(6th meeting) 2026 ECOSOC Forum on Financing for Development Follow-Up (FfD Forum)

I call to order the 6th meeting of the 2026 session of the Economic and Social Council Forum on Financing for Development Follow-up. Excellencies, distinguished delegates, I invite the Forum to resume its consideration of Agenda Item 2E to hold a panel discussion on country strategies and platforms. I am pleased to welcome our distinguished presenters for this discussion. I also welcome our moderator, Mr. Thomas Director of the Sustainable Finance Hub at the United Nations Development Programme, and he will conduct the discussion. I look forward to an open, constructive, and productive exchange of views. Mr. Bello, you have the floor.

Thank you so much, Chair, and welcome everybody to this session. On country strategies and country platforms. We have a very exciting lineup for you. I know it's midway through the week, your energy levels may be dipping slightly, but we'll be putting them on an upward trajectory this afternoon. So thank you to the panelists in advance for your inspiring words. So yes, a session on country strategies and country platforms, and behind these words I just want to highlight 3 specific priorities that we see across the world as countries take forward these country strategies and platforms. First, this is all about countries leading their financing for development agenda. At a time and in a context that is characterized by transactions, by deals, by quick wins, these country-led approaches are proving critical in negotiating and leading the finance for development that the developing world wants. The second criteria we see across the world as these strategies and platforms are taken forward is the partnerships that they bring together, the partnerships across government and the private sector and across domestic constituencies and international actors. And the third aspect that we see across the world in these financing strategies and country platforms is a focus on mobilizing all sources of finance for sustainable development. We, as UNDP, are supporting some 90 countries along with other partners in developing integrated national financing frameworks, and we've seen these financing frameworks mobilize more than $50 billion in new financing. So these are financing frameworks that have an impact. And also, to bring in some texture to the discussion, we are also seeing links being made to NDCs, Nationally Determined Contributions, and finance for climate action. We saw in COP30 in Belém, 30 countries launch country platforms for financing their national determined contributions. I will stop there and just briefly introduce the panel before asking them 3 questions each, but only giving them 5 minutes each to respond because I'm mean like that. We have with us, and I'm so excited to welcome, the Honourable Kenye Bale, Minister of Planning and Economic Development of Sierra Leone. We've got Sanyade Okoli, Special Advisor to the Minister of Finance of the Federal Ministry of Finance of Nigeria. We have Rishad Bade, the Acting Deputy Permanent Secretary of the Ministry of Finance and Planning of the United Republic of Tanzania. And we also have Perla Noemi Soto-Veloz, the Director of Department of Strategic Analysis and Foresight of the Ministry of Sectoral Development and Planning, Dominican Republic. So here are my 3 questions, and then I will pass along the panel. First, how are countries translating the severe commitment into concrete financing strategies and reforms at the national level? Second, how are integrated national financing frameworks being used to align planning, budgeting, and financing decisions and to strengthen coordination across government? And third, how can partnerships, including through-country platforms and development cooperation, better support nationally defined financing strategies? So 3 big questions for 5 small minutes to each of you, and I'd love it if we could ask the Honourable Minister of Planning and Economic Development from Sierra Leone to speak first. Over to you, Minister.

Thank you, Moderator, Mr. President, colleague panelists, distinguished participants. I would like to start by expressing appreciation to UNDESA for convening this important dialogue and for its continued leadership in advancing the global financing development agenda. 3 questions. I think the overview that I will give hopefully will cover all the questions and within the stipulated period of time. Reflections on Sierra Leone's initial experiences in implementing the SEVIA Cebia commitments, because in implementing the commitments, Sierra Leone has been deliberate, structured, and nationally owned our follow-up to these commitments. Immediately after returning from Cebia, we convened national dialogues to reflect on key takeaways most relevant to our development and transformative agenda. These discussions focus strongly on strengthening domestic resource mobilization and crowding in private capital, including raising of the tax-to-GDP ratio towards at least 15%, enhancing transparency to curb illicit financial flows, scaling up blended finance, strengthening investors' confidence, and ensuring meaningful inclusion of the private sector and civil society actors in decision-making. Many of these actions were already pursued prior to Seville, but post-Seville, we decided to anchor follow-up action within our existing integrated national financing framework. The Technical Coordinating Committee was the pivot, but also we had a high-level Development Partners Committee platform which existed, where this brought together cabinet members, senior public officers, and development partners. My directive to these bodies post-Seville was clear: to translate global commitments into practical national actions. Dialogue in these fora culminated in a National Policy Conference on Financing for Development, which we held before the end of that year, December 2025. This was organized jointly with the Ministry of Finance, development partners, the private sector, and research institutions. The conference produced a set of forward-looking recommendations centered around innovative financing solutions. Building on this, our INFF Technical Committee consolidated 11 priority policy areas. Because of time, I won't go into this, but these range from strengthening public financial management and domestic revenue mobilization to advancing blended finance, diaspora finance, climate finance, and public-private partnerships. We have since developed a follow-up action matrix and results framework to guide implementation, with strong emphasis on prioritization and sequencing. Currently, our focus is on mobilizing blended finance and diaspora finance, strengthening coordination for sustainable investment, developing bankable projects pipelines, and advancing key reforms such as national credit rating process. Just this week, as a follow-up, we presented 2 bankable projects yesterday in energy and the blue economy at the SDG Investment Fair, demonstrating our commitment to moving from strategy to execution. Having said this, and I don't know how many minutes I have left, but in Sierra Leone, the Integrated National Financing Framework has served as a central platform for coordinating financing policy across the government and aligning engagements with our development partners. We have strengthened cross-government coordination by linking planning, budgeting, and financing decisions. We've ensured that financing strategies have not been developed in isolation, but are fully integrated with our medium-term national development plan. At the same time, it has provided a structured interface. The other 2 questions that I have to answer, probably just briefly, we look ahead and we believe that networking and network can play a transformative role in advancing the Sevilla commitments. We expect that we will be able to further this coordination, facilitate peer learning, provide actionable guidance, strengthen coordination, and elevate country voices. My time might be up, so all I would like to say in conclusion is that Excellencies, distinguished participants, Sierra Leone, and you can see from these actions, remains committed to translating the severe commitments into concrete national actions. Our experience underscores that while challenges do remain, and I did not have time to discuss the challenges, with the right platforms, the right partnerships and support, countries can make meaningful progress in mobilizing sustainable development financing. I thank you.

Thank you, Minister, for such a clear outline of the deliberate, structured, and nationally owned approach to finance that you're taking in Sierra Leone. I think a true inspiration to all of us in these difficult times of how countries are driving forward their agendas on finance for development. I'm going to ask the same 3 questions without repeating them, because that would waste time, to our colleague, the Special Advisor to the Minister of Finance of Nigeria. Over to you.

Thank you, Mr. Moderator, Mr. President, Excellencies, distinguished colleagues. Let me begin with a simple proposition. For Nigeria, the SEVIA commitment is not a theoretical framework, but in truth, it's a practical reform agenda that aligns squarely with our economic transformation objectives. It's about how we mobilize domestic resources more effectively, how we improve the efficiency of public finance, and how we use scarce resources Sorry, how we use scarce public capital more strategically to crowd in private investment. Since Mr. President took office in May 2023, Nigeria has been undertaking a bold but necessary reform. Could you hear me okay? Yes. Nigeria has been undertaking a bold and necessary reform program, but more specifically, over the past year, we have implemented one of the most significant overhauls of our fiscal architecture in decades. At the center of the effort was a decisive shift towards stronger domestic resource mobilization. We have passed 4 major tax reform laws designed to broaden the tax base improve administrative efficiency, improve the level of fairness and equity, and align with global standards. We have also introduced a development levy to consolidate fragmented charges, improving collection while ensuring that revenues are directed toward national priorities. But this is not just about raising more revenue. It's equally about improving how public resources are managed. We are digitalizing our revenue systems. We've done a lot of work to strengthen the treasury transparency and also tighten control to remove and reduce leakages. As we're engaged— and we're engaging globally on tax expenditures, recognizing that revenue foregone is just as important as the revenue that we collect. As with many other countries, all of this is taking place within a constrained fiscal environment. So the question is not simply how to raise more, but also how to use what we have more effectively and more catalytically. On the question of the INFF, it really is about coherence. We have been addressing the our cohesion and coordination through the INFF. In practical terms, we use the National Development Plan. It's a 5-year plan. It's currently being updated, but that is what our budgeting and our fiscal spending is hinged on. We also last year set up a Fiscal Coordination Committee, which has worked across government to ensure alignment on our fiscal reporting, but also on some of the key assumptions that we're using in our medium-term expenditure framework. At the state level, the INFF pilots are improving revenue mobilization and strengthening investment pipelines. Coordination challenges remain, particularly across federal and subnational systems, but the direction is clear and a lot of progress has been made. We are moving from fragmented decision-making to a more integrated and disciplined approach to financing development. On your question on the country platforms and partnerships, the principle here is straightforward. For us, partnerships must support nationally defined strategies, not drive them or substitute them. Over the last year or so, significant effort has been made to engage both development partners and the private sector around the government's economic priorities, so we're all on the same page and pulling in the same direction. I'll take, for example, the development of the World Bank Country Partnership Framework reflects extensive cross-government coordination and lots of engagement, and everybody's sitting literally around the table to ensure that, again, there is alignment of direction and effort. Similarly, our collaboration with the IFC on building a pipeline of bankable PPP projects focuses on project preparation, risk clarity, and investment readiness, because in truth, as we all know, capital does not flow to ideas. It flows to well-structured, investable opportunities. Let me conclude therefore by saying that Nigeria's approach to financing development is grounded in domestic reform. Secondly, we are building institutional architecture. And thirdly, these partnerships that we talk about remain critical, but we recognize the need for them to become more coordinated, more country-led, and more catalytic in mobilizing capital at scale. I thank you.

Thank you so much, Special Advisor to the President on Finance and Economy of Nigeria, for your remarks. I'm going to immediately pass to my left to the Acting Deputy Permanent Secretary of Ministry of Finance and Planning, Thank you very much, Mr.

Moderator, and the President, and everyone, and distinguished guests. It's my honor to speak again on this audience. I sometimes feel like it's not the first time I'm speaking here, but it's the first time for this particular audience. Thank you very much. What you ask as 3 main questions, that's what I'll try and respond to. First is how translating the severe declaration to concrete strategy. I'll talk about Tanzania, but I'll also talk about Africa in general and what we projecting out of this particular conference. Tanzania is translating a severe commitment into action through a clear shift from commitments to concrete systems, reforms, and financing instruments. At the core of these efforts is our integrated national financing framework, which aligns development planning with financing strategies across both mainland and Zanzibar. This has strengthened coordination between planning, budgeting, financing, and ensuring that resources are directly linked to the national priorities. At the moment, we are working with— on the expenditure side with a medium-term expenditure framework, and on the revenue side with a medium— term revenue strategies, which we managed to develop out of this process. And we are implementing our 2050 vision, which has outlined where we're actually going to look at the resources. Mostly, 70% of our resources for implementation of our development projects is targeted to come from the private sector. So it's a big ask, and this is quite an opportunity for us to see how we can move on from there. But going back to the Tanzania strategy for implementing the SEVIA commitment focus on advocating systemic financial reforms while building its own domestic progress, Tanzania has made milestone achievements in implementation of the SDGs, with significant progress in key areas like health, food security, and education. This positions Tanzania to leverage global support under the new framework. I would like to just talk a little bit about the core pillars of our strategy. First is on the debt management. Tanzania supports comprehensive review of debt assessment criteria and innovative approaches like debt-for-development swaps, channeling repayment into projects such as environmental conservations. Second, trade and economic growth. Tanzania calls for fairer international trade policies to support developing nations in adding value to their goods and enhancing production capacity. Third, collaboration and technology and the risks. The need for an enhanced collaboration in science, technology, and data systems is important, including co-financing major projects and reducing investment risks for developing nations, which we feel like is quite important that comes out of severe We support the severe declaration and we feel like it's something that can be progressed across the developing nations. The other thing on number 4 is climate and environment, and we urge for increased funding for biodiversity, climate resilience, and operationalization of the loss and damage funds to support to support affected countries. And lastly, which also responds to your question, is bilateral action. Bilateral partnership in identifying priority sectors such as renewable energy, infrastructure, agricultural technology for joint investment is quite important and we feel like we have to support that. Tanzania is strengthening local government financing through an Integrated Local Financing Framework, ILFF, which is supported by UN systems and other development partners. This initiative will enhance local authorities' ability to mobilize sustainable finance for projects aligned with the SDGs. It's my humble opinion that African nations during this meeting and conferences presented a strong unified front focused on key priorities: domestic resource mobilization, number one; debt relief, number two; access to concessional finance, number three; climate funding, number four; and private capital mobilization, number five. For Africa, a key initiative in the Platform for Action on Private Investment Mobilization. An African-led mechanism is needed to shift capital toward priority areas like trade corridors and renewable energy. Thank you very much, and we'll wait for further more questions.

