1. This statement sets out the preliminary views of the Group of 77 and China on the preparations for the 2020 Forum on Financing for Development Follow-up (FFDF). The Group wishes to express its solidarity with all countries, communities and persons affected by the COVID-19 pandemic. We extend condolences to those who have lost loved ones in these difficult times.

2. We commend the co-facilitators for their leadership on the important issue, at a most critical time. Our group has deliberated extensively on this matter, guided by the current situation brought on by the COVID-19 pandemic, and the need to clearly anticipate its impacts on the follow-up to the Addis Abba Action Agenda and the 2030 Agenda for Sustainable Development.

3. Our Group is strongly of the view that the critical work of providing policy guidance and addressing priorities must continue in and be responsive to crises. We must, therefore, be able to take stock of progress in implementing the Addis Ababa Action Agenda. We should also anticipate the challenges that lie ahead and identify actions that might be needed through the Addis Agenda, to respond to such challenges.

4. Against this backdrop, we are strongly opposed to the notion of a procedural outcome document for the 2020 FFD Forum. We believe that now more than ever, there is need for a concise, action-oriented and substantive outcome that would focus on key policy issues aligned to important recommendations in the 2020 FSDR, and the seven action areas of the Addis Agenda.

5. We recognize the prevailing constraints to negotiating the standard outcome in the usual way. We acknowledge that having a technical discussion and receiving inputs from capitals might be difficult as most of our countries are focused on combating COVID-19. However, we believe that we must remain focused on upholding multilateralism and responding positively to current and future challenges.

6. Our Group believes that in a concise outcome document a strong mandate should be given for the Inter-agency Task Force on Financing for Development (IATF) to undertake a deeper analysis of the longer-term effects of COVID-19 on the follow-up to the Addis Agenda, in its 2021 report, particularly with respect to progress at the national, regional and global levels. We also believe that the outcome document could welcome the launch of initiatives aimed at supporting countries affected by COVID-19 and call for their rapid and full establishment.

7. The outcome document should reflect the international community’s engagement to mitigate the economic and social consequences of COVID-19 through support to build resilient health systems and protect employment and incomes. Furthermore, the increasing vulnerability of developing countries to external shocks, such as COVID 19, and the impact of disasters and climate change, require international assistance for institutional strengthening and capacity building, as well as a supportive international economic environment, which are essential for achieving the SDGs. We stress the importance of access to concessional finance for developing countries, particularly for Disaster Risk Reduction (DRR) and resilience, including epidemic and pandemic prevention and preparedness. We reiterate the importance of enhancing access to climate finance and for countries to develop preventive disaster risk reduction financing strategies.

8. The burden of unsustainable external debt is a major development challenge that should be addressed in the light of COVID-19 and beyond. A call should be made to all creditors to provide rapid solutions to this issue, especially in the context of global and national emergency situations in the social, economic and environmental domains, to develop and implement more responsible lending. Developing countries already facing deteriorating debt positions will not have the reserve cushion to withstand the impact of these shocks which necessitate an urgent mobilization of funds to address their debt relief needs. In addition, the current impasse in global trade flows continues to negatively impact developing countries and should be addressed with urgency.

9. Our Group believes that other critical issues to be reflected in a concise outcome document should include concerns about the need to tackle illicit financial flows and assets return. Furthermore, greater international support is needed to assist developing countries hosting refugees and displaced persons, and whose economic and social capacities have been overstretched. Additionally, the principle of no one or country left behind, must be reiterated in the outcome document. The group also highlights the importance of internationally agreed guidelines for smooth transition measures for countries which graduate from LDC category.

10. The G77 and China note the important progress in building coordinated international partnerships to address the 2030 Agenda and the SDGs. We share the view that the role of partnerships in achieving the SDGs is especially critical at this juncture. Development banks continue to play an important role in supporting implementation of the 2030 Agenda. This role can be further strengthened by additional efforts to align their work with the 2030 Agenda. The private sector can continue also to play a key role in facilitating economic growth, poverty reduction and development in developing countries. We reiterate the importance of North-South cooperation as the main channel for international development cooperation, and South-South cooperation as a complement to and not a substitute for North-South cooperation.

11. The Group recognizes the importance of addressing the diverse needs and challenges faced by countries in special situations, in particular African countries, least developed countries (LDCs), landlocked developing countries (LLDCs) and small island developing States (SIDS), countries in conflict and post-conflict situations, and countries and peoples under foreign occupation, as well as the specific challenges faced by middle-income countries.

12. Concerning the Roadmap for the FFD process, we support the proposal by the ECOSOC Bureau to postpone the FFD Forum to a future date. We also agree that the format for a future meeting could be short, with the primary focus on adoption of a concise, substantive outcome. However, we urge that work should begin immediately on the finalization of the outcome document, in anticipation of a date for the meeting.

13. We are of the view that a one-day meeting in June or July would be feasible, but we remain flexible on this as well as the format for the meeting. We also believe that the substantive matters we have outlined for a concise outcome would be possible.

14. We look forward to further discussions on the way forward. The Group shares the view that a new timeline should be determined after consultations with States.