Mr. Chairman,

I have the honor to deliver this statement on behalf of the Group of 77 and China, regarding Agenda Item 18.

I would like to thank the Director of the Financing for Development Office for introducing the Report of the Secretary-General on the Follow-up to and implementation of the Monterrey Consensus and Doha Declaration on Financing for Development.

Mr. Chairman,

1. The Group welcomes the convening of the first informal session of the Preparatory Process for the Third International Conference on Financing for Development, which took place last week, with the objective to present the roadmap and propose a work programme of the preparatory process for the upcoming Conference.

2. The Group expresses its deep gratitude to Ethiopia for taking up the responsibility to host this important meeting in the city of Addis Ababa next year.

3. As expressed, in the first informal session, the Group of 77 and China believes that Financing for Development has a central role in the implementation of the internationally agreed development goals, including the SDGs and the Post-2015 Development Agenda.

4. In that regard, it is imperative to ensure adequate and stable means of implementation to achieve those goals, and to support the implementation of the post-2015 development agenda.

5. The Group of 77 and China remains certain that Official Development Assistance (ODA) remains essential as an instrument for development, to help the achievement of national development objectives. And that it is absolutely necessary that developed countries fulfill in good faith their ODA commitment of 0.7% for Developing Countries and the 0.15 to 0.20% to Least Developed Countries.

Mr. Chairman,

6. In this regard, the Group of 77 and China is of the view that the Third International Conference on Financing for Development, should review the progress made for the implementation of the Monterrey Consensus and the Doha Declaration, but should also focus in the reinvigoration and strengthening of its follow-up process. Monterrey Consensus must again be a central reference in this debate, taking into consideration paragraphs 68-73 of its Section entitled "Staying Engaged".

7. The Third Conference on Financing for Development must also discuss the 2008-2009 economic and financial crises and its consequences, including its impact on the implementation of the internationally agreed development goals.

8. The preparatory process for the Third Conference must also address financing for sustainable development through a coherent approach which integrates in a balanced manner all its three dimensions and inter-linkages. It must also articulate a forward-looking focus on financing the new set of Sustainable Development Goals (SDGs).

9. The G77 and China reiterates that the Monterrey Consensus and the Doha Declaration provide the conceptual framework of the Third Conference on Financing for Development. It is important that its preparatory process takes fully into account the three main Sections and six fundamental Chapters of the Monterrey Consensus, so as to better reflect the balance of commitments taken up by the international community on those issues.

10. The Group believes there is need for a strong preparatory process leading to the Conference to be held in Addis Ababa in July 2015, with active participation from the capitals, in order to achieve an ambitious outcome document.

11. Having said that, the Group reiterates its commitment and calls upon all Member States to engage in this process in a productive and dynamic way. It is the expectation of the Group that the Conference will be a timely occasion to intensify our efforts in poverty eradication and in generating inclusive and sustainable growth and sustainable development.

Thank you.