Preparatory Committee for the Fourth International Conference on Financing for Development: informal briefing

Good morning everybody. Please find your seats. It's a pleasure to see such a full room. Excellencies and distinguished delegates, dear friends, I call to order this informal briefing of the Preparatory Committee for the Fourth International Conference on Financing for Development. I am pleased to inform delegations that interpretation is available for this informal briefing. As announced in the letters dated 17 December last year and 17 January this year, respectively, sent by the four cofacilitators of the FFD4 outcome document, At this morning's briefing, we will make an introduction of the zero draft outcome document, as well as of the roadmap for negotiations, both which were circulated to all delegations on the 17th of January. Following the introduction, we will invite delegations to present their initial comments on the text. Now, before hearing the introduction of the zero draft, I would like to indicate that there is no pre-established list of speakers for this briefing. So delegations wishing to deliver statements are invited to indicate so by pressing their microphone button starting now. Those speaking on behalf of a group, should approach the Secretariat to be given priority in the speaking order. Good, lots of green lights. I now invite my fellow co-facilitators, the Permanent Representative of Nepal, Ambassador Lok Bahadur Thapa, and the Permanent Representative of Zambia, Ambassador Chola Milambo, to introduce the zero draft text on behalf of the four co-facilitators. Lock, you have the floor.

Thank you. Excellencies, distinguished delegates, ladies and gentlemen, it is our pleasure to present the zero draft of the outcome document of the fourth international conference on financing for development and the proposed roadmap for negotiations. Speaking on behalf of the four co-facilitators, Mexico, Nepal, Norway and Zambia. I extend our appreciation to all the Member States and stakeholders for their valuable engagement and input in this process so far. The zero draft has been developed based on the substantive comments and risk feedback received on the elements paper during the second sessions of the Preparatory Committee. We are grateful for the input provided and have made every effort to ensure that the zero draft reflects your priorities and the contributions, as well as our shared objectives as co-facilitators to deliver an ambitious and action-oriented document. We are confident that you will continue to engage constructively as we advance. and that you will highlight any areas that may require further attention or refinement, as well as any gaps you have identified in the zero draft. Your insights, those that you will share today and those you will share at the upcoming third session of the Preparatory Committee from 10 February, are crucial to arriving at an ambitious consensus in Savile. Excellency, the zero draft starts out by recognizing that the world is facing a sustainable development crisis with the SDG off track, growth prospects poor, systemic risk rising, and deep financing divides between developed and developing countries. It is in this very challenging global context that we gather to develop a renewed global financing framework for sustainable development. This renewed financing framework supports a sustainable development investment push with additional and innovative financing mobilized from all sources, starting with additional concessional financing development bank lending and systemic response to countries facing high debt service burdens. It also includes commitment to mobilize additional public resources domestically and incentivize more private investment through blending instruments and regulatory reforms. Increasing scale goes hand in hand with a strong and consistent focus on sustainable development impact. The zero draft contains many actions to enhance the quality of financing and to ensure alignment with the sustainable development. To sustain investment architecture reform is critical. Responding to the mandates of the conference to support IFAs, IF reform. The zero draft contains action to make this architecture more effective. That is more responsive to the needs of the countries facing shocks and more inclusive by enhancing developing country representation in international financial institutions. In all these areas, we need both national and international action. We aimed for a balanced text that underscores the importance of country-led financing strategies, plans and frameworks, while aligning international cooperation and the international financial architectures with national priorities and the needs. Excellencies, allow us to highlight some of the specific commitments and the proposal in the zero draft. The ongoing sections on the global financing framework highlights key cross-cutting priorities for financing, in particular those areas that require a combination of public and private financing and need to be addressed in domestic and international financing policies. The Addis Ababa Action Agenda underscores domestic public resources is crucial for financing sustainable development. Recent stagnations in tax revenue amidst weak global growth underlines the need for stepped up national reforms and international actions, including enhanced tax cooperations and measures against illicit financial flows. The zero draft emphasizes the importance of transparency and accountability in fiscal systems and their alignment with sustainable development. It commits to support developing countries in this regard. It also includes a robust package of actions to address illicit financial flows, such as the regulations of professional service providers and the establishment of annual ECOSOC special meeting on financial integrity. And it includes commitments to strengthen national development banks as a key but often underused resource of long-term financing. On private business and finance, the zero draft notes that the private investment in sustainable development has remained below expectations raised in Addis Ababa 10 years ago. This is at least in part due to high cost of capital and misaligned incentives. Overcoming these challenges through systemic reforms at national and global levels is essential to bridging the SDG investment gap. The zero draft highlights the need to evolve in enabling environment to focus on sustainable development investment. It also calls for the focusing blended finance on impact rather than on leverage ratio alone, and developing standardized approaches and standardized metrics to measure impact. The zero draft also commits to advancing sustainable finance with a focus on double materiality and interoperability. Excellencies, now I hand over the floor to my colleague, PR of Zambia. Ambassador, His Excellency Ambassador Chula Milambo to continue the presentation. Thank you.

Thank you very much. Good morning, everybody. I will continue from international development cooperation, and then we'll run through the document, and then I'll hand it over to Ambassador Alicia for the roadmap. Excellencies, international development cooperation is the key to the 2030 agenda. as it complements country efforts to mobilize domestic resources. However, the shift in allocation of development cooperation away from long-term investments in sustainable development, fragmented support and inadequate country ownership undermine its effectiveness. Reforms are needed to align international cooperation with country priorities and honor commitments and focus on sustainable development outcomes. The zero draft calls for among other things, strengthening the ODA to LDC target of to 0.2% of donor GNI, gross national income, and a commitment to increase the share of ODA program at country level, along with an invitation to the Development Assistance Committee of the OECD to develop a measure and target for this. The draft also supports scaling up of lending of multilateral development banks through capital increase and rechanneling of special drawing rights through the MDBs. It underscores the importance of reforming and revitalizing the development effectiveness agenda and addressing a development cooperation architecture that strengthens dialogue, coherence, and norm setting. On trade, Trade is an engine for development. The zero draft acknowledges the challenges posed by rising tariffs and restrictions as well as digital disruption to multilateral trade. Developing countries need strengthened capacities to integrate into value chains and benefit from commodity trades. The zero draft recognizes the need to balance policy space for transformation with a rules-based approach to avoid excessive trade restrictions. It commits to developing trade-related physical and digital infrastructure and providing tailored support to LDCs and other vulnerable countries to benefit from trade integration, including through exports of critical minerals and other commodities. On debt, high debt levels and borrowing costs have constrained countries' abilities to invest in the SDGs. Systemic support for heavily indebted countries and faster, deeper and fairer debt restructuring are crucial to restructure debt, to restore fiscal space and in ensuring sustained investment in sustainable development. The zero draft puts forward commitments to reconciling and strengthening responsible borrowing and lending principles and enhancing their implementation. It commits to enhance fiscal space for countries faced with high borrowing costs through an initiative housed at an international financial institution. This initiative will provide coordinated financial and capacity support. The draft also envisions the initiation of an international intergovernmental process at the UN to close gaps in the debt architecture and explore options to address debt sustainability. On systemic issues, systemic risks and inequalities persist in the international financial system. Reform is needed to create a fairer, more responsive global monetary and financial system that support developing countries and to foster macroeconomic stability. The zero draft includes specific measures to advance governance reforms, including by restoring base votes in IMF quarters to support small countries. It outlines the creation of a new playbook for the SDRs that would introduce new rules-based approach to issuance and ex ante agreements for rechanneling of SDGs. I'll read that again. It outlines the creation of new playbook for SDRs that would introduce new rules-based approach to issuance and arrangements for returning SDRs. It seeks to advance credit rating reform and promote long-term model-based ratings by official entities and systemic engagement with private rating agencies at the ECOSOC. Science, technology and innovation. Science, technology and innovation drive sustainable development, but are hindered by unequal access and inadequate infrastructure. Coordinated efforts are required to close digital divides, support national capacities and regulate technological advancements, including AI and fintech, to maximize benefits while mitigating risks. The Zero Draft supports mission-oriented SDI roadmaps. and an assessment of major obstacles to international technology diffusion. It includes a commitment to develop financing plans and coordinate investment in digital public infrastructure and digital public goods as part of national financing frameworks and technical support from partners through country-led platforms. The draft also proposes to consider exploring principles for safe, equitable, and inclusive development and use of AI in fintech. High quality data and statistics are essential for financing for development. They enable informed decisions and effective monitoring. Strengthened follow-up mechanisms are crucial to ensure sustained progress in financing for development. The zero draft includes a request for the interagency task force on FFD to propose a concise set of financing indicators to measure the progress and implementation of the FFD agenda. It proposes deeper discussion in the FFD forum through a biennial review cycle of action areas. The draft also includes an invitation to countries for presenting their progress and challenges in implementing the FFD outcomes at the forum in a similar manner, a similar format to the voluntary national reviews, the VNRs, on SDG implementation. Excellencies, we hope that this zero draft lays the foundation for a substantive and ambitious outcome in Seville. We look forward to your reflections at this stage and remain committed to work tirelessly to develop a final agreement that encapsulates your priorities and represents a truly shared global vision for financing for development. Uh, with this, uh, at this occasion, I'll be, uh, most honored to hand over the mic to Ambassador, uh, DPR for Mexico, Ambassador Alicia, the floor is yours.

Thank you very much, uh, Ambassador Chola, and, uh, a pleasure to be here with all of you, excellencies, ladies and gentlemen.

So what I will have to do?

Just and share with you is to present the negotiations roadmap for the outcome document of the fourth International Conference on Financing for Development. Our goal is to ensure that this process is transparent and collaborative and that all voices are heard.

Throughout the stage, each stage of the negotiations.

Allow me first to outline the key milestones in the roadmap for your consideration. So first of all.

During the third preparatory conference that takes place from February 10th to 14th, DECA facilitators will hold the first.

Reading of the outcome document.

Member States.

And stakeholders will have an opportunity to share their comments on the ideas and the substance of the zero draft.

During this reading, we will go chapter by chapter, collecting comments, proposals and reactions to the contents of the draft.

And we will do so, and we will do this reading based on the flow of the document. meaning we will start with the chapter titled A Renewed Global Financing Framework and move on as soon as all comments are exhausted for each section. For this exercise, the text will be projected on screen for everyone to follow. However, please note that on-screen edits will not be made during this session in order to allow for a more efficient reading.

As noted in our previous letters, the co-facilitators encourage member states to focus.

More on the feasibility of the proposals contained in the document and not on language edits. After the conclusion of the third preparatory conference, co-facilitators will take some time to review and assess the comments and.

Proposals shared by member states.

And stakeholders in order to produce a first revised outcome document to be released as soon as possible. It is important to note that during the period between the third preparatory conference and the publication of the first revised draft outcome.

Co-facilitators will continue to engage with Member States and stakeholders and will reach out if further consultations are required.

The publication of the first revised outcome document will also mark.

The beginning of the intersessional negotiation phase of the process.

We will provide Member States and stakeholders with a period in the middle of March to review the first revised.

Draft outcome and consult with their respective capitals and groups to form negotiating positions ahead of the first round of intercessional negotiations scheduled from 24th to the 28th of March and from the first to the 4th of April.

These intercessional negotiations will follow the same dynamics as in other United Nations processes and will be held in close meetings with the membership where we will engage in line by line negotiations on the revised outcome document. Please note.

That similar to this briefing, the first and second intersessional will also kick off with an informal PR level meeting.

To hear general comments from the membership.

These two briefings are scheduled for March 24th and May the 2nd. We also plan to hold regular town halls with stakeholders to update them on the process.

Compilation text will be shared.

After each session ends to give member states the opportunity to consult with capitals and groups.

Moving ahead, we will take another break in between intersessional to allow for further consultations amongst.

Groups, and we will reconvene for the fourth preparatory conference scheduled for April the 30th to May the 1st.

We will consult with co-chairs of the FFD4 Bureau and its members to ensure that the program of work for this fourth preparatory conference suits the needs of the negotiation process and provides support where necessary.

Additionally, please note that as outlined in the roadmap, the fourth preparatory conference will be suspended on the 1st.

Of May and resumed sometime in June. This decision has been made to also support the second and third periods of intersessional negotiations scheduled for the weeks of the 5th to the 9th and the 27th to the 30th of May and allow for additional rounds of informal consultations if necessary.

