Second Committee, 8th plenary meeting - General Assembly, 81st session
General Assembly
Date: 8 October 2026
Language: English
Transcript: https://transcripts.un.org/en/ga/c2/81/8
Transcripts available through this tool are created by using automatic speech recognition and are not official records nor official documents of the United Nations. Official records and official documents are available on the Official Document System of the United Nations.

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2nd Committee · Chair [19:43]:

Good afternoon, colleagues. The 8th meeting of the Second Committee is called to order. I now invite the Committee to continue its joint consideration of agenda item 15, Macroeconomic Policy Questions, and its sub-items A to G, together with agenda item 16, Follow-up to and Implementation of the Outcomes of the International Conferences on Financing for Development. Before giving the floor to the first speaker for this afternoon, I wish to remind delegations that the agreed time limits for statements during the joint consideration of agenda items are five minutes for statements made on behalf of groups of states and three minutes for national statements, and three minutes for statements made by intergovernmental organizations and the United Nations system. I intend to implement these time limits strictly, including by means of an automatic microphone cut-off. To assist speakers in time management, a countdown clock will be projected on the screens in the meeting room. It will start blinking red to indicate that the speaker has one minute left to conclude the statements. Delegations are asked to submit longer versions of their statements by email to e-statements@un.org. I thank you in advance for your cooperation in following these guidelines. I now give the floor to China. You have the floor.


China [21:25]:

Thank you, Chair. Colleagues, good afternoon. China aligns itself with a statement made by Uruguay on behalf of G77 and China. Currently, the global financing gap for development continues to widen and implementation of the 2030 agenda is behind time. The global economic governance deficit is worsening. The international community should strengthen solidarity and cooperation to bridge the financing gap and advance international development cooperation. First, better global economic governance. It is essential to vigorously advance governance reforms in the World Bank and other multilateral institutions and make meaningful quota share adjustments for the IMF without delay to better reflect the new realities of the global economic landscape. Also imperative is closer dialogue between the UN and emerging financial institutions, such as the New Development Bank and the Asian Infrastructure Investment Bank, to amplify the voice and demands of the Global South. Second, pooling development resources. This means focusing on key areas, such as poverty reduction, food security, and energy transition, where greater resource input is needed. Developed countries should honor their ODA commitments and climate financing obligations, while IFIs should expand long-term concessional financing to developing countries. China supports the World Bank and the Asian Development Bank in establishing new capital adequacy frameworks to mobilize more funds to help developing countries address poverty reduction, development, and other global challenges. Third, a more open world economy. This requires us to unequivocally oppose unilateralism and protectionism, firmly safeguard the multilateral trading system with the WTO at its core, and promote an inclusive economic globalization. This also means fully leveraging AI to help reduce trade costs and promote digital trade, helping developing countries better participate in global value chains. and leveling up trade and investment liberalization and facilitation worldwide. Chair, China has created two miracles, blazing fast economic growth and long-term social stability, and China's contribution to global economic growth has long remained at around 30%. Over the past five years, since China launched the Global Development Initiative, over 23 billion U.S. dollars has been mobilized to fund more than 2,000 cooperation projects and tens of thousands of training programs, empowering the modernization of the Global South. China remains committed to advocating and acting on the ground to promote global development. Together, we can turn the vision of prosperity into reality. I thank you, Chair.


2nd Committee · Chair [24:17]:

I thank the delegation of China. I now give the floor to the distinguished delegation of Sri Lanka.


Sri Lanka [24:26]:

Thank you, Chair. Chair, Excellencies, distinguished delegates. My delegation aligns itself with the statement made by Uruguay on behalf of the G77 and China, and makes the following points in our national capacity. Sri Lanka welcomes the follow-up and review of the Financing for Development Outcomes. As we operationalize the Cevier commitment, Sri Lanka urges concrete action. After a severe economic crisis in 2022, Sri Lanka embarked on a path of recovery and growth. We are cautiously optimistic about our trajectory, and we are committed to necessary reforms. Sri Lanka undertook difficult but necessary reforms, including reducing subsidies, addressing tax evasion, and improving governance to stabilize public finances and create space for growth. However, broad adjustments in the international financial system are required for those gains to be sustained. Chair, middle-income countries face unique financing challenges. Our debt restructuring revealed systemic gaps and a lack of frameworks for middle-income countries facing debt burdens. We welcome efforts to expand local currency lending by MDBs, yet more actions need to be taken. Sri Lanka has developed a medium-term debt management strategy. This provides a structured roadmap for managing public debt sustainability, balancing cost and risk, while meeting the government's financing needs and supporting fiscal stability. Sri Lanka is committed to revenue-based fiscal consolidation, the development of the domestic debt market, implementing liability management operations and enhancing investor confidence, Chair. We are taking concrete steps to bring public debt down to a share of GDP, with further reductions expected in the coming years. Amidst these challenges, we have continued our investments in SDG priorities in education, health and climate resilience. As Sri Lanka navigates innovative financing, we also highlight the growing importance of climate resilient debt instruments, including state contingent clauses. For climate vulnerable countries, these instruments can provide critical fiscal space in times of crisis. It is imperative to address the shortcomings in the current international financial architecture, which prioritizes short-term debt sustainability over long-term development goals. We need the MDBs to increase lending capacity, expand local currency financing, and improve development finances access for middle-income countries. The CBI commitment underscored the importance and relevance of a fair and inclusive international


2nd Committee · Chair [27:28]:

I thank the delegation of Sri Lanka. I now give the floor to the distinguished delegation of Venezuela.


Venezuela (Bolivarian Republic of) [27:37]:

Thank you, Mr. Chairman. The Bolivarian Republic of Venezuela aligns itself with the statement made by the Oriental Republic of Uruguay on behalf of G77 and China. The successive global crises we faced in recent years have tested the ability of states to forge ahead with the implementation of Agenda 2030. Developing countries have weathered complex challenges in a context marked by economic uncertainty, as well as geopolitical tensions and growing social need. In view of this reality, we reaffirm the need to strengthen international cooperation and to promote collective solutions which make it possible to build prosperous, inclusive and sustainable future for all. We reiterate the importance of continuing to champion an international financial architecture which is more inclusive and representative, one which broadens development opportunities for all countries. Moreover, we are of the view that it is pivotal to strengthen South-South, North-South and triangular cooperation, as well as to promote the effective mobilization of resources, including official development assistance. assistance in line with national priorities of each and every state. We recognize the progress made with the implementation of the severe commitment and initiatives designed to bolster the participation of member states in the quest for innovative solutions to financing for development. These endeavors demonstrate that multilateralism continues to be a crucial tool to meet global challenges. Venezuela believes also that that an international trade system which is just and balanced is a crucial component for the promotion of economic growth, as well as productive diversification and the creation of opportunities for our peoples. Likewise, it is equally important to continue to champion mechanisms which strengthen economic resilience among developing countries and which contribute to create the necessary conditions for sustainable and inclusive growth. Today, Venezuela is moving towards a new era marked by hope, work and cooperation. As the President of the Republic, Delsy Rodriguez, has stated, ours is a time of national rebirth rooted in economic recovery, the strengthening of our productive capacities and our determination to continue developing the well-being of our people and opportunities for them. This process reaffirms our conviction that sustainable development is achieved through solid national policies as well as effective international cooperation and a staunch commitment to current and future generations. To conclude, Venezuela reiterates its commitment to the defense of the United Nations Charter. I thank you.


2nd Committee · Chair [30:35]:

I thank the delegation of Venezuela. I now give the floor to the distinguished delegation of Ethiopia.


Ethiopia [30:49]:

Thank you, Chair. Ethiopia aligns itself with the statement delivered by G77 in China, the African group, and would like to highlight the following in our national capacity. The report on external debt sustainability and development delivers a sobering assessment. External financing remains too volatile, too scarce, and too costly to support the development agendas of developing countries. Forced to choose between investing in development and servicing mounting debt amid rising borrowing costs, countries face perilous consequences, including curtailed spending on health, education, infrastructure, a widening gap in progress toward the SDGs. Yet this moment also holds an opportunity. The restructuring done early, transparently, and with the participation of all creditors can do more than restore fiscal capacity. It offers a window to redirect resources toward the investment that drive sustainable growth. Ethiopia's economy has registered high growth over the last five years, which is projected to continue in the coming years. Real GDP has grown above 7% each year, with inflation declining meaningfully. Though significant challenges remain, the macroeconomy and financial system has demonstrated resilience. Mr. Chair, subjective and biased credit assessments are estimated to impose around 75 billion USD a year in additional financing costs on African economies. The implications are clear. Credit ratings influence borrowing costs, investor confidence, and access to international capital markets. Against this backdrop, Ethiopia welcomes the launch of the African Credit Rating Agency as an important step towards challenging entrenched perceptions and narratives that have contributed to an unfair risk premium on African economies. This initiative advances the ambitions of the African Union's Agenda 2063 and the commitments made in Seville. As I conclude, slow progress is no longer enough. Long-term prosperity requires decisive leadership, strategic clarity, and sustained policy discipline, backed by rigorous implementation that translates commitment into tangible results. I thank you, Chair.


2nd Committee · Chair [33:17]:

I thank the delegation of Ethiopia. I now give the floor to the distinguished delegation of Portugal.


