Distinguished co-facilitators:
We would like to express our appreciation for the work you have done in preparing the first draft of the outcome document of the Fourth International Conference on Financing for Development (FFD). As we have previously emphasized, this process is of utmost importance for our delegation.
We align with the statement delivered by Iraq on behalf of G77 and China and Palau on behalf of AOSIS.
We appreciate your efforts to incorporate the comments and feedback presented during the Third Session of the Preparatory Committee. However, additional work is needed in certain areas of the text to ensure that we do not backtrack or dilute commitments made in previous international conferences on FFD and other existing legal frameworks. It is essential that longstanding principles of the development agenda, such as the principle of common but differentiated responsibilities, are upheld.
We are particularly concerned that the debt section does not adequately reflect the urgency of addressing the debt burden faced by developing countries. We are disappointed that the AOSIS proposal to initiate an intergovernmental process at the United Nations to establish an international convention which includes, inter alia, a multilateral sovereign debt mechanism, was not included in the draft. We emphasize the need to provide a definitive and lasting solution for debt crises.
We also reiterate that unilateral economic, financial, or trade measures remain a significant obstacle to development. The outcome document must address these barriers to effectively support the developing countries directly affected by them. We welcome the steps already taken in this regard in the first draft and propose strengthening the language further.
We raised our concerns during the 3rd PrepCom regarding the follow-up section. This section will depend on the outcome of other areas and the ambition we will be able to achieve there at the end of the process. Clear and well-defined commitments will be essential for shaping the follow-up. At this stage, it is unclear which commitments will be translated into measurable indicators. Additionally, we are concerned with the overemphasis of some proposals on the implementation at the national level with no mechanism for making accountable actions that are needed at the international level, as well as the increased reporting burden on developing countries. Clarifications and additional rationale regarding these proposals would be necessary to facilitate a better understanding of their specificities.
In conclusion, we emphasize the importance of ensuring that the final outcome of this Conference results in concrete and actionable commitments that effectively address the challenges faced by developing countries. We remain committed to collaborating with all delegations to strengthen the text, ensuring that financing for development becomes a true driver of progress and growth.
Thank you.