Thank you Chair. 

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

As always, you can rest assured of the EU’s full support to you as co-facilitators. 

And our warm thanks goes to the secretariat heroes who put together the compilation of comments, including, as we requested, the colour coded brackets - thank you!   

Excellencies, colleagues, the EU has repeated time and again that this process is about more than financing for development, the 2030 Agenda and achieving the SDGs. It is fundamentally about showcasing that multilateralism delivers when it matters the most, to address serious global challenges such as poverty, inequalities including gender inequality, and tackling the triple planetary crisis. 

This process  is a test of our commitment and a crucial test for the UN itself and its ability to perform an effective role in international economic governance, for people, planet and prosperity.  

Multilateralism is a choice. The sum of our action here, together at the UN, is greater than its parts. It is in the interest of us all. And, on global economic governance in an interconnected world, it is an imperative.   

The EU offer for FFD4 is to work with all and deliver an ambitious, realistic set of actions where everyone has a part to play. And we commit to take action and hold ourselves accountable. 

But our offer is only as good as what we achieve together. The EU alone cannot finance sustainable development for all. Let me repeat what we have said at every juncture: The EU - representing only about 5 % of the world’s population and only about 15%  of the world’s GDP, contributes today 42% of all global ODA – a percentage that will increase further as US funding cuts  materialize. To succeed in our common endeavor, every source of finance has to be mobilized –  public, private, domestic and international.   

National ownership, national strategies, and domestic resources are at the heart of every sovereign state’s sustainable development. We have to ensure that these flows are maximized, collected, and invested in inclusive and sustainable development. International solidarity is needed to support those furthest behind.  

Development cooperation is and will continue to be a key component of supporting sustainable development in many partner countries.  The EU and its Member States are and will remain stable and dependable partners in that respect. 

It is clear however that ODA and concessional finance are but a drop in the bucket and will have to be targeted to where they are most needed. It will have to be used more effectively and efficiently. It will have to deliver impact.  And – above all else -- it will have to be used to leverage other kinds of finance, whether that is to ensure effective domestic resources or to catalyze FDI flows.    

And indeed if we look at scale and scope, private business and finance is what will go the furthest in providing decent jobs, economic transformation and ultimately domestic revenue and financing for direly needed investments.  So a question that we have to tackle in Seville is: How do we catalyze that largely untapped potential and how do we channel it towards sustainable development while strengthening social rights and protection?  

 Speaking of EU offers, the EU and its MS have put in place a complete toolbox of instruments and billions in guarantees, grants and investment, under   Global Gateway, to do just that. The commitment of our partners to the creation of mutually beneficial and transparent partnerships will be imperative to achieve results. 

Of course, there are other critical issues that need to be addressed. The EU offer to FFD4 includes a package of numerous practical solutions that would improve substantially the international debt architecture, to ensure, for one, better engagement between all stakeholders. Secondly, we need more pre-emptive actions and, finally, more timely debt treatments. We agree that the current debt challenges need to take center stage in Seville, to put the right kind of pressure on everyone, including all the major official bilateral creditors, to address these legitimate requests.

We fully understand the deep frustrations and worries of countries that grapple with unsustainable debt and lack access to affordable finance to invest in their sustainable development. .  

Creating even more uncertainty in Seville is not an option. Scrapping what we have today and starting from scratch will not deliver and we will waste valuable time and energy. 

The EU offer is to strive to agree a coherent and meaningful package of commitments – by borrowers and creditors alike - to make sure that after 3 July we do better to prevent, manage, and deal with unsustainable debt. 

We know what the difficulties of the current system are and how to solve them. So let’s deliver a package that moves us ahead, and strengthen partnerships to make our societies more peaceful, resilient and sustainable.

Colleagues, crunch time is approaching. It is time to sharpen our approach. If we try to prioritize everything, we prioritize nothing. 

Let us identify the top handful of key things that are the most critical and most likely to mobilize more domestic resources, address the plight of unsustainably indebted countries, and get private investment harnessed to sustainable development. 

And of course, make serious headway in making the international financial architecture more inclusive and effective.  

At the core of our offer stands the effort to reduce inequalities among and within countries, leaving no one behind and addressing the needs of those further behind first. We must not undermine or reverse the successes achieved with regard to the SDGs, in particular concerning human rights, gender equality, and the triple planetary crisis. 

Last but not least, as part of the “EU offer” I would like to single out the host country Spain. We are truly appreciative of their commitment and efforts to bring us together in Seville and provide leadership to bring to the table concrete initiatives and complement multilateral action with that of coalitions of the willing under the Seville Platform of Action. 

Colleagues, you will hear the ins and outs of the EU suggestions and views, our proposals and explanations over the next week during the intersessional. We remain, as always, available inside and outside the room to listen to  delegations and other stakeholders concerns and points of view. And we remain committed to ensure the success of this important process.

You can count on us.  The EU will do its part.  

Thank you.