Portugal [33:26]:

Thank you, Chair. The reports before us testify to a simple reality. Financing turns development commitments into concrete results. The Seville commitment gave us an ambitious framework. Our priority is now its implementation. Portugal welcomes the initiatives advancing this agenda, including the Seville Platform for Action. Let me then highlight three points. First, connecting global commitments with national action. The network of national focal points on financing for development can strengthen national coordination, support peer learning, and bring countries' practical experience into global discussions. These exchanges should inform the 2027 Financing for Development Forum and help countries translate Seville into national policies. Second, ensuring that financing supports investment in sustainable development based on data. We welcome progress. on the Borrowers' Platform and the Working Group on Responsible Sovereign Borrowing and Lending. These efforts should strengthen borrowers' voices and help protect fiscal space for health, education, and resilience. At a time of declining global ODA, preserving concessional finance and country-owned partnerships is essential. Earlier this year, alongside the OECD and the UN Office for South-South Cooperation, we launched a call to action on triangular cooperation data, evidence, and visibility. These contributions will serve as a basis for discussion in October in Lisbon at the 10th International Meeting on Triangular Cooperation, which will be focused on effective impact. Third and final point, ensuring that financing better reflects our vulnerabilities. Income per capita alone cannot capture countries' exposure to shocks. The multidimensional vulnerability index should complement existing criteria and inform more responsive development cooperation and financing decisions. Portugal endorsed the 4P roadmap at Seville to better integrate multidimensional vulnerability into development finance. Together with Antigua and Barbuda, UNDESA, and DOHRLS, we have also promoted practical discussions on operationalizing the MVI. Mr. Chair, the test of Seville will be whether these initiatives improve financing decisions and deliver results. Portugal stands ready to work with all partners to turn peer learning into better policies, to turn vulnerability assessments into better support, and finally, to turn commitments into lasting progress towards the 2030 agenda. I thank you, Chair.


2nd Committee · Chair [36:06]:

I thank the delegation of Portugal. I now give the floor to the distinguished Permanent Representative of Myanmar. Ambassador, you have the floor.


Myanmar · Permanent Representative [36:16]:

Mr. Chair, Myanmar aligns itself with the statement of ASEAN, ADB Group and the G77 China, respectively, and thank the Secretary-General for his report under this agenda item. The civil commitment adopted at the FfD4 last year renewed the global framework for financing for development. Mr. Chair, the FFD agenda balances actions at the domestic and international level. The primary role of the member states in steering our own development and the responsible role of the international community in creating and enabling economic environment. Unfortunately, in my country, Myanmar, the illegal military coup, followed by the military's atrocities, rampant corruption, and the breakdown of the rule of law, has reversed our progress in the FFD agenda and its actions areas. Since the coup, the domestic public resources are mobilized by the military and its affiliates to save their narrow self-interest. Private business are corrupted by the military and their cronies to enrich themselves. Under the pretext of international development cooperation, deeply unpopular infrastructure projects are forced upon the local populations by the military to benefit their closest allies. International trade is exploited by the military hunter to manipulate foreign interest reserves, which are subsequently diverted to procure weapons deployed against civilians. since the science technology innovations is weaponized by the military to impose digital dictatorship and invasive civilians on civilians, people joining the CDM and the resistance movement. As a result, the GDP has contracted, inflation rose to 30% last year, foreign direct investment has dropped by 74%, microfinance institutions and operations are declining Financial sector reform has stagnated. Transnational organized crime, including online scam, drug and human trafficking, continue to expand from Myanmar to our neighboring countries. Mr. Chair, effective implementations of the Civil Law Commitment and the 2030 Agenda require a conducive condition to peace and stability. It is crystal clear that military under their indiscriminate violence against civilians and disregard for the rule of law remain the biggest obstacle to achieving sustainable peace. and that's undermining our financing potentials and development prospects. Therefore, I ask the international community to support the people of Myanmar in their efforts to end the military dictatorship and build a federal democratic union that can pave the way for peace, stability, and the full implementations of the FFD agenda in Myanmar. And thank you, Mr. Chair.


2nd Committee · Chair [39:13]:

I thank the distinguished permanent representative of Myanmar. I now give the floor to the distinguished delegation of Cameroon.


Cameroon [39:23]:

Thank you, Mr. Chairman. Cameroon aligns itself with the statements of the African Group and the Group of 77 and China. My delegation would like to underscore that macroeconomic policy beyond the stability of aggregates is measured by the capacity of the state to finance, inter alia, education, health, infrastructure, employment, and productive transformation. My delegation thus wishes to express its deep concern. This is due to the fact that the countries that have the most need of capital for financing for development are precisely those who pay the highest price for it. We are forced to pay a triple penalty on costs, access, and the direction of financing. On international trade, Cameroon reiterates its commitment to an open, predictable, and non-discriminatory multilateral system under the auspices of the WTO. The 14th Ministerial Conference of the WTO was held in Yaounde. It drove home that trade cannot be an engine for development if it jeopardizes food security or restricts Africa to exporting raw materials. In this regard, my delegation thinks that the African Continental Free Trade Agreement can accelerate the development of regional value chains, industrialization, and local processing. On financing, we call for an architecture that is more representative and inclusive, and we want to see more concessional resources. We want to see the reassignment of SDRs, special drawing rights, and credit rating methodologies that accurately reflect the economic realities and long-term prospects. In a context where Debt servicing hamstrings financing for development. We sound an appeal for rapid and fair restructuring, bringing on board all types of creditors. The mobilization of domestic resources requires stemming illicit financial flows and accelerating restitution of assets. And it also means building under the UN a universal, effective, and inclusive tax cooperation. In accordance with our national development strategy, Cameroon advocates for financing a transformation, financing that fuels agricultural, energy, infrastructure, and small and medium enterprises, the digital and creative economy, and allows young people and women to create value. In this regard, the civil commitment needs to be coupled with adequate financing and measurable results at the country level. Indeed, our responsibility should not be to make more promises, but to do a better, quicker job of implementing with justice and fairness. Thank you.


2nd Committee · Chair [42:20]:

I thank the delegation of Cameroon. I now give the floor to the distinguished delegation of Nepal.


Nepal [42:29]:

Thank you, Mr. Chair. Nepal aligns itself with the statements delivered on behalf of the G77 and China and LDC group. The global Macroeconomic outlook remains constrained by geopolitical tensions, limited growth, trade and supply chain disruptions, persistent debt vulnerabilities, declining ODA, and widening financing gaps. These interconnected challenges are constraining fiscal space, weakening investment, and jeopardizing progress towards the 2030 agenda. For Nepal, the macroeconomic fundamentals demonstrate resilience despite persistent structural challenges. Inflation has moderated, foreign exchange reserves remain robust, remittance inflows continue to strengthen external stability, and the current account remains in surplus. Public debt remains at a relatively manageable level, while hydropower expansion and exports offer promising opportunities for economic transformation. Yet, economic growth remains modest, private investment subdued, productive capacity is limited, and trade deficits persistent. Low capital expenditure, limited job creation, and exposure to external shocks, including climate change, continue to constrain our development trajectory. The recent devastating climate-induced floods have further compounded these vulnerabilities, with recovery and reconstruction needs exceeding USD 5 billion. Mr. Chair, against this backdrop, I wish to underscore five priorities. First, we must translate this heavy commitment into concrete financing outcomes. We need a scale-up, predictable and affordable development finance, grant-based and consistent resources, fulfillment of ODA commitments, improved access to international liquidity, private investment in productive capacities and capacity building support. Second, reforming international finance architecture is indispensable. We call for a stronger representation of developing countries in global economic governance, lower borrowing cost, technology transfer and an equitable rule-based multilateral trading system with WTO at its core. Third, debt sustainability must remain central to development financing. We urge timely debt restructuring, expanded debt for development and climate swaps, wider application of climate-resilient debt clauses to protect fiscal space against external shocks. We welcome the establishment of the Borrowers' Platform and underscore a more effective, predictable and equitable international debt architecture. Fourth, climate finance must become predictable, accessible and responsive to continuities. We underscore the importance of a scaled up, grant-based adaptation finance, adequately resourced loss and damage fund, and rapid financing mechanism that enable countries to prepare, respond, and recover without accumulating unsustainable debt. Fifth, structural transformation and domestic resource mobilization must be supported by robust international cooperation. We call for international tax cooperation, concerted action against illicit financial flows, technical innovation, and extended South-South cooperation. Thank you, Mr. Chair.


2nd Committee · Chair [45:24]:

I thank the delegation of Nepal. I now give the floor to the distinguished Permanent Representative of Nigeria. Ambassador, you have the floor.