The issue surrounding the split of the fourth preparatory conference responds to the need to hold an official session of the preparatory process in which member states can conclude the negotiation process of the outcome document and proceed to adopt the text in an official manner before we head to Seville, Spain, for its adoption at the highest level possible. Therefore, as co-facilitators, we encourage Member States to engage constructively and to use the time we have outlined for negotiations wisely in order to produce an outcome document that the whole membership can support and adopt ahead of the fourth International Conference on Financing for Development. And with this, we thank you for your continued support, and we look forward to a positive and constructive negotiation process.

I thank.

Thank you very much, Ambassador Elisea, and thank you, colleagues. Now, we are quite eager to hear what you have to say by way of initial comments, so we will now proceed to have statements from the floor. I kindly request speakers to observe the time limits of five minutes for statements on behalf of groups and three minutes for interventions in a national capacity, in order to give all those wishing to speak the opportunity to take the floor. I now will give the floor to the distinguished representative of Iraq on behalf of the Group of 77 and China, to be followed by the distinguished representative of the European Union. Iraq, you have the floor. Microphone for Iraq, please. Yes, there you are.

Thank you, madam. Distinguished co-facilitators, excellencies, dear colleagues, I have the honor to deliver this statement on behalf of the group of 77 and China. Allow me to commend the co-facilitators for their diligent efforts to preparing the zero draft of the outcome document and outlining the roadmap for negotiations. Due to time constraints, I will deliver shortest version of our statements, while the full text will be submitted to the co-facilitators for their considerations. The fourth International Conference on Financing for Development presents a crucial opportunity to address the significant challenges faced by developing countries, particularly the widening SDGs financing gap, mounting debt burdens, and systemic inequities in the global financial and trading systems. As we move forward, we must ensure that the outcome document delivers ambitious, implementable and transformative commitments, putting development at the center of all our efforts to support financial for sustainable development, including by reaffirming that the eradication of poverty is the greatest global challenge and essential prerequisite for achieving sustainable development while ensuring that no country or no person is left behind. facilitators allow me to share some initial points to and reactions that the group wishes to highlight regarding the zero draft these reflections present the preliminary views of our membership and are intended to contribute constructively to this important process addressing systemic issues the group appreciates that the draft highlights the reform of the international financing architecture, which is critical to ensure it is fit for purpose to better respond to the present and the future challenges. of the view that FFD4 shall call for accelerating the reform of international financial architecture while enhancing the voice of representations of developing countries in international economic decision making, norm setting and global economic governance. Additionally, we call for enhancing microeconomic policy coordination and making joint efforts to keep the international financial market stable and to prevent negative spillover of domestic monetary policy adjustment, domestic public resources. The group takes note of the proposed commitments to the aligning physical system with the sustainable development, including progressive taxation and combating illicit financial flows. However, capacity building support must be strengthening to enable institutional reforms and the digitalization of tax system to burden the tax Uh, based and, uh, integrated the in, uh, infor- uh, informal sector. National development banks must be empowered with the external financial tailored regulatory, uh, regulatory. regulatory frameworks to mobilize long-term financial aligned with the national development strategies. International trade as an engine for development. International trade is critical to inclusive growth, but barriers remain for developing countries. We stress the importance of strengthening the multilateral trading system based on the principle of equity, transparency, and special and differential treatment with the World Trade Organization at its core, which stresses the importance of promoting an open global economy and support liberalization and facilitation, trade and investment, we reiterate our rejection of unilateralism and protectionism. Domestic and international private business and finance, the group notes with appreciation that many of the points it put forward in its submission are reflected in zero draft. We welcome the recognition of the need for systemic change at both national and global levels, as well as the emphasis on the strengthening the global enabling environment for long-term private investment in sustainable development. We also appreciated the inclusion of MSMEs in the zero draft and emphasize that enhancing their access to credit and risk management tools, particularly for women entrepreneurs and smallholders, farmers, remains critical. Science, technology and innovation, the group is encouraged. by the folks of STI, the zero draft. However, we stress the need for deeper commitments to address the deeper market impacts of technological advancement, including brain drain and job displacement. We call for enhanced cooperation in technology transfer, sharing, and capacity building force to support developing countries in advancing scientific and technological innovation. In this regard, we must work together to foster an open, fair, just, and nondiscriminatory international environment. Data monitoring and follow-up. The group recognizes the importance of data for effective decision-making and accountability. We call for investment to innovate. innovative data collection methodology to generate real time information and for strengthening support for statistical capacities in developing countries, international development cooperation. We reiterate that international development cooperation, especially North-South cooperation, remains a fundamental catalyst for sustainable development. We emphasize the need for binding timeframes for ODA commitments and call for reversing the trend of concessional loans replacing grants. We call for the fulfillment for existing commitment including ODA by developed countries as well as the announcement of new commitments. It is critical to maintain the distinction between climate finance and development finance to ensure that resources for sustainable development are not diluted. In conclusion, the zero draft provides an initial foundation but needs to be strengthened to fully reflect the realities and priorities for developing countries. The group is particularly encouraged by the inclusion of line by line negotiations in the roadmap. As this approach we strongly advocate by the G77 and China and its elements paper. We thank the co-facilitators for recognizing this priority as it is ensure detailed and inclusive discussion on this draft text. However, we request that the REV1 be released in the first week of March in order to provide the group with the sufficient time to receive feedback from capitals and to formulate its position for the text-based negotiations. The group of 77 and China remains committed engaging constructively in the negotiations to ensure balance, inclusive and actionable outcome document that accelerates progress toward financing for development. I thank you, Madam Chair.

I thank the distinguished representative of Iraq on behalf of the Group of 77 and China. And now I give the floor to the distinguished representative of the European Union. to be followed by the distinguished representative of Palau on behalf of AOSIS. EU, you have the floor.

Distinguished Chair, I have the honour to speak on behalf of the EU and its member states. A sincere thank you to the four co-facilitators for the zero draft before us and for presenting a roadmap for the way ahead. You have my assurance that the EU and its member states will continue to be actively and constructively engaged in this preparatory process. While we are still assessing the details of the document, I would like to offer a few preliminary reflections on substance and an appeal on the process. First, three points on substance. Last September, our leaders convened a summit of the future. They agreed a comprehensive and above all ambitious pact to turbocharge implementation of the 2030 agenda and the SDGs. We are all well aware of the massive mismatch between SDG implementation needs and their financing. The growing gap is of grave concern. In these challenging circumstances, the FFD4 process now has to make good on the ambition of the pact with concrete and realistic actions to implement the vision. These actions that must demonstrate tangible, measurable impact on the future of people and the planet will pave the path to that vision and build renewed trust in multilateral cooperation. So this is the key first point. It is crucial that we focus on agreeing to actions that will move the needle and deliver concrete results. Establishing a strong monitoring and follow-up mechanism will be crucial to ensuring that the political momentum generated in Seville translates to action and results. Second, we will have to be more coherent, more inclusive, more effective and more efficient with the resources that are available. All possible resources have to be mobilized, public and private, domestic and international, and all stakeholders will have to do their part. With the Addis Ababa Action Agenda as our starting point, the Sahel outcome will not start from scratch. We need to recognize and acknowledge what already has been achieved and is being done, such as the ongoing MDB reforms. We should focus on improving and building on existing structures, ongoing work and processes, including in other international fora such as the G20. So, colleagues, let us prioritize efficiency, coherence, and avoid duplication. You must respect and make the best use of the independent roles and mandates, strengths, and advantages of various global institutions and actors, and make use of the synergies and complementarity that we should promote for more and better collaboration. including with the private sector and other stakeholders. Third, explicitly targeting inequalities within and between countries with a purpose, measurability and accountability must be at the heart of all our actions. Targeting inequalities. Madam Chair, let me at this stage congratulate the co-facilitators for the work they have done in synthesizing the rich and ample palette of inputs and ideas into the zero draft. The EU and its member states will come with more precise feedback, questions, suggestions in due course. Some of the specific priorities mentioned in the document that we strongly support include enhancing fiscal systems, both for revenue and expenditure, improving enabling environments at all levels, leveraging private capital mobilization and finance through innovative financial instruments and de-risking mechanisms such as guarantees. We support doubling down on known development multipliers, such as good governance, human rights, and the rule of law, human capital and skills, science, technology, and innovation, as also mentioned by the group of G77, gender equality, and the economic empowerment of women and youth. We also fully agree that financing for climate, biodiversity, and the environment, and for other dimensions of sustainable development are closely interlinked. We strongly support aligning finance flows with the goals of the Paris Agreement and the Kunming-Montreal Global Biodiversity Framework that remain as important as ever. We also encourage the invigorating work on the development effectiveness agenda with a strong focus on impact. Now, there are also a number of actions on which we have questions and concerns, which -- and which would require further clarification, context, and better balance. These include, for example, elements relating to the global financial safety net and SDR insurance, debt architecture, debt sustainability analyses, credit ratings, some of the proposals relating to the illicit financial flows, prudential treatment and taxation. Finally, there are also some important issues that we see as still missing from the text. financing of the peace-building agenda. bearing in mind that 40% of those living in extreme poverty are in conflict-affected countries. Madam Chair, I would like to conclude with an appeal on process. With less than six months to go, clarity, predictability and focus will be of utmost importance. We would encourage agreeing to and sticking to a roadmap, a draft of which you have circulated, on the basis of feedback from Members by the third PrepCom. who specifically recommend circulation of at least one, if not two, revisions of the outcome document to facilitate reaching a consensus text ahead of the Conference. And of course, the process should be inclusive and transparent. Madam Chair, dear colleagues, I close by reiterating the commitment of the European Union's Member States to engage fully and constructively with all delegations, stakeholders and partners in this process. And I look forward to the third PrepCom in February. Thank you.

I thank the distinguished representative of the European Union and I now give the floor to the distinguished representative of Palau on behalf of AOSIS, to be followed by the distinguished representative of Burundi on behalf of the African group. But Palau, you have the floor.

Distinguished co-facilitators, I have the honor to deliver the following statement on behalf of the Alliance of Small Island States. I align these remarks with the statement delivered by Iraq on behalf of the Group of 77 and China. At the outset, allow me to express the group's appreciation for the presentation of the zero draft of the outcome for the fourth International Conference on Financing for Development, as well as the roadmap for our negotiations. For EOSIS, we understand the complex issues at play and the differing opinions that will emerge. However, we firmly believe that these complexities ought not to deter us from fundamentally addressing the systemic failures of the international financial system head on. As stated during the second session of the Preparatory Committee, AOSIS considers this process crucial for advancing the implementation of the 2030 Agenda, as well as ensuring the comprehensive and effective execution of the Antigua and Barbuda Agenda for SIDS. The outcome of the FFD4 must serve as the engine that drives the fulfillment of these commitments. While we are still in the process of reviewing the zero draft, AOSIS wishes to make the following preliminary comments. First, the outcome document must uphold and reinforce longstanding principles that have guided the development agenda. This includes the recognition of small island developing states as a special case for development combined with concrete measures and commitments that will support our efforts toward resilient prosperity. We note that while the zero draft contains several valuable proposals, many of them imply a one-size-fits-all approach. This undermines the unique circumstances and vulnerabilities facing SIDS, whose small size, limited resources, and remoteness require more tailored and nuanced approaches to financing development. Second. While we recognize that climate finance is a crucial element to ensuring that no one is left behind, EOSIS stresses that the outcome document must not in any way renege, rewrite, or dilute the principles, commitments, and decisions agreed upon under existing legal frameworks, including the UNFCCC and its Paris Agreement. It is therefore essential to contextualize these commitments within the outcome document. reaffirming the principle that climate finance should be considered additional and distinct from the development finance, biodiversity finance and humanitarian aid. This acknowledgement is crucial for achieving consensus on any proposals related to these streams of finance. Lastly, EOSIS views the the reform of the international financial architecture as central to the outcome document. For decades, SIDS have sought a more representative, equitable and just international financial system that is tailored to meet their specific needs. We believe that this area of the text can be further strengthened and more ambitious to correct the deeply entrenched imbalances that exist in the international financial system and to better address SIDS heavy debt burdens, climate related vulnerabilities and boost their economic growth. As such, EOSIS will explore proposals to enhance SIDS representation and participation in global economic and financial governance promote debt governance and sustainability, including through debt relief mechanisms that encourage investments in resilience without creating new debts. We also call for the scaling up of ocean finance for SIDS and the use of multidimensional vulnerability, including the MVI. In closing, distinguished co-facilitators, AOSIS has made note of the roadmap presented today, and in this regard, we emphasize the importance of ensuring that all delegations, especially smaller delegations such as ours, are given the time and opportunity to engage fully in the intergovernmental process. AOSIS remains committed to continuing its constructive engagement, recognizing that the work before us is simply too important to fail. I thank you.

