the impact of financing when it comes to the implementation of national action plans. Also, it is essential to strengthen the use of technology, of ICT technologies when it comes to follow-up and monitoring systems, launching digital platforms to collect and analyze data in real time in key sectors such as agriculture, health and education will help us to improve access to data and improve timeliness of treatment. We also need to have international cooperation mechanisms to step up mechanisms for monitoring and follow-up working with institutions such as the World Bank, IFAD and other development partners. This will allow us to benefit from expertise and additional funding in order to improve monitoring and follow-up mechanisms as to harmonize norms at international level. Thank you.

I thank you, and I now give the floor to Argentina, followed by IFAD.

Thank you very much, Madam Chair. Good morning, colleagues. Regarding this section, my delegation is evaluating several of the proposals. We would like to reserve our national position with respect to gender and data. My delegation wishes for us to take note that with respect to the word gender, We understand it as in national treaties where it states that gender refers to female and male in the context of society and that gender has no other significance besides the ones I have already mentioned. We also notice that there are several proposals in this section that could duplicate our efforts on areas that are already being carried out, thus adding burden and financial expenses, such as the proposal for the task force to develop different tools of financing. This is something that we are already assessing, evaluating. We also see that some proposals might limit the sovereign right of states to channel financing according to its own nationalities and needs. We understand that this should be something that should be studied carefully. Thank you very much.

I thank the delegate of Argentina. Next, we have IFAD followed by CSO1.

Policy Forum Civil Society FFD Mechanism. IFAD, you have the floor?

Okay, thank you, chair. Impactful financing decisions require timely and high quality information. In order to understand whether we are collectively meeting our targets, we must understand where finance is flowing and what results it generates. Measuring finance across agri-food systems poses a particular challenge as we have limited information on how countries and global partners are financing the transformation of food systems, a key entry point to unlock growth, create jobs, regenerate ecosystems, and reduce poverty and hunger, particularly in rural areas. To address this challenge, IFAD is co-leading, with the World Bank and other partners, the development of the Financial Flows to Food Systems tool, or 3FS, which tracks both domestic and international financial flows to food systems. This tool, initiated during the 2021 UN Food Systems Summit, will help monitor progress and guide efforts to accelerate transformative actions for food systems. Such concrete solutions are central to targeting investments and fostering mutual accountability. Thank you.

I thank IFAD, and then I give the floor to the representative of Civil Society Global Policy Forum Civil Society FFD Mechanism, followed by the World Bank.

Thank you, Chair. Indeed, my name is Bodo Elmers. I speak for Global Policy Forum and the CSO Funding for Development Mechanism. I've been personally involved in the FFD process over the past 15 years since the FFD2 conference in Doha, so the process is very dear to me. The funding for development process has no more than 20 years of experience, and I think we should consider the lessons learned as we prepare for the FFD4 conference in Seville. The feedback we got since Addis from many FFD stakeholders on the Addis Ababa action agenda is that it was very difficult to grasp. The Addis Ababa action agenda includes very few clear instructions on who should do what and by when and how to implement it, so to speak. So the outcome from Seville must be different if it has to have a stronger impact in the real world. I think we all agree on that.

Well, here's a few suggestions.

I mean, first, we need definitely a more operationalized outcome document. The FFD4 conference must ensure that the outcome really gives clear guidance to the different stakeholders. It also must have built up more pressure to act. So this requires a document that includes clear mandates, deliverables, targets and deadlines for the individual policy measures. Most of it was actually lacking in the quadruple A. Well, a better outcome document is also, I mean, many, many, many speakers mentioned that we need better monitoring, but of course, I mean, we need operationalized outcome documents so that we have something to monitor afterwards, monitoring should indeed. should take place on a global level. It should not disproportionately burden developing countries. It should include gender disaggregated data. And on top of that, several countries have mentioned it, we could also have peer reviews between countries, member state-led peer reviews. The universal periodic reviews of the Human Rights Council have been mentioned as best practices, and indeed one thing we can take as orientation. Third point, and I think it's also mentioned by several countries, including by Germany, we need more structures, more effective structures and more work between the summits and between the forums. So it is indeed a good idea to have thematic member state led working groups that work on the authorization, authorization and the implementation of the commitments we make in, in, in of the agreements that we make in severe between the forums. So throughout the year. And last but perhaps not the least appointment, we also need a whole of government approach to FFD because of course FFD affects different ministries, it affects institutions and policy agreements need to be established at their highest political levels. So one format that could be used is for instance the biannual summit to coordinate the work of UN and IFI that's been agreed of the pact for the future. So this could be agreed integrated into the FFD process. But to close, I mean, unless we have an operationalized outcome document, we have nothing to implement. So this is as we come to an end.

I thank the representative of Global Policy Forum Civil Society FFD mechanism. And I now give the floor to the distinguished representative of the World Bank, followed by the representative of Society for International Development, Jubilee USA Network.

Thank you, Chair. On behalf of the World.

Bank, let me express support for action areas set out in this section of the elements paper.

The importance of priority one on the need to scale up.

Investments in country data and statistical systems cannot be underscored enough.

We want to announce and acknowledge seismic improvements on the level and scope of investments in recent years. Under the World Bank's IDA 19 and IDA 20 replenishments, we've seen World Bank lending specifically to strengthen and modernize low and middle-income countries' data and statistical systems increase from $10 million in 2021 to $2 billion as of today in 43 countries.

This amount is poised to grow substantially under IDA 21, which was announced just today.

However, we acknowledge that much more financing and technical support is needed to meet growing country demands.

We likewise support priorities.

Number two and three and commit our continuing support for global coordination efforts to align and complement funding, technical assistance.

And to support the production.

And dissemination of data disaggregated by gender, youth, disability, and vulnerability, as well as to partner on key.

Initiatives to jointly identify low and middle income countries demand for investment and support to modernize country data systems including through the UN-led High Impact Initiative on the Power of Data, and through joint initiatives with our other UN brethren, including the World Bank UNICEF partnership to strengthen countries to fill critical data gaps for children, adolescents, and youth, to scale up investments in new and alternative data sources for climate action, emergency response, food security and agricultural productivity, poverty estimation, and job production. We are committed to continuing to put the World Bank's lending portfolio and knowledge to work for this critical agenda, along with new mechanisms like the World Bank-hosted Global Data Facility Trust Fund to catalyze ever more financing and enable more and better coordination to support countries to realize the data revolution. I thank you.

I thank the distinguished representative of the World Bank, and I now give the floor to the distinguished representative of Society for International Development, Jubilee USA Network, followed by the representative of Children and Youth International.

Thank you. Thank you, Madam Chair. Jubilee USA Network, which is an alliance of 75 organizations, including the main churches and trade unions in the United States, as well as also speaking today on behalf of the CSFFD mechanism, but also as an individual who has had the privilege, I would say, of being a participant in all conferences since the very beginning of the preparatory process for Monterrey. And, you know, I speak with that background. It may seem premature to discuss FFD5 when we are just preparing for FFD4. But this is one conspicuously missing piece we have seen in the elements paper, perhaps because it is a given, we would like to believe it is considered a given, but we feel important to remind everybody that we need to clearly set the time for the next FFD conference. This conference moments are like the one we have in Seville next year. are crucial to fulfill the FFD's central foundational mission, which is to convene world leaders and actors, all actors relevant to financing development, and the community of member states, and boost their momentum as they review the progress on the holistic agenda of financing for development. As we set the time for the next conference, we want to recommend an innovation over how this was done in the previous three conferences, because in each of those cases, the formulation left it open when the next conference was going to happen, paving the way for uncertainty and continued rolling over of the decision, which took considerable time and resources from member states in additional negotiations. I will not mention the resources it also takes from us. We propose that FFD5 is called unambiguously for year 2030. A five-year framework is compelling. It allows sufficient time to deliver progress while maintaining the urgency of implementation. And importantly, it is also a milestone year, is the deadline for the 2030 Agenda for Sustainable Development. Thank you for considering our proposals.

I thank you, and I want to give the floor now to Children and Youth International, please.

Honorable Chair, Excellencies, and delegates, my name is Joy Ferdinand, and I represent the merged group for children and youth. Thank you for the opportunity to address this critical moment. I want to address a tough truth. The system we rely on are not broken. They work exactly as they were designed. The problem is that they weren't built to serve everyone equally. This system protects the powerful and leave behind those who need help the most. Let's take a closer look how global financial decisions are made. are often given more power to wealthier countries. For example, in international banks, the countries with the most money get the loudest voices. Meanwhile, poorer countries struggle under heavy debt, paying more interest than they spend on healthcare or education. And tax system, the lead big corporations and the wealthy hide their profit, costing poorer countries billions, money that they could build schools and hospitals. What needs to change? One, we need fair decision making by establishing a UN framework convention and sovereign debt to give debtor nations equal footing in restructuring debt, ensuring decisions are transparent, fair and not dictated by creditor interest. We need to make everything transparent. We need to launch a global accountability ledger to track the flow of development finance, climate funds, and taxes, ensuring all financial flows are visible and accountable. We need to hold corporations accountable as well by adopting a binding UN treaty on multilaterals and human rights to ensure corporations respect human rights, environmental standards, and fair taxations. These systematic issues are not just about policies. They affect real people. Workers in developing countries struggle to earn fair wages, while tax loopholes benefit the wealthy. Community already suffering from climate changes are denied the funds they need for adaptations. Colleagues, history will not judge us by our words. today but by the actions we take. The solutions are clear and the demands are urgent. Democratize decision making in global financial institutions. Make financial systems transparent and accountable. Enforce regulations to hold corporations responsible for their actions. We cannot patch a broken system. Let us act now to create a fairer inclusive world. Thank you.

