Ladies and Gentlemen,
• This Civil Society Meeting will form an important part of the efforts to develop “Financing for Development in the Era of COVID-19 and Beyond”.
• The UN is the only inclusive and universal forum to advance discussions that represent the voices of all actors, including civil society. The UN also has a role to mobilize actions by all.
• In my remarks as ECOSOC President at the September High-level Event, I underscored the need for urgent concrete measures by all stakeholders to address the current challenges facing developing countries says a press release received today from New York.
•To support developing countries to tackle their specific challenges in the COVID-19 response and recovery, we need comprehensive measures to ensure that their economies recover and revive on the path of growth and development.
• Let me highlight a few concrete actions that we need to take to enable the developing countries to achieve a resilient, sustainable and inclusive recovery.
• First, it is absolutely essential that we address the debt vulnerabilities and liquidity requirements of developing countries. PM Imran Khan of Pakistan called for a global debt initiative back in April.
• Second, investment flows, including those from stimulus packages, should prioritize investment in sectors aligned with the SDGs, such as sustainable infrastructure in renewable energy, water and sanitation, transportation, information and communication technologies, health, and education.
• There is a need for an integrated facility under the UN umbrella which can harmonize investment policies and help developing countries in preparation of project and feasibility studies, and in accessing financing from both public and private sources.
• Third, Fiscal policies are a crucial component of COVID-19 response and recovery. The pandemic is an opportunity to put in place an equitable international tax regime to enable developing countries to generate adequate domestic revenues to finance the SDGs.
• Fourth, to allow illicit flows to continue from developing countries at this time would be nothing short of criminal. The FACTI Panel interim report highlights that lack of financial integrity is a global problem, which requires global and inclusive solutions. I invite civil society to support the work of the FACTI Panel.
• The COVID-19 pandemic should be the impetus to accelerate implementation of long overdue measures to set the world on a more sustainable and equitable development path and to make the global economy more resilient to future shocks.
• The voices of civil society - your voices- will play a vital role not only by contributing your expertise but also by amplifying the call for a sustainable, resilient and inclusive recovery from COVID-19.
• I look forward in the coming months to your contribution to ECOSOC forums such as the FFD Forum, Development Cooperation Forum, and the HLPF which will advance some of these objectives which I have mentioned and contribute to the promotion of the SDGs.
• I thank you.
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