Nigeria · Permanent Representative [45:33]:

Thank you, Mr. Chair. Nigeria aligns itself with the statements delivered by Uruguay on behalf of the Group of 77 and China, as well as Namibia on behalf of the African Group. Nigeria recognizes the nexus between sound macroeconomic policies critical for resource mobilization and the actualization of the SDGs. With only three years to the 2030 deadline, international community must urgently intensify efforts to address the persistent financing gaps to make appreciable progress. This is more important for many developing countries, which require financing to implement their commitments to the 2030 agenda, as well as to Africa's agenda 2063 in some cases. Nigeria observes that the rise in interest rates in developed economies has negative implications for access to affordable credit by developing countries, thereby complicating debt management and affecting capital flows and exchange rates. Higher borrowing costs hamper efforts towards sustainable development. In addition, terrorism, conflicts, geopolitical tensions, the effects of climate change, biodiversity, loss of continuous malnutrition cause high inflation rates and cause many more millions into poverty. Against this backdrop, we note the urgency to deepen collaboration and partnerships to address challenges that widen financing gaps and impede development. In this context, Nigeria is fully committed to implementing the Seville Commitment, which has provided a roadmap for overcoming persistent financing gaps and supports broader reform of the international financial architecture. To build sustainably and ensure that no one is left behind in the implementation of the SDGs, it's imperative that we take decisive, concrete measures to address the plight of Africa, which continues to be beset by conflict and insecurity in many parts. In our region, terrorism, insurgency, and the effects of climate change are some of the factors that undermine the resilience of African societies and the prospect of peace and development on the continent. Domestic reforms alone are insufficient in our interconnected global economy. International tax cooperation is indispensable for nations to mobilize resources for development. Nigeria applauds the collective efforts in the ongoing negotiations towards achieving the United Nations Framework Convention on International Tax Cooperation. We urge member states to continue to engage in the process in a constructive and result-oriented manner with a view to elaborating an effective and broadly acceptable text before the 2027 deadline. I thank you.


2nd Committee · Chair [48:29]:

I thank the distinguished permanent representative of Nigeria. I now give the floor to the distinguished delegation of Azerbaijan.


Azerbaijan [48:39]:

Mr. Chair, the global trading environment is facing growing pressures from geopolitical tensions, disruptions to global supply chains, and increasing economic fragmentation. These developments create greater uncertainty, particularly for developing countries that remain more vulnerable to external shocks and face structural constraints in accessing international markets. In this regard, the Secretary General's report on international trade and development underscores the need to strengthen trust, predictability, and fairness in the global trading system and to ensure that international trade contributes more effectively to sustainable development. In recent years, Azerbaijan has maintained macroeconomic stability, strengthened social protection, expanded digital public services, modernized transport and energy infrastructure, and accelerated investments in renewable energy. In less than two decades, Azerbaijan's GDP has increased treble, while the poverty rate has declined from 49% to around 5%. At the same time, Azerbaijan maintains one of the lowest levels of public external debt globally. Mr. Chair, an open, non-discriminatory, fair, equitable, transparent, and inclusive multilateral trading system must be complemented by stronger connectivity, regional integration, and trade facilitation to reduce trade costs and expand market access. Azerbaijan's experience demonstrates the potential of connectivity in facilitating trade and supporting economic development. Located at the crossroads of Europe and Asia, Azerbaijan has invested heavily in modern multimodal transport infrastructure and strengthened cooperation with regional partners, contributing to its development as a key transport and logistics hub. The Trans-Caspian International Transport Corridor, known as the Middle Corridor, is an important part of these efforts. Since 2022, cargo volumes along the corridor have increased by almost 90%, strategic infrastructures such as the Baku International Sea Trade Port and the Baku-Tbilisi-Kars Railway are strengthening trade links between Asia and Europe and contributing to more resilient and diversified supply chains. Together with international partners, Azerbaijan is spearheading the ambitious Digital Silkway project, an advanced fiber optic cable network under the Caspian Sea that will connect Asia and Europe through a secure and resilient digital network. At the same time, the Trump Road for International Peace and Prosperity is expected to facilitate an impeded multimodal connectivity between the main part of Azerbaijan and its Nakhchivan Autonomous Republic and unlock new opportunities for regional trade, economic integration, and prosperity as part of the Zengezur Corridor. Mr. Chair, we recognize the importance of adequate and affordable financing for trade-related infrastructure and productive capacity in developing countries. We remain committed to working with member states and international partners to advance an open, inclusive, and predictable trading system. Thank you.


2nd Committee · Chair [51:38]:

I thank the delegation of Azerbaijan. I now give the floor to the distinguished delegation of Cote d'Ivoire.


Côte d’Ivoire [51:46]:

Thank you, Mr. Chairman. My delegation aligns itself with the statements made by G77 and China and the African group. In our national capacity, we wish to make the following contributions. My delegation takes note of the Secretary-General's report and documents submitted Under this agenda item, macroeconomic policy issues, these documents lay bare the combined effects of commercial uncertainty, the high costs of financing, and the constraints of debt, and the constraints they place on development prospects for African economies. These pressures reduce the resources available for productive transformation and social services. Macroeconomic stability must make it possible to preserve this investment that is crucial for the achievement of the SDGs. In terms of financing for development, more specifically, my delegation takes note of the Secretary-General's report on the follow-up to and implementation of the outcome documents of international conferences, as well as of the relevant recommendations contained therein. Ladies and gentlemen, Building on the Monterrey Consensus, the Doha Declaration, the Addis Ababa Programme of Action, the Ceville commitment is now called upon to prove its ability to produce tangible results. In this connection, the report submitted for our consideration points to the fact that progress has been made. However, it underscores continuing difficulties, namely the reduction seen in concessional financing and delays in reforms to the international financial architecture. The 23.1% reduction to ODA in 2025, as underscored by the report, must prompt urgent mobilization of resources to preserve investments that are crucial for the most vulnerable countries among us, particularly in Africa. Chair, Cote d'Ivoire intends to translate these severe commitments into its national priorities. Its national development plan for 2026 to 2030 intends to raise the country to the upper middle income country group. In this connection, my delegation proposes three priorities: first, we must bolster resources to finance national priorities. We must also make financing more accessible, affordable and quickly available. And finally, we must better coordinate and monitor the implementation of commitments made. In this connection, the network of national focal points referred to in paragraph 57 is relevant. I thank you.


2nd Committee · Chair [54:47]:

I thank the delegation of Côte d'Ivoire. I now give the floor to the distinguished delegation of Bangladesh.


Bangladesh [54:56]:

Thank you, Chair. Bangladesh aligns itself with the statements by G77 and China and the LDC group. We support an open, rules-based and non-discriminatory international trading system with the WTO at its core. Continued market access and support for productive capacities are essential for LDCs and graduating LDCs like ours. We call for a more equitable and representative international financial architecture, including quota and governance reforms in Bretton Woods institutions. Greater for developing countries and prompt access to financing at the time of need. MDBs must expand affordable financing and avoid stringent one-size-fits-for-all conditionalities that undermine national development priorities. UNCTAD reports that 3.7 billion people live in countries spending more on debt interest than on health or education. High borrowing costs, often aggravated by inaccurate credit ratings, remain a serious concern. We welcome CBI's commitments implemented so far, including the commencement of the Borrowers Platform. Mr. Chair, Bangladesh is reforming its revenue administration, aiming to raise the tax to GDP ratio to 15% by 2035. Our government prioritizes combating illicit financial flows and ensuring recovery and return of stolen assets. We call for stronger international cooperation and the establishment of a multilateral mediation mechanism on asset recovery. We support the ongoing negotiations toward a UN tax convention to strengthen domestic resource mobilization, curb illicit financial flows and expand fiscal space for development. FDI must reach countries where it is most needed. We seek greater public and private investments in productive sectors, sustainable infrastructure, digital transformation, climate resilience, and human capital, supported by an enabling international environment. We echo Cevier's call for investment facilitation, guarantee, and project preparation support for the LDCs. Mr. Chair, FFD4 stands as a landmark achievement of multilateralism in recent years. With effective implementation, its outcome has the potential be a powerful enabler in advancing the 2030 agenda and the DPOA. Let us make Cevier a turning point, a chance to renew confidence in our collective resolve to deliver on our commitments. After all, multilateralism remains our best hope for a fairer and more sustainable future. I thank you.


2nd Committee · Chair [57:21]:

I thank the delegation of Bangladesh and now give the floor to the distinguished delegation of Zimbabwe.


Zimbabwe [57:30]:

Thank you, Chair. Zimbabwe shares the Secretary General's concern over a weakening multilateral trading system impacted by unilateral measures as well as rising trade costs, which are disproportionately affecting developing countries. We call for a renewed commitment to a universal, non-discriminatory trading system with the WTO at its core. The 80% growth of South-South trade demonstrates where significant opportunity now lies. Developing countries have become key markets, sources of investment, and engines of global growth. We must therefore harness this momentum by strengthening intra- and inter-regional trade, boosting productive capacities, and building value chains that retain greater value within developing countries. We are concerned with the statistics on external debt. Sub-Saharan African governments are spending almost 16% of revenue servicing public debt. nearly double the rate paid by other developing countries. Since 2015, debt servicing has grown by 81%, far outpacing the 65% growth in debt stocks. We reiterate the call for concrete steps to be taken towards moving forward the intergovernmental process on the debt architecture mandated by the Seville Commitment. Zimbabwe reiterates its support for the ongoing negotiations on the UN Framework Convention on International Tax Cooperation and its early protocols. The existing international tax architecture was built without the input of developing countries and continues to cost the African continent, in particular, billions annually in illicit financial flows and profit shifting. The framework convention is the only credible path to tax rules that incorporate the interests of all countries. Additionally, we note that 2025 witnessed the sharpest annual drop in ODA on record, at a time when developing countries are already confronting widening SDG financing gaps. We add our voice to the call for development partners to honor long-standing commitments and to ensure that concessional resources are directed towards countries with the greatest need. At the same time, we must accelerate the implementation of the Civil Commitment and advance broader reforms of the international financial architecture to expand access to affordable, predictable, and long-term development finance. I thank you.


