Distinguished Co-Facilitators,
Colleagues,

I have the honor to deliver these remarks on behalf of the Group of 77 and China. At the outset, let me thank the co-facilitators for their hard work in this process.

The Group believes that the first draft presents a good basis for further discussions and took on board some of the suggestions that we have shared earlier.

Therefore, our comments today will not only try to strengthen existing elements in the first draft but will also reiterate the elements that have not been included.

Keeping in view the time limits, I will only highlight certain aspects of our inputs as the rest has been submitted to you.

Co-Facilitators,

1) We are deeply concerned about the growing SDG financing gap that has risen to 4 trillion USD annually. For that reason, we support the inclusion of this data in paragraph 5 and reiterate our support to the call on the international community to urgently take actions to implement the SDG Stimulus in a time bound manner which is of the upmost importance for developing countries and the implementation of the SDGs.

2) We support the addition of paragraph 4 as it sends a strong political message in line with the momentum to recognize that achieving the Sustainable Development Goals is intrinsically linked to the successful implementation of the Addis Ababa Action Agenda on Financing for Development.

3) In the cross-cutting issues chapter, we welcome and support the inclusion of p. 7 which reaffirms that eradicating poverty in all its forms and dimensions is the greatest global challenge and an indispensable requirement for sustainable development.

4) In paragraph 8, we propose to include a reference to ¨the right to development¨ and as part of the actions we propose to add the need to ¨advance fully towards an equitable global economic system in which no country or person is left behind¨ as it is recognized in the Addis Ababa Action Agenda.

5) We appreciate the inclusion of a paragraph on huger and food security and we have resubmitted an additional paragraph on that matter.

6) We have submitted a paragraph to recognize the G20´s proposal to create a Global Alliance against Hunger and Poverty to support and accelerate efforts to eradicate poverty and hunger.

7) Regarding p.12, the Group proposes to maintain the language agreed in last year's outcome document of the FfD Forum. We have submitted amendments in this respect.

8) In paragraph 13, for the Group is key to reiterate that climate finance is different from Official Development Assistance (ODA) and to urge developed countries to fulfil their obligations on the provision and mobilization of new, adequate and predictable resources to developing countries. We also insist on specifying that the Paris Agreement was adopted under the UNFCCC.

9) In paragraph 14, the Group has resubmitted language to recognize also the need to ensure the fair and equitable sharing of benefits from the use of genetic resources and to emphasize the importance of urgently increasing the mobilization of financial resources to developing countries from developed countries.

10) In the domestic public resource chapter, we note that while you took on board our proposals, the Group believes some important elements in some paragraphs are still missing. We, therefore, intend to reintroduce them.

11) On paragraph 22, we believe that the paragraph could benefit by including elements relating to impact assessment on gender equality and the empowerment of women and girls in relevant budget policies. In this regards, we propose the following language "as well as the importance of conducting impact assessments on gender equality and the empowerment of women and girls in relevant budget policies, taking into account national circumstances". This should be placed at the end of the paragraph.

12) We reiterate that the first sentence in paragraph 23 should align more tightly with the source of the language, that is page 40 of 2024 FSDR. The first sentence of the paragraph should therefore read as follows: "We acknowledge that globalization and digitalization have fundamentally altered the taxation landscape, motivating more focus on international taxation in the financing agenda". Similarly, we believe that the last part of the paragraph should also align with the source of the language. Therefore, the sentence should read as follows "We reiterate that international tax rules must respond to the needs, priorities and capacities of all countries and appropriately address the ways in which modern markets operate and business is done, as part of the reform of the international financial architecture. (Source: 2024 FSDR, p. 40; A/RES/78/230, PP 14)

13) We believe there is the need to strengthen paragraph 24, by reintroducing the Group's language which stresses that the current international tax governance structures need considerable improvements.

14) On paragraph 26, the Group requests the deletion of references to the Global Forum on Transparency and Exchange of Information for Tax Purposes. We believe that it is important to maintain a broad reference to international tax and financial transparency instruments and mechanisms without singling one mechanism as this may lead a listing of other instruments and mechanisms.

15) In the chapter on domestic and international private business and finance, the G77 and China believes that it is important to keep ensuring the balance in this section.

16) The Group calls for the deletion of paragraph 30. We think is unbalanced when it comes to developing countries.

17) The Group would like to reiterate our call to include an additional paragraph on the unbalanced growth in investments particularly in clean and renewable energy, that is mainly concentrated in developed countries.

18) In the chapter on international development cooperation, the Group reaffirms that official development assistance (ODA) remains essential as a catalyst for financing sustainable development and advancing the achievement of SDGs in developing countries. The persistent decline in ODA reflects a concerning trend in international cooperation towards sustainable development.

19) Along with other major development challenges faced by developing countries, unfulfilled ODA commitments continue to exacerbate the growing challenges faced in the areas of poverty, hunger, health, education, and the environment. The Group reiterates that GNI in ODA has rarely been met in more than 50 years, therefore it is imperative to address the impact of declining ODA commitments on challenges in both development and financing.

20) The Group also reaffirms the importance of North-South cooperation as it also remains a fundamental catalyst to sustainable development. As North-South cooperation is the main channel of development financing, the international community must uphold the principle of "common but differentiated responsibilities" (CBDR) in addressing a fair and equitable distribution of financial resources to support sustainable development efforts.