I thank the distinguished representative of Palau, and I now give the floor to the distinguished representative of Burundi on behalf of the African Group, to be followed by the distinguished representative of Bangladesh on behalf of the Least Developed Countries. But Burundi, you have the floor.

Thank you. Dear co-facilitators, distinguished colleagues, I have the honour to deliver this statement on behalf of the African Group. We take this opportunity to thank the co-facilitators for preparing the zero draft. This document provides a strong foundation for discussions, but we consider that important gaps still remain and need to be addressed as indicated in the African group proposals made during the second preparatory committee session, particularly on the domestic resources mobilization and debt and debt sustainability sections of the elements paper. The domestic resources mobilization section highlights several key issues in international tax cooperation, including base erosion and profit shifting, tax transparency, and inclusivity. However, certain aspects require refinement to better safeguard the interests of developing countries, ensuring that they do not face undue burdens while achieving equitable benefits. One aspect requiring further refinement is paragraph 30G, While the paragraph appropriately emphasizes the need for demand-driven technical assistance and capacity building programs to enable participation in international tax cooperation frameworks, referencing the two-pillar solution as the only example presents a challenge. This reference highlights the primary concerns of developing countries regarding this framework, particularly the lack of inclusivity in its design process. Rather than capacity building initiatives aimed at implementing frameworks developed without the involvement of some of our countries, what is truly required is the establishment of an inclusive and effective international tax cooperation framework, such as the one currently under discussion at the United Nations. To this end, we would propose that paragraph 30G remain broad in its scope, avoiding a listing of specific examples as this may open up the paragraph to a listing of other frameworks. could be overly prescriptive. Dear co-facilitators, regarding the debt and debt sustainability section, the outcome document must outline concrete and ambitious measures to reform the international debt architecture and address the systemic inequities, inequalities rather, which perpetuate Africa's debt challenges. We recognize the importance of maintaining in the zero draft for reference to an intergovernmental process to close gaps in the international debt architecture and explore options to address debt sustainability. However, we still call for more tangible and action oriented proposals. We would like to reiterate our call for the establishment of a multilateral sovereign debt workout mechanism aligned with sustainable development. Such a mechanism would provide a definitive solution to debt crises, moving away from the ad hoc approaches which have failed to address the growing complexity of the debt landscape. We urge for the creation of a global debt authority to oversee such a mechanism. and promote substantive reforms in sovereign debt management and mutual fairness and transparency in debt restructuring processes. Africa's debt challenges demand bold and transformative solutions which are aligned with the principles of equity, sustainability and shared responsibility. To conclude, co-facilitators, We look forward to having the African group's proposals incorporated into the updated draft outcome document. I thank you.

I thank the distinguished representative of Burundi and now give the floor to the distinguished representative of Bangladesh on behalf of the least developed countries, to be followed by the distinguished representative of Zimbabwe.

Thank you, Madam Chair, for giving me the floor. I am honored to deliver the preliminary remarks on behalf of the Group of Least Developed Countries on the zero draft of the outcome document. We deeply appreciate the co-facilitators for presenting an excellent zero draft that seeks to address many of the issues and challenges faced by the least developed countries. This document provides a solid foundation for the LDCs to constructively and extensively engage with the process. We deeply appreciate the zero draft for recognizing the importance of addressing the diverse needs and challenges faced by the countries in special situation, including the least developed countries. We commend its support for the full implementation of the Doha Programme of Action. We are encouraged that some of the key deliverables of DPOA are also prioritized in the draft. Distinguished co-facilitators, we are particularly encouraged by the draft's emphasis on the scaling up of ODA with commitments to reach existing targets of 0.7% of GNI to developing countries and at least 0.2% to LDCs. We are happy to see the inclusion of the call for increasing the share of ODA programmed at the country level and focused on long-term sustainable development. We would like to appreciate the focus on boosting trade in LDCs in the zero draft, primarily in the areas of trade capacity building for LDCs through scaled up aid for trade support and establishing a dedicated LDC financing facility to provide additional concessional financing to meet the SDGs. We also support the inclusion of the timely establishment of the International Investment Support Center for the LDCs. We also appreciate the commitment of support for developing countries to develop reliable, resilient, sustainable and quality infrastructure without which so many LDCs have been facing multiple challenges to overcome the structural vulnerabilities. Distinguished co-facilitators, The draft's recognition of the need for comprehensive debt relief, including debt cancellation for the LDCs with unsustainable debt burdens, is crucial. We support the inclusion of a proposed facility within an international financial institution. We also appreciate the emphasis on strengthening the global financial safety net and enhancing LDCs access to concessional financing. Similarly, we support the commitment made in the zero draft to bridge the digital divide, including through technology transfer, capacity building, supporting national innovation, and strengthening the UN Technology Bank for the LDCs. Distinguished co-facilitators, we would like to request the co-facilitators to provide space in the revised draft on support to graduating and graduated countries as 15 LDCs are in the process of graduation and some have recently graduated. They require global support at a scale comparable to their pre-graduation needs. We also are meticulously reviewing the document both at our missions and in our capitals. We will present our detailed specific proposals, comments and feedback in the third PrepCom. We reaffirm that the LDC group is committed to constructively engaging in the process, We have full confidence in you to guide us towards a successful outcome that addresses the unique challenges and the needs of the developing countries, including the LDCs. We must seize this opportunity to create a more equitable and sustainable global economic order that leaves no one behind. I thank you, Madam Chair.

I thank the distinguished representative of Bangladesh on behalf of the LDCs, and before giving the floor to the distinguished representative of Zimbabwe. where we have a little bit of housekeeping. There are less than two hours left of the meeting. There are about 30 countries wishing to take the floor, which is great, but this means that we will implement a microphone cut off at four minutes, which is generous since you've been invited to speak for three minutes. I invite you all to keep to the time limits. It gives me pleasure to invite the distinguished representative of Zimbabwe to take the floor, to be followed by the distinguished representative of the United Kingdom. Zimbabwe, you have the floor.

Thank you, Madam Chair. Co-facilitators, let me begin by thanking you for your tireless efforts in preparing a detailed zero draft of the outcome document. for the fourth International Conference on Financing for Development. Your leadership in guiding the FFD4 process as we build towards is highly commendable. Zimbabwe aligns itself with the statements delivered on behalf of the G77 and China and on behalf of the African group. Additionally, I'll provide some initial perspectives in a national capacity. My delegation welcomes the commitment to reforming the international financial architecture for it to be more inclusive and reflective of today's realities. Developing countries often face marginalization in global decision-making. We therefore hope that this commitment will lead to more equitable participation. The document's recognition of the specific challenges faced by the African countries LDCs, LLDCs, and SEEDS, as well as its commitment to support the African Union Agenda 2063 demonstrates an understanding of the unique hurdles these regions face. Zimbabwe appreciates the emphasis on scaling up official development assistance. However, it is important to establish timeframes to ensure timely fulfillment of these commitments. Furthermore, the outcome document must outline clear actionable steps that stakeholders must undertake to ensure accountability and deliver maximum impact on the lives of the general populace. My delegation also appreciates the document's acknowledgement of international trade's immense potential as a powerful engine and catalyst for development. Yet we are deeply concerned about the threats posed to developing nations by escalating tariffs trade barriers and technology divide, and a skewed multilateral trading system. Empowering developing countries to bolster their trading capabilities and related infrastructure is therefore crucial for their meaningful participation in global value chains. Prospects for success in this endeavor is contingent upon improved access to trade finance. In the case of Zimbabwe and other similarly affected countries, This access is significantly hindered by the imposition of unilateral coercive measures. We therefore welcome the draft's acknowledgement of these measures and their detrimental effects on sustainable development. While the document mentions debt challenges and the need for fiscal space, it could benefit from more concrete mechanisms or timelines for implementing debt relief and restructuring processes. Many developing countries face urgent crises that require immediate and well-defined solutions. With regards to proposed roadmap, Zimbabwe appreciates the inclusive approach by the co-facilitators, particularly through convening a town hall meeting to consider views from multiple stakeholders. We, however, note the limited timeframe and wish to call for an earlier delivery of the next draft. In conclusion, we want to emphasize that for the commitments that are detailed in the zero draft to be transformative, they need to be accompanied by detailed implementation plans, clear timelines and mechanisms for accountability. We should strive for an ambitious action-oriented outcome document That reflects the priorities of developing countries and puts us back on track to achieving the SDGs. My delegation reaffirms its unwavering commitment to actively engage in the implementation of the SDGs.

I thank the distinguished representative of Zimbabwe and now give the floor to the distinguished representative of the United Kingdom to be followed by the distinguished representative of Canada. But United Kingdom, you have the floor.

Excellencies, I'd like to begin by thanking the co-facilitators for preparing a good zero draft outcome document and for bringing us together for this briefing today. The document represents a strong basis on which to build to ensure FFD4 delivers an ambitious global development financing framework that will accelerate SDG progress. As the UK set out in our inputs to the elements paper, FFD4 is a key moment to send a strong political signal on our collective ambition to reform the global financial system, complementing and reinforcing existing efforts, including to increase the voice and representation of developing countries. We welcome the calls in the zero draft to scale up innovative financial instruments, to unlock more finance, and to take action on state contingent debt clauses and debt transparency. Further, given the scale of shocks facing the poorest and most vulnerable, it's positive to see the language on scaling up investment on disaster risk financing. We believe we can collectively go further here, including on insurance and prearranged financing. The text recognizes the independent mandates of the IFIs and their governance bodies. We reaffirm that we should focus our efforts on improving the current architecture and not duplicating mandates of existing fora. Finance at scale is needed, but we must also focus on impact. We're pleased to see the text focus on reducing fragmentation. action to tackle interlinked global challenges such as climate, nature, growth and gender, including women's economic empowerment. To ensure finance gets to where it's needed most, including for countries in special situations and conflict and post-conflict situations, we would like to see the text refer to peace-positive investment. We welcome the co-facilitators emphasis on the importance of a robust and effective follow-up process and we look forward to engaging on this. We also welcome the call to focus negotiations on the substance of new finance proposals rather than language edits at this stage and we support the co-facilitators providing new revisions at each PrepCom for transparency. We look forward to engaging constructively to ensure we deliver an ambitious and transformative outcome in Seville in June. Thank you.

I thank the distinguished representative of the United Kingdom and now give the floor to the distinguished representative of Canada to be followed by the distinguished representative of Indonesia. Canada.

Thank you, Madam Chair.

And as others have done before me, I would like to thank and to congratulate the co-facilitators for the FFD 4.0 draft. The document is well balanced and reflects the volume and the diversity of responses to the elements paper. We were especially pleased to see that gender equality was integrated meaningfully throughout the document and that issues such as anti-corruption and data and monitoring were included as cross-cutting themes. We value the emphasis placed on multilateralism as underpinning international cooperation. Fostering an environment of trust and partnership is critical to identifying the innovative and transformative solutions needed to achieve the SDGs. We also recognize that the zero draft underscores the valuable role of integrated national financing frameworks as a tool for locally led implementation, tracking results, and realizing the commitments laid out in the Addis Ababa Action Agenda. We note that the current draft contains proposals for various UN platforms to further pursue FFD-related and development cooperation issues. We will consider how this could provide an effective and coherent approach. In terms of offering preliminary feedback to the co-facilitators.

We note that the document is quite lengthy.

In our view, less is more. We continue to believe that a focus on concrete achievable actions is important for FFD4 to result.

In lasting and meaningful impact.

Having said that, we do believe that the draft strikes a good balance between identifying actions to address immediate needs.

And paving the way for longer term policy changes.

As we have previously stated, We believe that FFD4 must recognize the importance of a holistic approach that combines a focus on generating more finance with an emphasis on the enabling environment created by good governance, strong institutions, and robust fiscal systems. We look forward to addressing the substantive elements of the zero draft in greater detail at the upcoming third preparatory session. Our current concerns are largely focused on the modalities of the preparatory process and the intersessionals, as well as the duration and number of proposed sessions. We are also mindful of the constraints facing Member States and the desire to ensure meaningful participation. We look forward to working with all of you over the coming months to make FFD4 a success.

And I thank you.

I thank the distinguished representative of Canada and I now give the floor to the distinguished representative of Indonesia to be followed by the distinguished representative of Pakistan. Indonesia, you have the floor.