2nd Committee · Chair [1:00:05]:

I thank the delegation of Zimbabwe. I now give the floor to the distinguished delegation of the Russian Federation.


Russian Federation [1:00:13]:

Mr. Chair, the Russian Federation aligns itself with the joint statement delivered on behalf of the group of friends, on behalf of the group of like-minded countries. In a national capacity, we would like to say the following. The global economy is facing a slowdown in growth rates. There's increasing fragmentation and an increase in debt burdens. All of this is narrowing the abilities of the countries of the Global South. We advocate for reestablishing an open, non-discriminatory, and rules-based multilateral trade system with the WTO as its basis. Without full-fledged operation of the WTO dispute settlement mechanism, it will be impossible to ensure predictable trade rules. Given the fragmentation of the global economy, what is playing an ever more significant role in resolving global issues is regional intergovernmental formations. That includes the Eurasian Economic Union, BRICS, the SCO, and ASEAN. are against the use of trade as a tool for political pressure and for establishing discriminatory barriers, which lead to increased expenses, primarily for developing countries. The Russian Federation calls for continuing the reform of the international financial architecture, for increasing the representation of developing countries in international financial institutions. We want to ensure they can access long-term, affordable, and predictable financing. An important role is played by multilateral development banks. However, there's a need to leverage other sources of investment. That includes private capital. We're particularly concerned by the drop in the amount of one quarter in 2025 of the official development aid. Access to financing issues go hand in hand with debt sustainability. Today's rise in external debt servicing costs curtail the ability of states of the global south to engage in financing development programs. There's a need to increase the efficiency of existing international mechanisms for warning and for resolving debt problems. In that regard, we would like to recall Russia's reservations that it still has about a number of the provisions of the Seville Commitment. particular significance is strengthening national capacity in terms of mobilization and the efficient use of domestic resources. Russia is part of developing the UN Framework Convention on International Tax Cooperation. We trust that it will yield balanced international tax rules. Mr. Chairman, in closing, we'd like to underscore that the Seville Commitment is already adopted, and now we need to focus on its practical implementation. This considering national priorities and the particular features of development of states. Thank you.


2nd Committee · Chair [1:03:11]:

I thank the delegation of the Russian Federation. I now give the floor to the distinguished delegation of Chile.


Chile [1:03:19]:

Thank you very much, Mr. Chairman. Chile aligns itself with the statement made by Uruguay on behalf of G77 and China. We wish to add the following comments in our national capacity. Fulfilling our sustainable development commitments demands that countries have the resources they need to drive growth, create employment and eradicate poverty. The Cevier commitment offers a common foundation to make progress in this endeavor. Now we must channel our efforts into its implementation in order to ensure that agreements reached produce better financing conditions and better and greater investment opportunities for developing nations. Against this backdrop, we are concerned by high financing costs and debt service. These can stymie public investment and crisis response. Promoting a sustainable management of debt and improving access to financing are crucial to preserve macroeconomic stability and allow countries to invest in their development priorities. Chair, For Chile, promoting investments which encourage growth and expand productive capacities is a priority. Robust institutions and clear and predictable regulatory frameworks serve to give certainty for long-term projects. On this basis, public investment and private capital can complement each other as ways to narrow infrastructure gaps and to bolster the connectivity of our economies. Critical minerals essential for the energy transition offer a opportunity to make progress in this direction. Their sustainable exploitation must go hand in hand with investments that make it possible to add value, develop local production and bolster technological capacity. We also seek to ensure that the demand for these resources contributes to productive diversification and that it generates lasting benefits for communities and the economies of producer countries. countries must be able to contribute to economies with greater added value. Tapping into these opportunities requires a trade system which makes investments predictable and fosters access to markets. As such, we reaffirm our commitment to a multilateral trading system which is open, transparent, inclusive and rule-based, with the World Trade Organization at its heart. Chair, Chile reaffirms its commitment to multilateralism as a crucial tool to broach these challenges. This severe commitment expresses our ability to achieve common agreements. It is now appropriate to translate this desire for cooperation into progress with implementation. Thank you.


2nd Committee · Chair [1:06:00]:

I thank the delegation of Chile. I now give the floor to the distinguished delegation of Micronesia.


Micronesia (Federated States of) [1:06:09]:

Mr. Chair, Micronesia aligns itself with the statements delivered by the Alliance of Small Island States. As a small island developing state, Micronesia remains committed to achieving the Sustainable Development Goals. However, progress is increasingly challenged by the impacts of climate change, economic shocks, geographic isolation, and limited access to affordable finances. For countries like ours, sustainable development cannot be accelerated without addressing the persistent financing gap. The current international financial architecture must better reflect the unique vulnerability of small island developing states. Traditional income-based criteria alone do not capture the realities we face, including climate risk, remoteness, and exposure to shocks. My country's efforts support efforts to reform international financial institutions and expand access to concessional and climate finance. Financing mechanisms must be accessible, predictable, and responsive to the needs of vulnerable countries. We also emphasize the importance of investing in climate resilience, renewable energy, food security, sustainable fisheries and ocean-based economies. For Pacific Island countries, the blue economy presents significant opportunities to advance sustainable development while protecting the marine resources upon which our communities depend. At the same time, international support must complement the national effort to strengthen governance, build local capacity, and promote sustainable economic growth. Mr. Chair, With only a few years remaining before 2030, the world must move from commitment to implementation. Accelerating progress on sustainable development goals requires stronger international cooperation, greater investment in vulnerable countries, and a development financing system that leaves no one behind. Micronesia stands ready to work with all partners to build a more inclusive, resilient, and sustainable future for all. I thank you.


2nd Committee · Chair [1:08:28]:

I thank the delegation of Micronesia and now give the floor to the distinguished delegation of Kenya.


Kenya [1:08:36]:

Thank you, Chair. Kenya aligns itself with the statement delivered by the group of G77 and China and the African group. The global economy remains deeply unequal. Developing countries face high borrowing costs, subdued growth, shrinking fiscal space, and declining development assistance. Kenya calls for accelerated implementation of the Sifira commitment. The international financial architecture must become more representative and responsible to developing countries. This requires stronger voice and representation, adequately capitalized multilateral development banks, expanded concession of financing, greater use of guarantees and local current financing, and further channeling of special drawing rights. Risk assessment must also address the disproportionate premium imposed on the African borrowers. Debt reform. must proceed with equal urgency. Kenya supports faster, predictable, and comprehensive restructuring improvement to the common framework and the wider use of debt service post-crauses during severe external shocks. We welcome the borrowers' platform and the Saphira Forum on debt. Debt for development, climate, and the nature swaps should complement, not replace, grants and the concession of finance. Mr. Chair, trade must serve as an engine of development. A predictable, inclusive, and rule-based multilateral trading system should support productive capacity, value addition, and economic diversification. For Africa, implementing the African Continental Free Trade Area and strengthening regional value chains are essential. Kenya further called for strong action against illicit financial flows. through information exchange, beneficial ownership, transparency, and effective asset recovery and return. We remain committed to an inclusive United Nations framework convention on international tax cooperation that safeguards the taxing rights and the policy space of developing countries. Nationally, Kenya continues to strengthen public financial management, debt management, and the tax administration while investing in productive sectors under the bottom-up economic transformation agenda. Macroeconomic stability cannot be achieved by compressing development expenditure. It must be founded on sustained growth, decent jobs, and adequate fiscal space. I thank you.


2nd Committee · Chair [1:11:14]:

I thank the delegation of Kenya. I now give the floor to the distinguished delegation of Vietnam.


Viet Nam [1:11:21]:

Thank you, Mr. Chair. Vietnam associates itself with the statements of the G77 and China and of ASEAN. Mr. Chair, we meet one year after the adoption of the Seville Commitment, yet the financing environment for sustainable development remains challenging. Developing countries continue to face declining development assistance, high costs of capital and constrained fiscal space. Our priority must therefore be to translate commitments into implementation and development impact. For Vietnam, 2026 marks an important milestone as we joined the ranks of upper middle income countries, a proud accomplishment reflecting four decades of reform and sound socioeconomic strategy. Yet, this achievement also opens a new and more demanding stage of development. Our experience shows that as countries advance, their financing needs do not disappear, they change. Sustaining development gain requires continued investment in infrastructure, human capital, innovation, green transformation and resilience. Development corporations should therefore evolve with countries, taking into account their specific circumstances, vulnerabilities and capacities. Vietnam is also doing its part. We remain committed to strengthening domestic resource mobilization, advancing institutional reform, and diversifying sources of finance for development. The recent establishment of the Vietnam International Financial Center in Ho Chi Minh City and Da Nang is part of our efforts to better mobilize domestic and international resources and deepen our integration into global financial markets. One year after Seville, we call for concrete progress towards a more equitable and responsive international financial architecture that expands access to long-term and affordable finance and enhances the voice and representation of developing countries in global economic governance. As science, technology, and AI increasingly shape the global economy, we also call for stronger global partnership on capacity building, knowledge sharing and equitable access to new and emerging technologies, enabling developing countries to participate and compete on an equal footing. In conclusion, Mr. Chair, Vietnam stands ready to work with all partners to translate the Seville commitments into concrete results. I thank you.