Yes, thank you, and indeed I will pass to our final panelist, but I will come round for another quick set of interventions. And I'm thinking that from the remarks I've heard, it would be nice to hear about some challenges you face in relation to your integrated national financing frameworks, particularly in respect to private capital mobilization. So I'm just leaving that in your minds as something To think through a little bit, but as you do that, let me please pass now to our fourth panelist, the head of Department of Strategic Analysis and Foresight of the Ministry of Economy, Planning and Development, Dominican Republic. Over to you.

Muchas gracias. Thank you very much, moderator. Excellencies, distinguished delegates. I will address the 3 questions together and how the Dominican Republic has initiated implementation of the Seville Commitment. It's an honor for us to be participating in this space at a time of critical challenges for international financial architecture. Since the Seville Commitment, we have undertaken the challenge of translating this into a concrete national roadmap, being aware that political will must be accompanied by solid operative mechanisms. And this is why we have opted for implementing the National Integrated Financing Program, which underpins our national development strategy through 2030. Since 2012, this has been guiding our long-term vision. However, to date, it doesn't have a specific financial framework. We are seeking to multiply our GDP in the next few years by 2036, and we have achieved a key point, the zero draft of the financing strategy for the Dominican Republic, and this comprehensively addresses all of these sources— public, private, national, and international— all of these sources of financing. Our strategy stands out because we're not only seeking to mobilize capital but to carry out a diagnostic of structural issues and to promote structural reforms in a tripartite permanent way. And this effort is led by the Ministry for the Economy with technical support from UNDESA, UNDP, and others. And we have a catalog of financing mechanisms that we hope to implement. In the next few months, we will be beginning a multi-stakeholder phase in order to involve the private sector, government, and civil society, and our development partners. And we will be transforming this technical document into a tool for shared responsibility. Innovation is also part of our implementation process. Thanks to the— success of the Joint SDG Fund, we're designing an AI tool based on large language models before we conclude this year. The Dominican Republic will be the first country to institutionalize a solution based on AI that can attribute multidimensional, multisectoral budgeting, which is crucial for South-South cooperation. This step forward demonstrates how IFFs can administrate public resources and ensure that each budget line is aligned with national priorities. Finally, it's important to highlight that the success of this initiative depends on the leadership of the government that allows us to implement them and learn and build on them. We are also grateful to our partners and we reaffirm our conviction that financing development is a collective task that no country can do alone. I thank you.

Thank you very much indeed. That was fascinating, particularly to hear about your AI-supported multidimensional, multisectoral budgeting. That sounds really a step forward in the way that we manage budgets for sustainable development. I warned our panelists I would come back with a little question around a big issue in integrated national financing frameworks, the challenge, but also some of the ways in which you have overcome those challenges in terms of mobilizing private capital. for sustainable development. And if you will allow me to go around the panel in the same sequence but even more strict on time, I apologize for that, Minister, as I pass to you first with a minute to respond. Over to you, Minister.

The timer anyway. Well, I did say earlier that the process is not without challenges. But I did not mention the challenges, so I can mention some of them now. Coordinating a broad multi-stakeholder group requires a sustained effort. It is a challenge, but we overcome it with strong institutional leadership. But we also need adequate resources for this, so that's a challenge. Additionally, the capacity challenge exists. Capacity to undertake some of the actions that I referred to before, developing bankable projects and just leading with the national ownership. There's a challenge of ensuring that these coordinating platforms are inclusive and functional, and then also Capacity matters. We need the internal capacity to do this, and we need the internal capacity to develop pipeline projects. That's a challenge, and we try to overcome it. Trust also is key, especially when you're mobilizing private capital. The challenge is to build up that trust, and we try to do it as best we can. These are the main challenges that I see that I can give you within the timeframe, but I must say that we are addressing all of these challenges.

Thank you so much, Minister. Straight over to the Special Advisor to the President on Finance and Economy, Nigeria.

Thank you. We've made a lot of progress on portfolio investment. From about $4 billion net reserve in 2023, it's now about— by the end of 2025, it was about $35 billion, and on a gross level, it's $50 billion. On the foreign direct investment, it has been a lot slower. As Madame Ballet said, a lot of it has to do with confidence, which, as you can imagine, takes time. But trying to increase investment both domestically and from foreign investors is actually a core focus of the administration's efforts now to drive growth. There are 4 pillars that we've been working on: continuing to improve our macroeconomic stability, also improving the governance framework with the in terms of regulatory frameworks, policies, etc. Then we're also investing a lot in infrastructure to reduce the risk for operators in Nigeria, so a lot being invested in road, also digital infrastructure. The last one which relates is a pillar on trying to improve general access to credit. and also to equity. In terms of our Investment Securities Act, a new act came online in 2025, and the central bank is also doing work to make it easier for financial institutions to lend, especially to SMEs. Thank you.

Thank you so much. Acting Deputy Permanent Secretary.

Over to you.

Thank you very much. I think 1 minute is quite too little, but I will try my best. A few things that I could say could be the main issues that could block or could prosper the whole process. One is we need to have a clear policy, particularly in terms of how the funds can flow down to the local level. Strong public finance systems are fundamental issues that need to be tackled. The second issue is capacity, which has been quite explained by Sierra Leone Minister, and its capacity is how we can create the bankable projects and such. The other thing is digitalization. Digitalization has got 2 aspects. One is how we can actually digitalize information that we collect and also how to use a digital platform to collect revenues. We've heard from many other contributors here talking about how the mobilization of resources can work through the digitalization. But the other thing is ownership. It has to have a local ownership. This is something very important that we need to emphasize. You also said, moderator, about the partnerships. Partnerships are very key in terms of trying to de-risk the projects, to de-risk and make the projects bankable, and also scaling up is quite important that we work together in partnership to make that all these tools can work together. Thank you very much.

Thank you.

And finally, Over to our colleague, the Head of Department of Strategic Analysis and Foresight.

Thank you. During the process for building our financing strategy, we identified a number of challenges for mobilizing of domestic private capital and international private capital, despite the fact that the Dominican Republic has 5% of GDP coming from foreign direct investment. We still have domestic challenges in terms of regulation of the financial sector and monitoring financing. And what I'd like to highlight is that 90% of the productive sector is made up of SMEs. Creating an enabling environment in terms of regulation, simplifying processes and accessing finance for them is absolutely crucial in order to mobilize domestic private capital. Similarly, in terms of monitoring impact investment and Philanthropy is also one of the major challenges that we intend to tackle during this integration process of private financing. I also want to highlight coordination across stakeholders. This is not separate from the public sector and financing from development.

Thank you.

Brilliant. Thank you so much to our panelists. And now we are going to go to the floor with a couple of respondents that I think are ready, and I hand over to you, President.

Thank you very much, Mr. Bello, for moderating the panel discussion. We will now open the floor for an interactive discussion. I'd like to remind speakers that in order to accommodate as many speakers as possible, to give them the opportunity to take the floor, time limits of 2 minutes for individual interventions and 3 minutes for statements on behalf of groups will apply. In order to enable the interpreters to do their best, please deliver your statements at a normal speaking speed.

Thank you.

Before we do that, we'll give the moderators a chance to intervene, and I'll ask the Senior Partnership Officer of the Asian Infrastructure Investment Bank to say a few words.

Thank you, President, and good afternoon, ladies and gentlemen. It's a great pleasure to be here representing the Asian Infrastructure Investment Bank based out of Beijing, China, With your permission, perhaps it would be an opportunity for me to actually share a little bit on the bank's experience with country platform and development cooperation, which jives with the overall theme of country strategies and platforms. I would just like to share that partnerships through country platforms and development cooperation play a crucial role in supporting nationally defined financing strategies. I'm sharing this from an AIIB infrastructure financing perspective. In our latest non-regional member, which is Tanzania. So together with the UNDP and UNDP-led platform, known as the Tanzania Investment Growth Facility, supplemented by a technical assistance facility, again led by by the UNDP, known as PISTA, which is the Project Investment Support and Technical Assistance Platform. The AIIB, UNDP, and partners are aligning resources and expertise with host country priorities. By doing this, we are scoping projects and designing financing solutions that are tailored to national development objectives of Tanzania. This collaborative approach or example enables AIIB to mobilize additional capital, strengthen policy dialogue, and support capacity building, ultimately leading to more effective and sustainable infrastructure outcomes, that are closely aligned and in this example would be Tanzania's strategic vision. Thank you. Back to you, President.

I thank Mr. Pinkgea for those words. I'll now invite Deborah Swanepoel, Director of the Ministry of Finance of South Africa.

Thank you, Mr. President. As one of South Africa's National Focal Points on Financing for Development, I'm pleased to share a brief update on the discussions of the Network of National Focal Points, which met on the margins of this week's FFD Forum. The Network is a concrete outcome of the Sevilla Commitment, which called on member states designate focal points to strengthen national follow-up on financing for development. To date, around 80 countries have nominated focal points, with roughly 50 participating in this week's discussions. Our exchanges focused on 2 core objectives: first, to enable peer-to-peer learning and the exchange of country experiences; and second, to strengthen the link between global policy discussions and national implementation. Both by improving information flows to capital-based colleagues and by ensuring that national perspectives inform deliberations here at the FFD Forum. We also agreed that the Network would remain voluntary, country-led, and open to all UN Member States. Several key messages have emerged from our discussions. There was a strong convergence around a light, demand-driven structure, one that is practical, results-oriented, and avoids adding reporting burdens. There is a clear appetite for thematic peer exchange, particularly on issues that will be under in-depth review at next year's forum, including domestic resource mobilization, debt and debt sustainability, development cooperation, and science, technology, and innovation. We also emphasized the importance of strengthening information sharing, such as through virtual briefings ahead of key milestones, to ensure that Capital Bay's colleagues remain fully engaged. At the time, the network can serve as a platform to share practical country experiences, including on issues such as country platforms. Looking ahead, the network will pilot different modalities of engagement over the coming year, with focal points taking stock at next year's forum to assess progress and refine its direction. This week has laid a strong foundation. The work of building the network together now begins. Thank you.

I thank the Director of the Ministry of Finances of South Africa, and I now give the floor to the distinguished representative of India, who will be followed by Indonesia and Equatorial Guinea.

Thank you, Mr. President. Country-led platforms enable countries to tailor financing frameworks to their national circumstances. In our experience, they can help assess financing needs, mobilize resources, and support effective implementation and monitoring of development priorities. India has operationalized its INFF not as a rigid template, but through a model of cooperative and competitive federalism. As reflected in the SDG India Index 2023-24, produced by our NITI Aayog, fiscal allocations are increasingly linked to development outcomes at the subnational level. This data-driven approach supports better alignment of public expenditure with national priorities and the SDGs, including through instruments such as sovereign green bonds linked to credible climate targets. Strong fiscal frameworks, outcome-based budgeting, and institutional mechanisms have therefore been central to this effort. India has also leveraged digital public infrastructure to enhance domestic resource mobilization, improve targeting of subsidies, and increase efficiency in public spending, thereby strengthening the effectiveness of national financing strategies. Regarding the Network of Focal Points, India views it as a useful voluntary platform to facilitate peer learning and exchange best practices, particularly among developing countries. It can facilitate two-way engagement by bringing national experiences into global discussions, and translating global commitments into actionable strategies at the country level. It is important, however, that such mechanism remains flexible, non-prescriptive, and respectful of diverse national circumstances and don't create additional reporting burdens. Technology can also serve as a force multiplier in improving efficiency, transparency, and inclusion, and India stands ready to engage with partners through this network to share experiences and strengthen institutional coordination in support of sustainable development.

I thank you.

I thank the distinguished representative of India and I now give the floor to the distinguished representative of Indonesia.