21) While noting the ongoing discussions on measuring commitments and mobilizing resources, the Group emphasizes the importance of building on already adopted indicators, namely indicator 17.3.1, without prejudging ongoing or pending discussions on other potential measurements.

22) Lastly, the Group emphasizes the need to reflect language regarding the decision on the establishment of a high-level group of experts as a fundamental step to advance the selection of multidimensional indicators to complement or go beyond GDP to better address progress and development.

23) In the section on international trade as a driver of development, we welcome the additional language emphasizing the need for progress towards the reform of the WTO, as well as acknowledging the importance of accessions in strengthening the multilateral trading system.

24) Regarding paragraph 58, we respectfully request the removal of the recent addition. The rationale is unclear, and the phrasing could have benefited from further refinement for clarity.

25) The title of this chapter is 'International Trade as a Driver of Development,' and we strongly assert that unilateral economic, financial, or trade measures hinder the efforts of developing countries in achieving the objectives of the 2030 Agenda. Immediate action is crucial to eliminate these measures and address imbalances within international financial institutions. These actions contravene the principles of the UN Charter and international law, while threatening trade and investment freedoms. Therefore, we have submitted additional language on this issue alongside paragraph 65.

26) We have reintroduced our previously proposed changes to p.65 to make it more action-oriented and emphasize the significance of the subject. We also request the removal of the brackets, as the text is based on p.30 of the 2030 Agenda, a language that have been previously agreed upon by all Member States.

27) In the debt and debt sustainability chapter, the Group appreciates the work of the co facilitators.

28) On paragraph 66 the Group cannot go along with the mention to "cases of unsustainable" when we refer to debt service burden, but will propose alternative language in order to move forward constructively.

29) On paragraph 67 the Group reiterates its previous inputs to the zero draft.

30) On paragraph 68, the Group notes it is new language and considers to engage in this issue based on agreed language. Therefore, the Group proposes to use language from paragraph 65 of the 2023 FFD outcome regarding debt transparency.

31) Regarding paragraphs 69, 70 and 71, the Group appreciates and supports its inclusion in the Debt Section and sees the added value of emphasizing the need for multilateral debt mechanisms, among other important aspects of these paragraphs. The Group notes that these paragraphs are based on previous agreed language.

32) On paragraph 72 the Group reiterates its inputs sent to the zero draft.

33) On paragraph 73, the Group appreciates that comments made in the zero draft were taken on board, and will propose to "Reaffirm the urgent need for scaling up debt swaps" instead of "Calling".

34) The Group values paragraphs 74 on state-contingent debt instrument, and considers that the paragraphs will be benefit if we add a reference to countries hit by shocks "with direct impact on its GDP growth prospects".

35) Finally, the Group supports paragraph 75 as presented in the rev 1 document.

36) In the addressing systemic issues chapter, the Group continues to support the paragraphs on the reform of the international financial architecture, as well as the references to the international financial institutions and multilateral development bank reform. We reiterate that the international financial architecture, including its business models and financing capacities, must be made more fit for purpose, equitable and responsive to the financing needs of developing countries, to broaden and strengthen the voice and participation of developing countries in international economic decision-making, norm-setting, and global economic governance.

37) In paragraph 79, we have resubmitted some additions to recognize that the selection of heads, management and staff of the international financial institutions should also be based on competence and equitable geographical representation.

38) In paragraph 80, we are resubmitting language calling on all countries to urgently redeem their unfulfilled pledges to re-channel $100 billion in SDRs in a timely manner, including through MDBs, and encouraging developed countries to make additional commitments. We insist on recognizing the importance of catalyzing the potential of special drawing rights as a source to finance sustainable development.

39) In paragraph 81, we insist on requesting to the IATF to report to the ECOSOC on the status of this discussion. The Group also proposes to urge the IMF to suspend the surcharge policy charge with immediate effect.

40) In this chapter, we are resubmitting a paragraph calling for the reduction of borrowing costs for developing countries by establishing a public credit rating agency or modifying the role of existing credit rating agencies to foster a more development friendly investment environment.

41) In the science, technology, and innovation section, we express our appreciation to the co-facilitators for taking into consideration the Group's input, including to place the urgency of enabling STI development and investment in STI as a primary thrust of the section.

42) We welcome the action-oriented language on bridging the digital divide, including to acknowledge the major impediments that developing countries face in accessing new technologies and digitalization. It is important that we recognize these impediments so that we are able to devise approaches to resolve them, towards creating an enabling environment for STI development.

43) In the data, monitoring and follow up section, the exact nature and modalities of the envisioned 'Financing Indicator Framework' is still unclear to the Group, including how this will interact with existing frameworks. It is ambiguous, even with the current formulation at paragraph 96, how this framework will complement the SDG indicator framework and the work of the UN Statistical Commission. While we note the importance of considering approaches to improve data monitoring and indicators for financing and SDG implementation, the Group's preference is not to prejudge by including a reference to a framework in the document, until Member States have had the opportunity to further discuss the various approaches.

44) As we heard from various Member States during the first informal consultations, the Group reiterates our preference to not have the FFD Forum in April 2025 produce intergovernmentally agreed conclusions and recommendations given its proximity to the 4th International Conference on FFD in July 2025. We thank the co-facilitators for reflecting this accordingly.

Thank you.