2nd Committee · Chair [1:13:58]:

I thank the distinguished delegation of Vietnam. I now give the floor to the distinguished Permanent Representative of Namibia. Ambassador, you have the floor.


Namibia · Permanent Representative [1:14:07]:

Thank you, Chair.

Nigeria aligns with the statements delivered on behalf of the Group of 77 and China and the African Group. The issue of debt sustainability continues to pose a significant challenge to developing countries. They often face high interest rates on loans, largely due to unfair perceptions of elevated risks. This constrains their fiscal space and limits investments in development priorities. Reforming the international financial architecture is therefore essential to create a more equitable system that enables them to access capital on affordable terms. Namibia recognizes that illicit financial flows remain a significant obstacle to sustainable development, particularly for developing countries, as they undermine domestic resource mobilization and divert resources away from critical investment for the achievement of the SDGs and the objectives of the Pact for the Future. Namibia, therefore, calls for the strengthened international cooperation to prevent and recover illicit transferred assets, including through greater transparency in beneficial ownership, stronger national financial intelligence, and enhanced information sharing among countries. In 2023, Namibia introduced restrictions on exports on certain unprocessed critical minerals to encourage domestic processing. Our objective is to retain more value, create more jobs, and strengthen our productive capacity. In this regard, Namibia emphasizes that international cooperation on trade Commodities and investments should support the policy space developing countries need to pursue these objectives. Chair, sovereign credit assessments must be transferred and take proper account of national circumstances. We therefore encourage greater dialogue with the countries being assessed. It is cognizant of this imperative that Namibia welcomes the creation of the Africa Credit Rating Agency that was launched yesterday in Mauritius. This development is a building block for Africa asking ownership of a development and prosperity agenda. It demonstrates progress in Africa's ambition to drive impetus for the reform of the international financial architecture in order to ensure a levelled playing field. I thank you, Chair.


2nd Committee · Chair [1:16:36]:

I thank the distinguished Permanent Representative of Namibia. I now give the floor to the distinguished delegation of the Dominican Republic.


Dominican Republic [1:16:46]:

Thank you, Chair. My delegation aligns itself with the statements made by Uruguay on behalf of the G77 and China, and by Palau on behalf of AOSIS. In a context of international economic uncertainty, high financing costs and inflationary pressure, we must strengthen international mechanisms for financial support. Maintaining an open, fair, multilateral trading system is crucial, as is moving towards an IFI which is more representative and able to respond to external crises. The Dominican Republic reaffirms its competitive integration in global value chains. In 2025, we captured more than $5 billion in FDI. We achieve record exports of almost $60,000. These serve to achieve our goal of doubling GDP by increasing productivity investment and improving the living standards of our people. Moreover, we are moving forward with our INFF, with our elaboration of a zero draft for financing for development aligned with the severe commitment. This framework proposes regulatory reforms and the creation of a national tripartite financing committee. At the same time, alongside the joint SDG fund, we are developing the first comprehensive AI solution for budgetary classification for the SDGs. That's an activity that we offer as part of the CELS-SELF cooperation. We reiterate that economic progress among middle income countries must not limit their access to concessional financing. We urge the adoption of measures beyond GDP and as a small island developing state, we wish to see the MVI incorporated in financing criteria. We should see the activation of debt sustainability support mechanisms for SIDS. Moreover, we support the temporary suspension of debt payments in the face of disasters and greater participation of debtor countries in international financial decisions. Finally, we reiterate that the challenge we are facing is not only taking on commitments, but also guaranteeing their implementation. We must expedite compliance with the Seville commitment, we must strengthen international cooperation and make constructive and inclusive progress in negotiations on the United Nations Framework Convention on Cooperation in International Tax Matters, we reaffirm our commitment to an international financial system which is just, capable, inclusive and effective, and one which translates agreements achieved into tangible results for our peoples. Thank you.


2nd Committee · Chair [1:19:40]:

I thank the delegation of the Dominican Republic. I now give the floor to the distinguished delegation of the Maldives.


Maldives [1:19:51]:

Thank you, Chair. The Maldives aligns with the statements delivered by Uruguay on behalf of G77, China, and Palau on behalf of AOSIS. Development depends on whether countries have the financial capacity to make and implement their own choices. Affordable and predictable finance expands that space. High borrowing costs, debt service pressures, and limited access to capital narrow it. The Moldus wishes to make two practical points. First, the severe commitment has mandated the General Assembly to hold a debt dialogue as part of an intergovernmental process on debt at the UN. The model proposes that this dialogue be convened before the end of this year, bringing borrowers, creditors, international financial institutions, and other relevant actors into the same discussion. The dialogue should focus on the problems borrowers actually face, high debt service costs, expensive refinancing, limited voice in decisions that affect them, and weaknesses in current debt restructuring processes. Its purpose should be practical. Lower financing costs make debt processes more predictable, expand access to affordable finance, and give borrowing countries greater fiscal and policy space. Second, developing countries need investment that reaches viable projects at an affordable cost. Technology is creating new opportunities, including in AI and digital services. but countries can benefit from them only if investment reaches the infrastructure, skills, and businesses needed to use that technology. The Maldives is also seeking investment across established sectors, including tourism, fisheries, agriculture, and renewable energy. For SIDS, viable projects can still struggle to attract finance because of scale, perceived risk, and the cost of preparing projects for investment. Development banks and other partners should therefore strengthen project preparation, reduce financing costs, and help viable projects reach the structure needed to attract private capital. The objective is to expand the financial space within which countries can make their own choices, invest in their priorities, and shape their own development. I thank you.


2nd Committee · Chair [1:22:15]:

I thank the delegation of the Maldives. I now give the floor to the distinguished delegation of Iran.


Iran (Islamic Republic of) · Ambassador [1:22:23]:

Ambassador Rahman Ebrahim. Mr. Chair, turning first to international trade and development, the Secretary-General report highlights that despite the growth and global trade in 2025, increasing trade restrictions, uncertainty, and inequalities continue to pose significant challenges, particularly for developing countries. International trade must remain an engine for sustainable development. In this regard, we wish to emphasize the following point. First, strengthening an open, fair, transparent, inclusive, and non-discriminatory multilateral trading system with development at its core. Second, preserving adequate policy space for developing countries. Third, bridging the digital divide through technology transfer, capacity building, and equitable access to emerging technology. Furthermore, the Islamic Republic of Iran strongly opposes unilateral coercive measures, including economic and financial sanctions, which obstruct international trade, restrict access to technology, and undermine sustainable development and the right to development. Turning to finance, financing for development, the Secretary General report highlights growing financing constraint, declining official development assistance, raising borrowing costs, and persisting inequalities in international financial system. Of particular concern is the 23.1% decline in ODA. The challenges require urgent and coordinated international action. In this context, Iran wishes to highlight following point. First, Reforming the international financial architecture to ensure equitable representation and meaningful participation of developing countries. Second, strengthening developing cooperation through predictable, affordable, accessible, and non-discriminatory financing aligned with national development priorities. Third, promoting international tax cooperation, South-South cooperation, and technology transfer. We further stress that financing for development must not be politicized or used as an instrument of economic pressure. In conclusion, Mr. Chair, international trade and financing for development are mutually reinforcing. A fair trading system requires adequate financing resources with sustainable development. Financing depends on an open, predictable, and non-discriminatory international system. I thank you.


2nd Committee · Chair [1:25:03]:

I thank the delegation of Iran. I now give the floor to the distinguished Permanent Representative of Papua New Guinea. You have the floor, Ambassador.


Papua New Guinea · Permanent Representative [1:25:14]:

Chair, all protocols observed. My delegation's full statement has been posted to the relevant portal, but this is a truncated version of it. For our country, whether a rural health center receives life-saving medicines, a child is educated, a farmer reaches a market, or a young person secures productive employment, hinges on sound macroeconomic policy and management and financing for development. Our Vision 2050 and Medium Term Development Plan 4, which incorporates a 2030 agenda, together with the reset Papua New Guinea 50 agenda, are the roadmaps for our development. Two key aspirations among other objectives are to return to a surplus budget next year and to grow a 200 billion per year economy by 2030. As a lower middle income developing country, we have pursued macroeconomic stability, fiscal responsibility, enhanced governance and digitization. Yet we continue to face global fuel price shocks, the risks of a serious El Nino event and our grey listing by the Financial Action Task Force, which we are committed to exiting as soon as possible. Chair, Papua New Guinea highlights four interconnected priorities. First, financing for development must respond to national circumstances at speed and scale. We need affordable, predictable, and long-term concessional financing that recognizes vulnerability rather than income classifications alone. For climate-vulnerable countries, application of the multidimensional vulnerability index is critical. We also call for effective implementation of the severe commitment and reform of the international financial architecture. Second, international tax cooperation must strengthen domestic resource mobilization and hold illicit financial flows from natural resource extraction. Papua New Guinea strongly supports the intergovernmental process for a UN framework convention on international tax cooperation, including fair allocation of taxing rights and stronger cooperation against tax evasion and illicit financial flows. Third, trade and investment must support economic diversification and improve lives and livelihoods. This includes greater domestic downstream processing of our natural resources, climate-resilient farming, and expanded access to finance, technology, and markets. We welcome trade over aid initiative, but within a fair, transparent, and predictable international trading system. Fourth, development partnership must place people at the center. Our youthful population needs improved nutrition, quality education, and finally, Mr. Chair, this committee's success is not just about adopting resolutions. and improving livelihoods and the young person's future being improved for the better. This is a measure that we must not overlook.


