STATEMENT ON BEHALF OF THE GROUP OF 77 AND CHINA BY THE DELEGATION OF THE REPUBLIC OF IRAQ DURING THE PERMANENT REPRESENTATIVES' SECOND INTERSESSIONAL CONSULTATIONS OF THE PREPARATORY COMMITTEE FOR THE FOURTH INTERNATIONAL CONFERENCE ON FINANCING FOR DEVELOPMENT (New York, 2 May 2025)

Co-Facilitators,

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

At the outset, allow me to thank the Co-Facilitators for ensuring an inclusive and transparent process thus far, particularly through the undertaking of line-by-line negotiations.

As we approach the Fourth International Conference on Financing for Development, the Group remains firmly committed to securing a balanced, inclusive, and action-oriented Outcome Document that responds effectively to the development priorities of our countries.

We appreciate this opportunity to contribute to the refinement of the text and to focus on bridging positions that preserve the essence of what we seek to achieve. The Group believes that the core of the Outcome Document must uphold the principles of equity, sustainability, and the right to development. While we are open to constructive dialogue, proposals must retain key elements, including reform of the international financial architecture, the fulfillment of ODA commitments, and the protection of national policy space.

The Group considers certain proposals as indispensable for the integrity and success of the Outcome Document. These include:

Reforming the governance of international financial institutions to ensure fair representation for developing countries.

- Strengthening the global financial safety net to enhance resilience and liquidity support.

- Mobilizing adequate, predictable, and concessional finance, and fulfilling the 0.7% ODA target.

- Enhancing international cooperation in science, technology, and innovation, including supporting developing countries in accessing and shaping emerging technologies such as artificial intelligence.

- Combating illicit financial flows and strengthening fiscal transparency.

- Advancing a universal, rules-based, fair, open, transparent, predictable, inclusive, non-discriminatory and equitable international trading system that promotes sustainable development.

- Lowering the cost of capital and enhancing private capital flows for sustainable development of developing countries.

- Eliminating all unilateral economic, financial or trade measures against developing countries that are inconsistent with international law and the Charter of the United Nations.

We recognize that the text, in its current form, contains areas where overlapping ideas could be streamlined. Recommendations related to private business and finance could be consolidated to avoid repetition. References to de-risking, blended finance, and investment promotion should be framed cohesively to enhance clarity and focus. This can be achieved without compromising the substance of our proposals.

Inclusivity remains a central tenet of the Group's position. The text must reflect the diverse realities and development needs of developing countries, including Least Developed Countries, Landlocked Developing Countries, Small Island Developing States, and Middle-Income Countries. These differentiated contexts must be meaningfully acknowledged and addressed throughout the document to ensure that no one is left behind.

In terms of impact, the Group stresses that commitments to voluntary rechannel of unused SDRs, enhance MDB lending, support domestic resource mobilization, and ensure the provision of additional climate finance will have the greatest effect on implementation. These measures, if realized, will directly benefit developing countries and enable meaningful progress on the ground.

The Group of 77 and China stands ready to engage with all partners in a spirit of solidarity and genuine partnership. We urge delegations to focus on achieving an outcome that not only unites us in text but delivers for our peoples in practice.

Thank you.