Thank you very much. And with this, distinguished delegates, we have heard the last speaker in the interactive discussion. And I would like to thank all of you for your inputs. I now invite the Preparatory Committee to resume its consideration of item two of its agenda entitled Election of Officers to proceed to the election of one of its vice chairs. Pursuant to General Assembly resolution 78/231, the Bureau of the Preparatory Committee consists of three members of each regional group. At its organizational meeting on the 23rd of February of this year, the Preparatory Committee was informed of the internal arrangements in place for the group of Asia-Pacific states, whereby members of the Bureau from the regional group have agreed to an informal rotation according to which they will resign in favor of another member after a designated period. Accordingly, I have been informed that Nepal has relinquished its position as vice chair in favor of Pakistan. The Preparatory Committee will therefore proceed to the election of Pakistan to complete the remaining term following the resignation of Nepal. May I take it that the committee wishes to elect Pakistan as vice chair of the preparatory committee to complete the remaining term of Nepal? I hear no objection, so it is so decided. I will now briefly pause the meeting to allow the podium to be rearranged for the remainder of the meeting. Please remain seated. Thank you.

That was the same last time.

Go. Amen.

Excellencies, distinguished delegates, I invite the committee to resume its consideration of agenda item five, to continue hearing general statements. I would like to remind delegations of the announced time limits for statements during the general discussion as follows. Five minutes for states speaking on behalf of a group of delegations, three minutes for those speaking in their national capacity, and two minutes for other speakers. In order to keep track of time, a countdown clock is visible on the screen to alert speakers when it is time to conclude their statements. In case speakers exceed their time limit, the microphone will be automatically deactivated. I apologize in advance if speakers are cut off. Kindly note that this measure is being taken to ensure that all speakers can deliver their statements in the limited time available for the general debate. Thank you in advance for your understanding. As usual, full versions of longer statements can be submitted to the secretariat. I now give the floor to the distinguished representative of Kiribati. You have the floor.

Thank you, Chair. I wish to begin my statement by greeting you all, meaning blessings upon you all. Kiribati aligns itself with the statement delivered by the distinguished representative of Samoa on behalf of the OASIS, Malawi on behalf of the LCD, and Vanuatu on behalf of the B6 position on data and financing challenges. We join the earlier speakers in expressing our gratitude to the co-facilitators, for their pivotal role in preparing a comprehensive and action oriented element paper. This paper aligns to GDB's priorities and serves as a valuable foundation as we collectively prepare for the fourth financing for development conference. As a least developed country, GDB also wishes to underscore the importance of addressing Our unique development challenges associated with being small. These challenges include limited internal markets, isolation from global markets, a narrow production base, vulnerability to external shocks and natural disasters. and susceptibility to diseconomies of scale in production, transportation, and administrative services due to intense geographical fragmentation. If that were not enough, Kiribati faces the most formidable challenge of all, climate change and the resulting rise in sea levels. Expanding innovation in transportation and digital infrastructure presents a direct solution to many of these challenges, enabling our people to access quality education, essential healthcare, and economic opportunities. However, these are extremely expensive, far exceeding the financial capacity of Gambia. This is where ODA and multilateral financing become essential. However, in order to ensure that no one is left behind, ODA needs to become more flexible predictable and responsive to the needs of the most vulnerable countries regarding the outcome documents of the fourth financing for development conference we anticipate an ambitious and tangible result that addresses the systematic challenges in mobilizing resources for sustainable development specifically on the following one a framework that prioritizes financing and innovative funding mechanisms to bridge critical gaps in infrastructure sustainable energy, connectivity and climate resilience. Two, commitment to reform the international financial system to be more inclusive, equitable and responsive to the unique needs of vulnerable countries, ensuring access to sustainable financing. We also wish to see an agreement on practical tools and partnership to accelerate resource mobilization, including blended finance approaches, PP, double P and South side cooperation aligned with the SDGs. Last but not the least, a robust mechanism to track progress ensuring that commitment made.

I thank distinguished representative of Kiribati. I now give the floor to the distinguished representative of Chile to be followed by Sri Lanka.

Thank you, Mr. Co-Chair. Chile aligns itself with the statement made by Uganda on behalf of the G77 and China and Philippines on behalf of the middle income countries and at the following elements. FFD4 is a critical opportunity to strengthen our collective commitment with respect to the implementation of Agenda 2030 and the SDGs. We agree that mobilization of domestic resources is fundamental, but it should necessarily be complemented with an international environment that facilitates cooperation and financial resources access in fair and equitable conditions. We should promote an international financial architecture that responds to today's needs. And in this respect, we must support efforts to strengthen the voice and representation of developing countries. On the other hand, international cooperation for development should revitalize and adapt to present day challenges. Although we recognize the importance of AOD and to comply with existing commitments, it is also necessary to innovate efforts. of resources and capacities, strengthening alliances amongst multiple actors in this respect, debt for nature swaps, sustainability bonds, and diversified climate funds could mobilize critical resources for SDGs. Mr. Co-President, we should point out our concern because the document does not make mention to specific challenges that middle-income countries, in spite of the fact that they contribute to global economic activity, They face limited access to concessional financing, and they are exposed to external shocks. We believe that FFD4 into 2025 should build a financing framework that responds to the realities of developing countries, including middle-income countries, and at the same time face systemic challenges. Financing for development is a moral imperative which is at the center of building a sustainable and equitable world that will leave no one behind. With this conviction, Chile reaffirms its commitment in the preparatory process and we hope to contribute constructively to an ambitious, meaningful result in Seville next year. Thank you.

Thank the distinguished representative of Chile. And I now give the floor to the distinguished representative of Sri Lanka to be followed by the Dominican Republic.

Thank you, Chair. Sri Lanka aligns itself with the statement delivered by Uganda on behalf of the G77 and China and wishes to make the following points in its national capacity. Sri Lanka thanks the co-facilitators for their hard work in consolidating the elements paper for the outcome document of FFD4. This document will be useful in laying the basis for future negotiations. Sri Lanka wishes to see an ambitious, bold, and innovative outcome document emanating from the upcoming conference that reflects contemporary global priorities and is transformational in its approach to development financing. This document, we must note, that will set the tone and pace for development cooperation for the next crucial years in achieving the 2030 agenda. Therefore, my delegation is of the view that the outcome document of the FFD summit should essentially include the following elements. One, it should build on previously agreed commitments and principles, such as the Addis Ababa Action Agenda, the SDG Summit's outcome document, and the Pact for the Future. There should not be any backtracking of agreed commitments, should identify implementation gaps and provide solutions. Three, a new global financing framework should be aligned with national priorities and focused on providing a stimulus for countries to achieve the SDGs. Four, it must be remembered that there exists a $4 trillion gap, SDG financing gap, and the new financing framework should be aimed at bridging this gap through a range of measures and instruments, including reform of the international financial architecture and increasing capital. Strengthening South-South and triangular cooperation, climate finance, meeting ODA commitments, increasing the lending capacity of MDBs, and greater access for countries to concessional finance remain crucial elements for success. Lastly, it is imperative that the conference's collective vision seeks a paradigm shift in the international financial system to support the many countries facing economic crises and debt distress. Chair, it is important to remember that the problems we face can be overcome by strengthened multilateralism and the creation of an international financial architecture that works effectively for all countries in their efforts to achieve the SDGs. Standards of transparency and accountability must be applied to credit rating agencies as they determine sovereign borrowing costs and access to essential development financing and investment. International tax cooperation is required to ensure equitable taxation rights, exchange of information, and to eliminate cross-border tax evasion. The global trading system should be one that leaves no country behind. Sri Lanka looks forward to actively engaging in collective discussions to finalize the outcome document that builds upon the Addis Ababa Action Agenda and adopt a document that can be pivotal to advance the SDGs, address systematic inequalities, and promote global resilience in the face of today's multiple and intersecting

I thank the distinguished representative of Sri Lanka. I now give the floor to the distinguished representative of the Dominican Republic, to be followed by Saudi Arabia.