2nd Committee · Chair [1:28:29]:

I thank the distinguished Permanent Representative of Papua New Guinea. I now give the floor to the distinguished delegation of Togo.


Togo [1:28:40]:

Togo aligns itself with the statement delivered on behalf of the African group and the statement delivered on behalf of the G77 and China. Still, we would like to make the following observations in our national capacity. Turning to the question of external debt, it is at the forefront of the concerns of many developing countries in an international context marked by complex and multifaceted crises, increased costs of financing, climate vulnerabilities, and economic uncertainties, the capacity of states to finance their development priorities continues to face major constraints. As for Togo, the sustainability of external debt cannot be understood only through the prism of financial balance. It also needs to be understood in light of the capacity of our countries to invest in their future, to protect their populations, and to continue their economic transformation. Mr. Chair, as for my country, we are continuing our efforts to ensure fiscal consolidation and revenue mobilization in the context of the program supported by the IMF. Togo is also seeking to strengthen the sustainability of its external debt while prioritizing concessional financing and while gradually moving its portfolio toward longer term external borrowing under more favorable conditions. The current value of our public external debt is set to move from 23.8% of GDP in 2025 to 17.7% in 2030. These steps are coupled with a better regulation of new borrowing, increased transparency, in particular by publishing every trimester debt bulletins, and by better tracking risks linked to public businesses and public private partnerships. These steps have helped to improve our fundamentals and macro and economic indicators of Togo. This is illustrated by its graduation on the 1st of July 2026 from the low income country category to a middle income country, according to the classification of the World Bank. Mr. Chairman, these This progress can't hide the reality. The external debt is a shared responsibility. This is the message conveyed by His Excellency, Forso Zimnah Gnassingbe, President of the Council of the Togolese Republic, at the Conference of the African Union on Debt that was held in Lome, in Togo, in May 2025. That conference led to the adoption of an outcome declaration, and we'd like to highlight some salient points from that now.


2nd Committee · Chair [1:31:46]:

Microphone, please. I now give the floor to the distinguished delegation of Zambia.


Zambia [1:31:53]:

Chairperson, Excellencies, distinguished delegates, Zambia aligns itself with the statements delivered on behalf of the Group of 77 and China, the African Group, and the AODC Group. For us, financing for development means advancing our Grow Zambia agenda, a young person finding a job, a child attending school, and a family accessing healthcare due to increased investment in economic and social sectors. This is the measure of success we must bring to implementing the severe commitment. Declining development assistance, debt pressures, and high borrowing costs constrained investments, national efforts require an enabling global environment that supports our development priorities through affordable financing, predictable trade rules, and access to technology. Financial architecture reforms must therefore strengthen the resilience through expanded concessional financing and a stronger global safety net. ODA commitments must be fulfilled and developing countries better represented in global governance. We support the African Credit Rating Initiative to build national capacities and promote assessments reflecting economic realities and prospects. These reforms must also address debt servicing that diverts resources from development. We support efforts to close gaps in debt architecture and advance timely, fair, and coordinated restructuring involving all creditor categories. Zambia supports and remains actively engaged in the Borrowers' Platform, encouraging other net borrowing countries to join and strengthen the borrowers' collective voice. Chairperson, making financing deliver also requires effective cooperation. A revitalized DCF should inform the 2027 FFD Forum's review of international development cooperation, respecting both mandates and advancing country ownership and results. Alongside cooperation, trade and investment must expand productive opportunities. We call for non-discriminatory trade rules and a functioning WTO dispute settlement mechanism. Project preparation guarantees and risk sharing should attract investment that builds skills, support local value addition and create jobs. The resources generated must be protected through action against illicit financial flows. Finally, accelerated implementation of the SDG commitment will require strong institutional support. UN DESA and other relevant institutions must be supported to advance implementation within their mandates. Chairperson, full and timely SDG implementation must enable national ambition and improve lives. Let us deliver on our commitments to leave no country behind. I thank you.


2nd Committee · Chair [1:34:50]:

I thank the delegation of Zambia. I now give the floor to the distinguished delegation of Norway.


Norway [1:34:59]:

Thank you, Chair. Each year that we meet in this committee, the urgency of bridging the SDG financing gap is increasing, and this year is no exception. In addition, economic inequality within and between countries is growing. With the Compromiso de Sevilla, we have a common framework for One, reforming the international financial architecture. Two, mobilizing finance from a variety of sources. Three, addressing debt challenges. And four, ultimately ensuring that finance flows to where it is needed. Successful implementation of Seville requires efforts at national and global levels. Effective cooperation between the UN, the international financial institutions, and multilateral development banks is critical. Implementing SEVIA must continue to be at the center of our deliberations in the relevant second committee resolutions. In our efforts to ensure that finance flows to where it is most needed, Norway remains steadfastly committed to curbing illicit financial flows, preventing tax evasion and avoidance, combating secrecy and corruption, and ultimately enhancing domestic revenue mobilization for sustainable development. Norway also remains committed to actively engaging and contributing to effective and widely supported solutions in the UN Framework Convention on Tax Cooperation. We are also stepping up our efforts to mobilize private investment and support job creation. Chair, in the broader global economic governance, we support enhancing the voice and representation of developing countries. And we must deliver on the debt related commitments from Cevia, which is a package of actions intended to lower cost of borrowing, free up urgently needed resources for development and prevent debt crisis. Norway also welcomes the G20 common framework improvement proposals from Sevilla, and we will actively follow the work of the UN, IMF, the World Bank and the World Bank in their efforts to consolidate global guiding principles on responsible borrowing and lending. And we are looking forward to their completion. Chair, we cannot succeed without the economic empowerment of women. Norway will continue, as always, to promote this as a cross-cutting matter in all of our deliberations. And in conclusion, in order to realize our collective ambitions and rebuild trust, let us not forget the words from Sevilla. We cannot afford a retreat from multilateral cooperation. With that, I thank you.


2nd Committee · Chair [1:37:42]:

I thank the delegation of Norway. I now give the floor to the distinguished permanent representative, deputy permanent representative, pardon, of Colombia.


Colombia · Deputy Permanent Representative [1:37:52]:

Thank you, Chair. It is an honor to see a Central American country steering today's debate. Macroeconomic policies that are solid and an international financial system which is effective to mobilize resources are vital. Here we wish to underscore the following points in view of the work of the Second Committee and its discussion on macroeconomic policy questions and financing for development. We have committed to championing an agenda designed to promote growth, to recover macroeconomic stability, strengthen investment, and lend new dynamism to strategic economy sectors. Here, fiscal responsibility and economic growth must go hand in hand. When progress is made, sustainability of public coffers and the expansion of fiscal space are both necessary to guarantee lasting development. My second point, the International financial architecture must facilitate access to capital. We support mechanisms that reduce financing costs, mobilize private investment, strengthen the multilateral development banks' capacity for response, and that provide financing for development projects, preserving fiscal space and debt sustainability. Debt sustainability is a prerequisite for development. Colombia is of the view that it is necessary to make progress with mechanisms that allow countries to access financing on sustainable conditions and to respond to extraordinary shocks without compromising their public finances in the long term. Accessing finance must bolster productive capacity and not create new fiscal vulnerabilities. Turning now to promoting FFD, Colombia believes that foreign investment should create value and effectively contribute to the sustainable development of receptor countries. Capital should be attracted that contributes to the creation of jobs, strengthening industry, regional development, productivity, and the diversification of exports. Lastly, financing for development resources must produce works, infrastructure, employment, and better living conditions for citizens. Colombia's response to the recent earthquake demonstrates the importance of A development financing architecture that is able to provide an agile response to extraordinary shocks, to heed emergencies and to expedite reconstruction without jeopardizing the macroeconomic stability of countries. I thank you, Chair.


2nd Committee · Chair [1:40:22]:

I thank the delegation of Colombia. I now give the floor to the distinguished Permanent Representative of Malawi.


