Excellencies,
Ladies and Gentlemen,

I have the honour to deliver the statement on behalf of G77 and China.

The world today is confronted with interlinked crises of Conflict, Climate Change and Environmental Degradation, as well as the socio-economic downturns caused by the COVID-19 pandemic, aggravated further by an increase in global inflation, which rose to a decade high-level of 5.2% last year.

Painfully the developing countries are impacted disproportionately particularly because of unsustainable debt burden that many of them have accrued right now.

To confront these challenges, we need a transformative vision, a strong expression of global solidarity, and a collective will to support the national efforts of developing countries to build resilience against future shocks.

The Group of G-77 and China suggests that our collective “call to action” to deal these challenges should:

First, enhance cooperation, collaboration and coordination of development activities especially for those countries that are either facing humanitarian emergencies or are in conflict situations.

Second, scale up climate resilience across food systems, in line with national priorities/strategies and circumstances while recognizing that there is no one one-size-fits-all solution.

Third, rationalize international agricultural trade including by addressing huge agricultural subsidies provided by certain richer economies that not only distort global markets but also make it impossible for farmers in the developing countries to compete.

Fourth, focus on flexibility and speed to ensure the timely provision of emergency concessional financing, including grants, with an emphasis on ensuring net – positive resource transfers to countries experiencing social and economic distress.

Fifth, meet external financing needs of developing countries especially in the form of extraordinary emergency measures for countries in, or at high risk of, debt distress.

Sixth, the bulk of the historic allocation of US$ 650 billion SDRs has gone to developed countries. We must aim to channelize at least US$250bn of US$650bn to address the liquidity crisis in developing countries.

Seventh, fulfill developed countries’ commitment to provide $100bn per year towards climate finance and start discussions for climate finance beyond 2025 from the floor of $100bn.

Eighth, fulfill ODA commitment of 0.7 per cent of GNI, as well as protect current shares of assistance to developing countries.

Ninth, scale up investments in sustainable agriculture infrastructure – to facilitate transport, production and distribution of agricultural inputs and food products.

The Group is greatly concerned about the visible trend of major cuts in core allocation for development that impedes the critical role of UN Development agencies to support efforts of developing countries in achieving the SDGs.

Cutting funding for development and defunding the key development agencies of the UN system is the opposite of what the world needs at the moment.

Lastly, the Group also likes to reiterate that the mandates set by the General Assembly in the QCPR must be fully adhered to and implemented by the UN Development System. Executive Boards need to play their oversight and guidance role to ensure compliance with the agreed mandates and ensure that the UN entities potential and capabilities are strengthened and fully realised.

In this critical context, when the developing countries are grappling with the triple crisis, the time is for action and strengthening of the Development Pillar of the UN Development System is essential.

I thank you.