Thank you, Madam Chair. Truly appreciate your generosity and I trust the same spirit will guide all of us to a more generous financing for development. Indonesia aligns ourselves with the G77 in China and join others in thanking the co-facilitators for providing us with the zero draft, a very good basis to move forward. And allow me to add the following points in our national capacity. Madam Chair, Indonesia believes there are three clear parameters to ensure whether the FFD4 will be a success or not. First, it must lead to closing the financing gap. Second, it must lead to turbocharging the SDG. And third, both two parameters require advancing the IFA reform. Thus, every single element in the draft outcome must be geared towards attaining those three parameters. And towards that direction, we have three preliminary comments. First, the outcome document must create enabling environment to close the widening development gap. Closing the gap will benefit not only developing countries, It will enable global resilience, stability and progress. We observe that some proposals in the zero draft related to the provision of financing introduce some preconditions. We shall avoid from creating additional burdens for developing countries, but rather incorporate concrete solutions to ensure financing is accessible to all. Second, development and sustainable growth should be the DNA of our recommendation. The FFD4 must lead to enabling environment that instills sustainable growth. Developing countries must be able to tap into new sources of growth by adding value to their natural resources and better accessing the global value chains. Actions to stimulate productive investment, private sector engagement in sustainable development, affordable financing and development oriented global taxation regime need to appear prominently in the outcome document. And finally, our efforts will not succeed if we work in silo. This New York process must connect meaningfully with other relevant processes related to financing for development. Connecting the dots is also key to IFA reform. The FFD four must effectively bring together the UN, the IFIs, the WTO and other stakeholders to synergize policies with SDGs at the core. We welcome the last part of the draft that contains useful roadmap in this direction. We look forward to further sharpening the roadmap, making it more action oriented along with effective follow up mechanism. To conclude, let us ensure an ambitious and action oriented outcome of the FFD. This is our last chance if we want to deliver on the promises of the 2030 agenda in the next five years. Thank you.

I thank the distinguished representative of Indonesia, and I now give the floor to the distinguished representative of Pakistan, to be followed by the distinguished representative of Egypt. Pakistan, you have the floor.

Thank you, Madam Chair. We express our appreciation to the co-facilitators for preparing the zero draft. We align with the statement made by the Group of 77 and China. We express an wish to express some preliminary views. The fourth FTT conference is an important one to agree on the solutions for bridging the 4.3 trillion SDG financing gap. The zero draft, which is good, but it does not entirely match the scale of this ambition. On domestic public resources, we appreciate and want to strengthen the proposal for establishing an ECOSOC special meeting on financial integrity. We do not support references to standards developed through non-inclusive processes such as the FATF. On international development cooperation, we must strengthen the decision-making role of the United Nations in development cooperation, not just limited to a convening role. On trade, while we appreciate the concrete proposals on unilateral coercive measures, trade-related environmental measures, reforming investor-state dispute settlement, a greater emphasis is needed on expanding special and differential treatment for all developing countries. On debt, the chapter falls significantly short and can be improved in Rev. 1. We wish to see reference to the sovereign debt workout mechanism to provide collective debt relief, to establish an institutional mechanism for debt swaps for SDGs. On systemic issues, member states do not, in our view, have the authority to take decisions here at the UN and thus we cannot support formulations utilized by the co-facilitators in this section. which effectively delegate all authority to the international financial institutions. On the follow-up section, we regret that our concerns regarding the request to the IATF to propose indicators for a financing framework have not been taken into account. If the intention of the co-facilitators is to have a monitoring framework similar to that of the SDGs, then we must follow a similar.

Process.

Lastly, we caution against overlap with ongoing processes such as COP30 and the AI panel on dialogue modalities. We also caution against the delay in the start of actual negotiations as we run a real risk of the document being kept open till Seville. You can count on our cooperation co-facilitators, and we look forward to an early opening of negotiations on this document. Thank you.

I thank the distinguished representative of Pakistan, and I now give the floor to the distinguished representative of Egypt, to be followed by the distinguished representative of India. Egypt, you have the floor.

Thank you very much, Ambassador Merete, the great quartet, uh, Luke, Merete, Chola and Alicia, we're very proud of you, totally supportive and, and happy with the, the, the, the, the draft that you have produced, but of course, we're not there yet, still have very long way to, to go. fully aligning myself with the statements of the G77 and the African group, but in my national capacity, a few highlights. First, the proposals made in the domestic public resources section need to be very carefully balanced with the international cooperation section of the document. On fiscal systems and alignment with sustainable development section, we have concerns regarding the number of detailed proposals focusing on national policies and regulations in developing countries. We need to avoid overly prescriptive proposals in this regard. We appreciate the improvements made to the international tax cooperation section in the zero draft. However, we reiterate our request to avoid the inclusion of too many details in this regard to avoid duplicating the efforts and preempting the relevant discussion that will ensue. In the ODA section, we were more content with the formulations in the elements paper, especially on ODA targets and the proposal of having concrete and binding timeframes for achieving existing ODA targets. We underline the need for a multilateral process for agreeing on a common understanding of parameters and objectives of ODA flows. We also express our concern regarding the link introduced in the zero draft between ODA and humanitarian emergencies. We have too many double counting, as you know. In the multilateral trading system section, we acknowledge the references to having a fully and well-functioning dispute settlement system and the implications of unilateral trade-related environmental measures and look forward to having these maintained in the revised text. In the debt section, this is the most important, we look forward to more ambitious action oriented proposals, including on the reform of international debt architecture, especially on creating a multilateral sovereign debt workout mechanism. aligned with sustainable development and the establishment of a global debt authority. We look forward to having a strengthened debt section in the revised text. As I said, full support, and we're fully committed to contributing to a very successful outcome. Happy with the line by line, because that guarantees ownership and balances and so on, and let's do it all together. Thank you very much, colleagues. Thank you, Merete.

I thank the distinguished representative of Egypt and now give the floor to the distinguished representative of India to be followed by the distinguished representative of the Philippines. India, you have the floor.

I would like to begin by commending the co-facilitators of the outcome document of FFD4, Nepal, Zambia, Mexico, and Norway for their sincere efforts in preparing an ambitious zero draft and a detailed roadmap for negotiations. We believe it provides a good basis to start discussions, while our substantive comments will be shared at the third PrepCom, allow me to make a few initial observations. First, we agree that despite some progress made in the implementation of the Addis Ababa Action Agenda, more needs to be done about the financing challenges leading to the sustainable development crisis. Second, we appreciate the focus on a robust global financing framework. that prioritizes the needs of developing countries, fosters innovation and cooperation, and respects country-specific approaches and development pathways. Third, we are very encouraged that the zero draft recognizes the critical importance of strengthening the financing capacity of MDBs through implementing the capital adequacy framework measures, leveraging financial innovations to attract private capital, and securing fresh capital contributions from donor countries. We support enhanced debt transparency through early collaboration between debtors and creditors, a quick reconciliation of outstanding debt, and stronger incentives for creditor participation. Fourth, South-South and triangular cooperation coupled with regional and multilateral cooperation are critical for bridging the North-South divide. We welcome the attention given to strengthening global partnerships to foster the exchange of knowledge, resources, and expertise. Fifth, despite efforts to mobilize private capital, actual flows to low-income and emerging markets for development financing is still a trickle due to the stickiness and procyclicality of sovereign ratings by credit rating agencies, which inflate perceived risks and hinder access to affordable market finance, deterring private investment. The zero draft alludes to this key barrier. Sixth, we support the emphasis on SDI and on increasing investment in digital public infrastructure and digital public goods. Democratizing technology and promoting digital inclusion by advancing digital literacy, vocational skills, and access to digital tools, particularly empowering women, youth, and the marginalized, is a vital step towards bridging the digital divide. While the zero draft of the outcome document has several crucial proposals and commitments on the way forward, We would have liked it to be more action-oriented to make it more impactful. Measures being put unilaterally in the name of combating climate change and environmental protection, including the Carbon Border Adjustment Mechanism, the CBAM, place onerous requirements upon exports of developing countries, such as the calculation of embedded emissions. While the current language refers to these concerns, it does not discuss addressing this issue to deliver on a fair multilateral trading system for all. We must maintain the crucial distinction between climate finance and development finance to ensure that resources for sustainable development are not watered down, a point well made by Palau on behalf of AOSIS. As it is, we are deeply disappointed with the outcome of the new collective quantified goal on climate finance at COP29 in Baku. We expect the outcome document to reflect a transformative approach to addressing global development challenges India will engage constructively on this document and is committed to ensure that it translates into tangible outcomes that meet the diverse needs of our people and the planet. I thank you.

I thank the distinguished representative of India and give the floor to the distinguished representative of the Philippines, to be followed by the distinguished representative of Angola. Philippines, you have the floor.

Thank you, Madam Chair.

The Philippines aligns with the statement of the G77 in China delivered by Iraq and provides the following additional.

Comments in our national capacity. First, we wish to thank the permanent representatives of Mexico, Nepal, Norway, and Zambia and their respective teams for their work on the zero draft and this very useful introduction. Second, we thank you for the clarity on the suggested roadmap for this important process. We particularly appreciate the intent to conduct real negotiations in an inclusive manner while ensuring that it remains member state led. As initial reaction to the zero draft, we deem it to be a good basis moving forward. In particular, we appreciate that the draft highlights the need for enabling global environment and international reform, which brings more balance to the text. mentions MSMEs and the specific challenges of middle-income countries and a system-wide response plan to address the challenges and cites CBRD, disaster resilience investments, the loss and damage fund, and additionality of climate finance.

There are some proposals that would require further.

Discussion and common understanding, including those related to adoption and interoperability of sustainable development legislation and taxonomies.

New governance frameworks and standards from organizations that are not universal.

In this regard, information briefings for delegations on the more technical proposals might be useful. In general, we would caution against recommendations that are too prescriptive and might add additional obstacles for developing countries' access to financing for development. We would also suggest some strengthening of elements in the text that pertain to remittances with identification of more concrete actions and recognition of the positive contribution of migrants to sustainable development. The relationship between the UN and the Bretton Woods institutions for it to have a clearer vision beyond just more dialogues and taskings. and capacity building programs and targets, including for people in vulnerable situations. As a principle, we would also like to emphasize that mobilization of domestic resources and the private sector do not replace ODA. In conclusion, Madam Chair, we once again thank you, distinguished co-facilitators, and assure you of the Philippines commitment to working closely and constructively with all for a successful FFD4 process and outcome.

Thank you.

I thank the distinguished representative of the Philippines, and I now give the floor to the distinguished representative of Angola, to be followed by the distinguished representative of Guatemala. But Angola, you have the floor.

Thank you.

My delegation extends its gratitude to the co-facilitators, Mexico, Nepal, Norway, and Zambia, for their efforts undertaken in crafting the zero draft of the outcome document for FFD4. Angola aligns itself with the statement delivered on behalf of G77 and African group. We have to add some remarks now on national capacity. First, we appreciate the proposal on international tax trade and systemic issues. This section includes promising ideas, particularly those aimed at reforming the global financial architecture. and addressing trade-related disputes. However, the effectiveness of this proposal will depend on actionable commitments. Second, the section on debts and international development cooperation falls short of expectations. On that, the proposal does not adequately address the urgent need for development-oriented debt architecture, nor do they ensure meaningful relief for heavily indebted countries. Third, domestic resource mobilization. Angola emphasizes the need to avoid overly prescriptive approach in fiscal systems. Fourth, illicit financial flow. We welcome the proposed ECOSOC special meeting on financial integrity, but stress that discussion must lead to concrete outcome.

Fifth.

Trade provisions, we appreciate the reference to unilateral environment measures, the WTO dispute settlement mechanisms and reforms in investor state dispute mechanism in trade agreements. Sixth, systemic issues, we welcome the proposal to hold a high level meeting on credit rating agencies, but stress that it must lead to actionable outcome and not remain a symbolic gesture. Seventh, indicator for financing framework, we express reservation regarding the request for the interagency task force to propose indicators for financing framework. The process must ensure that all commitments from Addis Ababa action agenda and these documents are adequately monitored without arbitrary selection by the IAEA. Angola stands ready to conclude, to work constructively to ensure the outcome documents address the needs and priority of developing worlds, particularly the most vulnerable countries. Thank you.

I thank the distinguished representative of Angola, and I now give the floor to the distinguished representative of Guatemala, to be followed by the distinguished representative of Jamaica. Guatemala, you have the floor.