Malawi · Permanent Representative [1:40:34]:

Chairperson, Malawi aligns itself with the statements delivered on behalf of the Group of 77 and China, the African Group, and the Group of Least Developed Countries. Malawi proposes that development finance be assessed by its additionality, affordability, and contribution to productive capacity. Guided by Malawi 2063, our national development vision, We seek support that strengthens our capacity for self-reliance through increased productivity and improved competitiveness. We emphasize four priorities. First, strengthen domestic resource mobilization. Better task administration, transparent public finance management, and efficient spending must be supported by international cooperation on taxation and action against illicit financial flows. Second, expand affordable long-term development finance. Alongside ODA, Malawi needs concessional financing for productive capacities human capital and economic infrastructure that enhance trade and investment. Such support should strengthen debt sustainability and our capacity to finance national development priorities. Access procedures must reflect the constraints facing least developed and landlocked developing countries. Third, mobilize private investment towards productive sectors, including energy sector. Risk sharing instruments should support enterprises while ensuring transparent contracts, sound project selection, and prudent management of public liabilities. Fourth, make climate financing accessible and predictable. Ground-based adaptation support should strengthen resilient agriculture, water systems and infrastructure without deepening debt vulnerabilities. Chairperson, the severe commitments must translate into coordinated delivery around national determined priorities. Development partners should strengthen national capacity to assess risk and realistic returns on large-scale projects, enabling informal investment decisions. Malawi advocates national agency in development cooperation. Governments must read decisions of priorities, sequencing, financing arrangements, and implementation, supported by accountable partnership. Our test is clear. Does financing build productive capacity, create decent jobs, expand exports, and strengthen domestic revenue? Development cooperation must progressively strengthen Malawi's ability.


2nd Committee · Chair [1:43:37]:

I thank the distinguished permanent representative of Malawi. I now give the floor to the distinguished delegation of Spain.


Spain [1:43:47]:

Thank you, Chair. The SIVIA commitment stands as new momentum to close the financing gap, which continues to remain incompatible with our sustainable development ambitions. Its implementation must now be our priority. We cannot allow SIVIA to become a set of promises unfulfilled or only partially fulfilled, or even worse, to create a situation whereby progress is undone and commitments are walked back. We need to work on three fronts. One, strengthen the mobilization of domestic resources through more effective, progressive, transparent tax systems which are able to reduce inequalities. We trust that the negotiations on the framework convention will make substantive progress in the coming months. Secondly, we must comprehensively address the debt crisis. We commend the recent reform of the debt framework for low-income countries, and we eagerly await the results of the first meeting of the Borrower Platform and the first meeting of the Debt Forum. Both of them will be held in Bangkok on the margins of annual meetings. Thirdly, we must accelerate the reform of our international financial architecture and work to ensure multilateral development banks have better capacity to mobilize financing at a large scale. Spain welcomes the fact that the Seville Platform of Action is serving as a useful tool for the implementation of commitments and to strengthen cooperation with all partners. We encourage Member States that are participating in initiatives of the Platform to remain committed to progress with them and to report on progress made. Spain is championing several initiatives. These include: the partnership on debt pause clauses, the global hub for debt for development swaps, the severe forum on debt, which I've already referred, and the global alliance for beyond GDP. Chair, Spain is convinced that progress cannot be measured solely in terms of GDP. Our goal must be to build economies that create decent employment, reduce inequalities, protect the planet and effectively improve the well-being of people. Consequently, we are committed to the work being done to move forward with metrics that go beyond GDP. Finally, Spain aligns itself with these statements made by Brazil, South Africa, and Norway regarding the importance of making progress in combating inequality. We encourage all delegations to support the panel initiative. Thank you.


2nd Committee · Chair [1:46:24]:

I thank the delegation of Spain. I now give the floor to the distinguished delegation of Haiti.


Haiti [1:46:34]:

Thank you, Chair. The delegation of Haiti is honored to take the floor on agenda item 15 and 16. We fully support the statement made on behalf of G77 and China. The severe commitment provides us with a lodestar to reform the international financial architecture. For Haiti, priorities are clear. We cannot simply palliate crises. Rather, we must build an architecture able to support development sustainably and in the long term. In order for vulnerable countries to transform their economies, we call for a tangible implementation of this commitment, focused on three fronts: 1. The adoption of the multidimensional vulnerability index. The GDP per capita is an overly restrictive indicator with which to measure the reality of our needs. MVI must become the criteria, the decisive criteria for access to concessional financing. It's vital for the international community to recognize structural shocks as a standing piece of data and something which always happens rather than exception. We must transform, develop aid to investment. We call for ODA to be predictable. unearmarked and strictly aligned with national strategies. Our goal is to move from dependency to partnership that requires robust technical support which seeks to reform our national institutions. Three, we need to increase the mobilization of domestic resources, the fight against tax evasion, corruption, and illicit final financial flows is a matter of absolute urgency. We call for increased international cooperation to get our financial systems back on track and to allow the state to fully mobilize its own resources that will that national wealth serves sustainable development and critical services for our people. Chair, trade must remain a driver of shared prosperity. However, the fragmentation of supply chains and current geopolitical tensions hold that halt the integration of developing countries into the multilateral system. For Haiti, the international trade is a lever for structural transformation. In spite of challenges, my country draws on strategic cooperation mechanisms such as the HOPE law with the United States to lend momentum to our productive sector and attract investment. We wish to make better use of these levers to transform our economy. For this effort to bear fruit, we need a multilateral system which is open, based on clear rules and non-discriminatory rules. We call for increased support as we seek to increase our productive capacity. and to ensure that we have access to global markets for our products. We reaffirm our tireless commitment to multilateralism. We are not simply asking for assistance. We are calling for a form of cooperation which respects our sovereignty and supports our aspirations for domestic sustainable growth. The time has come to translate our common commitments into tangible results for the most vulnerable among us. I thank you.


2nd Committee · Chair [1:49:25]:

I thank the delegation of Haiti. I now give the floor to the distinguished delegation of Mozambique.


Mozambique [1:49:34]:

Thank you, Chair. Let me start by stating that Mozambique aligns itself with the statement delivered on behalf of the African Group and G77 and China. Mozambique attaches great importance to the multilateral trading system as an essential instrument for promoting sustainable development, economic diversification, and shared prosperity. However, Mozambique is concerned by the growing fragmentation of global trade arising from tariffs and non-tariff barriers, supply chain disruptions, and increasing geopolitical tensions. These trends This proportional affect the developing countries in particular, create constraints in the ability to participate in meaningful and global value chain and harness trade as engine for development. Mozambique is facing challenges not only to expand trade, but also to transform itself or its structure in increasing domestic value addition, diversifying exports, and strengthening production capacities. Mozambique welcomes the crucial trade negotiations under the WTO, with the 14th Ministerial Conference being recently in case. Thus, Mozambique is appeals for the continuation of relevant negotiation with WTO and need for a new political commitment to advancing and concluding outstanding negotiations. Mozambique also highlights the progress achieved through South-South cooperation and regional integration. It is remarkable to note that between 2020 and 2025, South-South trade expanded significantly in value, highlighting the growing role of developing economies in global trade. The African Continental Free Trade Area represents a major step towards transforming Africa's fragmented markets into a more integrated continental market. In this regard, Mozambique welcomes the progress made in the implementation of the African Continental Trade and remains committed to advancing regional integration. For Mozambique, The African Continental Free Trade Area should serve not only as an instrument of trade liberalization, but also as a catalyst for a productive transformation, infrastructure development, economic diversification, and strengthening of regional value chains. Chair, financing for development and debt sustainability remain central to our ability to achieve High borrowing costs, constrained fiscal space, and rising debt service obligations continue to limit the capacity of developing countries to invest in social services, infrastructure, and productive costs.


2nd Committee · Chair [1:52:53]:

I thank the delegation of Mozambique. I do apologize. I now give the floor to the distinguished delegation of Timor-Leste.


Timor-Leste [1:53:00]:

Mr. Chair, Timor-Leste aligns itself with the statement delivered on behalf of the Group of 77 and China, ASEAN, Group of Least Developed Countries, and the Alliance of Small Island States. As a least developed country and small island developing state, Timor-Leste recognizes that global microeconomic instability affect countries unequally. Rising debt servicing costs, volatile commodity prices, trade disruptions, and limited access to affordable financing disproportionality constrain countries with narrow economic basis and heightened vulnerability to external shocks. Against this backdrop, allow me to highlight four priorities. First, we call for more inclusive global economic governance that promotes financial stability, debt sustainability, and adequate fiscal space for developing countries. International financial institution must be better reflects the circumstances and structural vulnerabilities for of the least developed countries. Second, ensure access to concessional financing and consider not only income level, but also multidimensional vulnerabilities, climate exposure, and structural constraint. We support expanding financing instrument that enable productive investment without creating unsustainable debt burden. Third, accelerate economic diversification and productive transformation. Market access must be accompanied by investment in infrastructure, agriculture, education, digital connectivity, and technology transfer. Timor-Leste's recent accession to the World Trade Organization and ASEAN membership offer important opportunities to strengthen regional integration, attract investment, and diversify beyond dependence. Fourth, strengthening domestic resources mobilization and fiscal sustainability. Timor-Leste remain committed to improving public financial management, strengthening institutions, managing petroleum wealth responsibly, and expanding the productive non-oil economy. International financial should reinforce these national efforts and priorities. The Compromiso de Sevilla provides an important framework for advancing financing and sustainable development. Its effective implementation can help translate international commitments into tangible improvement for developing countries. I thank you, Mr. Chair.


2nd Committee · Chair [1:55:55]:

I thank the delegation of Timor-Leste. I now give the floor to the distinguished delegation of Pakistan.