Thank you for giving me the floor. My delegation associates itself to statements made by Uganda on behalf of the G77 and China and by Morocco on behalf of middle-income countries. In my national capacity, I would like to say the following. The Dominican Republic is facing complex challenges that reflect ample realities for middle income countries. We have high economic growth rates, but on the other hand, we have great inequality levels. This paradox is important. in order to promote sustainable development. The Dominican Republic, like many middle-income countries, does not have easy access to concessional financing or international cooperation mechanisms that could transform our economies. Although we have macroeconomic growth indicators, these do not reflect the complexity of our social and structural needs. It is fundamental that the international community recognize that economic growth as such is not enough. We need a financing that is based on the multidimensional reality of development with indicators that go beyond GDP. Part of the challenge is based on our limited capacity to produce statistics that are reliable and complete. There is no necessary proof to show that they are truly transforming. This is not a simple technical problem, but a matter of social justice and efficiency in the allocation of resources. We cannot speak of development without speaking equality of gender. That is why there should be a global common system to give follow-up to financing for development with a gender approach. As the president of my country spoke in the General Assembly, we need a reform of the financial system in order to face present day challenges. Our present framework is not at the level of facing global crisis. We require a model of governance that will promote greater trust and efficiency in multilateral decisions. Financing for development should be more inclusive, transparent, and aligned to the reality of developing countries. That is why we encourage the international community to advance towards a global financial architecture that will recognize multidimensionality of development and make sure that no country is left behind. Thank you.

Representative of the Dominican Republic. I now give the floor to the distinguished representative of Saudi Arabia to be followed by New Zealand.

Thank you, Chair. My country, Saudi Arabia, through its 2030 Vision, has a number of initiatives that contribute to implementing progress toward economic prosperity, social well-being, and environmental protection. My country is committed to striving seriously to support these developed countries and to help them overcome their obstacles and challenges. For example, the Saudi Development Fund, since its establishment, has financed more than 800 projects in more than 100 states with a total amount of $20 billion U.S. dollars. In addition, the King Salman Center for Humanitarian Action has provided generous assistance through humanitarian aid packages to various sectors supporting the SDGs in a number of least developed countries, some of the poorest in the world. The center has provided humanitarian assistance and aid with a total amount of $6.2 billion in a number of sectors in 90 countries, most of which are at least developed countries. Ladies and gentlemen, distinguished chair, my country continues to work to ensure stability of the energy sector. We improve access of countries to energy, including LDCs, by adopting policies and practices to implement the Energy for the Poor initiative. There are more than 750 million people that do not enjoy constant access to electricity. Therefore, we reaffirm the importance of cooperation and support for the least developed countries when it comes to technology and investment in stable and affordable energy sources. It's also important to increase their capacity to access cleaner and diversified as well as stable and affordable energy sources. That is a crucial issue for sustainable development. In closing, Mr. Chair, ladies and gentlemen, I'd like to the Kingdom of Saudi Arabia would like to express its desire that the developed countries honor their commitments when it comes to supporting climate measures. We will continue our humanitarian role in economic development with a sense of responsibility, moderation, and justice. These are the concepts that underlie our actions and reactions on an international arena. Thank you.

I thank the distinguished representative of Saudi Arabia. I now give the floor to the distinguished representative of New Zealand, to be followed by Bolivia.

Thank you, Chair. New Zealand thanks Nepal, Norway, Mexico, and Zambia for their productive work compiling the elements paper. There are many aspects to it that New Zealand supports. There are some suggestions that will need careful consideration, and we can see that in some places there might be different interpretations of progress to date. Let us all remain open to differing perspectives during this process to ensure the best outcome for people and for planet. To this end, in the zero draft, we would like to see references to the advancement of gender equality and human rights. We all know that we need to increase financing, including ODA, private finance and other flows, to address increasingly complex global country-level challenges. We must also use existing resources better. As articulated in the Elements Paper, we must collectively do more to achieve the development effectiveness of ODA. This includes a focus on partner-led development and supporting the strengthening of partner systems, notably people capability, public financial management, good governance, and domestic resource mobilisation. For example, a large portion of New Zealand's development cooperation is with smaller, capacity-constrained bilateral partners with whom we try to walk the talk on development effectiveness. In this context, we have helped scale up the use of higher order modalities, such as direct budget support, which has opened space for policy dialogue and increased coordination between development partners and government. New Zealand supports efforts by small island developing states to have their unique vulnerabilities to shocks appropriately addressed by international development finance. We welcome the acknowledgement of countries in special situations and those with specific challenges in the elements paper. We would like to caution that some of the proposals in the elements paper should be left to be resolved in their own fora, for example, climate financing. Additionally, the paper includes calls for reforms that are already underway, for example, at the MDBs. Progress to date should be acknowledged. And there are proposals for new initiatives in the elements paper that will need to be scoped and discussed further before we could determine if we support them. We must remain mindful of the impact of institutional fragmentation on developing countries, specifically smaller countries. Chair, as we work to build trust and find common ground at FFDE, we must agree to work in effective, transparent, and impactful partnerships to improve shared prosperity around the globe. Thank you so much.

I thank the distinguished representative of New Zealand. I now give the floor to the distinguished representative of Bolivia, to be followed by Fiji.

Thank you very much, Mr. Chairman. Bolivia aligns itself to statements of Uganda on behalf of G77 and Botswana on behalf of the developing long locked developing countries. In a series of different crises, we are far from complying with what we have agreed multilaterally in Agenda 2030 and the Addis Ababa Plan. The world economic system is becoming destabilized, and it is affecting developing countries more than others. Together with this, commitments with respect to financing for development or for climate change have not been fulfilled. This widens even more the gap between developed and developing countries. We should also add indebtedness, illicit Financial flows, unilateral economic measures, and the effect of climate change that make inequalities, poverty, and hunger even deeper, Bolivia considers that, uh, FFD four. should therefore encourage a new spirit of global solidarity. We need to examine differentiating needs of developing countries, particularly those in special situations, and establish financing mechanisms that are just, transparent, and inclusive in order to meet the needs of indigenous peoples that are being affected. by the extraction of their natural resources and the effects of climate change. We should urgently face a change in the international financial architecture stressing the equal representation of developing countries in global decision-making and thus have a more fair, inclusive, transparent, structure that responds to the SDGs. To conclude, Mr. Chairman, Bolivia considers important that the conference, besides reaching an agreement on a document, may lead to objective, measurable commitments in order to reduce inequalities and improve the living conditions of our populations in a sustainable way. We should build democratic societies of peace and social justice. Thank you, Mr. Chairman.

I thank the distinguished representative of Bolivia. I now give the floor to the distinguished representative of Fiji, to be followed by Nigeria.

Thank you, Chair. Fiji wishes to first of all align its statement with the statement delivered by Uganda on behalf of G77 and China and the IOC statement as delivered by Samoa. We would also want to add a few remarks in our national capacity. In terms of the substance, addressing the financing gap is most critical. The outcome of FFD should embark on practical actions that address the financing gaps by developing countries, especially the smaller island developing states. The existing widening gaps faced by SIDS, such as Fiji, is heightened by the impact of climate change, natural disasters, elevated debt burden, and the geopolitical environment that fosters protectionism, to name a few, all of which requires new and innovative financing models. Second, the key elements that should culminate in a formidable outcome are provided by the elements paper. However, the paper should be more streamlined and actionable, moving from what is needed to how these needs can be achieved and by when. With this in mind, an effective evaluation mechanism and sufficient data system should be envisaged within the outcomes to assess the progress at all levels for effective implementation. We thank the co-chairs and have taken note of the mid-January timeline next year for the release of the non-paper. The outcomes should allow sufficient time for inclusive and broad consultations. Along the process, the co-chairs must reflect on the path towards adoption of the Pact for the Future. As for Fiji, it is important that we must arrive at a consensual outcome. Members therefore must show leadership, flexibility and political will. In September this year, Fiji launched its national development plan, which takes my country from 2025 to 2029. The three key pillars of our plan include economic resilience, people empowerment and good governance. These key elements correspond with Fiji's foreign policy. underscoring the pillars of sovereignty, security and prosperity. These two national documents were timely and useful, which will guide our engagement in this process and other processes such as the recently concluded COP29. With this, Fiji looks forward to collaboratively working with all members, including civil societies and partners as well, as we prepare towards CEBIR. In saying this, Fiji wishes to also recognize and thank donors for their support towards the voluntary trust fund in place at UNDESA, which enabled inclusive participation of members in the two FFD PrepCom meetings. Thank you.

I thank the distinguished representative of Fiji. I now give the floor to the distinguished representative of Nigeria, to be followed by the Holy See.