Thank you very much. My delegation aligns with the statement delivered by Iraq on behalf of the G77 and China. We'd like to thank the co-facilitators for their work in preparing the zero draft of the outcome document for the fourth International Conference on Financing for Development. You can count on Guatemala's support to actively and constructively contribute to negotiations, allowing us to reach a concise, consensual, ambitious, action-oriented document. We'd also like to welcome the presentation of the roadmap for negotiations, which will allow us to involve national institutions as appropriate, covering the entirety of this agenda. As an initial reflection, generally speaking, we believe that we need to better take into account the specific needs of middle and low income countries. As we make progress with the documents negotiations, we highlight the importance of having solutions to reduce poverty, protect the environment, technological progress, social inclusion, and peace building. In terms of areas of action and content, we'd like to highlight five areas of particular importance for Guatemala. In terms of international cooperation for development, including official development assistance, we support an urgent call to revitalize the allocation of resources, heightening financing for programs which have a direct impact on the beneficiary population. In terms of systemic aspects, we advocate for greater representation of developing countries in international fora, as well as fairer access to global financing. Further, it's necessary to continue to deepen the relationship between the United Nations and international financial institutions, complementing efforts to comprehensively respond to financing needs. Turning to public domestic public resources, we believe that documents should highlight support for countries in implementing robust regimes to address the lack of funds as well as corruption, bribery and transnational phenomena related to this which have an impact on the generation and transfer of illicit financial flows. For Guatemala, addressing these challenges is a sine qua non if we are to have dignified, inclusive and equitable development. On international trade, we would like to promote diversified exports, improving access to markets for agricultural products, and making it possible to develop local value chains, further contributing to inclusive economic growth. Finally, we must reach comprehensive language on technology transfer and digitalisation, which are key matters for catalysing rural development and boosting productivity, closing digital gaps and lack of access to the internet. Thank you.

I thank the distinguished representative of Guatemala and now give the floor to the distinguished representative of Jamaica to be followed by the distinguished representative of Ghana. Jamaica, you have the floor.

Thank you, Madam Chair. Jamaica aligns with the statement delivered by Iraq on behalf of the G77 and China and Palau on behalf of the Alliance of Small Island Developing States. And we express our appreciation to the co-facilitators for the zero draft of the outcome document, and we take careful note of the proposed roadmap for the negotiation of the document. As we are well aware, progress towards the sustainable development goals is severely off track, and financing challenges remain at the core of the sustainable development crisis. My delegation has in the past emphasized that the fourth international conference on financing for development presents an opportunity for the international community to collectively deliver a reformed global financing framework, which can accelerate the implementation of the 2030 agenda. This renewed global financing framework should seek to address the adverse global macroeconomic conditions, the rising inequalities, escalating debt burdens, and the diminishing fiscal space to shape sustainable development and deliver tangible solutions especially for those countries in special situations. To this end, our focus has been on the reform of the international financial architecture to improve access to affordable financing for development, including climate financing, tackling debt distress that continues to hinder progress in developing countries, providing debt sustainability mechanisms without compromising our economic stability and development goals, and enhancing international tax cooperation solutions to provide a framework for the equitable sharing of global economic growth. With this at the forefront, we are of the view that the zero draft outcome document presents a sound basis to initiate the negotiations on financing for development to elevate our ambitions towards a meaningful outcome. While our capitals will conduct a thorough examination of the document, Our preliminary feedback is that some of the proposals require strengthening, particularly those targeting the systemic issues. They must be translatable into concrete commitments to reflect current realities. We emphasize the importance of buttressing proposals for action with the appropriate means of implementation and the requisite capacity building mechanisms and support. This is necessary to overcome the multidimensional challenges and inject new and innovative solutions in the financial sphere for sustainable development. Climate financing remains a top priority, and on this issue, we reiterate the position that the international community must fulfill its commitments to provide climate finance and support for adaptation and mitigation efforts, maintaining the separation between the treatment of climate finance and development finance. We note the roadmap for the negotiations and thank the co-facilitators for adopting an inclusive approach to ensure that all Member States are engaged in the process and will have the space to consult with capitals. We assured co-facilitators of our continued commitment to constructively collaborate with all partners to turn these commitments into meaningful, practicable and tangible actions and thus deliver a successful outcome to the fourth Financing for Development Conference in Spain. I thank you.

I thank the distinguished representative of Jamaica and I now give the floor to the distinguished representative of Ghana to be followed by the distinguished representative of Morocco. But Ghana, you have the floor.

Madam Chair, distinguished co-facilitators, Ghana aligns with the statement read by Iraq on behalf of the Group of 77 and China, and Burundi on behalf of the African Group, and we join in thanking you for the efforts you have made in preparing this zero draft that reflects thoughtful elements and incorporates several promising proposals, particularly in the areas of trade and systemic issues.

We welcome the zero.

Draft as a good starting point for advancing our collective interest in addressing the pressing challenges of development financing. For Ghana, we believe that further ambition is also required in a number of areas, and clarity needs to be brought in some aspects to ensure that the document achieves its intended objectives.

I will therefore speak to six preliminary key points.

First, on the question of debt, we do not believe that the elements elaborated in the draft goes far enough. In many developing countries, and in particular the economies of Africa, the debt crisis is threatening economic stability. has sucked the financial life out of the fiscal space and is impeding progress towards the achievement of the SDGs. The question of debt in the draft document must therefore reflect tangible transformative measures such as the establishment of a multilateral sovereign debt workout mechanism, the creation of a global debt authority to oversee it, and the introduction of innovative financial instruments to reduce vulnerabilities. Without these critical elements, that aspect of the draft will be unsatisfactory as the present reflection permits the perpetrating of systemic barriers for developing nations. Second, on cross-cutting issues, we are disappointed by the absence from the zero draft of the overarching goal of poverty eradication, the central tenet for the 2030 Agenda for Sustainable Development. It is important that the further iteration of the draft reflect an explicit reaffirmation of poverty eradication as the unifying objective of all development financing efforts in alignment with global commitments and in coherence with existing strategies. Third, on domestic resource mobilization, while the draft's emphasis is appreciated, its overly prescriptive approach is of concern. Inappropriate recommendations on DMR in an environment where extreme poverty prevails could have adverse impact And in this regard, recommendations such as aligning fiscal systems with specific prescriptions that may constrain sovereign imperatives for national fiscal policies is difficult to go along with. Additionally, and as had been indicated by the representative of Burundi on behalf of the African group, we want a refinement to paragraph 30G to ensure that the reference to the two-pillar solution as an example does not create a challenge And in this regard, we want to see proposals that remain broad in scope, avoiding the listing of specific examples. Fourth, with regard to the LSAs financial flows, the inclusion of the reference to the ECOSOC special meeting on financial integrity is appreciated, but Ghana believes that without concrete steps to operationalize the multilateral mediation mechanism, the process-driven focus of the draft will not lead us to the desired objective. I would leave the two outstanding issues that I raised in our statement and close by thanking you for the zero draft, but also saying that its immense potential must be addressed by confronting the finer details and complexities of development financing. I thank you, Madam Chair.

I thank the distinguished representative of Ghana and I now give the floor to the distinguished representative of Morocco to be followed by the distinguished representative of Fiji. Morocco, you have the floor.

Thank you. This time co-facilitators, excellencies, on behalf of the Kingdom of Morocco, I would like to thank the co-facilitators. the Permanent Representative of Nepal, Norway, Mexico, and Zambia for preparing and presenting the zero draft of the FFD4 outcome document. We highly appreciate your efforts in providing a comprehensive zero draft which consists a good basis to start the negotiation process. While we are still analyzing the text before us, And while we align ourselves with the initial comments provided by the African group and with the G77 and China, I would like to share some preliminary comments in my national capacity. First, on the structure of the text, we appreciate the effort of the COFAX in capturing the discussions we had during the second prep com committee on the food for thought paper. Thank you for structuring the outcome based on the seven action areas of the Addis Ababa Action Plan. However, we believe that the text, including its preamble part, could benefit from streamlining to have clearer and concise mandates as well as action-oriented recommendations. Two, I would like to thank the co-facilitators. for the effort in highlighting that middle income countries continue to face specific challenges. These countries often described as the backbone of the global economy face heavy burden of rising of poverty rates and social inequality. At the same time, they are often excluded from concessional financing due to outdated metrics such as GDP, which failed to reflect their multidimensional vulnerability. This was among the main messages of the LMG mix in the input submitted for the process. We look forward to build on this highlight and advance further the mix related language in the text, namely, under the section of debt, international development cooperation, climate finance, and South-South and triangular cooperation. Next, third, on beyond GDP process in paragraph 38G, we support and appreciate the COFAX language on having the metrics that go beyond GDP, not only limited to a statistical exercise, but as a tool to inform development cooperation policies, including access to concessional financing. We look forward to build on the pact for the future mandate in this regard and advance further the process in light of the establishment of the experts group by the Secretary-General. Fourth, on debt and debt sustainability, we reiterate the call of the African Group regarding the importance to outline concrete and ambitious measures to reform the international debt architecture and address the systemic inequities that perpetuate Africa's debt challenges. The FFD4 must benefit from concrete action proposal in terms of resolving the debt vulnerabilities and developing countries. Fifth and finally, Morocco attached great importance to climate finance and look forward to further enhance this section.

I thank the distinguished representative of Morocco, sticking to the time limit of four minutes, I'm afraid. And I give the floor now to the distinguished representative of Fiji to be followed by the distinguished representative of Chile. But Fiji, you have the floor.

Thank you, dear co-facilitators. At the outset, Allow me to express my appreciation to you and your team for the work that went into producing this comprehensive zero draft. I especially acknowledge and appreciate that you have sacrificed your holidays to meet this timeline. Fiji's statement is aligned with those delivered by Iraq on behalf of the G77 and China, and Palau on behalf of AOSIS. Let me offer five reflections in my national capacity. Co-chairs, the starting point for FFD4 conference is that we have a global problem and that we need a global solution which requires international solidarity. Therefore, a new global consensus and strategy is urgently needed to return us to a pathway that achieves global solutions for people everywhere, not just in the richest nations or elites in the developing world. Having a glance through the draft under the International Development Cooperation, Fiji calls for language that encourages a rapid shift on aid on budget. If the international development assistance is not on budget, then developing countries should not be held accountable for weak performance on international development assistance. In our view, this will shift the needle towards development that is designed, led and implemented by developing countries, not development that is designed for them. This applies also to MDBs including our bilateral development partners. To be more precise, this draft should reflect as a target that by 2030, 50% of all development assistance should be on budget and delivered through budget support measures and should be locally led. Secondly, the relevant chapters of this outcome should show timeframes and pathways for commitment to realize the 0.7% target of ODA. This target should be achieved by 2030, with countries transparently demonstrating how they will get there. This is not a big ask, but rather a foundational starting point in restoring trust in the international system. Third, on climate change. No sector in our economy is not affected by climate change. Fiji, like other Pacific Islands, need the world to return to a pathway of 1.5 degrees Celsius, as agreed in the Paris Agreement. Accordingly, FFD4 outcome must commit to accelerating and scaling up climate finance, going well beyond the USD 300 billion agreed in Baku. Climate change is an existential threat in the Pacific, and time is something we do not have. Regarding the chapter on debt sustainability, debt management will remain an issue for small island developing states, not because we are bad debtors, but because of our inherent vulnerabilities and countries at the front lines of external climate and natural disaster shocks. We need resources to respond to ever-growing impacts of climate change while concurrently servicing our debts. Still on debt servicing, we call on FFD4 to commit to debt suspension agreements triggered by external shocks, particularly after catastrophic climate events and natural disasters. We cannot overemphasize the fact that we face unique vulnerabilities. A single cyclone or natural disaster can trigger severe economic contractions ranging anywhere from 30% to 70% of our GDP. We need flexibility to allow our economies to recover and rebuild, but not be penalized further. Fourthly, as reflected in the MVI, the FFD declaration must increase ambition of highly concessional financing that is rooted on.

I have to thank the distinguished representative of Fiji and give the floor to the distinguished representative of Chile, to be followed by the distinguished representative of South Africa.