Pakistan [1:56:04]:

Thank you, Chair. Pakistan aligns itself with the statement delivered by the Group of 77 and China. The global economic environment remains deeply challenging for developing countries. Rising trade tensions, mounting debt burdens, high borrowing costs, and declining development assistance are constraining their fiscal and policy space. For millions of people, these are not simply economic statistics. They translate into fewer opportunities for education, healthcare, employment, and a better future. The CVA commitment provided us with the framework. We must now build greater momentum towards its full implementation, with particular attention to following areas. First, the international debt architecture must be reformed. Debt servicing should not come at the expense of essential investments in development. We need fairer, faster, and more predictable debt treatment. lower borrowing costs, and greater fiscal space for developing countries. In this regard, Pakistan calls for the early initiation of the intergovernmental process on debt at the UN, as envisaged in paragraph 50F of the Cevier commitment. The launch of Borrower's Platform was an important step in closing a longstanding gap in international debt architecture. Pakistan will continue to actively support its work. Second, reform of the international financial architecture remains indispensable. Developing countries must have greater voice, vote, and representation in global economic decision-making. MDBs must significantly expand affordable long-term financing, while developed countries must fulfill their commitments on ODA and climate finance. Greater access to concessional resources and effective use of special drawing rights are equally important. Third, domestic resource mobilization requires a more equitable international tax system. We support the ongoing negotiations on a UN framework convention on international tax cooperation, which must ensure a fairer allocation of taxing rights. Lastly, trade must once again become an engine of development, and the WTO must be revitalized. This requires restoring the two-tier dispute settlement mechanism, special and differential treatment, concrete progress on agriculture, and an end to unilateral trade restrictive measures, including the environmental ones. Pakistan stands ready to work with all partners to translate these commitments into meaningful results. Thank you.


2nd Committee · Chair [1:58:33]:

I thank the delegation of Pakistan. I now give the floor to the distinguished representative of the Organization for Economic Cooperation and Development.


OECD [1:58:45]:

Thank you, Chair. The OECD statement will focus on three critical areas for sustainable development. international trade and investment, international tax cooperation, and the creative economy. Trade and investment are among the most powerful drivers of growth, jobs, and poverty reduction. Yet, markets alone cannot address every development challenge, particularly in fragile and vulnerable contexts where needs are greatest and commercial incentives alone are insufficient. Development cooperation therefore remains essential, not as an alternative to trade and investment, but as a catalyst for them. Used strategically, development cooperation can help countries build the infrastructure, skills and business environments needed to attract quality investment, strengthen productive capacity and integrate more fully into regional and global markets. It can also help ensure that economic growth translates into quality job and lasting development outcomes, as demonstrated in the OECD-WTO Aid for Trade initiative, which helps developing economies overcome trade barriers. At the same time, development budgets are increasingly under pressure, and we must make scarce resources work harder. The private sector is already playing a growing role. In 2024, trade-related sectors accounted for 85% of all private finance mobilized by official providers, reaching 66 billion US dollars, while non-concessional official finance also contributed additional 49 billion US dollars to supporting trade-related investments. To further support this trend and provide comprehensive information on investment opportunities across African economies, the OECD and the African Union Commission have created the Africa Virtual Investment Platform. Third, the global tax policy landscape is evolving and the current global context reinforces the need for multilateral cooperation to provide a stronger and more certain tax system. The OECD and UN have a long track record of working constructively together on tax matters. In the area of taxation, the OECD and the UN share 155 members in common. We will continue to work constructively with the UN toward our shared goal of building a stronger international tax system. The OECD will continue working with the UN and all partners for more resilient economies, stronger partnerships and prosperity that is sustainable, inclusive and widely shared. I thank you.


2nd Committee · Chair [2:01:39]:

I thank the representative of the Organization for Economic Cooperation and Development. I now give the floor to the distinguished representative of the Regional Commissions New York Office.


UN [2:01:51]:

Thank you, Chair. The severe commitment gave us a renewed framework for financing sustainable development. Our task now is implementation. The Secretary General's report on financing for development makes clear that implementation is taking place in an increasingly difficult environment. In this context, countries are increasingly turning to regional platforms to address debt and fiscal constraints, mobilize investment, and strengthen domestic resource mobilization. In Africa, ECA coordinates the high-level working group on global financial architecture, developed a common position on debt reform endorsed by the African Union. ECA support also contributed to the new capital market regulations on Islamic finance and sukuk in Uganda and helped Guinea obtain its first sovereign credit rating. Work towards an African credit rating agency is advancing efforts for more balanced credit assessments. In the Arab region, ESCWA is supporting countries to strengthen debt management and create fiscal space for sustainable development. Together with UNCTAD, It's established the Arab Debt Management Group, bringing debt managers together to strengthen debt data and risk analysis, assess debt sustainability, and develop more effective debt management strategies. ESCWA is also supporting countries, including Mauritania and Tunisia, to develop debt swap programs in pipelines of bankable projects aligned with sustainable development priorities. Across Asia and the Pacific, member states have agreed to advance regional follow-up to severe commitment through existing intergovernmental platforms. This includes ESCAP's Consultative Group on Financing Strategies for the SDGs, while the 2026 Asia-Pacific Forum on Sustainable Development brought together regional priorities on private finance, trade, financial architecture, and data. Regional work is also supporting financial sustainable frameworks and investment pipelines. In Latin America and the Caribbean, the Regional Platform for Tax Cooperation is supporting countries to strengthen domestic resource mobilization, with ECLAC serving as its technical secretariat. Regional cooperation is also helping development banks align their portfolios and financing mechanisms with the 2030 Agenda. And across the ECE region, work on sustainable infrastructure is helping connect projects with finance. Through ECE's infrastructure evaluation methodology, 284 projects worth more than 118 billion have been assessed, helping strengthen project preparations in alignment with sustainable development objectives. Mr. Chair, the regional picture carries a simple message: there can be no one-size-fits-all pathway to financing development. The road to Seville benefited from regional perspectives. The task now is to sustain engagement through implementation. The strengthened follow-up architecture gives us an opportunity to bring regional priorities into global discussions and translate commitments into action at the country level. The five regional commissions stand ready to support Member States in that effort. Seville has given us a shared framework. Its measure of success will be the difference it makes in our regions, our economies, and the lives of our people. Thank you.


2nd Committee · Chair [2:04:45]:

I thank the representative of the Regional Commissions New York office. I now give the floor to the distinguished representative of the International Fund for Agricultural Development, IFAD.


IFAD [2:04:58]:

Chair, Excellencies, distinguished delegates, high debt pressures, trade disruption, and reduced public funding place pressures on rural economies. where external shocks intersect with structural market failures and persistent underinvestment. As the Second Committee deliberates on macroeconomic policy and considers follow-up to the Seville Commitment, IFAD suggests three priorities from the perspective of rural economies and agri-food systems. First, debt and other pressures must not translate into a retreat from long-term investment. Reduced investment in rural infrastructure, productive capacity, and resilience can increase vulnerability to the next food, energy, or climate shock, putting development gains at risk and increasing future fiscal costs. Second, trade resilience requires stronger and better connected domestic and regional markets. Farmers receive less than 20% of the final retail food price, with most value added generated beyond the farm gate. The answer is not less trade, but investment across value chains in aggregation, storage, processing, logistics, and market infrastructure, so that countries can diversify supply, retain more value locally, and better connect producers to markets. Third, we need financing ecosystems that can reduce and manage risk and bring different sources of capital together. Around 70% of rural MSMEs lack adequate access to finance. This is not due to a shortage of capital. It reflects high transaction costs, fragmented markets, infrastructure gaps, and risks that individual investors often can't absorb. Here, the role of public and concessional finance is not to remove every commercial risk, but to build enabling environments, address specific market failures, help build viable pipelines, and create routes to commercial sustainability. Through EFAD's 14 replenishment, we're aiming to use concessional resources strategically to unlock larger flows of public and private investment into rural economies. We're doing this through partnerships that connect governments, bilateral donors, MDBs, public development banks, and private investors around country-led investment programs at the first mile. We look forward to working with all partners to accelerate implementation of the Sabil commitment. Thank you.


2nd Committee · Chair [2:07:32]:

I thank the representative of the International Fund for Agricultural Development. We have heard the last speaker on the list. The Committee has thus concluded the joint general discussion of agenda item 15 and its sub-items a to g, and agenda item 16. I wish to remind delegations that the deadline for the submission of draft proposals under item 15, Macroeconomic Policy Questions and its sub-items A to D, as well as agenda item 16, Follow-up to and Implementation of the Outcomes of the International Conferences on Financing for Development, is on Monday, 12 October, at 3:00 p.m. The deadline for sub-items to G of item 15 is on Wednesday 14th of October at 3:00 PM. The committee will reconvene in this conference room tomorrow, Friday the 9th of October at 10:00 AM. to jointly consider agenda item 14, entitled Information and Communication Technologies for Sustainable Development, and agenda item 19, entitled Globalization and Interdependence, together with its sub-items. Thereafter, the Committee will hear speakers remaining on the list for the joint general discussion held yesterday on items 18 entitled follow-up to the implementation of the new urban agenda and strengthening of the United Nations human settlements program you inhabit and agenda item 20 entitled groups of countries in special situations the meeting is adjourned.