EU Statement – UN General Assembly: Presentation of the Zero draft for the 4th Financing for Development Conference

Mr Chair,      

I have the honour of speaking on behalf of the EU and its Member States.

Let me begin by thanking the four co-facilitators [Nepal, Norway, Mexico and Zambia] for the zero draft before us, and for presenting a roadmap for the way ahead.

The EU and its Member States have been and will continue to be actively and constructively engaged in this preparatory process. 

While we are still assessing the details of the document, I would like to offer a few preliminary reflections on substance, and an appeal on the process.  

First, three points on substance.

Last September our leaders convened a Summit of the Future. They agreed a comprehensive and above all ambitious Pact, to turbocharge implementation of the 2030 Agenda and the SDGs.

We are all well aware of the massive mismatch between SDG implementation needs and their financing. The growing gap is of grave concern. In these challenging circumstances, the FFD4 process now has to make good on the ambition of the Pact with concrete and realistic actions to implement the vision.

These actions – that must demonstrate tangible, measurable impact on the future of people and planet - will pave the path to that vision. And build trust in multilateral cooperation.

This is the first key point – it is crucial that we focus on agreeing to actions that will move the needle and deliver concrete results. Establishing a strong monitoring and follow-up mechanism will be crucial to ensuring that the political momentum generated in Seville translates to action and results.  

Second, we will have to be more coherent, more inclusive, more effective and more efficient with the resources that are available. All possible resources have to be mobilised, public and private, domestic and international, and all stakeholders will have to do their part.

With the Addis Ababa Action Agenda as our starting point, the Seville outcome will not start from scratch. We need to recognise and acknowledge what already has been achieved and is being done, such as the ongoing MDB reforms.

We should focus on improving and building on existing structures, ongoing work and processes. Including in other international fora such as the G20.

Let us prioritise efficiency, coherence and avoid duplication. We must respect and make the best use of the independent roles and mandates, strengths and advantages of various global institutions and actors. And make use of synergies and complementarity and promote more and better collaboration, including with the private sector and other stakeholders.

Thirdly, explicitly targeting inequalities, within and between countries, with purpose, measurability and accountability, must be at the heart of all of our actions.  

Mr Chair, let me at this stage congratulate the co-facilitators for the work they have done in synthesising the rich and ample palette of inputs and ideas into the zero draft.

The EU and its MS will come with more precise feedback, questions and suggestions in due course.

Some of the specific priorities mentioned in the document we strongly support. These include:

• enhancing fiscal systems, both for revenue and expenditure; improving enabling environments at all levels;
• leveraging private capital mobilisation and finance through innovative financial instruments and de-risking mechanisms such as guarantees.

We support doubling down on known development multipliers such as:

• good governance, human rights and the rule of law;
• human capital and skills, science, technology and innovation;  
• gender equality and the economic empowerment of women and youth.

We also fully agree that financing for climate, biodiversity and the environment, and for other dimensions of sustainable development are closely interlinked.

We strongly support aligning finance flows with the goals of the Paris Agreement and the Kunming-Montreal Global Biodiversity Framework, that remain as important as ever.

We also encourage reinvigorating work on the development effectiveness agenda, with a strong focus on impact.

We have also identified a number of actions on which we have questions and concerns, and which would require further clarification, context and better balance. These include elements relating to the global financial safety net and SDR issuance, debt architecture, debt sustainability analyses, credit ratings, some of the proposals relating to illicit financial flows, prudential treatment and taxation.  

Finally, there are also some issues that we see as still missing from the text, such as financing of the peacebuilding agenda, bearing in mind that 40 per cent of those living in extreme poverty are in conflict-affected countries.

Mr Chair, I would like to conclude with an appeal on process. With less than 6 months to go, clarity, predictability and focus will be of utmost importance.

We would encourage agreeing to and sticking to a roadmap, a draft of which you have circulated, on the basis of feedback from members, by the third PrepCom.

We would specifically recommend circulation of at least one if not two revisions of the outcome document to facilitate reaching a consensus text ahead of the conference.

And of course, the process should be inclusive and transparent.     

Mr Chair, ladies and gentlemen, I close by reiterating the commitment of the EU and its MS to engage fully and constructively with all delegations, stakeholders and partners in this process, and look forward to the 3^rd PrepCom in February.   

Thank you.