Thank you, Mr. Chair. And Nigeria aligns itself with the statements delivered by the G77 and China and the Africa Group. And also thank you, co-facilitators, for the 11 paper, which provides a good foundation for our discussions. Reforming the international financial architecture has remained a priority for Nigeria, especially considering that the current system is disadvantageous to developing countries by limiting access to resources needed for sustainable development. Illicit financial flows cost Africa an estimated 88 billion annually, draining resources critical for development. Nigeria therefore reiterates its call for a UN framework convention on international tax cooperation that will address tax evasion, base erosion, and profit shifting. Debt burden, particularly for us in developing countries, continue to undermine progress towards development goals. It is on this realization that Nigeria has called for a UN-led multilateral sovereign debt workout mechanism, and the establishment of a global debt authority to ensure fair and transparent restructuring. Therefore, debt restructuring should prioritize development over austerity, while debt for development swaps should be scaled up to channel resources into health, education, and infrastructure. In the same vein, reforms to the G20 common framework must include middle-income countries and adopt clear time-bound approaches. We further call for equitable representation in the multilateral financial institutions, the reallocation of special drawing rights, and concessional financing criteria that address multidimensional vulnerabilities, including structural and external shocks. Fulfilling official development assistance commitment remains vital for countries in the global south. Nigeria urges developed countries to fulfill and scale up these commitments by ensuring predictable and sustained financing to support inclusive recovery and long-term developments. Credit rating systems unfairly penalize developing countries by increasing borrowing costs and limiting access to capital. Nigeria calls for reforms to ensure fair assessment that reflects economic resilience and potential, enabling better financing terms. Excellencies, the outcome document for the fourth international conference on financing for development must deliver bold and actionable results. Nigeria stands ready to work with all members to achieve all equitable, inclusive and sustainable global financial systems that leaves no one country behind. I thank you.

I thank the distinguished representative of Nigeria. I now give the floor to the distinguished representative of the Holy See, to be followed by Belize.

Mr. President, my delegation would like to express its gratitude to Portugal and Burundi for their leadership as co chairs of this important process and to Spain for its generosity in offering to host the upcoming fourth international conference on financing for development in Seville. Furthermore, thanks are due to the co-facilitators, Nepal, Norway, Mexico and Zimbabwe, for their efforts in drafting the Elements Paper, which provides a strong foundation for the work towards an ambitious and impactful outcome document. My delegation welcomes that the paper recognises a number of important areas, including inter alia, the urgency of prioritising the needs of countries in special situations, namely, least developed countries, landlocked developing countries, and small island developing states. These countries are at the forefront of global challenges and must be at the center of our collective financing efforts. It also welcomes that the paper emphasizes that aligning support with national priorities is crucial to ensure sustainable and context-specific solutions. while recognizing the need for increased climate financing. On the issue of debt, my delegation supports the call in the elements paper for stronger commitments on debt management, sustainability, and restructuring. However, to meet the development needs and realities of all, my delegation believes that greater ambition is both necessary and achievable. Pope Francis has urged wealthy nations to take a bold step of solidarity, namely to cancel the debts of developing countries who will never be able to repay them. This is not only a transformative act of generosity, but above all a moral imperative in order to uphold the dignity of all and unlock the potential of nations trapped in cycles of debt distress. Therefore, the OEC hopes that meaningful commitments on debt, including reference to cancellation where appropriate, will be agreed upon in the outcome document. Mr. Chair, as we move closer to FFD4, my delegation emphasizes the necessity of prioritizing poverty eradication as the central objective of all financing efforts. Poverty is not merely an economic challenge. It is a profound violation of God-given human dignity and a fundamental obstacle to sustainable development. By properly framing poverty eradication as the overarching objective of our efforts, we will ensure that the outcomes of this conference will address the most urgent issues.

I thank the distinguished representative of the Holy See. I now give the floor to the distinguished representative of Belize, to be followed by Iceland.

Belize aligns with the statements delivered on behalf of the Caribbean Community, the Alliance of Small Island States, and the Group of 77 and China. As co-facilitators prepare a document for the third session, we wish to highlight four critical points. The context has changed. The outcome of FFD4 must go beyond addressing implementation gaps or renewing unfulfilled commitments. It cannot simply rely on making do with existing resources, especially for those who lack access. The global context has transformed significantly. The COVID-19 pandemic has reshaped the world, leaving severe economic scarring, lost development years, and heightened inequalities, especially in the poorest and most vulnerable countries. The SDGs and climate ambitions are in peril. FFD4 takes place at a time when the promise of the SDGs is under threat and the 1.5 degree global warming target is slipping away with projections of a three degree Celsius or higher rise. Climate change, biodiversity loss and pollution disproportionately affect SIDS, creating cascading impacts across ecosystems and societies. To keep global warming within 1.5 degrees Celsius, annual climate finance flows must rise sixfold to $8.5 trillion by 2030 and exceed $10 trillion annually by 2050. There's failing multilateralism. Developing countries, particularly SIDS and LDCs, are grappling with a debt crisis as they shoulder the consequences of global inaction. The FFD four framework must recognize this reality and provide a revamped cooperation framework. It must scale up public financing for sustainable development, climate and biodiversity through bilateral and multilateral channels with clear targets for 2030 and beyond. It must mobilize private finance for developing countries, aligning it with sustainable development and equity principles. It must address debt sustainability by prioritizing concessional and grant financing for SIDS and LDCs. It must ensure inclusivity, transparency, and accountability in reforming global economic and financial systems. The framework must support the Antigua and Barbuda agenda for small island developing states. Beyond referencing this agenda, it must fully integrate international commitments to SIDS across its framework as articulated by EOSIS. It should also incorporate mechanisms for monitoring and tracking these commitments within the FFD4 implementation process. The United Nations has a unique role. The UN's legitimacy stems from its universal and democratic nature, providing every member a voice and a vote. Fourth, boldness and transformation are imperative. Belize calls on all member states to demonstrate boldness and resist deferring key issues to other processes. Two lessons from past development efforts are clear. Development cannot succeed when...

I thank the distinguished representative of Belize. I now give the floor to the distinguished representative of Iceland, to be followed by Haiti.

Thank you, Mr. Chair. I am honored to deliver this statement on behalf of Iceland and would like to express our appreciation to Nepal, Norway, Mexico, and Zambia for their excellent work on the elements paper. Um, Iceland would like to highlight two points in that regard, firstly, we welcome the emphasis on a renewed global financing framework, which would address cross cutting priorities such as combating climate change. gender equality, advancing good governance and meeting the needs of the most vulnerable, including those living in extreme poverty and fragile contexts. Iceland looks forward to seeing those elements reflected in the zero draft. Secondly, science, technology, innovation and capacity building can contribute to every sustainable development goal, and Iceland has actively supported such initiatives. We therefore welcome a dedicated chapter on this within the elements paper. We would especially like to highlight the importance of SDI and capacity building in relation to SDG5 and express our appreciation for the emphasis on identifying gaps and ensuring gender inclusion when it comes to building a resilient digital public infrastructure and increasing digital public goods. There is also a wealth of potential in innovative finance. Iceland has focused on this through our sovereign sustainable financing framework by issuing green bonds in March of this year and gender bonds last June. Furthermore, Iceland places an importance on SDI and capacity building for sustainable use of natural resources. This includes sharing our experience with individuals and institutions in developing countries, such as through our technical assistance program to enable access and funding for technical experts. Iceland also established the Grow Center under the auspices of UNESCO, which works across four thematic areas that have played a significant role in our own development and prosperity. First, promoting geothermal energy, second, sustainable fisheries, third, land restoration, and fourth, gender equality. These training programs are for working experts from middle and low income countries to build their capacity in these fields and empower the local communities. Those are simply a few examples how STI and capacity building can contribute to sustainable use of natural resources. And Iceland would like to see further refinement of this element in the zero draft. In conclusion, the upcoming FFD4 is an important opportunity to reinforce and build on previous FFD outcomes. It will also provide an opportunity to follow up on the commitments made in the pact for the future. We must work towards an ambitious FFD outcome. and you may count on Iceland's constructive engagement in the process. I thank you.

I thank the distinguished representative of Iceland. I now give the floor to the distinguished representative of Haiti, to be followed by Eritrea.

Thank you, Chair. Mr. Chair, at the outset, I'd like to congratulate you on holding the second session of the PrepCom for the fourth International Conference on Financing for Development, which is a real platform for reflection and decision making on the elements paper, allowing us to share our priorities and expectations as we draft the outcome document of FFD4. Here, I also would like to thank and commend the co-facilitators, And I also would like to say that my delegation aligns itself with the declarations, the statements made by Uganda, G77, Samoa, as well as Malawi. Mr. Chair, we in Monterrey, Mexico, decided to come together to address development financing challenges throughout the world, especially in developing countries, with the goals of eradicating poverty, achieving sustainable economic growth and promoting sustainable development as we move toward a more inclusive and equitable global economic system. We also committed to mobilizing national resources, to attracting international financial flows, to promoting international trade as a driver of development. to increasing financial, technical, international cooperation for development, sustainable financing of debt and relief for external debt, as well as strengthening the coherence and uniformity of the international monetary system, as well as the international financial and commercial systems. Where are we now, six months before FFD4? The two reports of the Secretary-General, A/79/246 and A/79/248, entitled respectively Activities Relating to the Third UN Decade for the Elimination of Poverty, 2018-2027 and Elimination of Poverty in Rural Areas to Implement the Sustainable Development Agenda by 2030 may contribute responses to this question. These two reports state that in 2022, the prevalence of extreme poverty remained higher than before the pandemic with 12 million people throughout the world living in poverty. And this shows that there are more than 590 million people, or 6.9% of the world's population, that are still living in extreme poverty in 2030. Fortunately, FFD4 will allow us in Terealia to assess the progress made toward the implementation of the outcomes of development financing while addressing new and emerging questions to ensure the necessary reform of the international financial architecture takes place. In this regard, we recall that as part of the Samoa pathway, which followed the Barbados Action Program of 1994 and the Mauritius Strategy of 2004, Microphone was cut off for the speaker.