Thank you, Mr. President. Indonesia reaffirms the importance of the CEFILA commitment in advancing country-led and nationally owned financing strategies as a critical means to accelerate implementation of the 2030 Agenda. To complement this, we need effective operational mechanisms that translate national priorities into concrete financing and investment decisions. In this regard, instruments such as integrated national financing frameworks must go beyond planning tools and function as practical mechanisms that align development priorities with public finance private investment, and development cooperation, shifting from fragmented approach toward coherent implementation-ready pipelines. Indonesia has taken concrete steps. First, strengthening domestic resource mobilization through tax system reform, including the core tax system alongside reform in excise, regional taxation, and non-tax revenues from natural resources. Second, promoting innovative financing through a sustainable financing roadmap, strengthened debt management and blended finance, while improving the investment climate to better mobilize both public and private capital. Third, ensuring inclusiveness by empowering MSMEs and strengthening subnational capacities, including through alternative financing instruments. Country platforms must deliver tangible results through stronger institutional anchoring, clear roles, and well-prepared, bankable projects. We also see value in the network of national focal points as a platform for peer learning and practical exchange. Moving forward, we emphasize strong national ownership, enhanced project preparation capacities, and a shift from platform-centric approach toward pipeline-driven implementation. Indonesia remains committed to working with all partners to promote financing for development that is country-driven, inclusive, and impactful.

I thank you.

I thank the distinguished representative of Indonesia. I now give the floor to the distinguished representative of Equatorial Guinea.

Distinguished delegates, while the severe commitment and the report on financing for sustainable development 2026 lays out the path. Many countries who are implementing reforms continue to operate in a financial architecture that hasn't kept pace with these reforms. We have undertaken structural reforms of our taxation system to broaden the tax base, improve transparency, and facilitate investment. We're working to adopt a new law of special economic zones to ensure a safe and secure environment. We're moving forward to a modern framework of PPPs to mobilize capital towards strategic sectors. Nevertheless, there is no possible structural transformation if the cost of capital continues to penalize those who live up to their commitments. Financing for development should become a true global public good. Recognition of countries that protect strategic assets such as the Congo Basin ecosystem should enjoy benefits. Sustainable development in Africa requires financial instruments that accompany our ambition for green infrastructure and youth employment. Credibility should be bidirectional. The international system should show equity and swiftness in its capacity for response. Our vision is aligned with the African Union Vision for 2063 and other frameworks nationally. Our plan through 2035 translates these priorities into results. Equatorial Guinea stands ready to be part of a solution. The question is no longer what should developing countries do, but rather is the global system ready to transform alongside us?

Thank you.

I thank the Thank you, distinguished representative of Equatorial Guinea. I now give the floor to the distinguished representative of Cuba.

Thank you, Chair, for giving me the floor.

This panel and the interventions we have heard so far, first of all, we would have wished to hear from views also from representatives, authorities from developed countries as well. In the panel, because it is our impression that the experiences we've had so far are basically the efforts coming from developing countries, and in our view, this requires a complement and assistance coming from developed countries. It is even more precise to have this sort of views at a point where, for instance, the Report on Financing for Development that was released for this forum highlights that ODA has reached one of its lowest, if not the lowest, point in the past years. So it seems that this conversation is about developing countries indicating how we are opening ourselves, generating more space for private capital, which as a matter of fact has been one of the main subjects, if not the main subject, of the conversation these days, as if that is going to solve basically all of our problems. We know that making possible internal growth is fundamental, is a primary responsibility of a state, but we know that, for instance, private investment is not going to solve the needs of investment in healthcare, education, and so many social areas that are vital to achieve sustainable development as a whole. So private interest and corporate interest are not going to be the exclusive solution to our problems. We would have wished to listen from champions in terms of financing for development in this particular section of this forum.

That would be all.

Thank you.

I thank the distinguished representative of Cuba and I now give the to the representative of Children and Youth International.

Thank you, Chair, for the floor. I'm Danish Tariq from Youth Advocacy Network Pakistan, Regional Caucus Coordinator at MGCY for the Asia-Pacific region, and I speak on behalf of the Financing for Development Children and Youth constituency of the Major Group for Children and Youth. Young people have gathered across various regions over the last 2 months hosting regional youth forums and assemblies in the lead-up to the Regional Forums on Sustainable Development. We highlight the following key priorities. First, across regions, rising debt burdens continue to crowd out SDG investments, and we call for stronger coordination at the regional level to advance debt solutions and reduce the cost of capital. Second, we suggest closer integration and stronger linkages between regional and global FFD and allied processes. For instance, developing a formal pathway and outcome format from ESCAP's Macroeconomic and FFD Committee to the FFD Forum. Third, we must ensure that proposed regional integration platforms under the UN-AT Initiative strengthen country ownership and national development priorities and are not driven primarily by donor agendas or centralized decision-making that risks sidelining local realities. Fourth, We call for strengthening the role of regional development banks, including aligning their lending practices with SDG priorities and improving access for countries facing high cost of capital and debt vulnerabilities. Fifth, we call for strengthening the role of UN Trade and Development in operationalizing the Borrowers Platform to capacitate member states for comprehensive debt resolution practices, vis-à-vis enhancing agency for Global South countries in the IFA. Finally, no UN reform is complete without meaningful IFL reform, and governments asking for such should be protected from any direct or indirect retributions. I thank you.

I thank the distinguished representative of Children and Youth International. We have heard the last speaker, and so I will ask Mr. Bello To ask the panelists to share their conclusions and make some final remarks.

Thank you very much, Mr. President, and thank you everybody for those contributions. I'm just going to say a few words of, I hope, synthesis from the discussion, but really hand back to our incredible panelists to say a few last words in closing reflections from your perspectives. But I think a first summary point from the discussion is that there is neither a shortage of leadership nor a shortage of innovation in the ways in which countries are driving their agendas on finance for development. We've heard a vast array of examples across public and private finance both international cooperation and domestic partnerships in the interventions, both from the panel and the floor. We've heard, though, of challenges in capacities, in capacities that are technical in terms of bankable projects and building public-private partnerships to pursue in integrated national financing frameworks, but also the heavy work of coordination and the fact that that drains capacities for governments in leading their integrated national financing frameworks. We've heard how a network of focal points, national focal points, is bringing some peer-to-peer and South-South learning and capacity development and Much more is certainly needed. We've heard about the challenges of trust, of building confidence, both across public and private sectors, across state and citizen, across international and national actors, and the role that these country strategies and platforms can play in building that trust and confidence We've heard how the partnerships around finance for development are so key, that without those partnerships, unlocking either international public or private finance, or indeed domestic capital, will not be possible. We've been reminded this is not just a national, it is also a local endeavor. A very broad synthesis I provide there, but Really looking forward to our panelists providing their final words of inspiration in this session on country strategies and platforms, and I will start in the same order so as not to disturb anyone. Minister, over to you for your closing reflections.

Thank you. Well, as you've heard from all of the panelists, we have made concerted efforts but we still need some targeted support and technical assistance in the areas where we have identified the challenges, the development of bankable project pipelines, blended finance solutions, etc. Equally important is data and digital tools to strengthen evidence-based decision-making. and for stronger coordinating support. But ultimately, the success of the Network does not depend on the dialogue sessions that we have said we have had after the meeting and some of the frameworks, but rather it is measured by the impact on the ground. So we need to go beyond dialogue RCB commitments to deliver tangible, result-oriented support at our country level. Thank you.

Thank you, Minister. Let me now pass to the Special Advisor to the President on Finance and Economy of Nigeria.

Thank you. I think 3 things come to mind as I listen to the various contributions. You're reminded about the need for a very holistic approach as we move forward, but that holistic approach requires even more coordination across government, across various aspects of financing providers, across even within the various forms of financing provider, but it is what it is and we just need to move forward accordingly. The second one is you're reminded how long-term the nature of what we're trying to do is. Transformation is— we'd like to think that it happens as quickly as we want it to, but we must keep pushing on, knowing the direction we need to go. I think that, lastly, the current crisis as a reminder that what we're looking to do in terms of building resilient frameworks for managing the fiscus and economies of our nations, it's not really a nice-to-have, it's a need-to-have, because otherwise we're not going to have the kind of resilience that is required as we move forward, especially in a world where we're coming to accept that that shocks are essentially the new norm. Thank you.

Thank you so much. And please, over to the Acting Deputy Permanent Secretary, Ministry of Finance and Planning, United Republic of Tanzania.

Thank you very much, moderator, and I think at this moment I would like to thank everyone for wonderful contributions that were made today, but more so is this is a realization that this financing for development is a crucial issue that needs to be debated the way it is, and we need to look at all the possible areas where we could collaborate. And particularly the partnership. Partnerships are very important, and I think we have seen what are the key constraints, but what are also the enablers. This exchange is very, very important. We need to help each other, but we need to work together. To make sure that we deliver what has been promised, and it's quite a huge task ahead of us. And I think I would like to thank all those who have ironed out several issues that have come out today. In terms of how the financing for development agenda needs to be transformed, the partnerships that need to be formed, but more so the links that we have, which we probably sometimes can go without seeing them, that they are really important. But more so, I think we have learned quite a bit, and I think all of us will have a moment to think through and continue with a moment to work what are the concrete steps to be made. Thank you very much.

Thank you.

Thank you very much. And now, if I can hand back finally for reflections from the head of Department of Strategic Analysis and Foresight, Ministry of Economy, Planning and Development, Dominican Republic.

Muchas gracias.

Thank you very much, Mr. Moderator. Allow me to focus my concluding remarks on four key issues. Firstly, it's important to bear in mind the multi-stakeholder effort of the development process. Having multi-stakeholder, multi-sector contributions is essential for comprehensive approach to financing for development and having sufficient resources. Secondly, increasing capacity— this is no less important in the first point. It's absolutely fundamental that we build skills and capacity in order to protect countries throughout the process of mobilizing resources, implementing national and international commitments, and in terms of how we can improve domestic management to assign and allocate resources to the priority areas. Measurement and having timely opportunities for decision-making. If we don't have reliable, timely, measurable data to identify those areas of most need where we should focus resource allocation, well, without that we cannot move towards having timely and relevant financing for development. And then lastly, but no less importantly, is the adoption and national adaptation of the Sevilla Commitment. We must undertake the commitments made in Sevilla and adapt them to our realities and national conditions and adopt them and adapt them according to the needs that we have in terms of mobilization of resources, And in order to improve national domestic financing. Thank you.

Thank you so much to our panelists once again for those reflections. I think what we have in front of us is a mix of innovation and the hard slog of reform around these country strategies and platforms. It's a mix of new partnerships but continued traditional partnerships as well, and most importantly, it's a mix that requires more, not less, support in the context of our times. So thank you so much to our panelists. I know we're all eager to support and learn and see how progress moves forward over the coming year to the next forum, and thank you so much for your inspiring leadership in this discussion.

Thank you.

I thank Mr. Bello for his dynamic moderation of this panel, and I also thank our distinguished panelists for their important contributions, and I thank the delegations for the interesting exchange of views. We are now briefly We're actually going to pause the meeting for the podium to be rearranged for the next panel discussion. Please remain seated. Thank you.

Buenas tardes.

Good afternoon. We will— the forum will now hold a panel discussion on regional perspectives on Sevilla Commitment implementation. I'm pleased to welcome our distinguished presenters for this discussion, and I also welcome our moderator, Ms. Thilmiza Hussein, Director of the Regional Commission's New York office. who will conduct the discussion. I look forward to an open, constructive, and productive exchange of views. Ms. Hussain, you have the floor.

Thank you. Good afternoon, Excellencies, distinguished colleagues. It is my pleasure to welcome you to this session on regional perspectives on the implementation of Sevilla Commitment. As Ambassador said, my name is Tilmiza Hussein and I'm the Director of Regional Commission's New York office, which is a joint office that represents and coordinates the work of the regional commissions here in New York. As you have heard throughout the week, the outcome of the 4th International Conference on Financing for Development has reaffirmed the urgency of scaling up financing to achieve the SDGs. While also strengthening cooperation across all levels. In all the regions, countries are facing a challenging environment. Governments are under pressure. They have less fiscal space, rising debt to manage, and at the same time, they are under pressure to spend more to combat climate change and on essential services, on infrastructure, Of course, the global reform remains essential, but many of the solutions will need to be shaped and advanced at the regional level. Regional cooperation provides a critical platform for policy dialogue, peer learning, and coordinated responses to shared challenges. In this context, The UN Regional Commissions play a key role in supporting member states to translate global commitments into actionable policies on ground and to advance regional approaches to financing for development. Today's discussion will explore how regional cooperation can support implementation of the Sevilla Commitment. We are pleased to have 3 regional commissions represented here today. I would also like to invite delegates to consult the work of the commissions across all 5 regions. For example, ESCOA's forward-looking analysis and very innovative tools to support countries' development pathways, and the norms and conventions hosted by ECE that are key enablers for advancing the FFD agenda. Without further delay, let me now turn to— allow me to turn to our distinguished Thank you, speakers. I would like to first invite Mr. Stephen Karinki, Director of Macroeconomics, Finance, and Governance Divisions of Economic Commission of Africa, ECA, to share perspectives from the African region.