Thank you very much, Madam Co-Chair. We align ourselves with the statement delivered by Iraq on behalf of the G77 and China and Morocco on behalf of the middle-income countries. We'd like to add the following remarks on the national capacity. Chile thanks the co-facilitators for the convening of this informal briefing to go over the main aspects of the zero draft, as well as the roadmap in the run-up to Seville. We therefore welcome the document and support its vision to renew the global financing framework for sustainable development. We believe that this process is not only essential for addressing today's financial challenges, but also a crucial reaffirmation of multilateralism as the foundation for achieving the Sustainable Development Goals. This process underscores the indispensable value of multilateralism in addressing systemic challenges, which no single country can tackle alone. The commitments outlined in the zero draft, whether on reforming the international financial architecture, scaling up climate finance, or enhancing tax cooperation, all reflect the power of collective action. By strengthening trust and solidarity among nations, we can ensure that global governance becomes more inclusive, equitable, and responsive to the needs of developing countries. For Chile, the Financing for Development agenda is more than a technical exercise. It is a reaffirmation of the principles of cooperation, shared responsibility and mutual respect which underpin the United Nations. We are proud to contribute constructively to a process which upholds these values while addressing the inequalities that hinder sustainable development. As a middle income country, Chile values the inclusion of commitments to, uh, address the unique challenges faced by these countries, this group of countries accounts for the majority of the world's, uh, nations. which often struggle to access adequate financing due to outdated categorisations and limited policy tools. The recognition of middle-income countries' specific needs in the zero draft, including the call for a comprehensive inter-agency response plan, is a step in the right direction. We urge for the swift implementation of these measures with genuine commitment to ensure that middle-income countries can bridge their development gaps. build resilience and accelerate progress towards the SDGs. It is vital that financing strategies, including access to concessional finance and capacity building initiatives, account for the diverse realities of middle income countries while promoting their role as both contributors to and beneficiaries of global sustainable development. Excellencies, we call on all Member States and relevant stakeholders to demonstrate the requisite political will to turn these commitments into tangible progress. The SDGs are universal, indivisible and interlinked, and this process presents us with an opportunity to reaffirm that their achievement is a collective responsibility. You can count on Chile to work constructively to ensure that the outcome document for the conference becomes a transformative blueprint for accelerating the implementation of the 2030 Agenda for Sustainable Development. Thank you.

I thank the distinguished representative of Chile and give the floor to the distinguished representative of South Africa, to be followed by the distinguished representative of Singapore. South Africa, you have the floor.

Thank you. We wish to express our sincere appreciation to the co-facilitators for the huge effort you have put into producing the zero draft of the outcome document of the fourth International Conference on Financing for Development. We also wish to thank the co-chairs for the diligent way they have been managing the process. While we're still examining the text, we broadly associate ourselves with the statements delivered on behalf of G77 plus China and on behalf of Africa Group. and wish to raise the following issues in our national capacity. Co-facilitators, we wish to especially commend the inclusion of a number of proposals focused on all that will benefit Africa, including the African Development Bank's hybrid capital facility, support for Agenda 2063, assistance to implement the two-pillar solution to receive a fairer share of tax due to us, as well as the entire section on critical minerals, although we would like see more in the zero draft on financing for peace. The various stakeholders in South Africa are in the process of reviewing the zero draft and will reserve detailed comment for the third precom in February. Nevertheless, I'd like today to lay out the general approach that South Africa believes that we need to ensure a meaningful outcome that will make a real world impact. Leveraging finance is a political but also deeply technical issue. There's no silver bullet. We need to look past polemics and harness the shared purpose expressed at the two first prep comms to build consensus on a broad range of evidence-based and politically sound solutions and deliverables across many areas and that advances the achievement of SDGs. It is the sum of these increments and improvements that taken together will make a tangible difference to the lives of the poor. Our lodestar needs to be pragmatic multilateralism based on a smart and sober approach. In this regard, our delegation thinks that the zero draft is a very good start. As we enter into the negotiations, it is important that we honestly weigh the actual impact of every action we propose and constantly ask ourselves whether our agreement, including our follow-up process, will truly deliver the transformative change that we have promised in the introduction to meet the unfulfilled aspirations of our people. You can count on South Africa to play a constructive role and to contribute to this critical process to agree an ambitious and action-oriented FFD4 outcome document. I thank you.

I thank the distinguished representative of South Africa. And before handing over both to my colleague, Ambassador Chola, and giving the floor to the distinguished representative of Singapore, a bit of housekeeping. In order to hear all the remaining speakers, we will now cut off the microphone at the original three minutes. So it's not too bad, actually. But Singapore, you have the floor. To be followed, sorry, by Australia, but Singapore.

Thank you, Excellency. Singapore aligns itself with the statements delivered on behalf of the G77 in China and EOSIS. We thank the co-facilitators for your hard work to rationalize the numerous input and comments received from member states and stakeholders thus far to produce the zero draft, which we feel provides a pragmatic and realistic capture of the gains and remaining challenges in the international financial financing architecture in the past decade and builds on commitments in various FFD related processes, including the pact for the future. I would like to make four brief points based on a preliminary reading of the text. First, the international financial architecture must be reformed to accurately reflect the contemporary realities of the global economy, particularly the role, heft, and aspirations of developing countries. We welcome the draft's acknowledgement of ongoing measures to address these imbalances in voice and representation of developing countries, but would also like to see additional specific measures to correct these asymmetries in global economic governance. Second, we feel that the text should acknowledge the value and role of regional arrangements in the global financial safety net and explore how such regional arrangements in trade integration, financial connectivity, green and digital economy agreements can be used as successful litmus tests and be emulated beyond the regional level and reflected in this text. Third, we welcome the text call for paradigm shift in reliance on credit rating assessments, acknowledging how they can be disadvantages to developing countries. We would like to see more concrete discussion on what more can be done to incentivize credit rating agencies to extend credit based on long-term growth and sustainability prospects beyond just enhancing dialogue with them. We could consider what other alternatives could we use in regulatory frameworks, sustainability or development taxonomies perhaps, and how can we increase adoption of these alternative risk pricing methods. Lastly, we think that one of the largest accelerants of FFD in the past decade was digital technology. And while we recognize the ambition in the text, we think that the section on financial technologies could benefit from more specific language on how FinTech, blockchain, and CBDCs can be leveraged for financial inclusion and health, including by reducing barriers between countries, and of course, with adequate capacity building and support for developing countries to achieve these goals. Co-facilitators, it is our view that we must have a substantive and meaningful outcome in FFD4. The FFD conference is fundamentally about rebuilding trust and strengthening solidarity in the multilateral system, and it is therefore important to approach our negotiations with a pragmatic and flexible approach. And we look forward to working closely with you to present more views at the third PrepCom following further study of the text. Thank you.

Thank you very much. I thank the distinguished representative of Singapore. Just taking note of the time, we would want to now announce that we're closing the speakers list, so no further inscriptions can be made at this moment. That said, I now give the floor to the distinguished representative of Australia, who will be followed by the representative from China, then Cuba. Australia, you have the floor.

Thank you, Ambassador, and good morning, Excellencies, colleagues. Let me start by thanking you, the co-facilitators, for your hard work in getting us to this point in the FFD4 process and for convening this briefing to hear reflections on the zero draft. We are encouraged by strong alignment from a diverse range of stakeholders on the key elements of the zero draft. Its ambition and action-oriented focus provides an excellent starting point for achieving a consensus outcome at Seville. That said, there's still a lot of work to do. We need an outcome that addresses the challenges of today and beyond to fully implement the 2030 agenda and its SDGs. We welcome the zero draft's focus on elevating country-led development and revitalizing the development effectiveness agenda. This includes increasing voice and representation for developing countries and backing inclusive country-led national platforms to strengthen the coordination of development partners in support of country plans and strategies. We welcome the focus on aligning financing with cross-cutting issues including gender equality, climate and the environment, disaster risk reduction strategies, social protection, collection and use of disaggregated data and addressing the digital divide. However, We must note the absence of text on financing for people with disabilities and indigenous people and communities. We must uplift all, including marginalised groups. We must also strengthen use of innovative financing tools such as guarantees and blended finance to catalyse domestic public resources and private investment at scale. As we continue to explore new commitments in the text, we must not lose sight of the need to address the unique challenges of the smallest and most vulnerable, particularly countries in special situations. Critically, we must ensure the Seville outcome leaves no one behind. Australia is determined to play a constructive role in building a consensus outcome. We stand ready to work with you all. Thank you.

I thank the distinguished representative from Australia. I now give the floor to the distinguished representative from China, followed by a representative from Cuba. China, you have the floor.

Co-facilitators.

China aligns itself with a statement by Iraq on behalf of G77 and China and appreciates the co-facilitators work. The zero draft provides a useful basis for the upcoming negotiations on which China has the following eight preliminary comments. First, in terms of form, the language should be further streamlined with a more simplified structure and clearer focus on the substance.

Consensus in guiding documents such as the 2030 Agenda, the Addis Ababa Action Agenda, and the Pact for the Future should be fully reflected and built upon. rather than scaled back.

Second, the importance of poverty and hunger eradication, economic growth and other traditional development issues should be made more prominent while highlighting the funding gap and difficulties in financing for developing countries and balancing the economic, social and environmental dimensions.

Third, the role of North-South cooperation as the main channel for international development cooperation should be emph- emphasized.

Explicitly urging developed countries to earnestly fulfill their ODA and climate finance commitments and distinguishing… climate finance from development assistance as new and additional fund.

Fourth, the text should reiterate upholding the multilateral trading system with a WTO at its core, promoting trade and investment, liberalization and facilitation, and unequivocally rejecting unilateralism, protectionism, decoupling and severance of supply chain. Fifth, the text should

feature the principle of joint action and fair burden sharing in debt treatment and co-IFIs and commercial creditors to joint debt relief and moratorium for developing countries.

Sixth, the text should go.

Further on IFA reform, urge for greater voice and representation for developing countries and call for more.

Coordinated macroeconomic policy to reduce the negative spill overs of policy adjustments in major developed economies. Seventh, the text should set store by increasing SDI investment, promoting technology transfer and mutually beneficial sharing of S&T achievements and supporting developing countries for accelerated.

Digitalization and intelligent development.

Eight, the implementation follow up process and mechanism must be, reflect the ownership of and consensus among member states.

China will provide detailed feedback after carefully studying the zero draft.

We'll actively and constructively engage in negotiations and work with all parties towards FFD four outcomes that meet the expectations of developing countries.

I thank you.

I thank the representative of China and now give the floor to the distinguished representative of Cuba. will be followed by the representative from Ethiopia.

Thank you very much. Distinguished co-facilitators, Cuba aligns itself with the statement delivered by Iraq on behalf of the G77 and China and Palau on behalf of AOSIS. We would like to thank you for the intensive work you have done in drafting this zero draft of the fourth International Conference on Financing for Development and for providing us with a roadmap for our negotiations. For the Cuban delegation, this process is of the utmost importance. Developing countries has been calling for decades for a just, fair, and equitable international economic order that prioritizes development over profit. We cannot prolong any more a profound reform of the international financial architecture. In the same way, member states stood for the creation of the UN, among other reasons, for the promotion of the economic and social advancements of all peoples, Today, the UN has to stand for this reform as a moral imperative. The draft must be clear that the global financial architecture must work in the interest of developing countries, ensuring that our economies can grow sustainably without being burdened by unmanageable debt or unsustainable austerity measures. In our opinion, if the outcome document fails to achieve this purpose, so it will fail the conference as a whole. This also includes a reform of the international debt architecture and the creation of a multilateral sovereign debt mechanism to provide and define solution for debt crisis. A concrete timeline should be established to implement this proposal. These areas of the document need to be strengthened with concrete actions and commitments. Long-standing principle development agenda must be upheld such as the principle of common but differentiated responsibilities, the right to development, as well as the commitment already made in the previous conferences of FFD. It is essential that developed countries honor their long-standing commitments, particularly with respect to ODA. Clear timelines should be also established to this aim. We reiterate that unilateral economic, financial or trade measures are a major obstacle to development. The outcome document must address these barriers, otherwise it will fail to support the developing countries that are directly affected by them. We welcome the steps already taken in this regard in the zero draft. In conclusion, We must ensure that the final outcome of this conference leads to concrete and binding commitments that adequately address the needs of developing countries. We look forward to working with all delegations to strengthen this draft and to ensure that financing for development becomes a reality.

I thank the representative of Cuba. I now give the floor to the distinguished representative of Ethiopia.

Mr. Kofas, Ethiopia appreciates the diligent effort of the four Kofas to prepare a good zero draft. Ethiopia aligns self with the statements delivered by Iraq, Burundi, and Bangladesh on behalf of G77 China, African group, and LDCs respectively. First, Ethiopia commended the effort made to link and build on the past three financing for development outcome conferences. We believe that the final outcome documents of the FFID four conferences Conference must consolidate the past gains and build on them. The renewed global financing for development framework should address holistic and intersecting priorities including persistent poverty and inequality, climate-induced disasters, debt distress, and other critical global challenges. The Agenda progress are well reflected in the zero draft, however, the challenges and potential strategies to address them are not sufficiently highlighted. We believe that identifying these challenges and outlining approaches to tackle them is equally critical. Secondly, the zero draft section on addressing systemic issues presents crucial solutions while maintaining the status quo that broadly reflects the past than the present realities. Reforming the international financial architecture, which lacks inclusivity and is governed by outdated structures that fail to reflect the current global economic landscape must be adequately addressed. The zero draft paper has high, rightly emphasized the role of global financial trade and economic governance, however, the draft has not sufficiently recognized the depth and scale of crisis associated with the current system. The existing challenges are profoundly historical, structural and fundamental in nature that negatively impact Africa and the global South's ability to fully participate in and benefit from global system. We are hopeful that upcoming consultations will address the challenges adequately. Thirdly, Ethiopia believes that the focus of the zero draft on the role of science, technology and innovation including artificial intelligence is a critical matter of importance. Increasingly widening digital divide and inequality are significantly impacting the ability of developing countries to implement Agenda 2030 and the SDGs, further exacerbating economic disparities, social inequalities, and global fragmentations. In our view, these critical and increasingly important issues should be addressed adequately in the outcome document of the FFWD4 in a manner that aligns with the scale of the challenges. In conclusion, I would like to emphasize that Ethiopia is committed to actively and positively engaging in the consultations that will occur in various phases. I thank you, Mr. Co-Presider.