I thank the distinguished representative of Haiti. I now give the floor to the distinguished representative of Eritrea to be followed by the International Union for Conservation of Nature.

Good afternoon, Mr. Chair, excellencies. I align my statement with the statements delivered by G77 and China and the LDCs and wish to add the following remarks in my national capacity. For us, this elements paper is a good basis for a concise, intergovernmentally agreed, action-oriented, consensual, renewed financing for development framework we all aim to reach. The commitments we made under the Addis Ababa Action Agenda remain essential. However, significant gaps persist. Therefore, we must reflect on these shortcomings and address the inaction or non-compliance that has hindered progress. A renewed global financing framework must consider diversity of our development models, priorities, local realities. The one-size-fits-all approach has proven to be inadequate as it neglects the need for context-specific tailoring of financing for development that matches the unique regional, national, and local context, which is essential for making the frameworks actionable and impactful. A renewed global financing framework must also address the impact of unilateral coercive measures, including unilateral economic sanctions, on financing sustainable development. States should refrain from promulgating and applying any unilateral economic, financial or trade measures not in accordance with international law and the Charter of the United Nations. The immediate elimination of unilateral actions, sanctions, and trade restrictive measures that undermine the ability of developing countries to achieve the SDGs, exacerbating inequalities and perpetuating poverty is a prerequisite for the effective financing for development in affected countries. Mr. Chair, domestic natural resources and human resources should be addressed as a fundamental part of domestic resource mobilization for financing development. This would definitely help developing countries avoid dependency on aid, loans, and become self-reliant to finance their own development. Mainstreaming capacity building and technology transfer across all action areas is essential as well as ensuring equitable access to technology, fostering international cooperation to bridge the digital divide, and strengthening mechanisms like the Technology Bank for LDCs and the UN Technology Facilitation Mechanism with adequate resources. It's imperative that the framework should ensure countries in special situations receive scaled up and sufficient climate finance for mitigation, adaptation and resilience building, leveraging innovative financing instruments tailored to the priorities of these nations. I thank you.

I thank the distinguished representative of Eritrea. I now give the floor to the distinguished representative of International Union for Conservation of Nature.

Thank you, Chair. The International Union for Conservation of Nature would like to thank the facilitators for the elements paper, which provides a good basis for the negotiations. We recommend that the fourth FFD conference results in a reform of the international financial architecture that promotes concrete actions to address the interlinked challenges of climate change, biodiversity loss and land degradation. A recent IUCN report discovered that only 3.1 of total international financial assistance targeted biodiversity as an objective. This needs to be scaled up to support maintaining the ecosystem services that support the global economy. The outcome of F54 should send a clear message on the repurposing of harmful incentives to the environment, including agricultural subsidies and fossil fuel subsidies. We need to accelerate implementation of actions to achieve target 18 of the GBF and reduce harmful incentives by at least EUR 500 billion per year, while scaling up positive incentives for biodiversity. Fossil fuel subsidies are environmentally harmful, costly and distortive. Inefficient fossil fuel subsidies should be phased out without delay. The FFD outcome should also enhance the leveraging of private sector financing for outcome-based financing mechanisms linked to measurable conservation outcomes. Rolling out and scaling up of so-called green bonds require the cooperation of a multitude of stakeholders, including scientific organizations who provide data and knowledge. IUCN emphasizes the need for the use of standardized environmental data such as the IUCN Red List of Endangered Species, the Green List of Protected and Conserved Areas, and the IUCN Global Standard for Nature-based Solutions. Thank you.

I thank the distinguished representative of the organization, I'm sorry, International Union for Conservation of Nature, and I'll give the floor to the distinguished representative of South Centre.

Thank you, Chair. The South Centre is an intergovernmental organization and think tank of the global South. Over the years, we have provided our developing country member states and the Group of 77 and China with policy-oriented research and technical support for the sustainable development initiatives, including in the context of financing for development. We would like to thank the co-facilitators for the presentation of the Elements Paper. The upcoming FFD4 conference represents an important opportunity for addressing the significant shortfalls in mobilizing the resources necessary to implement the SDGs and reforming the international financial architecture. Developing and least developed countries are facing unprecedented challenges in the midst of the global polycrisis, with unsustainable sovereign debt burdens, weak growth in international trade, declining foreign investment, rampant IFFs, weakening ODA, and the expanding digital divide, all contributing to financial distress in a number of emerging and developing economies. Addressing these multifaceted and interconnected issues requires a strong effort by the international community for achieving ambitious, effective, and action-oriented outcomes at FFD4. Mr. Chair, on sovereign debt, many frontier countries are currently struggling with maintaining the debt sustainability, while developing countries are facing an unprecedented level of sovereign debt burdens. Increasing debt service costs, worsening debt vulnerabilities, gaps in global financial safety nets, and interest rate hikes could lead to even more debt distress. Therefore, we want to consider that the critiques of the G20 common framework have shown that reforming the current international data architecture must be a top priority at FFD4. Similarly, concrete measures for promoting foreign direct investment remain vital for developing countries and should also be considered at FFD4. The international tax system is at a critical juncture and it should be boosted further to provide more revenues needed for achieving the SDGs. In conclusion, we stand ready to support developing and least developed countries to ensure equitable outcomes at F54. Thank you, Chair.

I thank the distinguished representative of the South Centre. I now give the floor to the International Telecommunication Union.

Can you repeat that?

I now give the floor to the International Chamber of Commerce.

Thank you, Mr. President. At the International Chamber of Commerce, ICC, we are the institutional representative with UN permanent observer status of 45 million companies from all industries, sizes, and from over 170 countries. ICC holds a deep commitment to the UN Sustainable Development Goals and the Paris Climate Change Agreement. We would like to thank and commend the co-facilitators for preparing the elements paper that represented a good basis for discussions this week. From a real economy perspective, it is clear that the global development and climate goals can only be reached if the financial system is fully aligned in service of those objectives. However, significant financing gaps keep persisting, and in our written submission, we have highlighted areas where FFD4 can help ensure the effective mobilization of public and private financial resources to achieve the SDGs. In this statement, let me briefly focus on three of them. Firstly, we welcome the reference and focus on blended finance in the Elements paper.

When reaching its full potential in terms of both scale and scope, blended finance can certainly show promise.

Despite existing initiatives, we are not there yet though.

While complexity persists on contracting and structuring deals, a real barrier is how to incentivize.

Blended finance in the right way from a private sector perspective and importance of creating the right enabling environment. The right business and investment enabling environment is key in channeling resources into climate resilient sustainable projects. Secondly, trade and trade finance are the backbone of global commerce and can be an engine for inclusive economic growth, poverty reduction and sustainability.

Over the past months, as ICC, we have.

Continuously stressed the alarming debt and liquidity challenges that businesses are facing in the global south. These constraints hinder economic growth and limit the ability of businesses, especially SMEs, to access vital trade finance. FFD4 should request the creation of an enhanced support mechanism that enhances the capacity of financial institutions to provide trade finance to SMEs, particularly by improving credit risk assessment, reducing transaction costs, and leveraging digital solutions to streamline processes. Finally, current financial regulatory and prudential frameworks were established in the aftermath of the 2008 global financial crisis.

I thank the distinguished representative of the International Chamber of Commerce. And I now give the floor to the distinguished representative of the International Fund for Agricultural Development.

On behalf of IFAD, I would like to thank the co-chairs for a very good elements paper. We in IFAD see that the FFD process needs to focus on advancing financing agendas that accelerate implementation across multiple SDGs. In our view, investment in the agri food system is one such agenda that can do this, as a successful transformation of food systems can unlock economic growth and create new jobs, fuel sustainability and regenerate ecosystems, and reduce poverty and hunger, ultimately bringing more peace and stability and reducing pressures to migrate. The Elements paper is in this context a very good starting point, but there is ample scope for a more prominent role for agri food system financing, especially with a focus on rural areas where the root of many development challenges starts. I will highlight two important areas in this context on finance and enabling environment. On finance, we need actions that bring together more sources and flows of finance. We need to make the finance we have do more. This means leveraging the role of IFIs as well as public development banks. We also need to harness private capital flows by assembling and designing instruments that mobilise and de-risk private investment in agriculture and the rural economy. We should also maximise the development impact of remittances and diaspora investment as a significant and dynamic source of private capital flows, on able enabling environment, we need policies, infrastructure, rules and regulations that enable investment and the full participation of all people in economic opportunities. This is what IFAD does by supporting an ecosystem for rural smallholders and inclusive private sector development. This creates the environment for finance to reach the hardest to reach areas, empowering those who are the most marginalized and excluded, such as women, youth, and indigenous peoples. Thank you.