Thank you. Thank you very much, moderator. Excellencies, distinguished delegates, ladies and gentlemen, Africa faces a persistent High cost of capital and risk premiums continue to deter long-term private investment in productive sectors and sustainable infrastructure. Fragmented global financial architecture and slow, uneven implementation of debt relief and restructuring mechanisms undermine development momentum. Therefore, Africa approaches the implementation of the severe commitments with a clearer articulation of its financing priorities and a more coordinated regional policy architecture. There is now stronger convergence on debt, taxation, and investment strategies. The immediate challenge is therefore how to operationalize this convergence into financing at scale under tightening global conditions. From an African perspective, 3 structural features shape both the challenge and the opportunity. First, the structure of financing remains externally exposed and cost-intensive. A significant share of development financing continues to be sourced from external markets, often on non-concessional terms with limited insulation from global financial cycles. Second, domestic resource mobilization is constrained by structural factors rather than lack of reform effort. Tax-to-GDP ratios remain below potential, reflecting informality, narrow tax bases, leakages, and administrative constraints. This places domestic resource mobilization at the center of the severe follow-up as a governance, policy, and institutional challenge. Third, market fragmentation limits the scale at which private capital can be mobilized. Many African economies are individually too small to attract long-term institutional investment on competitive terms. Regional integration is therefore both a development objective and a financing strategy to reduce risk and build scale. In response, Africa's policy direction is becoming more targeted and coordinated, with 5 priority areas emerging. One, there is a strong push to modernize tax systems, leveraging digitization to improve compliance, broaden the tax base, and strengthen transparency. Second, there is increasing emphasis on developing domestic capital markets, particularly local currency bond markets, alongside instruments such as green bonds and SME financing vehicles. Third, addressing illicit financial flows and unproductive tax incentives has become a central fiscal priority. Given the scale of resource leakages and the immediate gains that can be realized through improved enforcement and policy rationalization. Fourth, on debt management, the focus is shifting toward transparency, data integrity, and aligning borrowing with productive investment. Fifth and finally, Africa continues to advance reforms in the global financial and tax architecture while expanding the use of innovative instruments such as blended finance, guarantees, and securitization to mobilize private capital within existing constraints. These priorities are being carried forward through regional intergovernmental processes, which are increasingly central to implementation. The recent Conference of African Ministers of Finance Planning and Economic Development, organized by the ECA in Morocco, reaffirmed strong political alignment around domestic resource mobilization, debt governance, and financing for structural transformation. This provides a clear mandate to translate regional consensus into operational follow-up under the SEVIR commitment. In parallel, ECA is supporting several member states states at the country level to address binding constraints in domestic resource mobilization, including profit shifting and tax base erosion. Our ongoing engagements in Kenya, Nigeria, Uganda, and Ethiopia are just but examples. ECA is also providing technical and analytical support to the African Group in the negotiations on the UN Framework Convention on International Tax cooperation. In this context, the next phase of engagement will be advanced through a high-level regional consultation that we have scheduled for July. This consultation will bring together member states, civil society, and development partners to consolidate Africa's strategic priorities under the CVA follow-up. It will be held back-to-back with the meeting of the Committee of Experts At the Conference of African Ministers of Finance, Planning, and Economic Development, Africa's principal intergovernmental platform across ministries of finance. This sequencing ensures that technical deliberations, policy alignment, and political validation take place within a single regional process. Excellencies, at the ECA, our focus is on translating these priorities into operational support for member states across 3 interlinkages. First, analytical and diagnostic tools that move beyond conventional frameworks. The objective is to equip countries with decision-oriented tools that directly inform policy and market engagement. Second, we are deepening regional policy coordination and institutional alignment through ECES intergovernmental platforms and in collaboration with key stakeholders, we are supporting member states to articulate common African positions on key issues, including debt restructuring frameworks and international tax cooperation. Third, we are supporting the development of bankable cross-border investment pipelines, particularly in infrastructure. Across these areas, the objective is to move from fragmented interventions to integrated financing strategies where domestic resource mobilization, debt management, and private investments are addressed in a coordinated manner and where regional approaches help overcome structural constraints. From Africa's standpoint, the implementation of the Sevilla Commitment will ultimately be judged by whether it delivers more predictable financing at lower cost and at sufficient scale to support inclusive structural transformation. This requires stronger alignment between national reforms, regional coordination, and global processes, with regional commissions playing a central role in connecting these levels and ensuring that regional priorities are reflected in global solutions. I thank you.

Thank you, Mr. Karingi, for sharing Africa's key priorities and also how ECA is working to facilitate the implementation of SEVIA commitment on ground. Let me now turn to Asia-Pacific region, where the scale and diversity of economies bring both opportunity and added complexity to financing for development. Mr. Hamza Ali Malik, Director at the— sorry, Mr. Hamza Al Malik, Director at the Economic Social Commission for Asia-Pacific, UNSCAP. The floor is yours.

Thank you very much, Thilmeeza. Excellencies, distinguished delegates, ladies and gentlemen, it's an absolute pleasure to be here and share the perspective from Asia and the Pacific. I'm sure during the course of the week you have already heard the financing gap and the challenges from different perspectives, so I won't repeat those. Instead, I would like to use the opportunity to share how ASCAP, as a regional commission, is working with member states across its 3 core functions. And these 3 functions are research and analysis, targeted technical assistance at the country level, and facilitating intergovernmental discussions and norm setting. So to start off with, in terms of research, just to give you a flavor of kind of topics we are working on in collaboration with countries, key priority is essentially on enhancing tax revenues, specifically or broadly domestic resource mobilization. In one of the cross-country studies, for instance, last 25 years, we were able to distill 3 key lessons which we then shared with member states: one, rationalize tax structure and tax rates; strengthen tax administration; and reduce wasteful tax exemption. So any country that has seen noticeable increase in tax-to-GDP ratio has essentially performed these 3 policy reforms. Another example is focusing on boosting tax morale. So just by introducing new taxes is actually not sufficient to increase revenue collection. There tends to be tax avoidance. To do that, governments need to focus on efficiency of spending, which increases the confidence of the citizens to pay their taxes, and we provided formal evidence in support Second big area example is working on debt assessments, especially keeping in view the SDGs. So our research was slightly different from the traditional analysis on debt sustainability as provided by IMF and World Bank. It's an alternative perspective. In simple words, it allows to see the benefits of investment in SDGs over time and then assess what would the debt situation be. If countries pursue that path. Then again, we work with countries and trying to provide a little bit of an alternative perspective how to assess debt. Bottom line being, high debt on its own is not a problem. How you're using it— is it causing an increase in productive capacity over time? Is it giving returns to the country as a whole? If that is the case, yes, then debt increase is okay. What we need to work, and we do work with countries, in how to finance those essential investments in SDGs, not worry about debt or not penalize countries about if they're experiencing high debt, as long as they are using the proceeds from that debt for supporting SDGs. These are just a couple of examples I shared on the research side. We have an annual, once-in-2-years publication on FFD Report, where we put together our research. We have worked on topics like taxes, infrastructure financing, sustainable financing, how regulators and private finance can come together to accelerate financing, and lately we have been working on strengthening sustainable capital markets, project pipelines, and financing energy transition. Very quickly, coming to the second main aspect of technical assistance, we have a fairly active program of projects working at the country level, trying to translate our research into country-specific context. At the moment, we are working with 18 Asia-Pacific countries on a range of issues. In the interest of time, I'll simply mention them and won't go into detail, but very happy to discuss further in the discussion session or afterwards bilaterally if there is interest from member states. Debt sustainability analysis is something we have worked with about 10 countries. Measuring and curbing illicit financial flows, digitalizing tax systems and administration, greening financial sector or greening banking system— how to get money flowing in support of sustainable development rather than other aspects— integrated national financing frameworks, working together with DESA colleagues, issuance of innovative financial instruments like green bonds, instance, financing nature-based solutions, working with small island developing states, financing energy transition, developing project pipelines. These are some of the salient major areas where we are working, as I said, with 18 countries. Lastly, we also have intergovernmental consensus-building platforms. I'll highlight 4 of them very briefly. One is the Annual Commission Session. It is currently going on this week in in Bangkok. That's our higher-level platform where member states actually come and discuss issues, but more importantly, they share their requests and demand for support from ESCAP on certain specific areas, so it allows us an opportunity to engage on more specific areas where support is needed from regional commissions. The other one is the Asia-Pacific Forum for Sustainable Development, which takes place every year 3rd week of February, and now starting this year there will be a recurring agenda item discussing the follow-up to the Sevilla commitments. We just had the session in February and again we had a very good strong engagement from member states in identifying priorities from a shape as we perspective, which of course were consolidated and then recorded, and we'll be taking it further down the line. Third, we have a dedicated Committee on Macroeconomic Policy, Poverty Reduction and Financing for Development, which meets every 2 years, normally in the first week of November. It has a dedicated agenda item on financing for development issues and that has allowed us to have very substantive discussions zeroing in on financing issues directly, allowing us to understand the demand from the country level and then engage in some specific policy advice. Lastly, based on the decision by the Intergovernmental Committee, a network of national focal points was set up in 2021. It's called the Consultative Group on Financing Strategies. We have been working closely with the experts or government officials based in the capital. There are 24 member states from Asia-Pacific that have already nominated their focal points, and we intend to strengthen that network further in light of severe commitment have also actually initiated national focal points from the capitals, particularly from finance ministries. So what I've tried to share succinctly is that there are lots of opportunities for member states to work with regional commissions and they are already working with member states, whether it's policy advice based on research, whether it's targeted technical assistance, or whether it's engaging in a peer learning exercise or trying to have intergovernmental discussions. Thank you very much once again, Morag.

Thank you, Hamza. Thank you for sharing in such detail depth and breadth of ESCAP's work across so many areas— research, policy, technical assistance, intergovernmental— again, providing space at the regional level for countries to come together and share experiences, coordinate, collaborate. So thank you for that. Let me now turn to Latin America and Caribbean region. a region that continues to grapple with structural challenges, including debt and low growth, while also advancing innovative approaches to financing. Mr. Esteban Perez, Chief of Financing and Development Unit at Economic Commission for Latin America and the Caribbean, ECLAC. Over to you.

Thank you, Moderator. Excellencies, distinguished delegates, ladies and gentlemen. I would like to focus on how the region can use Sevilla as a linchpin to delineate strategies to mobilize resources for development and comply with the SDGs. ECLA has identified 3 areas to do this, that 3 areas in which we can work with countries One is to expand the fiscal space. The second area is to strengthen the mobilization of external resources and also leverage more private resources. And the third one is to strengthen development banks at a national, sub-regional, and regional level. In terms of expanding the fiscal space, ECLAC's focus on increasing the quality and efficiency of expenditure and to promote public investment, which is very low by international standards for Latin American countries and generally is used as a leverage for adjusting fiscal finances. The second area, sub-area within the expansion of the fiscal space is to increase the tax intake by reducing tax evasion and providing a more rational— a better rationale for tax exemptions. As things stand, the tax intake in Latin America is about 21% of GDP, quite below, for example, the 34% of GDP from the OECD. And tax evasion amounts to 6.7% of GDP. The third sub-aspect is to improve tax progressivity. Most of the tax revenue in Latin America comes from indirect taxation, which sometimes can be regressive. And what ECLAC is proposing is to increase progressivity by strengthening taxes on income to natural persons, to property, and to wealth. The second big sub— the second big area for mobilizing resources for development is to provide a better context to mobilize private resources because private resource— because public resources are simply insufficient to comply with the requirements of the SDGs. Second, to redefine the criteria of eligibility for ODA and to support the transitions toward graduation and also learn best practices from the countries that have graduated and continue to collaborate and receive technical assistance from the countries from which they receive before graduation official assistance aid. The third big area where we're focusing our efforts is in development banking at the national, sub-regional, and regional level. Latin America has a long tradition of development banking. We have some of the big multilateral regional development banks such as CAF, We have also some very big national development banks such as the BNDES, and our idea is to extend the role of development banks to finance productive development, to go beyond market failures, so development banks can identify areas for investment that go beyond asymmetry of information, that go beyond the disparity between private benefit and social benefits, and also to strengthen development banks so they could provide technical capacities and the development of innovative financing instruments. And in this regard, we see, for example, financial access in terms of productive development. ECLAC conceives financial inclusion as a product of— as a policy of productive insertion, not only as a policy to access the formal financial markets. We are including these different areas in our work. In terms of development banks, we have established, developed a community of practice with ALIDE and IDB for peer-to-peer learning with national development banks, and we will have the regional fiscal seminar which will take place from the 4th to the 6th of May, where the next steps that ECLAC will take to implement the Sevilla Commitment in terms of fiscal policy are going to be Thank you very much.

