Thank you, Co-Chairs.

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

At the outset, I would like to sincerely thank the co-facilitators for their tireless efforts and the transparent, inclusive, and line-by-line negotiation process that led us to this outcome. We recognize the complexity of the task and appreciate the balance you have sought to achieve in the final text.

The Group supports the adoption of the outcome document. While it is not a perfect reflection of all our priorities, it does represent a forward-looking and constructive step in many critical areas of financing for development. particularly for the Global South, to address the financing gap, advance the reform of international financial architecture, and to accelerate the achievement of 2030 Agenda.

The Group is pleased that the document confirms that there is a 4 trillion-dollar financing gap, and that it commits to take concrete actions to close this gap with urgency, by providing and mobilizing additional, innovative, adequate, affordable, predictable, and accessible financing for developing countries.

On the global financing framework section, the Group highly appreciates the inclusion of the reference to the principle of the Rio Declaration on Environment and Development, in particular the principle of CBDR, as well as the acknowledgement of "right to development" principle which are foundational for financing for development. At the same time, however, the Group regrets the omission of the previously agreed commitment to leave no country or person behind-a guiding principle under the FfD framework that we believe must continue to guide us all.

On domestic public resources action area, the document offers a balanced and enabling framework that values both country ownership and international cooperation. It rightly recognizes that international tax cooperation must evolve to reflect the realities of developing countries, particularly LDCs, LLDCs, SIDS, and MICs, as well as those in conflict and post conflict situations. The reaffirmation of national sovereignty in fiscal policymaking further strengthens this section.

On private sector finance, we welcome the strong recognition of the need to mobilize additional private resources at scale and speed for developing countries, and the concrete steps to support MSMEs through regulatory reform. The call to enhance FDI in developing countries, aligned with national priorities, including in infrastructure and renewable energy, is timely and relevant.

We also appreciate the language reaffirming the positive role of migrants and remittances, and the importance of reducing transaction costs, while maintaining that these are not substitutes for ODA and FDI. The support for domestic capital market development through innovative and thematic instruments, project pipeline building, and guarantees through MDBs to catalyze private finance are also notable achievements.

On International Development Cooperation, we welcome the reaffirmation of ODA as a central pillar of international development cooperation as well as the commitments to increase grants. This requires reinvigorating the development cooperation architecture that honors country ownership and leadership, with a strong focus on results, inclusive partnerships, transparency, and mutual accountability, recognizing the complementary roles of all actors at all levels.

The Group values the reaffirmed central and coordinating role of the UN in international development cooperation, and the commitment to revitalize the Development Cooperation Forum (DCF).

We also highlight the Group's flexibility in referencing the upcoming OECD-DAC review process and call for that process to be inclusive, transparent, and responsive to developing countries' concerns, with its recommendations to be presented within the UN framework.

While the Group deeply regrets the omission of explicit reaffirmation of climate finance obligations under the UNFCCC and the Paris Agreement, and of an explicit reference to the CBDR-RC as a guiding principle of climate action, we appreciate the balanced approach taken in the climate finance section, avoiding reinterpretation of COP decisions.

On trade, we welcome the call to Member States to refrain from promulgating and applying any unilateral economic, financial or trade measures not in accordance with international law and the Charter of the United Nations that impede the full achievement of economic and social development, particularly in developing countries. The Group reiterates that all unilateral coercive measures must be eliminated if we aim to achieve an international economic order that promotes development and economic growth.

At the same time, we regret that key priorities of the Group were not retained in the final text, including references to non-tariff measures, the developmental impact of environmentally motivated unilateral trade actions, and our proposal on investment agreement reform aimed at aligning international investment frameworks with the Sustainable Development Goals. The removal of language inviting ECOSOC to examine the impact of unilateral measures is also a missed opportunity for multilateral reflection and accountability.

On systemic issues, we welcome the reaffirmation of the need to enhance the voice and representation of developing countries in IFIs, and regret the persistent siloed approaches that undermine the UN's critical role in sustainable development and global economic governance.

We acknowledge the Compromiso de Sevilla as a modest step toward improving the global financial safety net. Nonetheless we remain disappointed at the lack of political will to advance meaningful solutions such as annual SDR allocations for development or the establishment of a multilateral swap line for developing countries facing crises.

We note the progress on financial regulation, particularly on credit rating agencies, and hope that the agreed special meetings will lay the foundation for more concrete multilateral initiatives. We also expect the forthcoming ECOSOC report on risk weightings to trigger substantive discussions toward removing regulatory barriers to investment in developing countries.

We commend the recognition of STI's vital role in bridging the financing and digital divides. We stress the need for scaled-up finance for STI to match the ambitions expressed in this document, and to provide developing countries the agility to address future challenges.

We also welcome the robust set of deliverables that build upon the Addis Ababa Action Agenda, acknowledging that while greater ambition was needed, this document should be seen as a foundation for further action, not a ceiling.

The G77 & China has negotiated in good faith throughout the process. We commend all delegations for their constructive engagement and flexibilities exhibited throughout the process. We therefore stress the need for us to avoid goal-shifting, misrepresenting references, and the creation of unilateral packages as this only serves to undermine the multilateral spirit of processes.

In conclusion, the Group of 77 and China endorses this outcome document, recognizing its potential to advance the global financing for development agenda, and we look forward to its meaningful, full and timely implementation.

Thank you.