I thank the distinguished representative of the International Fund for Agricultural Development. I now give the floor to the distinguished representative of the UN OHRLLS.

I thank you, Chair, for the floor. I'm delivering this statement on behalf of the USG and high representative of UN OHRLLS, Ms. Rabab Fatima.

The Doha Programme of Action for.

LDCs, the ABAs for SIDS, and the new Programme of Action for LLDCs offer renewed frameworks to address the pressing challenges related to the adverse impacts of climate change, debt, the impact of COVID-19, reduced ODA, etc. The FFD4 process will be a critical moment to mobilize financing to materialize these commitments and accelerate SDG progress. I commend the co-facilitators for incorporating priorities of vulnerable countries into the substantive elements paper for FFD4. Allow me to highlight some key priorities for LDCs, LDCs and SIDS.

First, the development partners need to fulfill their ODA commitments, including achieving the 0.7% ODA.

Over the GNI targets with 0.2% allocated to LDCs. Second, comprehensive measures including debt cancellations are vital to create fiscal space for SDG investments.

The proposed debt sustainability support service for SIDS is a step in the right direction. I thank you, I thank you, Chair. Also, third.

Um, operationalizing the MVI, enhancing developing.

Countries voices and establishing tailored support mechanisms like the International Investment Support Center for LDCs and the Infrastructure Investments.

Facility for LLDCs are crucial.

I'm happy to note that all these priorities have been included in the elements paper.

Fourth, blended finance, SGG.

Aligned investment products and capacity building for project preparation must be prioritized to enhance private sector engagement in vulnerable countries.

Fifth, we must harness the potentials of the instruments.

I think the distinguished representative of the UNOHRLLS. I now give the floor to the distinguished representative of the Office of the High Commissioner for Human Rights.

Thank you, Chair.

Human rights are at the heart of financing for development. Human rights are fundamental in ensuring justice, equity, transparency, accountability, and meaningful participation in decision-making processes. All countries need an enabling environment That allows the fiscal space for accelerating the SDGs towards the realization of all human rights, including economic and social and cultural rights, as well as the right to development and the right to a healthy environment. As Elements paper emphasized, we should not backtrack on our commitments, but make progress. in closing the gaps. We need to challenge the injustice and inequalities in our current system and advance the transformative change of the international financial architecture towards a human rights economy. FFD4 should reaffirm the importance of the UN Framework Convention on International Tax Cooperation, which should ensure fair allocation of taxing rights and tackle tax abuses and evasion. There is an urgent need for permanent mechanism for debt restructuring and a multilateral legal framework that includes both public and private creditors. Debt restructuring and sustainable assessments should allow countries to ring fence resources required for the realization of human rights, such as health, education, and social protection.

The human rights framework provides vital.

Guidance for policy decisions to mobilize and direct maximum available resources to meet their human rights obligations. Human rights mechanisms also provide essential recommendations and offer accountability functions to ensure effective implementation of financing commitments. Lastly, FF D4 process need to ensure strong civil society voice and their meaningful participation. We look forward to an ambitious outcome. We are stand ready to contribute to this process.

I thank the distinguished representative of the Office of the High Commissioner for Human Rights. I now give the floor to the distinguished representative of the International Labour Organization.

Thank you, Chair. Excellencies, the International Labour Organization, as the only UN agency with a tripartite structure, uniquely integrates the voices of governments, employers, and workers. This inclusive approach enables the ILO to serve as a trusted partner to member states, offering tailored solutions to complex financing challenges of sustainable development and social justice. For example, the ILO supports countries as they transition to a low carbon economy by providing technical assistance and policy guidance to ensure that green finance not only creates decent work, but also addresses inequalities and safeguards livelihoods at risk. By aligning investments with employment and industrial policies and mobilising public development banks and innovative financing tools, we help Member States foster inclusive and sustainable growth. Social protection remains a cornerstone of sustainable development and a vital foundation for fostering resilience, reducing inequalities and enabling inclusive transitions across economic, social and environmental dimensions. With nearly half of humanity lacking coverage, the ILO offers expertise to help countries design and implement strategies to expand social protection systems. Our guidance promotes measurable progress, such as increasing coverage by two percentage points annually, and supports efforts to expand fiscal space through progressive taxation, social contributions and targeted international cooperation. We therefore urge Member States to ensure inclusive of social protection in the zero draft financing for development outcome. We also want to draw your attention to the MNE declaration as a tool to help align foreign direct investment with national development priorities. We are looking forward to an ambitious outcome and a link to the world.

I thank the distinguished representative of the International Labor Organization. And I now give the floor to the distinguished representative of the Office of the United Nations High Commissioner for Refugees.

Thank you. By mid 2024, over 122 million people were forcibly displaced, with 70% living in low and middle income countries, often in fragile contexts for more than five years. Their presence significantly affects host country development and microeconomic indicators. Key frameworks like the New York Declaration, the Global Compact on Refugee, and the UN Action Agenda on Internal Displacement charted a new way forward, recognizing the importance of long-term development approaches to forced displacement. The conference can solidify consensus in four areas. First, inclusive development finance. Building on the others above, action agenda recognition of internal migration, international migration as a development issue that must be addressed coherently, comprehensively, we call on development finance providers to explicitly include displaced person and host communities in development plans, climate action and funding. This means recognizing quantify the fiscal impact of displacement for affected countries. Second, global public good. Hosting refugees has been acknowledged as a global public good by the World Bank and OECD and supporting it requires collective action and effective mobilization and deployment of additional financing. We call for global public good related instrument to include support to refugee hosting countries. Third, dedicated refugee financing. Building on the progress made by dedicated development funds and instruments for refugee situation like the IDA window for host communities and refugees and global concessional financing facility, ensure the bilateral and multilateral development finance provides maintain or established dedicated in windows for refugees. This tool needs to be adequately resourced with predictable funding, avoiding trade off with other development priorities. Finally, sustained humanitarian funding. While longer term development action is a key component in responding to forced displacement, humanitarian assistance in conflict and crisis remain essential to stabilize population and foster peace and stability in line with the principle of the HDP collaboration relevant for the conference and its objective of leaving no one behind. Thank you.

I thank the distinguished representative of the Office of the United Nations High Commissioner for Refugees. I now give the floor to the distinguished representative of the United Nations Industrial Development Organization.

Excellencies, ladies and gentlemen, it's an honor to address you on behalf of UNIDO. The landmark outcomes of all major conferences this year are telling us the same story. To accelerate the SDGs, developing countries need to build productive capacities and transform their economies. The Addis Agenda recognizes the importance of investments in sustainable industrialization for economic diversification and job creation. And the Pact for the Future is very clear. Scaling up investments in sustainable industrialization is essential to close the SDG financing gap in developing countries. UNIDO welcomes the proposals put forth forward in the Elements paper. We're happy to see that investments in industrialization are highlighted as a cross-cutting priority. Every job in manufacturing creates on average 2.5 other jobs in other sectors. We also welcome the explicit reference to investments in manufacturing and agri-processing and local value addition to critical minerals, all of which are important to UNIDO's work. So ladies and gentlemen, as we deliberate a new FFD framework, it is all too clear that many developing countries face scarce public resources and high levels of debt distress. Modern industrial policies can help and play an important role in directing financing towards strategic investments in the productive sector. UNIDO is here to support you through concrete solutions on the ground. Just recently, we announced the establishment and the creation of an impact investment fund for SMEs in developing countries, and we would be happy to share more information in this regard. Allow me to close by emphasizing that UNIDO is ready to engage with all of you in the lead up to FFD4 and beyond. Thank you.

I thank the distinguished representative of the United Nations Industrial Development Organization. I now give the floor to the distinguished representative of UN-Habitat.