Thank you, Mr. Paris. Thank you for sharing how ECLAC is also working with the regional and national development banks and various actors, stakeholders in the region to concretely translate the SEVIA commitments into action on ground. Excellencies, colleagues, it is clear from this dialogue that regional cooperation plays a very important role. It plays a critical role in translating the global actions or global commitments that we have in these global instruments to concrete action on ground in the regions, and it is same across all the regions. Since we have a little bit more time, I want to ask if any of the panelists wants to have wants to share any final reflections or thoughts before I turn the floor back to Ambassador.

Yes.

Thank you for the opportunity. I have a request actually from member states. First of all, thank you very much for supporting and in terms of nominating national focal points from pertinent ministries, in particular finance, both at the regional commission level and now at the global level as well. So my request is, let's strengthen that engagement further. At the end of the day, a lot of issues that we discuss in terms of financing, especially in domestic resource mobilization, debt, are the issues that finance ministries' officials already are working on in each and every single country. But when we talk about those issues at UN platforms, at times there tends to be a bit of a disconnect. I think the national focal points can actually help us bridge the gap. The process has been set in place. I hope it grows further. So my request is let's continue. Please support us and continue to work more closely with pertinent officials so that our work becomes much more impactful and meaningful. Thank you.

Thank you, Hamza. With that, I will give the floor back to Ambassador for interventions from the floor.

Thank you very much, Madam Hussein, for moderating that roundtable. We are going to move to the interactive part of the session and I will give the floor to those who would like to pose questions or intervene in this discussion. So I'd invite you to press the microphone button and just remind you that there is a time limit Thank you. There is a time limit of 2 minutes for individual interventions and 3 minutes for statements on behalf of a group. And in order to facilitate interpretation, we would ask you to please speak at a normal speaking speed and to send in written statements to statements@un.org. Please bear in mind that the microphone will automatically be turned off once the time limit has elapsed. I now give the floor to the distinguished representative of Mexico. You have the floor.

Thank you. The implementation of the Sevilla Convention commitment is not just a technical challenge. It is a proof of our ability to act collectively. This means joining forces across all stakeholders, but it also requires stepping up to the speed and scope which is difficult to achieve without deeper and more sustained cooperation. In Latin America and the Caribbean, we share structural challenges, high levels of vulnerability to external shocks, and persistent inequalities. But we also have key assets— institutional affinity, cultural affinities, and a culture of dialogue that facilitates common solutions. This converts the region into a privileged space for stepping up implementation of the Sevilla Commitment. With this conviction, the government of Mexico, together with the UNDP, convened the High-Level Regional Forum on Sustainable Development last October. This is focused on transforming the Civita Commitment and the Platform for Action into concrete actions. We addressed critical areas: sustainability of debt, progressive fiscal reforms, mobilization of climate and biodiversity funding ahead of COP30, driving gender equality and the care economy, as well as strengthening integrated frameworks for national financing as public-private instruments. Similarly, we highlighted innovations such as sovereign bonds and debt-for-nature swaps and other programs. There are 5 key messages that emerged: integrating sustainable development into public finances, scaling up impact financing, driving financial mobilization and also private capital mobilization, and recognizing that without national leadership there can be no implementation, but we also need regional coordination. We are committed to driving more coordinated action that can transform ambition into results and strengthen the voice of Latin America and the Caribbean in the building of a more just, resilient, and inclusive international financial architecture.

I thank you.

I thank the distinguished representative of Mexico. I now give the floor to the distinguished representative of the Asia-Pacific Forum on Women, Law, and Development.

Thank you, Chair. I speak on behalf of the CSO-FFD Mechanism and APRSEM. We speak from a region that is faced with a myriad of crises while struggling at barely 17% to achieve the SDGs, with the 2030 Agenda not in sight before 2062. This clearly reflects the lack of political will to transform the international financial architecture constraining state policy and fiscal space to prioritize prosperity over payback. The discussions in the room also failed to call out the increasing military expenditure, rise of anti-people and anti-gender policies, and divestments in public financing. To us, the absence of emphasis on addressing such structural barriers undermines the right to development across social, cultural, economic, and political dimensions without which sustainable development, women's human rights, peace, and justice cannot be achieved. In that context, we put forward the following recommendations. First, the need to establish a UN-led intergovernmental process to review blended finance, private finance mechanisms, and their cross-pillar impacts. Establish a comprehensive framework of international investment based on human rights, SDGs and core treaty compatibility underpinned by transparency and accountability. Third, establish a regulatory mechanism under the ECOSOC for credit rating agencies, including a comprehensive review of their risk assessment instruments. Moreover, the Borrowers Platform must be strengthened to capacitate member states for comprehensive debt management practices, enhance the agency of developing countries, and democratize the international financial architecture. And lastly, we welcome paragraphs 65D and F of the compromiso, but reiterating the call for institutionalizing accountability from the ground up and ensuring inclusion of rights holders in every step of the process.

Thank you, Chair.

I thank the representative of the Asia-Pacific Forum on Women, Law and Development. I now give the floor to the distinguished representative of World

Thank you, Chair, distinguished Chair, Excellencies, panelists, and civil society organizations.

I speak on behalf of the NGO Committee on Financing for Development and World Vision International. When I take the floor, I speak for those not in this room, for those who live with the consequences of what we deliberate here and decide. I speak for those whose voices aren't often heard here and live with the consequences of our decisions. I leave you with one key principle, the principle of intergenerational fiscal equity. Our decisions today should not harm future generations. As we have discussed regional and country strategies, we must shape our strategies based on this principle. Today, the impact to the next generation is already visible in classrooms where children face growing class sizes without enough teachers or space, or where, despite promises of basic education, levies continue to push some out of school. Yet their governments are spending over 70% of domestic revenue on debt servicing. I leave you with 3 reflections of our responsibility to the next generation. First, intergenerational fiscal equity in debt and debt sustainability, ensuring that how we borrow and manage debt does not constrain the future. We must continue to ask, debt for what? Second, intergenerational fiscal equity in resource allocation, ensuring that resources are directed towards outcomes and benefits for both current and future generations. Third, intergenerational fiscal equity and inclusion, ensuring the voices of civil society and those often unheard, like children, are reflected in financing decisions. The debt crisis may be globally recognized, but we know the impact is not equal. Some children carry a heavier burden simply because where they were born, because their countries have had to borrow at a higher cost. Ultimately, the question is not how we finance development, but what we leave behind for the next generation. Thank you.

I thank the representative of World Vision. We have heard the last speaker, so I will now ask the moderator to invite key takeaways from panelists and make her own closing remarks.

Thank you. Thank you, Ambassador. After hearing rich remarks from the floor, from member states as well as stakeholders, I will invite the panelists to share their final thoughts, 1 minute each. So let me start with Hamza. UNESCAP to share your final thoughts.

Thank you, Thilmeeza. From a technical standpoint of view, the financing is available to support development ambitions. What is lacking is the political will to go after the initiatives that are available. Simple example, in the context of pandemic, we estimated the SDG financing gap to be $1.5 trillion on average for Asia-Pacific region. At that time, it was thought it was too big for many, many countries. Come COVID, the actual injection of fiscal support or money that was provided to businesses and people was also $1.5 trillion because it was deemed as an existential threat. Resources and money was available. It was only the pandemic that got the push for the countries to actually come up with those things. We need to understand that development should be perceived as a high priority in that context. The resources are there; it's just a matter of allocating them for— in support of sustainable development. Thank you.

Thank you, Hamza. Now let me turn to Mr. Paris from ECLAC.

Yes, I'd like to just Just note that Latin America in the past decade has grown only about 1.1%, which is historically low, less than what the region grew during the lost decade. And the severe commitment and the measures to comply with the compromiso I think are crucial to boost growth. It is essential to boost growth to remedy some of the obstacles that the region has confronted for a very long time in terms of inequality, for example, and in terms of persistent poverty. And for this, regional cooperation is crucial. The region has a long history of regional cooperation and even regional cooperation in finance. And I think Latin America should take advantage of its historical regional cooperation to improve the way in which it can channel finance to the areas that are required. Second, I think that we should look at the examples that have been successful in Latin America so we can get blueprints for the future and for the implementation of the compromiso. And finally, in all of the different measures that we come up to implement the Sevilla Commitment, I think it's very important to take into account the heterogeneity of countries in Latin America in terms of productive resources, in terms of size, and even in terms also of levels of development. Thank you.

Thank you, Mr. Paris. I would also like to note the regional commissions not only work in their specific regions, but we also have a very comprehensive collaboration mechanism where we do inter-regional, cross-regional learning, inter-regional collaboration, and in a very structured way. In that regard, the 5 regional economic commissions work together, and each year one of the commissions is the coordinator. This year is the UNECA, which is the Economic Commission of Africa, and this is why I saved the intervention from Mr. Karingi for last. Mr. Karingi, you have the floor.

Thank you so much, Moderator. Excellencies, I think the comments that we had as reflections of what the regional commissions presented do actually resonate with the statements that we made. I like the point that the moderator has made, which resonates also to what the distinguished delegate from Mexico made about using the regional as a privileged space to join forces when it comes to implementing the CBRD commitment. In Africa, one of the things that we really value a lot, given the paucity of the resources is peer learning. So in the context of implementing issues of domestic resource mobilization, for instance, we had Morocco, for instance, offering to give its experiences, because Morocco does actually quite well when it comes to domestic resource mobilization through taxation, sharing its experience with other African countries. We've also had situations whereby Kenya and Ethiopia 2 neighboring countries, which have had different issues when it comes to excise taxation, working together to see how can we learn from each other so that we can increase the tax take that we get from excise taxes. So I think the regional— what we wanted to present to you as regional commissions is that we are there to ensure that We learn from each other, and the platforms that we have within the within the region, for instance, the various intergovernmental committees that work under our ministers and our ministers conferences of ministers of finance are very very useful instruments that you can use so that we can share we can share experiences. Otherwise, most of the points that were made about intergenerational fiscal equity debt. equity across generations. All these are important issues because they touch on debt and development. They touch on transformation of our economies. I think, as regional commissions, it's our responsibility to work with you to ensure that whatever we do, from acquiring debt or from mobilizing resources or investing, we do it for the transformation of Thank you, panelists.

I would like to assure the member states, all the 5 regional economic commissions together with New York office, we are committed to advancing the implementation of the Sevilla commitments. And with that, we conclude this segment of the discussion and I hand the floor back to Mr. Weissbrenner. Thank you, Madam Chair.

Thank you, Ms. Hussein, for so expertly guiding the discussion. I also thank our distinguished panelists for their substantive contributions, and I thank delegations for participating in this productive exchange of views. We'll now briefly pause the meeting for the podium to be rearranged for the resumption of the general debate. Please remain seated. Thank you.

Good afternoon, ladies and gentlemen. Again, general debate. Under Agenda Item 2C, I now invite the Forum to resume its general debate. May I recall that we have a long, long list of speakers remaining for the general debate. In order to hear from as many participants as possible, I would remind speakers to limit their statements to no more than 3 minutes for national statements and 5 minutes for statements on behalf of groups. To assist speakers in managing their time, a timer will be projected on the screen. Please note— I hate that, but I want you to note that when speakers exceed their time limit, The microphone will be automatically deactivated. I now give the floor to the representative of Finland. You have the floor.