I thank the distinguished representative of Ethiopia. And I'll give the floor to the distinguished representative of Switzerland who will be followed by the distinguished representative of Nicaragua, then Maldives. Switzerland, you have the floor.

Thank you, Mr. Chair.

Switzerland would like to thank the co-facilitators for the excellent work on the preparation of the zero draft of the FFD4 outcome document. We highly appreciate the inclusive and transparent manner.

In which they have interacted with member states and stakeholders throughout the process so far.

We support the general approach chosen for the outcome document.

It rightly highlights that.

A global agenda for sustainable development can only succeed if domestic policies enable a legal and institutional environment.

That prioritizes transparency, financial integrity, and accountability, and the rule of law. The emphasis on multi-stakeholder involvement and multilateral cooperation.

Is equally appropriate.

The document is forward-looking and action-oriented.

It is well-structured and easily readable.

We suggest, however, a significant reduction of the text.

To a length which is manageable by Member States and stakeholders for the next iteration. Switzerland believes that there is room for refinement on some of the topics in the further development of the document.

For instance.

Topics such as asset recovery and return, development effectiveness, innovative financing, and data and.

Statistics deserve, in our opinion, some more specificity, and Switzerland looks forward to making concrete proposals in this regard.

During the third meeting of the FFD4 Preparatory Committee.

We very much welcome that the anti-corruption topic has been included in the document as a cross-cutting theme.

On the process ahead, Switzerland would welcome an approach where the co-facilitators provide Member States with revisions of the text rather than carrying out a rigid compilation negotiation. Many processes in the past have.

Shown that strict compilation negotiations become extremely cumbersome for all delegations and are not necessarily conducive to reaching consensus. We trust in the work of the co-facilitators to guide.

UN member states to a final outcome in taking into account all positions in a fair and transparent manner. Regarding the roadmap, Switzerland congratulates the co-facilitators for having established a solid planning framework. In addition to the existing elements, we encourage the co-facilitators to include the retreat of the group of friends of Monterrey. taking place in Mexico City on 19th and 20th of March 2025 in the roadmap.

While the retreat is not an actual part of the FFT4 negotiations, it will provide a useful platform to engage informally and to find compromises that may help the further course of the negotiations.

We commend the co-facilitators for their intention to find.

I thank the distinguished representative of Switzerland. I now give the floor to the distinguished representative of Nicaragua, followed by the Maldives, then Japan. Nicaragua, you have the floor.

Thank you very much, co-facilitator. We'd like to thank you for presenting the zero draft. Nicaragua aligns with the statement delivered by Iraq on behalf of the G77 and China. We are of the view that this document should be progressively strengthened to reflect the realities and priorities of developing countries and that we need to participate inclusively in a balanced way and feasibly to do so. We welcome that this document calls upon countries to refrain from imposing economic, financial or trade-related unilateral coercive measures which are contrary to international law and the United Nations Charter. This is a vital part of the outcome document as part of the commitments towards real development. In the absence of tangible commitments, we demand more equitable access to financing and it's urgent that developed countries abide by their commitments, including the reallocation of special drawing rights and reductions to interest rates for loans funding critical infrastructure, energy, and education projects. Climate financing should always be accessible and additional, prioritising adaptation measures and plans in our developing countries. International climate funds must simplify their requirements and provide direct technical support. Inclusive and sustainable trade should become a true driver for development. We call for the elimination of barriers which penalise our exports and effective support to boost our industrialisation and create value add for our raw materials. At the same time, we ask for technical assistance to fulfil international standards, allowing developing countries to compete on a level playing field. We also call for a reform for global governance. It's not acceptable that our voices are still marginalized in fora such as the IMF and World Bank. Fair representation is needed, which reflects our needs and contributions. Our delegation reiterates its commitment to continue to constructively contribute to the upcoming negotiations of this important process, standing in solidarity and supporting our brothers and sisters of the global south. Thank you.

I thank the distinguished representative of Nicaragua. I now will give the floor to the representative of Maldives, followed by the representative from Japan and then Erica. So the distinguished representative of the Maldives, the floor is yours.

Thank you, co-facilitators. The Maldives aligns with the statements delivered by Iraq on behalf of G77 and China and Palau on behalf of AOSIS. We thank the co-facilitators for sharing the zero draft of the FFD4 outcome document and the roadmap going forward. While the zero draft is very comprehensive, we see space for improvement and development. First, the outcome document must not just acknowledge, but reinforce the recognition of SIDS as a special case for development. This is a recognition that has been enshrined in international norms since the Rio Declaration in 1992. This recognition must not in any way, shape or form be watered down. Second, the outcome document must recognize the overarching role of unsustainable external debt as a detriment to sustainable development. Most developing countries are spending more on debt servicing than on development activities annually. The outcome document must provide concrete, actionable, and doable solutions to this issue. The Maldives has proposed a debt relief mechanism that will alleviate the debt burden without creating new debt in developing countries. In this mechanism, donor countries will pardon a portion of a country's debt or reduce the interest rates of the debt based on a country's investment into resilience. These are critical issues that must be addressed in the outcome document. The Maldives will engage actively and in good faith during the negotiations for this outcome document and look forward to working with all delegations to finalize an outcome document that delivers actionable solutions for financing for development. I thank you.

I thank the representative of the Maldives. I now give the floor to the distinguished representative of Japan, followed by representative from Eritrea. Japan, you have the floor.

Thank you, co-facilitators, for preparing zero draft and convening this meeting. Achieving the SDGs requires an approach that overcomes divisions and forces fosters collaboration, prioritizing human security, strengthening cooperation, and accelerating progress. To accomplish this, it is vital for developed and developing countries to work together. To advance these efforts, Japan emphasizes the following five points. First, addressing the funding gap for the SDGs is crucial. Expanding donor base, engaging emerging economies and mobilizing private capital are all vital. In particular, Japan will continue to highlight the role of private investment in Africa's development at various international fora, including the TICAD IX Summit to be held in Yokohama this August. Mobilizing private funds is equally critical in climate finance. Additionally, prioritizing disaster risk reduction, quality infrastructure, peace building, education, universal health coverage as investment areas is essential, as these are the keys to achieving the SDGs. Second, on debt issues, we should focus our efforts to improving and fully utilizing the expertise of existing mechanism and forum, such as G20 common framework. Creating new and duplicate processes will not solve the problems of debt, but just add complexities and inefficiencies. Third, we welcome efforts to strengthen the involvement of MDBs in development issues. While we fully recognize the urgent need to reform the international financial architecture, discussions on governance reform of the IFIs should take place in a complementary manner. with full respect to their unique mandates, shareholding structures, decision-making processes. In addition, concessional finance and grants should be limited to low-income countries and vulnerable middle-income countries facing global challenges. In this regard, a clear framework for the allocation of scarce concessional resources is essential. Fourth, Inclusive effective international tax cooperation as envisioned by the UN Framework Convention on International Tax Cooperation should be based on consensus decision making. Finally, regarding financial regulation, the expertise and ongoing work of relevant international forum should be respected. And as we deepen our discussion on this issue, we should be mindful not to impose any unintended consequences to financial stability. In closing, Japan reaffirms its.

Commitment to the implementation of the Comprehensive Peace Agreement and the implementation of the Juba Peace Agreement.

I thank the distinguished representative of Japan, Ambassador Yamazaki. Thank you very much. I now give the floor to the distinguished representative of Eritrea, who will be followed by the distinguished representative from Iran. Eritrea, you have the floor.

First, I would like to thank you, co-facilitators, for the commendable work you have done to put together this draft outcome document. It is indeed a solid basis for the upcoming deliberations, which we hope to be inclusive and action-oriented. We also support your proposal for the negotiation roadmap.

I align my comments.

With the statements delivered by Iraq, Bangladesh, and Burundi on behalf of G77, China, LDCs, and the African Group, respectively, and wish to make a few general preliminary remarks in my national capacity. Financing for development is key in fulfilling our collective pledge to achieve sustainable development, the 2030 agenda, and the promise we made to leave no one behind. This is a crucial time, critical time of overwhelming and unprecedented challenges evidently hindering our efforts to deliver on commitments we made at the forefront of which comes the commitments.

To finance development.

We believe that the outcome document must aim to reach and scale up ambitious, actionable, transformative commitments that bridge the financing gaps to accelerate sustainable development and the implementation of 2030 agenda. We need to identify and bridge the implementation gaps and ensure that the renewed global agenda does not slide back but builds on and complements the SDGs of our action agenda. It is time for us to think seriously of establishing a mechanism to reform the international financial institutions under the UN system and to put a reference for this in this text. The reference in this draft text

to the independent nature of those institutions and the recognition of ongoing reforms within these institutions will not

lead us to what we aspire to achieve in closing the financial gap. It would be helpful to avoid the inclusion in this text of controversial and ambiguous terminologies because this may negatively affect the deliberations and deviate the attention towards unnecessary controversial directions. We highly value the dedicated commitments And this takes to address the structural challenges the LDCs face, particularly the commitments to boost trade in LDCs. And we suggest to mainstream the same scale of support for LDCs.

I thank the distinguished representative of Eritrea. And now I'll give the floor to the distinguished representative of Iran, followed by Venezuela, then Belize. Iran, you have the floor.

Uh, allow me to commend the, the work of the co-facilitators for their works and my delegation in line is with the statement delivered by Iraq on behalf of G77 and China. and co-facilitators, the fourth International Conference on Financing for Development is an opportunity to address significant and real challenges faced by developing countries, particularly in the areas of poverty, hunger, financing

gap, systemic inequality, and global financial and trade areas.

The outcome document of the FFT must ensure that development is at the center of all of our efforts to support financing for development, including by reaffirming that the

eradication of poverty is the greatest global challenge and an essential prerequisite for achieving sustainable development.

We need an action-oriented language on many areas, including on the section on reform of the international financing architecture, enhancing the voice and representation of the developing countries, international economic decision-making, norm setting and global economic governance. We thank for reflecting several issues as the viewpoints of the developing countries, but still there are many missing elements and principles including in the capacity building section and reflecting the principles of the right to development and the CBDR. On domestic section, the language are so prescriptive with details on developing countries that the language should be focused on the capacity building. We ask for the deletion of non-consensual languages and platform that are not intergovernmental and the member states, including referring to FATF. On international trade section, the UCM should be highlighted, we appreciate reflecting the languages, but the language is here should be much more, much more action able, action able, and then on science and technology. This section should reflect an open, fair, just and non-discriminatory international environment. On data and monitoring, this section should be focused on the spirit of multilateralism and international cooperation and then need that focusing and bringing the commitment made by developed countries here and then it should be member state driven and then focusing on ownership. On international development cooperation, this section should focus saying focus on the role of the United Nations, and then at the end, Iran is ready to work constructively with you and other partners. I thank you. I thank the distinguished representative of Iran. I now give the floor to the distinguished representative of Venezuela, followed by Belize, and then the Holy See. Venezuela, you have the floor.