UN-Habitat welcomes the opportunity to participate in this second session of the Preparatory Committee for the FFD4 Conference. We have high expectations for its outcomes. While we note the Elements paper has missed an opportunity to advance development finance by recognizing the role of cities in driving local development and accelerating the SDGs. In this light, we have two recommendations for inclusion in the outcome document. Firstly, increase investments in cities to address the challenges of rapid urbanization and the global housing crisis. and secondly, strengthen the fiscal capacity of cities through resource mobilization and subnational lending to advance the SDGs. On the first recommendation, rapid unplanned urban growth and unmet demand for local services leads to significant disparities in access to housing, services, and economic opportunities. This often manifests in growing informal settlements and social exclusion. By 2030, nearly three billion people may experience some form of housing inadequacy. There is an urgent need to scale up investment in urban infrastructure and housing. However, effective financing requires an understanding of urban infrastructure deficits, informal settlements and environmental risks. UN-Habitat strongly recommends that financial solutions be designed with a deep understanding of the opportunities of urban systems. Without aligning financial strategies with sustainable urban development priorities and tools, their effectiveness will be limited. On the second recommendation, as the closest level of government to the people, cities are uniquely positioned to plan urban investments and implement strategies that address community needs. Enhancing the fiscal capacity of city governments can accelerate SDGs action locally. Effective financing of urban development requires access to external.

I thank the distinguished representative of UN-Habitat. I now give the floor to the distinguished representative of the UN Office for South-South Cooperation.

Thank you, Chair, Excellencies, distinguished participants. FFD4 represents a unique opportunity to integrate South-South and Triangle Cooperation as one of the key mechanisms for the implementation of the outcomes of the conference in partnership with all stakeholders for the advancement of a more inclusive and sustainable financial system that works for all. South-South and Triangle Cooperation complements the much needed structural reforms. It enables developing countries to share and scale up innovative solutions such as the SDG bonds or using regional platforms to mitigate risks and lower borrowing costs.

Strengthening capacities of countries to access concessional loans and contingency financing mechanism is crucial.

Regional data sharing platforms can further enhance policy coordination and risk management. Reforms of the global financial system should prioritize increasing the representation of developing nations in decision making. The UN Office for South-South Cooperation fully supports and aligns with the Elements Paper, namely on increasing the quality and quantity of South-South cooperation, capitalizing on the UN conceptual framework to measure South-South cooperation, including a marker also on triangle cooperation. Let me add to this the leveraging of the expertise of the UN system to provide the necessary technical support in advancing South-South and Triangle cooperation at the global, regional, and country level. We are committed to contribute through our existing platforms and mechanisms to support the implementation of the outcomes of FFD4, as well as the use of our partnerships through the different trust funds that we manage to be able to leverage and scale up the different modalities proposed by the element papers. Thank you very much.

I thank the distinguished representative of the UN Office for South-South Cooperation. I now give the floor to the distinguished representative of the Food and Agriculture Organization.

Thank you, Chair. FAO strongly believes that the upcoming fourth International Conference on Financing for Development must play a crucial role in advancing the achievements of SDGs one and two. Between one, 176 billion and 3.98 trillion is needed to eradicate undernourishment and help meet SDGs one and 2.1 and 2.2. FFDF should take bold steps towards addressing this gap. To confront the challenge of the current overlapping crisis, it is essential to leverage the role of FFD in preventing and mitigating food-related crisis. This crisis have been drivers of the interconnected shocks that are hindering progress on the agenda 2030. For example, the food price spikes of 2007, 2011 contributed to market slowdowns in economy, economic growth, and the recent disruptions, the food and fertilizer supply chains in 2022 led to unprecedented import spikes on the import bills impacting LDCs and net food importing nations. Therefore, the new global FFD framework must explicitly address the drivers of the overlapping crisis, including actions related to food crisis and agri-food systems transformation across all action areas. The current financing architecture for food security and nutrition is highly fragmented, and better alignment and synergy among the different sources of financing is crucial to SDG2. The Global Alliance Against Hunger and Poverty can play a pivotal role in enhancing better alignment and mobilizing increased finance for food security and nutrition. There's also a need of a new common definition to address issues of accountability and fragmentation and our state of food security and nutrition in the World 2024 report proposed a new definition. FAO stands ready to continue to support this process and work with all of you.

Thank you very much.

I thank the distinguished representative of the Food and Agriculture Organization. I now give the floor to the distinguished representative of the World Health Organization.

Mr. President, it has been widely acknowledged that health is a precondition, outcome and indicator of sustainable development, yet health is largely overlooked in the Elements Paper. In a world where 4.5 billion people, more than half of the world's population, live lack access to health services, and two billion people face financial hardship in accessing such services, there's an urgent need to elevate health to the forefront of global actions. The increasing burden of noncommunicable diseases also poses a significant threat to sustainable development. They're the leading cause of death and disability worldwide, 74% of the global burden. We therefore need to shift towards financial policies that recognise that health is critical to the resilience and stability of economies worldwide and reorient spending for healthier, more sustainable and prosperous societies. Improvements in health development can only be achieved with sustainable domestic public financing. Up to 90% of essential interventions for universal health coverage can be delivered using a primary health care approach. Health taxes generate government revenue while also promoting healthier behaviors. For instance, taxes on fossil fuels can cut deaths from air pollution by 50%. WHO recommends strongly to raise taxes on tobacco, alcohol, and sugar-sweetened beverages. Member states and global partners should promote the Lusaka Agenda, which supports improved alignment and coordination of health financing. External aid remains critical for many low- and middle-income countries. Finally, a commitment to mitigate debt servicing is very crucial, not to cut spending on health systems.

Thank you. I thank the distinguished representative of the World Health Organization. I now give the floor to UNEP.

Thank you, Mr. Chair.

On behalf of UNEP, I would like to share some policy recommendations.

For your deliberations towards FFD4.

First, a transformative whole of economy approach is essential to achieve sustainable system-wide changes using public finance strategically to catalyse and mobilise larger volumes of private finance while reorienting financial flows towards sustainable development. Public budgets are central to sustainable finance. Reducing fiscal risks and attracting concessional and private finance while supporting system wide alignment with climate and nature goals through approaches like UNEP's sustainable budgeting. Second, UNEP emphasizes that phasing out harmful subsidies, including on fossil fuels. and reinvesting these resources into renewable energy and nature-based solutions can unlock billions for climate, nature and pollution action. A just and equitable transition requires protected vulnerable communities during subsidy reform with targeted measures to ensure that no one is left behind. Third, innovative instruments like climate resilient debt clauses and GDP-linked bonds supported by IIF guarantees to absorb risk premiums can enhance flexibility for countries facing economic and environmental volatility, reducing default risks. Fourth, there is need to accelerate the adoption and interoperability of sustainable finance frameworks and promote a whole of government approach that integrates sustainable finance policy with broader economic policies, including fiscal tools, regulations to incentivize investment that contribute to sustainable development. Advancing global standards for corporate disclosure, harmonised taxonomies and coordinated transition pathways is key to enhancing transparency, channelling finance towards climate action, nature positive and socially just outcomes. Mr. Chair, a forward-looking financing framework requires integrating climate and nature.

I thank the distinguished representative of UNAP. I now give the floor to the distinguished representative of UNESCO.

Thank you, Chair. UNESCO commends the efforts to advance the ambitious SDG4 agenda through an inclusive and collaborative process. Positively, the Elements Paper addresses essential components for achieving the SDGs, such as financing for STI and capacity building, artificial intelligence, biodiversity and ecosystems, including ocean preservation and restoration. UNESCO wishes to highlight two other critical and indispensable drivers for us achieving the 2030 agenda. First, Sufficient investing in education is not only a moral imperative, but also an economic and strategic necessity to accelerate progress towards all SDGs. Yet, public financing for education remains inadequate. International community needs to commit and develop sustainable funding approaches, including for domestic resource mobilization and tax reforms. fiscal policy reforms, debt management and restructuring, deployment of innovative financing and new forms of collaborations to increase the volume and quality of funding in the long term. Second, it is essential to ensure adequate public investment in the protection and promotion of culture, cultural expressions and cultural rights. Today, culture sector accounts for 3.1% of global GDP and supports nearly 50 million jobs, representing 6.2% of total employment globally. We need to strengthen public investment mechanisms for the culture sector.

I thank the distinguished representative of UNESCO. I now give the floor to the distinguished representative of UNDRR.

Thank you, Chair. Excellencies, ladies and gentlemen, it's an honor to join you on behalf of the UN Office for Disaster Risk Reduction, UNDRR, an entity dedicated to helping countries reduce the burden of disasters. As you consider how to shape the financing for development agenda to deliver benefits for the years to come, I would like to highlight two facts for your consideration. The first is that reducing disaster risk is a prerequisite to sustainable development. That is because it's impossible for developing countries to achieve sustainable development if they are constantly recovering from disasters. To prevent this, countries must integrate disaster risk reduction into economic policy, financial planning, and investment decision. This will ensure that investment do not create new risk, and that existing risk are reduced as well. The second is that financing for disaster prevention must be increased. Currently, disaster-related financing is disproportionately focused on post-disaster response and recovery. As the economic cost of disaster continue to grow, this approach is unsustainable. Meanwhile, investing in risk reduction not only saves lives, but also generates benefits in avoided loss equal to two to 10 times the amount invested. Based on these two facts, We humbly ask that disaster risk reduction be central in the new financing for development agenda.