Thank you, Mr. President.

Thank you, Mr. Chair. Finland aligns itself with the statement of the European Union. I want to thank the co-facilitators for their work in preparation of the outcome document. Now we can note that progress has been made in many areas in the follow-up of commitments made in Cevie. At the same time, the Middle East conflict and its economic and financial implications are making it even more difficult to achieve financing needs, especially in the least developed countries. Mobilization of private capital for financing sustainable development remains a key target. We use part of our ODA as an incentive for private investments and are involved in many initiatives to simplify and standardize blended finance. This is needed as there is still lack of transparency on blended finance activities, which in turn impact credit ratings and thus affordability of financing. We are also closely monitoring cooperating with the MDBs to strengthen their blended finance approaches. Domestic resource mobilization is the most resilient source of financing for sustainable development. Finland has long traditions in supporting tax initiatives, for example, the Tax Inspectors Without Borders. These efforts help strengthen tax administrations' build trust between governments and citizens, and generate sustainable revenues for essential public services. Effective and fair tax systems also strengthen the social contract and reduce dependency on external financing. As regards the LDZs, Finland is supporting the organization of this year's LDC Future Forum in Helsinki in May, where discussions focused on how education and innovation can help LDCs to achieve sustained and inclusive economic growth and advance sustainable development. Also, I would like to highlight the official launch of the 3rd phase of the Enhanced Integrated Framework, which took place in MC14 in Cameroon. in March. In conclusion, Finland remains committed to foster partnerships and continue the implementation of the Sevilla Commitment and the SPA initiatives. Thank you.

Thank you, Your Excellency. Now, the representative of Poland, and then Portugal and Egypt.

Mr. President, Excellencies, Poland remains fully committed to achievement of the Sustainable Development Goals. We strongly support actions aimed at ensuring predictability and effectiveness of financing for development. Today, as we all face a series of shocks from the devastating consequences of Russia's aggression against Ukraine to the growing risk of climate change, our collective response is more critical than ever. As a member of ECOSOC, Poland actively engages in the international debate on how to accelerate the 2030 Agenda We stress the need to build resilience, reduce inequalities, and ensure global food security. Excellencies, our voice in this debate is backed by the unique source of credibility— our own history. Over the past 35 years, Poland has undergone one of the most remarkable transformations in modern economic history. We have moved from a centrally planned system to a dynamic market economy and from a developing country to a developed one. Poland, heavily in debt and among the poorest in GDP per capita in the early '90s, acted decisively and today is the region's success story in terms of the GDP per capita, living standards, and the size of the economy. While they recognized the role of international community in supporting sustainable development, we cannot stress enough the primacy of domestic actions in achieving economic growth. We perceive following elements of the development efforts as indispensable for achieving those goals: mobilizing domestic resources, investing in people, as well as combating corruption and strengthening democratic transparent institutions. Development is strongly linked with creating conditions of lasting peace as well as with respect, protection, and fulfillment of human rights. Excellencies, I want to emphasize a point often overlooked: the power of data. In the spirit of the Compromiso de Sevilla, we believe that data and statistics are not just technical inputs; they are core enablers of development finance. High-quality data reduces perceived risks, trust in a country's financial credibility, and ensures that public spending reaches those who need it most. Measurement shapes actions. Therefore, investing in national data ecosystem is not a cost. It is a strategic investment in development effectiveness. Poland stands ready to share its experience and work together to ensure a sustainable future for all. Thank you very much.

I thank you. Now I give the floor to the representative of Portugal and then Egypt, Greece, and Germany. You have the floor, sir.

Excellencies, Distinguished colleagues, almost one year after Sevilla, what matters is clear: we must focus on implementation. And in today's world, this is more urgent than ever. Closing the SDG financing gap, addressing debt vulnerabilities, and reforming the international financial architecture are essential if we want developing countries to move forward with confidence and stability. Portugal is helping take this agenda forward, in practical ways. First, on Go Beyond GDP, we took note with interest of the interim report of the High-Level Expert Group on Beyond GDP and now look forward to its final report. Portugal will support a pilot study under the Global Alliance to— for Go Beyond GDP in partnership with OECD and other stakeholders to identify complementary indicators to GDP. Second, on the Multidimensional Vulnerability Index, we welcome the appointment of the members of the Independent Expert Advisory Panel on the MVI, and we now look forward to the appointment of the MVI Secretariat. Portugal is working with partners on a retreat on the operationalization of the MVI to review uptake across the UN system, international financial institutions, and other actors and to discuss practical national uses for planning and investment profiling. Third, Portugal continues to invest in data partnerships and delivery. Earlier this month, with the OECD and UNOSC, we launched a call to action on triangular cooperation data, evidence, and visibility. Portugal contributes through impact-based partnerships focused on LDCs and SIDS, as well as LLDCs, with a thematic emphasis on human development, especially health and education, together with resilience, fragility, and gender equality. Through the UN Portugal Fellowships on Oceans, Digital, and Outer Space, we are helping partners accelerate SDG progress. We are also strengthening engagement with the private sector, including through EU Global Gateway projects such as the Lubito Corridor. Excellencies, Sevilla was not the end of a negotiation. It was the start of a new path together. Portugal remains committed to multilateral cooperation that delivers and to partnerships built on trust and mutual respect, and to the implementation that responds to the needs of the most vulnerable. I thank you.

I thank the representative of Portugal. Now I give the floor to the representative of Egypt.

Thank you, Honourable Chair. We meet today at a defining moment for the global agenda. While global growth has shown resilience in recent years, it remains increasingly fragile in the face of geopolitical tensions, rising debt burdens and tightening financial conditions. Many developing countries continue to face high borrowing costs eroding their fiscal space, which in turn limits the ability of governments to finance essential social services and crowds out critical investments in education, healthcare and infrastructure. Egypt's approach to financing for development provides one good example. Despite the complex global environment, the recent comprehensive reform agenda has supported macroeconomic stability, and strengthened the foundations for sustainable growth. As a result, Egypt's economy recorded a growth of 44.4% in fiscal year 2024-2025. At the same time, inflation has declined markedly while unemployment rate continued its downward trajectory. However, like many countries, Egypt faces a financing gap in achieving its development aspirations. Egypt has therefore launched its Integrated National Financing Strategy which provides an actionable roadmap for sustainable and innovative financing aimed at accelerating progress towards the SDGs. Furthermore, Egypt is implementing a comprehensive package of reforms, expanding the role of private sector investment, and developing innovative financing instruments aligned with the national development priorities. On the fiscal side, performance also improved through enhancing tax revenues and continued efforts to rationalize public spending. Spending. Egypt seeks not only to advance its national development priorities, but also to contribute to a more inclusive, responsive, and effective global financing system. This was evident in Egypt spearheading the launch of the Borrowers Platform, assuming the role of the interim chair. Excellencies, the challenge before us is not simply about mobilizing more resources. It's about ensuring that global finance works for development, for climate resilience, and for people. Resources exist and innovation exists. What we need now is the collective will to channel global capital towards sustainable development priorities. Let us therefore seize this moment to transform ambition into action, because in the end, financing for development is not only about mobilizing resources, it's about expanding opportunity, about advancing human well-being, and about the future we choose to build together. Thank you, Chair.

I thank the representative of Egypt, and I now give the floor to the representative of Greece.

Mr. President, our delegation aligns itself with the statement of the European Union to be delivered later today. As recent global trends point to moderate growth, persistent inflation, high debt levels, and heightened geopolitical and climate crises, all of which constrain countries' ability to advance Agenda 2030 and the SDGs, the Sevilla Commitment must be implemented and keep serving as our guiding framework. The growing financing gap reflects structural weaknesses in the global financial system more than a scarcity of global capital. As evidently stated in the most recent OECD report on multilateral development finance, the system's failure will depend less on the scale of contraction than on the quality of the collective response of its member states and multilateral organizations. In volatile conditions, financing must be predictable and countercyclical. Development assistance should support climate adaptation, global health, social protection, energy security, and inclusive growth, while fully respecting country ownership. Strengthening pooled mechanisms such as the UN's Central Emergency Response Fund can enhance shock response capacity. Greece's recent 5-year financing agreement with GAVI, the Alliance for Vaccine Immunization is one example that illustrates this approach. It is evident that the international financial system architecture was designed in a different era. Today's realities expose structural gaps and misalignment with SDG priorities. Therefore, domestic revenue mobilization supported by capacity building and international cooperation remains central. To ease borrowing costs and debt pressures, needs-based blended finance can play a catalytic role in supporting productive investment and not excessive indebtedness. Currently, many developing and vulnerable economies face shrinking fiscal space, higher borrowing costs, and greater exposure to shocks. These conditions underline the urgency of addressing debt sustainability and have a negative effect on public development and climate finance. It is therefore a necessity that states should not be forced to trade long-term development and climate action against short-term fiscal pressures. I thank you, Mr. President.

I thank the representative of Greece and I'll give the floor to the representative of Germany and then Uganda and then Bahrain.

Mr. President, thank you. Excellencies, Germany would like to thank the co-facilitators of the outcome document of the Financing for Development Forum 2022. Maldives, and Iceland for their efforts and excellent guidance. We look forward to the final document. We would also like to thank all members of the Interagency Task Force for their valuable contributions. Germany remains committed to the Agenda 2030 as the normative compass for multilateral action. The United Nations remain indispensable for advancing sustainable development and multilateralism. Sevilla has shown that despite growing tensions, conflicts and nationalist tendencies, international cooperation remains strong. The Compromiso is crucial for aligning financial flows with the Sustainable Development Goals. Especially at a time of increasing conflicts, with countries in the Global South bearing a disproportionate share of the burden, the effective implementation of the Sevilla Outcome Document is a matter of urgency. Let me highlight some key priorities for Germany. Reducing inequality and ensuring effective climate action, and more broadly, providing global public goods, are overarching goals. Private sector mobilization complementing public finance remains a key priority. We need to foster enabling environments for sustainable private business and finance, and we also need to leverage public funds to mobilize private capital. The public-private multi-stakeholder initiative Scaled, which is part of the CVAIA Platform for Action, contributes to this by developing standardized and replicable blended finance instruments for sustainable development. We need to continue to adapt the international financial architecture to ensure it is fit for purpose, responds to vulnerabilities facing all countries, especially developing countries, and contributes to alleviating debt burdens. Germany recognizes the importance of enhancing the voice and representation of the developing countries in international financial institutions. Institutions while respecting these institutions' independence. On trade, we reaffirm the central role of an open, rules-based, transparent, and non-discriminatory multilateral trading system with the WTO at its core. Finally, I would like to underscore the critical importance of strengthening the mobilization and effective management of domestic resources. In the Compromiso de Sevilla, we committed to scaling up support for partner countries and we remain dedicated to this goal. Concluding, and speaking in my capacity as a German focal point, we are encouraged by the early operationalization of paragraph 65 of the Compromiso de Sevilla. We are committed to strengthen national follow-up and look forward to further exchanges among the focal point network. Thank you very much.

I thank the representative of Germany. I give the floor to the representative of Uganda.

Thank you, Mr. Chairman, Excellencies, distinguished delegates. Uganda is implementing the Savella Commitment through its public investment financing strategy and has aligned the financing options to our national plans, strategies, and priorities. This is in line with our commitment of implementing the integrated national planning frameworks As agreed in the Addis Ababa Action Agenda, the PAFIS is financed from both public and private sources. Public financing includes traditional sources such as domestic revenue, non-tax revenue, grants, domestic and external debt, and non-traditional financing sources such as climate finance, blended finance, infrastructure bonds, and I must In line with government strategies, Uganda is implementing the 4th National Development Plan with efforts to support national efforts to achieve sustainable development while exploiting high-impact growth areas that will propel double-digit growth over the next 5-year period and subsequently contribute to tenfold growth of the economy over the next 15 years leading up to 2040. Government is improving the country's competitiveness by prioritizing development opportunities and ensuring a rapid uptake of STI in the identified growth areas. These areas include full monetization of the economy, value addition and industrialization, agriculture, tourism development, mineral-based industrial development, ICT, and finance. In conclusion, I wish to state that a firm foundation for coordinated action at all levels is critical in the implementation of the Sevilla Commitment. Through joint efforts and renewed partnerships with the developed countries taking lead, we will overcome the financing challenges that continue to undermine the efforts to achieve sustainable development in economic, social, and environmental dimensions. Uganda remains committed to the implementation of the Sevilla Commitment. Sustainable development can only be realized with unwavering commitment to multilateralism, international development cooperation, and through enhanced global partnerships. I thank you, Mr. Chairman.

