Co-Chairs,
Distinguished Delegates,

I have the honor to deliver this statement on behalf of the Group of 77 and China.

At the outset, the Group wishes to reaffirm the critical importance of this Preparatory Committee meeting as a step toward shaping an ambitious, balanced, and actionable outcome for the Fourth International Conference on Financing for Development. The context in which we meet is one of profound global challenges, particularly for developing countries, a world facing deepening inequalities, rising poverty, increasing geopolitical tensions, climate risks, and a widening SDG financing gap, now estimated at over $4 trillion annually.

For the Group, a renewed Global Financing for Development Framework must respond to these urgent realities with bold commitments and practical solutions that reflect the needs and aspirations of developing countries. We wish to highlight three fundamental priorities:

1. Reform of the International Financial Architecture:

The current system has failed to deliver adequate, predictable, and equitable financing for sustainable development. The G77 and China call for inclusive and transparent reform of the governance of international financial institutions, including the IMF and the World Bank, to ensure that developing countries have a stronger and meaningful voice and representation. This includes reforming the global financial safety net, improving access to Special Drawing Rights, and revisiting global financial regulations to decrease the cost of capital for the Global South.
In this regard, the Group underscores the important role of the United Nations in global economic governance, as the most universal and inclusive multilateral forum, in setting norms and ensuring that reforms to the international financial system are aligned with the principles of equity, fairness, and sustainable development for all.

2. Bridging the SDG Financing Gap:

The widening financing gap continues to undermine our collective ability to achieve the 2030 Agenda for Sustainable Development. Bridging this gap requires, first and foremost, the fulfillment of ODA commitments of 0.7% of GNI by developed countries, in accordance with their longstanding obligations. In addition, there is a need for scaled-up and better-aligned South-South cooperation, which should complement and not replace North-South financial flows. Efforts must also be intensified to support debt sustainability through fair, timely, and development-oriented debt restructuring mechanisms, while addressing the challenges posed by illicit financial flows. Furthermore, strengthening international tax cooperation, within a truly inclusive framework, is essential to ensure that developing countries can mobilize domestic resources effectively and equitably.

3. Respect for Sovereignty and National Ownership:

Any renewed framework must respect national development priorities, policy space, and the right of each country to pursue its own path to sustainable development, in line with the UN Charter and the outcomes of Monterrey, Doha, and Addis Ababa.

Co-Chairs,

The Group urges all partners to engage with flexibility and a spirit of solidarity, so that Seville delivers concrete outcomes on reforming the global financial system and mobilizing the necessary resources for development.

Thank you.