Thank you very much, Chair. Allow me first of all to welcome the convening of this briefing meeting and the zero draft of the outcome document and roadmap for negotiations. Chair, Venezuela. alliance with the statement delivered by Iraq on behalf of the Group of 77 and China, and will, in just a few words, explain its national position, which is as follows. We believe that the zero draft is a sound foundation to begin the negotiation process and covers, for the most part, many of the concerns raised by our delegations, including those which were shared at the most recent session of the Preparatory Committee of this international conference. However, we agree that the road ahead is indeed long and includes strengthening various elements in this text to guarantee the adoption of commitments and actions which are genuinely transformative. Chair, it's particularly important for our delegation. to focus on language, on the necessary reform of the international financial architecture and emerging matters such as artificial intelligence. It is also vital to look at the matter of unilateral coercive measures, which today represent the principal obstacle to financing for development for nations subject to such criminal practices, such as my own country, which grapples with more than 1 000 of these so-called sanctions. This is why we welcome the decision of the co-facilitators to include this key element in the zero draft of our text, something which chimes with the provisions of the document adopted in April last year in the context of the FFD Forum under the auspices of the ECOSOC, which without any doubt will correct one of the shortcomings of the adoption, the 2015 Addis Ababa document. We must, however, ensure that we in no way allow this process to become an attempt to rewrite or renegotiate guiding principles in the field of cooperation for development or to reopen previously agreed solutions, including in action on climate change. We therefore call for the alignment of language referring to fossil fuels as reflected by the most recent COP to avoid situations similar to that which we saw in the process for negotiating the pact for the future. We also are skeptical as regards the Financial Action Task Force. Chair, you can count on the participation of the Bolivarian Republic of Venezuela. It will participate actively and constructively in this process, including the paragraph by paragraph review of the draft text so that we can reach a text which is in keeping with the expectations of our peoples and their legitimate aspirations. Chair, once again, you can count on our support.

I thank the representative of Venezuela and now give the floor to the distinguished representative of Belize, be followed by the Holy See. Belize, you have the floor.

Thank you, co-facilitators, and thank you for the presentation of the outcome document, the draft, this morning. One quick reflection, given the remarks we've heard so far, for Belize it's very important to ensure that the finance for development agenda goes hand in hand with the sustainable development agenda, and integral to that sustainable development agenda is the Antigua and Barbuda agenda for small island developing states, much like the other agendas for countries in special situation. We need to ensure that this finance for development agenda adds progress for the SIDS agenda in particular without any backtracking. I will just focus my remarks on general approach for this draft outcome, in particular this issue of the prescriptive nature of some parts of the document. There are, not only is it prescriptive, but it also prescribes one-size-fits-all approaches, which wouldn't necessarily augur well for advancing any of the SIDS agenda. In fact, in some areas, in part 2A and 2B, there's focus on debt inducing instruments as innovative finance, which would not be coherent with the overall thrust of ensuring that there is debt sustainability. The second aspect of the document that is of concern is the benign treatment it offers to processes from within the UN versus how it might treat processes outside of the UN. And we would like to see this document ensure that UN processes are elevated, such as in the case of the tax cooperation and indeed in relation to the multidimensional vulnerability index. Third, we would want to ensure that there's no backtracking on language that has been agreed in other fora. And in that regard, I speak specifically to the language relating to climate in 29H and in section 2C, paragraph 39 in total. Policy prescriptions that have not worked in the past should not now just be repeated as new commitments. And I speak specifically to section 2B. Finally, it is quite unclear who are the principal actors in regards to much of the reform and commitments that have been proposed. Much of this has been deferred to multilateral development banks and other processes, including the Group of Twenty, the Financial Action Task Force and even the OECD. We think that it is internally contradictory if we want to have a more inclusive process to then offer up these processes as the alternatives to what would otherwise be an inclusive process within the United Nations. That begs the question then of voice and representation in other processes and how we might be able to influence those reform agendas to advance the voice and representation of

I thank the representative of Belize. I now give the floor to the distinguished representative of the Holy See, followed by Saint Kitts and Nevis and then Nigeria. Holy See, you have the floor.

Thank you, Mr Co-facilitator. At the outset, let me express sincere thanks to you, Co-facilitators, for your efforts in preparing the zero draft of the outcome document and for convening today's briefing. The FFD4 conference represents a crucial opportunity for renewed global commitment to address the structural and systemic barriers to sustainable development. As such, the outcome document must provide clear and ambitious actions grounded in respect for human dignity and a spirit of solidarity to tackle these barriers and reaffirm our collective pursuit of a sustainable future for all. The zero draft contains many important elements. It correctly acknowledges the monumental global challenges we face and includes essential commitments to reform the international financial architecture, encourage tax cooperation, and scale up and achieve ODA commitments. The Holy See welcomes references to increasing investments in health, education, and social protection systems, as well as the emphasis on aligning all financial flows with sustainable development objectives. For these reasons, we believe this draft provides a strong basis for our negotiations. However, there are some elements of the zero draft that merit further discussion to ensure a stronger vision of financing for development that delivers a future in which no one is left behind, including those countries in the most vulnerable situations. Firstly, it is of deep concern to my delegation that the eradication of poverty, which was reaffirmed just months ago in the Pact for the Future as the greatest global challenge and an indispensable requirement for sustainable development, is not referenced until the 14th paragraph of the draft. There can be no sustainable development whilst poverty persists. Poverty eradication must be at the forefront of our efforts towards sustainable development for all, and should be reflected accordingly within this text. Secondly, while the draft rightly notes the growing debt burdens faced by many developing countries, it falls short of the ambition required to address this crisis comprehensively. The Holy See has continued to underscore the ethical imperative of cancelling the debt of those countries which will never be able to repay what is owed. and for which meeting their repayment obligations undermines their ability to make critical investments in eradicating poverty and pursuing sustainable development. We hope that this outcome document will include the role that debt cancellation can play alongside other debt relief and sustainability measures. Thank you.

I thank the distinguished representative of the Holy See. I have five remaining speakers on my list and they read as follows: Saint Kitts and Nevis, Nigeria, Timor-Leste, Cote d'Ivoire and Bangladesh. I give the floor now to the distinguished representative of Saint Kitts and Nevis.

Thank you, Chair. aligns itself with the statements delivered by the Alliance of Small Island States and the Group of 77 and China. As we have seen from the receding shores of the Caribbean to the hills of Hollywood, we are all vulnerable to the plight of the polycrisis. We look forward to finding common ground on the issue of vulnerability, as the OECD itself is even already doing in its updated graduation policies. The UNSG last week spoke of the Pandora's box of challenges. We believe the application of the MVI and vulnerability more generally is the perfect toolbox for course correction. Saint Kitts and Nevis recognizes the importance of international tax cooperation. Too often, small and vulnerable economies across the Eastern Caribbean Currency Union are targeted via unilateral and unfair blacklisting, which we view as a barrier to trade. Our economies constantly suffer reputational shocks, thereby harming our just transition. We anticipate increased dialogue on this phenomenon as we trade our way to sustainability. Colleagues, think of St. Nevis views the cultural and creative sector as fertile ground for financing development. According to studies, the cultural and creative sectors generate higher revenues than telecoms, globally and employ more people than the automotive industry in Europe, Japan and the US combined. We welcome the call for increased investment in culture to advance sustainable development and view this as an opportunity to more fully advocate for broader understanding in culture and the creative sector, particularly as it relates to small island developing states. We congratulate the co-facilitators on the outstanding work you have done throughout this process and laud your ambition and grace thus far. Thank you.

I thank the representative of Saint Kitts and Nevis. So we have three remaining speakers, I'm informed, that's Nigeria, Timor-Leste, and Bangladesh. So distinguished representative from Nigeria, you have the floor.

I thank you. Distinguished co-facilitators, excellencies, Nigeria aligns itself with the statements delivered by Iraq on behalf of the Group of 77 and China, and that delivered by Burundi on behalf of the African Group. We join other delegations in thanking the co-facilitators, the delegations of Mexico, Nepal, Norway, and Zambia for presenting the zero draft and for outlining the various phases of negotiations. It is the expectation of my delegation that the outcome document will, among other things, prioritize the reform of international financial architecture to engender a rule-based, non-discriminatory international trading system where goods from Africa are not restricted or categorized as substandard. Eradication of poverty must remain central in the outcome document. On the debt section, My delegation supports the calling, the dimension by the African group in the statement for the establishment of a multilateral sovereign debt working mechanism. The outcome document must prioritize comprehensive debt relief measures to provide developing countries, especially highly indebted African countries, the requisite physical space to sustainably finance the SDGs. Other issues of priority include deepening of measures on timely repatriation of illicit financial flows and assets, including dark green interest, as the case may be. Support for the adoption of a UN framework convention on international tax cooperation to ensure African economies are no longer shortchanged through tax evasion and exclusion in global tax decision making. Increasing official development assistance. as distinct from climate finance. Distinguished co-facilitators, I conclude by reaffirming my delegation's willingness and full cooperation to constructively engage in this process. I thank you.

I thank the distinguished representative of Nigeria. And I give the floor to the distinguished representative of Timor-Leste. You have the floor.

Thank you for giving me the floor, Mr. Chair. Thanks also for the briefers. We align our statement with the statement read by Iran on behalf of G77 and China and Palau on behalf of AOSIS. Chair, we welcome the thoughtful points introduced earlier on the zero draft, and Timor-Leste wishes to underline the following points for future negotiations. First, economic diversification is crucial for small island developing states. So FFD4 should engage private businesses and finance sectors to boost economic diversification in seeds and mitigate the risk associated with economic shocks in low income countries. Second, the FFD4 should be able to support the development of innovative financial instruments which can be tailored to seeds ocean based economies. By harnessing the potential of the ocean territories, SEEDS can chart a course towards a more sustainable and prosperous future in small countries like Timor-Leste. Third, the FFD4 should also push for resili- resilience to climate change and environmental sustainability. This area is where most SEEDS and low lying states depend on. We believe that supporting initiatives such as regional insurance schemes, ensuring effective response and rapid recovery from climate-related disasters, and mobilizing private sector, private capital for climate adaptation project such as coastal defenses and resilient infrastructure to PPP that combine concessional financing with private capital will allow seats and LDCs particularly to address biodiversity loss and promote nature-based solutions, mobilize private sector investment for green technologies and renewable energy in SEEDS and scale up climate financing. We also expect that the outcome of FFD4 should address the issue of supporting SEEDS and LDCs in accessing international capital markets to facilitate, to improve creditworthiness and reducing risk premiums Promote regional financial integration and capacity building to enhance the resilience of financial markets in developing countries. We also believe that FFDF should promote domestic private sector investments in developing countries and these aimed at expanding incentives for private sector investments in priority areas like renewable energy, digital infrastructure and healthcare. strengthening alignment of private sector activities with SDGs through impact investing and ESG, environmental, social, and governance standards. We also think that FSD4 should address issues such as micro, small, and medium-sized enterprises, which can be done through establishing dedicated global and regional funds to supporting MSMEs, particularly in the least developing countries and small island developing states. seventh, international cooperation needs to be enhanced through global platform that forces dialogue and cooperation between governments. Timor-Leste reiterates commitments to engage actively in the discussion and elaboration of the outcome of the document.

I thank the distinguished representative of Timor-Leste and I will give the floor to the distinguished representative of Bangladesh who's our last speaker. Bangladesh, you have the floor.

Mr. Chair, for the floor, Bangladesh aligns itself with the statements delivered on behalf of G77 and China and the LDC group. Bangladesh welcomes the recognition of the annual climate finance goal in the draft. We also welcome draft's commitment to IMF quota realignment and World Bank shareholding review in 2025. This presents historic opportunity to strengthen the voice of the developing countries in global financial governance and to ensure equitable decision-making process. We appreciate the call to scale up ODAs as promised earlier for developing countries and the LDCs. At the same time, we emphasize binding commitments to concessional financing. Distinguished colleagues, The graduating LDCs face significant challenges in maintaining trade competitiveness and access to critical resources. It is essential to ensure a smooth and fair transition for their sustainable development. Distinguished colleagues, we once again would like to thank the co-facilitators for their diligent works in preparing the zero draft with many commendable features. The onus is now on us to build upon this and to make our best efforts to address the gaps and to strengthen the provisions on debt management, climate finance delivery, trade policy flexibility, and extended benefits to the graduating LDCs. You can count on Bangladesh's continued support and engagement in this crucial process as we collectively strive for building a fair, inclusive, and resilient global development agenda. I thank you, Mr. Chair.

I thank the distinguished representative of Bangladesh. Excellencies, ladies and gentlemen, we have heard the last speaker during this briefing. And really on behalf of all the co-facilitators, we would want to express our sincere gratitude for the various comments that you provided, very rich comments. We do want to just reassure that we have been listening extremely carefully to all the things that have been put forward. What we do here, and I don't mean to summarize the discussion, but what we do here really aligns with the commitment that has been made by the co-facilitators to have an ambitious and action-oriented document. And we've heard many of you asking for strengthening of the language and concrete outcomes in that respect. Having said that, we invite you to submit your written statements, would welcome your written statements by e-mail. And the e-mail is FFD4@un.org. FFD4@un.org. With that said, I want to call this meeting as adjourned. Thank you.