I thank the representative of Uganda. I now give the floor to the representative of Bahrain on behalf of Gulf Cooperation Council. You have the floor, sir.

Microphone.

Microphone for the speaker, please. Thank you, Mr. President. I have the honor to deliver this statement on behalf of the member states of the Cooperation Council for the Arab States of the Gulf— the UAE, the Kingdom of Saudi Arabia, the Sultanate Oman, the State of Qatar, the State of Kuwait, and my country, the Kingdom of Bahrain. This forum is at a critical moment for development in the world. There are risks that could affect global economy. President, GCC countries have had a leading role among the most generous donors in the world, showing hence a longstanding commitment in our countries towards global development, and our development funds have provided developmental assistance covering various countries of the world. And in the last 5 years, we have provided a total of $14 billion in developmental and humanitarian assistance. And as a group, we are the 4th biggest humanitarian donor in the world. President, we stress our support for international efforts for financing for development. We remain committed to implementing the Addis Ababa Conference outcomes as well as the civil commitment. We stress the importance of international partnerships while respecting national priorities for financing for development. We stress the importance of capacity building and technology transfer as well as innovative solutions and private-public partnerships to achieve sustainable development. We stress the necessity to enhance the efficiency of the global financial order with more transparency and stability of financial markets so that developing states can access funds and can deal with the issue of debt. We warn, Mr. President, of the consequences of wars on countries that are not parties to conflicts, especially when it comes to economic and developmental consequences of conflict. Namely in terms of infrastructure, including civilian airports, maritime routes, energy facilities, ports, fuel reservoirs, desalination plants, and other important infrastructure, especially— and when it comes to residential areas in countries that are not parties to conflict, this undermines economic stability and disrupts global chains. This also undermines food security and also sustainable development, whether in countries or countries of the world. We call for the end of such damages. So, and we also stress the importance that resources are not dealing with these consequences, but rather with recovery. We note that 27% of total crude oil exports is our contribution, as well as 10% of the global natural gas production. These figures show the importance of supporting stability in the region. This is not a mere regional issue. This is an international necessity to safeguard the economy and development in the world. In this regard, we also welcome the decision of the Legal Commission of the Maritime International Organization adopted during its 113th session condemning the closure of the Hormuz Strait as well as attacks against GCC countries and Jordan. This has undermined the freedom of navigation, international trade, the security of energy, as well as global economy and supply chains. This was also a violation of international law— blatant violation of international law and the UNCLOS. To conclude, Mr. President, we would like to stress the importance of confronting the main global challenges pertaining to development, especially geopolitical tensions and conflicts that undermine global stability and disrupt supply chains, especially on countries that are not parties to— countries that are not parties to conflicts. I thank you, Mr. President.

Thank you. I now give the floor to China on behalf of Group of Friends of the Global Development Initiative. Ambassador Fu, you have the floor.

Thank you, Mr. President. I have the honor to deliver this joint statement on behalf of the 87 members of the Group of Friends of the Global Development Initiative, GDI. We meet at a time when the world is confronted with profound transformations and growing uncertainties. The fragile global economic growth, the widening financing gap, and the rising protectionism continues to impede the implementation of the 2030 Agenda for Sustainable Development. It is high time to reaffirm our commitment to development, uphold multilateralism, and reinvigorate the implementation of the 2030 Agenda. Development should always be placed at the center of the UN agenda. Seizing the momentum of implementing the severe commitment, we must adopt a people-centered approach. To mobilize greater resources for the priority areas of developing countries, including poverty eradication, food security, green development, infrastructure, and the digital transformation. Developed countries must fulfill their respective commitments on ODA and climate finance and provide more financial technological and capacity-building support. International financial institutions and multilateral development banks should play a greater role by providing more long-term, affordable and concessional financing. More support should be given to developing countries in building sound financial systems and upgrading financial infrastructure and help them enhance economic resilience to better prepare for challenges such as climate change, debt burden, and the volatility in international markets. The Group underscores the importance and urgency of reforming the international financial architecture. The governance reform of the international financial institutions needs to be expedited to address the lack of representation and the voice of the developing countries. We advocate a financial culture characterized by prudence, integrity, and innovation, and a commitment to serving the real economy. We call for strengthening of financial safety net. International financial institutions should further strengthen their economic and financial surveillance functions and enhance global macroeconomic policy coordination. The Group is deeply concerned with increasing unilateral protectionism measures and unilateral coercive measures that impede the full achievement of economic and social development, particularly in developing countries. We urge the international community to resolutely safeguard the WTO-centered, rules-based multilateral trading system, jointly promote a universally beneficial and inclusive economic globalization, and keep the global industrial and supply chains stable and smooth. Artificial intelligence and other emerging technologies present great potentials when managed properly. We welcome the UN establishment of the Multidisciplinary Independent International Scientific Panel on AI, and the convening of the UN Global Dialogue on AI Governance in Geneva, Switzerland in July, as well as the 2026 World AI Conference in Shanghai, China, in July. Mr. President, the Group of Friends of GDI stays committed to fostering development partnership, sharing development experience, and advancing practical cooperation to jointly contribute to financing for development and accelerate the implementation of the SDGs. Working together, we can realize Working together, we can realize the vision of a more prosperous future for all where no one and no country is left behind. I thank you.

I thank the representative of China and now Palau on behalf of the Alliance of Small Islands States. You have the floor, sir.

Mr. President, I have the honor to deliver this statement on behalf of the Alliance of Small Island States. We meet at a moment of deep contradiction in the global financing landscape. Expectations are rising, but delivery is receding. Where liquidity exists, yet access remains constrained, and where the urgency of our challenge is matched only by the shortfall of the system designed to address them. We see these contradictions everywhere: a world of abundant capital, yet it is not reaching those who need it the most, nor on terms that are fair; a proliferation of commitments, yet a steady regression in development assistance and concessional financing; a financial system that calls for resilience, yet relies on metrics that overlook vulnerability; And today, these contradictions are being sharpened by global instability. Recent geopolitical tensions and conflicts are disrupting energy markets, driving volatility, and compounding inflationary pressures. For Small Island Developing States, these shocks translate immediately into costs, tightening fiscal space, and reducing our capacity to invest in sustainable development. This comes as SIDS are projected to experience a slowdown in growth to just 2.8% in 2026. Narrow economic bases, elevated debt burdens, and high exposure to climate shocks continue to constrain activity. Nearly one-third of SIDS are in or at high risk of debt distress. At the same time, the imposition of unilateral coercive measures particularly against one of our members, restrict trade and investment, and further entrench the vulnerabilities that SIDS are striving to overcome. Mr. President, if these are contradictions we face, then the task before us is clear. We must advance the full, timely, and effective implementation of the Sevilla Commitment decisively and with purpose. The Sevilla Commitment must become the vehicle through which these contradictions are addressed not merely acknowledged. For EOSIS, our priorities are not separate from addressing these contradictions. In fact, they are a pathway to resolving them. First, to close the gap between commitment and delivery, we must redefine access to concessional finance. This is why EOSIS urgently calls for the immediate integration of the Multidimensional Vulnerability Index into the policies and frameworks of international financial institutions. Institutions and organizations to better guide access to finance, debt treatment, and international support measures. Second, to correct the mismatch between today's realities and outdated systems, we need a global financial system that is fair, inclusive, and representative, since we'll continue to demand an equal seat and an equal voice in the international financial institutions, including the IMF and World Bank. Third, to address the contradiction between abundant global capital and limited access, we must address systemic barriers in global finance. De-risking, declining correspondent bank relationships, and structural biases in credit rating methodologies continue to exclude SIDS from the international financial system. The implementation of the Antigua and Barbuda Agenda for SIDS includes the SIDS Center of Excellence the Global Data Hub, and the Island Investment Forum, which offers practical instruments to move from reactive support to proactive investment. Fourth, to overcome its existing gaps, we must reform the sovereign debt structure architecture. SIDS require timely, predictable, and development-oriented solutions, including the expansion of existing frameworks, to fully include SIDS and the operationalization of the SIDS Debt Sustainability Support Service. AOSIS reaffirms its support for an intergovernmental process on debt. However, this process must be ambitious. It must lead to a system that places people at the center, with a sovereign debt instrument that is fair, inclusive, and responsive to the unique challenges and nuances of small island development developing economies. Mr. President, the contradictions we describe are not inevitable or beyond our control. They are the result of choices deeply embedded in the system, and they can be corrected. Financing for development must shift toward a system that is coherent, equitable, and responsive to those most exposed to global risk. This is the promise of the Sevilla Commitment, but we must take every step to ensure that the Sevilla Commitment is not remembered for what it promised, but for how it delivered for those most in need. For SIDS, the cost of inaction is not measured in missed targets, but in lost futures. I thank you.

I thank the representative of Palau. I now give the floor to the representative of Canada. On behalf of Canada, Australia, and New Zealand. You have the floor, sir.

Thank you, Mr. President. I have the honour to deliver this statement on behalf of Australia, New Zealand, and my own country, Canada. We are grateful for the opportunity to listen to our partners and to share our perspectives on the financing for development agenda. The adoption last year of the Compromiso de Sevilla was a collective achievement, consensus reached in a strained global environment. Yet less than a year on, its implementation is being tested by the realities around us. We are in a period of acute global disruption— rising debt servicing costs, growing disregard for established international trade rules, and accelerating climate impacts were already straining development progress. As a result of conflict, these pressures are now being compounded by severe volatility in global energy, fuel, and fertilizer markets. The costs of today's unprecedented energy supply shocks are being borne disproportionately by the most vulnerable, particularly those least able to respond to crisis. We also note that Small Island Developing States face acute exposure to supply chain disruptions, rising fuel costs, and shortages that jeopardize essential services and food security. These shocks threaten to crowd out spending on health, education, and social protection, reversing hard-won development gains and exacerbating vulnerability. For our countries, this moment reinforces the importance of a multilateral system that delivers in principle and in practice. Development progress must be nationally led and anchored in country priorities and institutions, working alongside local communities, civil society, and other stakeholders at all levels. At the same time, It requires coherent and coordinated international support to mobilize all sources of development finance, to manage risks, to reduce fragmentation, and to address shared challenges. This includes strengthening public financial management and governance, supporting enabling environments for investment, and ensuring that multilateral institutions are fit for purpose. And are encouraged by greater coordination between the multilateral development banks. We also note ongoing work within the OECD Development Assistance Committee to strengthen the broader financing architecture, complemented by advances in international tax cooperation, including implementation of the global minimum tax to improve domestic resource mobilization. And finally, through the Sevilla Platform for Action, CANZ members are advancing practical initiatives around mobilizing private capital, advancing climate-resilient debt clauses, and improving transparency and data to enhance development impact. Mr. President, this forum is a platform for accountability. We strongly value ECOSOC's role in convening member states, UN agencies, international financial institutions, the private sector and civil society, and impressing all of us towards a common arc of delivery. We know that the challenges facing developing countries are immense. We hear you, we support you, and we remain committed to working with all partners to translate the Sevilla commitments into meaningful progress. especially for those most at risk of being left behind. I thank you.

Thank you, Canada. I now give the floor to the representative of Nepal on behalf of the Group of Least Developed Countries. You have the floor.