In support of this

and to aid your deliberation, UNDRR has put forward an input paper with concrete proposals to ensure that the next FFD agenda is a vehicle for building disaster resilience. In closing, I would like to reiterate UNDRR commitment to supporting this committee and to our commitment to helping all countries safeguard development from disasters. Thank you.

I thank the distinguished representative of UNDRR. I now give the floor to the distinguished representative of UN Women.

Thank you, Chair. Excellencies, distinguished representatives, UN Women thanks the co-facilitators for the Elements Paper, and we also commend the many Member States that have underscored the importance of financing gender equality during this PrepCom. an estimated six point four trillion usd per year is required across forty eight developing countries to eradicate women's poverty by two thousand and thirty however declining revenues regressive tax structures and high debt repayments severely constrain space for the investments needed to close gender gaps. in march at the sixty eighth session of the commission on the status of women member states adopted a comprehensive framework on financing gender equality. This FFD process is an opportunity to build on this consensus and to further embed gender equality, not only as a cross cutting issue, but as a systemic issue requiring structural change and financing from all sources. UN Women wishes to highlight three priority areas. First, to make international financial systems work for women. Structural reforms are needed to address both systemic barriers and the under representation of women in leadership roles. Number two, domestic public finance is essential to close gender gaps. Public finance must prioritise sectors on which women depend, including healthcare, education and social care, while austerity measures that impact public and social services should be avoided. By shifting towards progressive taxation and implementing gender responsive budgeting, countries can expand their fiscal space to finance national gender equality action plans. Third, investment in social protection and care systems can address inequality. Expanding access to finance, credit and financial services for women is a driver of economic growth. Multilateral development banks have a critical role to play in increasing financing for gender responsive programmes, especially in infrastructure and the digital finance sectors. In closing, UN Women stands ready to support Member States to advance norms and standards on gender equality.

I thank the distinguished representative of UN Women. I now give the floor to the distinguished representative of UNCDF.

Thank you, Chair.

UNCDF was

created to help countries, especially least developed countries, in improving their economies and making them more sustainable, including concessional loans. Currently, UNCDF is carrying out its mission in collaboration with others, including governments, private sectors and the UN system to deploy subsidies, guarantees and loans to mobilize resources for pro-SDG initiatives and to maximize the impact of public, of ODA. UNCDF is striving to contribute to capital systems to transform projects into bankable opportunities linked to the SDGs. FFDF4 should prioritize mobilizing private sector resources, especially when it comes to LDCs and emerging economies, while strengthening partnerships to develop environments that are favorable to local capital markets and SDG investment portfolios. FFDF4 should also prioritize the expansion of financing for SMEs, including businesses led by women and young people and encourage mixed financing. These are two issues that the UNCDF views as crucial for encouraging local inclusive sustainable development. We strongly support the proposals in the element paper of PrepCom to help donors pool concessional funding that could be employed as guarantees and risk absorbing loans for the private sector. The UNCDF stands staunchly alongside its partners to transform the agenda of F54 into concrete action. Thank you.

I thank the distinguished representative of UNCDF. I now give the floor to the distinguished representative of the World Bank. Thank you.

Thank you, Chair, and special thanks to the FFD4 host, co-chairs,

co-facilitators for their work on this very important elements paper. The World Bank Group contributed to knowledge bases and fragmentation trends in the aid architecture, the importance of domestic resource mobilization, and mobilizing private capital, including through blended finance. We hope FFD4 will revitalize agreed principles on aid effectiveness if we are to deliver much-needed financing on lasting development outcomes. The World Bank Group has shoulder to shoulder with the UN since Monterrey, shifting how we did development by putting development countries in the driver's seat. We strongly believe in this model. Throughout the years, we have been evolving to become a better bank for a changing world. And we are, in the past 18 months, taking biggest steps to increase available financing by $150 billion over the next 10 years. And we are committed to doing much more. As a concrete step, I am pleased to announce that I am with the support of the World Bank Group, Cote d'Ivoire will complete a debt for development swap, the first transaction of its kind for the World Bank. The debt swap will target close to 400 million euros. and Cote d'Ivoire's debt, freeing up 330 million euros in budget resources over the next five years, 60 million of those which we invested in education. Also delighted to report that the donors successfully wrap up the IDA 21 reparations meetings with an envelope which through IDA's unique leveraging model will generate $100 billion. This money will provide critical grants and long-term no-interest loans for health, education, electricity, infrastructure, and critically, to create jobs in the countries that need the most. To conclude, I would like to reiterate our commitment to work with all of you in support of the countries we serve and FFD4 efforts. Thank you.

I thank the distinguished representative of the World Bank. I now give the floor to the distinguished representative of CESR.

There I speak on behalf of the Center for Economic and Social Rights and the civil society FFD mechanism as we approach FFD for conference We stand at crossroads the global financial architecture and its governance remain inadequate rooted in historical inequalities and legacies of colonialism It has imposed disproportionate burdens on developing countries Undermining their right to development and ability to meet their economic and social rights obligations towards their people It exacerbates inequalities within and between countries and places, disproportionate burden on women, girls, gender and race diverse people. FFD4 must be a path towards meaningful transformation, embracing a bold, feminist, green, anti-racist, and rights-based global financial system that advances women's and girls' human rights and empowerment as mandated by the Addis Ababa Action Agenda. The Elements paper highlights some of these challenges, but offers limited solutions instead of transformative measures. Outcomes must align with member states' human rights obligations, including under ICESCR and CEDAW. Human rights law states that states must mobilize maximum available resources and spend them justly. States must ensure fiscal space for international cooperation to address decent jobs, universal social protection, reduce care loads, and avoid reliance on financial inclusion schemes that risk women indebtedness. Debt repayment obligations must not trump human rights obligations. IFIs and MDBs must be reformed accordingly. A UN framework convention on sovereign debt can ensure equitable restructuring and relief, enabling countries to have the fiscal space necessary to address gender justice and climate justice.

I thank the distinguished representative of CESR. I now give the floor to the distinguished representative of the Global Infrastructure Finance and Development Authority.

Thank you very much for invite and all the presence. I am CEO and a chairman of the Global Infrastructure Finance and Development Authority. We saw this gap about financing and providing financing for the entire infrastructure, whether it's in agriculture, health and human services, or critical infrastructure. we are designed in a fashion that we can actually provide tax exempt bonds without putting that debt on the country or its natural resources. This is independently financed throughout the world and we are doing projects in the US and other countries. We open this opportunity for everyone here for housing as well as for the health and human services and many other facets. Food chain is also very important to us.

So we debt finance it. we restructure the financing, it is

exactly to the team that I'm hearing all day here and what is in the pamphlet. We are here to provide that financing mechanism even for the housing. For example, I believe in Nigeria it's like 17 million shortage of housing, other parts of the world as well. California has like three million shortage of housing.

So no matter which way we go,

we look at it, how we can finance and take the debt on ourself and improve the Uh, GP, GDP for the country, and it's not rated on, uh, credit rating of the company or the country, it is based on the project finance and its, its own sustainability, so long term investment in… human capital, long-term investment in infrastructure, long-term investment in sustainability, climate, and we have seen the two dangerous aspect that took place in recent years is climate and COVID.

This kind of agitated things more.

So we are here to finance the projects. Anyone has need, please contact us. Thank you.

I thank the distinguished representative of the Global Infrastructure Finance and Development Authority. I now give the floor to the distinguished representative of Djibouti.

Thank you very much, Mr. Chair. At the outset, I would like to specify that my delegation fully aligns itself with the statements delivered respectively on behalf of the G77 plus China group, the African group, and the LDC group. I have the honor of delivering this statement on behalf of the Republic of Djibouti in our national capacity. I would first of all like to congratulate the co-facilitators who have prepared this elements paper. And we would like to make the following remarks. We must support developing countries in general and vulnerable countries in particular to strive toward sustainable development in accordance with the principle of leaving no one behind, as well as for the sake of international solidarity. Vulnerable developing countries are facing a number of challenges, including low mobilization of domestic resources for financing development, inadequate access to ODA in light of their needs. high debt with commercial conditions to finance crucial infrastructure for their development, which has led to extremely high debt levels for certain countries, the negative impact of climate change on their infrastructure and their population health. Paradoxically, these are the countries that have contributed the least to climate change and that are now suffering more than others its negative impact. Climate shocks continue to hamper the development of these countries. In light of these of these challenges, we underscore the following points: contributing to strengthening the capacity of developing countries to improve domestic resource mobilization is important, as well as accelerating the transfer of technology for allowing for rapid development, increasing ODA flows toward those countries when it comes to infrastructure in particular. and linking climate and development. In closing, I would like to recall that SDGs are a global call to eradicate poverty, protect the planet, and microphone is cut off for the speaker.

I thank the distinguished representative of Djibouti. We have heard the last speaker for this meeting. We'll reconvene it this afternoon at 3:00 PM for the closing meeting of the second session. I thank you for your participation. The meeting is adjourned.