Mr. Chair,
My Delegation would like to express its gratitude to Portugal and Burundi for their leadership as Co-Chairs of this important process, and to Spain for its generosity in offering to host the upcoming Fourth International Conference on Financing for Development (FfD4) in Seville. Furthermore, thanks are due to the Co-Facilitators, namely Nepal, Norway, Mexico, and Zambia for their efforts in drafting the Elements Paper, which provides a strong foundation for the work towards an ambitious and impactful outcome document.
It is commendable that the Elements Paper recognizes the profound challenges facing the global community. Development financing efforts over the past decade have failed to address properly the persistent inequalities and vulnerabilities, which are exacerbated by overlapping crises. This has delayed progress on the Sustainable Development Goals and thus achieving integral human development. The ambitious vision of sustainable development must be matched by concrete action. The means of implementation are indispensable to achieve the common goals.
My Delegation welcomes that the Paper recognizes a number of important areas including, inter alia, the urgency of prioritizing the needs of countries in special situations, namely Least Developed Countries, Landlocked Developing Countries, and Small Island Developing States. These Countries are at the forefront of global challenges and must be at the center of our collective financing efforts. It also welcomes that the Paper emphasizes that aligning support with national priorities is crucial to ensure sustainable and context-specific solutions, while recognizing the need for increased climate financing.
On the issue of debt, my Delegation supports the call in the Elements Paper for stronger commitments on debt management, sustainability and restructuring. However, to meet the development needs and realities of all, my Delegation believes that greater ambition is both necessary and achievable. Pope Francis has urged wealthy nations to take a bold step of solidarity: to cancel the debts of developing Countries who will never be able to repay them.[1] This is not only a transformative act of generosity but above all a moral imperative in order to uphold the dignity of all and unlock the potential of nations trapped in cycles of debt distress. Therefore, the Holy See hopes that meaningful commitments on debt, including reference to cancellation where appropriate, will be agreed upon in the outcome document.
Mr. Chair,
As we move closer to FfD4, my Delegation emphasizes the necessity of prioritizing poverty eradication as the central objective of all financing efforts. Poverty is not merely an economic challenge; it is a profound violation of God-given human dignity and a fundamental obstacle to sustainable development. Consequently, our discussions must properly recognize that poverty remains the greatest global challenge, an indispensable requirement for sustainable development and an imperative for all humankind. By properly framing poverty eradication as the overarching objective of our efforts, we will ensure that the outcomes of this Conference will address the most urgent needs of all.
Thank you, Mr. Chair.