Thank you, Mr. President. I have the honor to deliver this statement on behalf of the Group of Least Developed Countries. The LDC Group wishes to highlight 6 key priorities. First, FSDR 2026 shows a $4.3 trillion annual SDG financing gap for developing countries, with LDCs facing the tightest fiscal pressures and the least access to long-term, low-cost capital. To close these gaps, the LDCs urge support for implementing integrated, national financing frameworks and tax cooperation initiatives such as Tax Inspectors Without Borders to strengthen domestic resource mobilization in LDCs; a step change in international public and private finance for LDCs using blended and catalytic instruments explicitly aligned with DPOA targets on infrastructure, digital connectivity, energy access, and productive capacities, and designed to de-risk sustainable investment in LDC markets. Second, the LDC Group calls on development partners to urgently scale up ODA to at least 0.2% of GNI target for LDCs, as pledged in Doha Programme of Action and other global commitments. Rebuild grant-based and highly concessional finance for resilience, climate action, and social protection, ensuring that the FSDR-recommended reforms to the aid architecture prioritize LDCs where needs are most acute and fiscal space is most constrained. Third, escalating trade tensions and new tariff measures are sharply eroding market access for developing countries, and average tariffs on LDC exports rose from about 9% to 28% in 2025. We thus underscore full implementation of duty-free, quota-free market access for all LDC products, reversal of crisis-era export restrictions, and strengthened special and differential treatment to counteract the steep rise in tariff and non-tariff barriers. A substantial scale-up of Aid for Trade and trade-related infrastructure finance directed to enhance LDC productive capacity in line with DPOA commitments to double LDC exports and expand value-added and service trade. Fourth, several LDCs are paying more in interest than on essential social sectors, intensifying their severe financing pressures. The LDC Group calls for accelerating comprehensive, predictable, and fair debt relief and restructuring mechanisms for debt-distressed LDCs, including standstills and state contingent instruments, as advocated in FSDR 2026, to prevent development reversal and free fiscal space for SDG and DPOA implementation. Advancing governance reforms of international financial institutions to ensure meaningful LDC representation and to embed LDC criteria rather than income alone as a core criterion for access to concessional windows and crisis facilities. Fifth, the deliverables: International Investment Support Center and the Online University. Are explicitly recognized in the FFD4 outcome, reaffirming their importance for accelerating progress in LDCs. The Group proposes that the International Investment Support Centre should be rapidly operationalized and piloted in LDCs as a standing mechanism providing on-demand technical assistance to structure and attract sustainable FDI aligned with DPOA productive capacity and export targets. The Online University for LDCs be fully funded, and launched as a flagship global public good for skills, science, technology, and innovation, directly supporting DPOA commitments on human capital, digital inclusion, and youth employment. Finally, with 14 LDCs currently in graduation pipeline, it is essential that both graduating and graduated countries receive sustained international support to secure smooth irreversible graduation and prevent any reversal in their development progress. Mr. President, the 2027 midterm review of the Doha Programme of Action will be a critical political moment to assess delivery gaps, adjust course, and renew global solidarity with LDCs. The LDC Group expects the 2026 FFD Forum to feed directly into the DPOA midterm review with quantified, time-bound commitments to reverse ODA declines, expand trade opportunities, close the SDG financing gap, and advance financial architecture reforms so that the Doha Agenda becomes a genuine turning point rather than another missed opportunity. Thank you.

I thank the representative of Nepal. I now give the floor to the representative of Barbados.

Thank you, Mr. Chair. I have the honor to deliver this statement on behalf of the Climate Vulnerable Forum and the V20 Finance Ministers, CVF V20. We meet at a moment of significant geopolitical and geoeconomic turbulence, in a period characterized by the erosion of the international rule of law and economic fragmentation, and amidst accelerating climate risk. The CVF V20 has long maintained a basic call: the fate of the world's most vulnerable will be the fate of the world. It is this core understanding that informs our engagement in forums such as this. We must ensure that our leaders hear, understand, and act on this call. In their communiqué of 14 April, 2026, our ministers highlighted the role that planetary instability has played in undermining prosperity, social stability, and security across the global economy. They noted that amidst such challenges, developing and low-income countries remain underrepresented in global financial decision-making. It is imperative that the international financial architecture be formed to tackle these challenges that the Financing for Development agenda seeks to address. Mr. Chairman, we gathered in Seville, Spain last summer and agreed on the Compromiso de Sevilla. Despite its limitations, the Compromiso and the Sevilla Platform for Action are a testament to our continued commitment to tackle global problems through robust multilateralism. There is much work to be done to advance the principles we have agreed and to implement the initiatives. The challenges faced by climate-vulnerable economies are distinct from those faced by other countries. The climate crisis is a driver of structural and systemic macroeconomic and financial instability. In their Leaders' Declaration of September 24th, 2025, our heads of state and government noted, in particular, the balance of payment challenges faced by our countries as a result of more frequent and more extreme climate shocks. Such catastrophic events undermine the stability of climate-vulnerable economies through the erosion of financial reserves, the amplification of currency volatility, and delayed recovery from exogenous shocks. The CVF V20 has long noted that the climate crisis is likely to push the international system towards greater instability. We have underscored the fact that the greatest burden arising from such instability is borne by countries least responsible for global emissions. This dynamic has the potential to exacerbate climate injustices by deepening poverty and inequality. The Global Financial Safety Net, GFSN, The Global Financial Stability Mechanism, which is meant to serve as a buffer against crises, is characterized by gaps that leave climate-vulnerable economies exposed at the very moments when stability is most urgently needed. We call for the reform of the GFSM. CBF V20 member countries continue to face a 1.174% higher cost of debt, producing US$62 billion in excess interest, despite evidence that actual default rates in low- and middle-income countries of 4 to 6% are far below rating-implied risks of up to approximately 14%. We underscore that debt must be structured at the right volume, the right time, and the right cost to support medium- and long-term investment, rather than forcing short-term stabilization at the expense of future resilience. We must also act quickly to operationalize the commitment in Sevilla to initiate an intergovernmental process on debt under the auspices of the United Nations. In addition, it is imperative that concessional finance be scaled and the global financial system realigned to deliver long-term capital at the right cost. In this connection, development finance Institutions and multilateral development banks must shift from being lenders of last resort to being catalysts of transformation, and debt must become growth-generating. To mobilize and deliver the trillions of dollars that are needed to underwrite progress on the SDGs, greater coordination is needed among institutions. In closing, Mr. Chairman, we call on all to work closely with us to address preconditions for a more responsive and fit-for-purpose global financial system. I thank you.

I thank you, Barbados. We have just heard the last speaker in this general debate for this meeting. The forum will continue to hear speakers in the general debate tomorrow, Thursday, at 3 PM sharp. But, but the exercise of the right of reply has been requested by 2 delegations in accordance with Rule 45 of the Rules of Procedure of the functional commissions of the ECOSOC. I would like to remind delegations that the number of intervention in the exercise of the right of reply for any delegation at a given meeting should be limited to 2.

Thank you.

per item. The first intervention should be limited to 5 minutes and the second to 3 minutes. I give the floor to the representative of Thailand. You have the floor, sir.

Thank you, Mr. President.

Thank you, Mr. President.

You're welcome.

I am exercising the right of reply to the statement made by the delegation of Cambodia. Thailand has long championed sustainable development at home and with our neighbors, friends, and partners throughout the world. I trust that our track record speaks for itself. Our longstanding engagement with Cambodia in this area is a case in point. Thailand supported peacebuilding, nation-building, and development in Cambodia since its independence in 1953 through its civil war in the '70s and the '80s when Thailand, you may recall, play host to hundreds of thousands of Cambodians fleeing the conflict at any given time and above a million displaced persons in total over the course of the crisis. Through the Paris Peace Agreements of 1991 and its membership of ASEAN in 1999, helping to reintegrate Cambodia into the international community, and world economy. And since COVID-19, we have provided technical assistance of over $17 million to Cambodia in the form of development assistance projects and scholarships. It is therefore deeply regrettable that all these efforts have produced a negative rate of return to the mutually beneficial relations we nourished over the years. In July and December 2025, you may recall that Cambodia initiated unprovoked and indiscriminate armed attacks on Thai territory. These attacks claimed 19 civilian lives, injured 51 others, displaced over 400,000 people and affected more than 400 hospitals. Thailand was indeed obliged to exercise our right of self-defense in accordance with Article 51 of the UN Charter. Mr. President, conflict is Disrupts development, and misinformation undermines trust. Sadly, it is the people on the ground who pay the price. Take the issue of landmines. Cambodia has suffered gravely from landmines and has received robust ODA to clear them, yet it continues to indiscriminately deploy them against innocent civilians, unplanned ones. And as a result, these border areas where people of both sides could have been engaging in economic activities and development have now become contaminated with landmines. Take also the issue of illicit financial flows. It is well documented that Cambodia hosts a number of online scam syndicates. With estimated annual revenues as high as $19 billion, or equivalent to nearly 40% of the country's GDP. This has caused financial losses for victims across the globe, not to mention tens of thousands of forced laborers and victims of human trafficking. And this is money Lost to crime at the cost of development. Mr. President, it is in Thailand's interest to see the Cambodian people prosper and for there to be sustainable peace and development along our shared border. Thailand calls on Cambodia to cease dissemination of inaccurate information and demonstrate good faith and genuine readiness, sincerity in walking this path with Thailand. Thank you.

I thank the representative of Thailand. I now give the floor to the Islamic Republic of Iran. You have the floor, sir.

Bismillahirrahmanirrahim. Many thanks, Mr. President, for the floor. Mr. President, thank you for giving me the floor. My delegation takes the floor to exercise its right of reply to the remarks of distinguished delegates of Bahrain with a view to placing on record clarification of a factual and legal nature of latest development in West Asia. The Islamic Republic of Iran, a country that has been subjected to acts of aggression twice, twice within a span of 9 months, is the best place to speak to the devastating and multifaceted impact of conflict and aggression. As understood, the persistence of such acts, particularly against developing countries, has major consequences and remains a major obstacle to achieving Sustainable Development Goals and mobilizing financing for development. These acts not only take a profound human toll, claiming the lives of innocent civilians, especially children, and women, but also caused widespread destruction of critical infrastructure with severe and long-lasting economic, social, environmental, and humanitarian consequences. Mr. President, in this context, since the beginning of the war of aggression against Iran, the aggressors have also used the territory and and facilities of certain third states in the region to launch unlawful military attacks. Under the fundamental principles of international law, states are prohibited from knowing, allowing their territory to be used directly or indirectly to cause damage to other states. In addition, UN General Assembly Resolution 3314 of 14 December 1974, Article 3 has clearly categorized and recognized that the action of state in allowing its territory which it has placed at the disposal of another state to be used by that state for perpetrating an act of aggression against a third state as an act of aggression. We recall that the territory of a state should not in any manner be placed at the disposal of other states for the perpetration of aggression against third states. Regrettably, this has occurred in our case through the actions of our neighbors in the Persian Gulf. Such conduct constitutes a clear violation of fundamental principles of international law, undermines regional stability, erodes trust among countries, and diverts scarce finance resources away from sustainable development priorities, thereby further constrains affected countries in their pursuit of recovery and long-term development. Mr. President, one of the recurring concerns raised in financing for development discussions, including in this forum, related to the growing shift of limited development resources toward war-related expenditures. The continuation of imposed conflict created an irreversible environment of insecurity that inevitably compels countries to expand defense, expanding at the expense of developing priorities. In recent years, within this very hall, we have consistently called for cooperation instead of confrontation, multilateralism instead of unilateralism, and solidarity instead of division. Today, these principles must be reaffirmed with great— greater urgency. We must choose development over destruction, dialogue over escalation, prevention over reaction, and trust over coercion, strengthening a law-based international system grounded in full respect for the purposes of international— for the purposes and principles of Charter of the United Nations remain essential to reversing these trends and restoring a path towards sustainable development. I thank you.

I thank the representative of the Islamic Republic of Iran, and I now give the floor to the representative of Bahrain.

Mr. President, we've asked for the floor again on behalf of the GCC, the Gulf Cooperation Council.

This is to respond to the statement by the delegate of the Islamic Republic of Iran, who provided completely baseless assertions in a clear attempt to distort reality.

As I mentioned in our declaration, the attacks launched by the Islamic Republic of Iran targeted states that were not parties to the conflict.

Our countries reaffirmed repeatedly that they were not a party Thank you.

We are neutral to the conflict. But despite that fact, our countries were targeted, and we completely reject this. These are illegal attacks. They're not only illegal, but they're systematic, too, because they are targeting civilian infrastructure—

airports and energy sites and residential areas.

This practice cannot be justified in any way. There can be no justification for it under international law, and these actions run counter to the Geneva Conventions.

What's more, this is a violation of the provisions of the Charter of the United Nations, and it violates international law. Furthermore, these attacks. attacks against civilian objects. In closing, the GCC will not cease underscoring its unwavering commitment to international law and stability in the region with a view to avoiding any escalation. I thank you.

Thank the representative of Bahrain for his statement on behalf of the GCC.

Our forum has concluded its work for this afternoon. We will reconvene tomorrow at 10:00 AM sharp. In this room to continue our program of work. I wish to thank the interpreters. We owe you 12 minutes. Thank you and good evening. The meeting is adjourned.