Dear Co-Chairs,

1. I have the honor to speak on behalf of the Group of 77 and China. I thank the Secretariat for providing the note on operationalization of other provisions on financial resources and mechanism under the Agreement. The Group is analyzing the note and would like to touch upon a few points in relation with the trust fund while reserving its further position on that and on the part related to the special fund and remaining sections of the note:

a) As the Group mentioned in the previous meeting of the Commission, without the participation of representatives of developing countries, the Commission could not fulfil its mandates and works; this position reflects the very fact that developing countries have contributed remarkably to the BBNJ processes, and that the Agreement itself has also recognized the special status of developing countries in conservation and sustainable use of marine biological diversity of areas beyond national jurisdiction.

b) Pursuant to article 52(4) of the Agreement, a voluntary trust fund is to be established by the Conference of the Parties to facilitate the participation of representatives of developing States Parties, in particular LDCs, LLDCs and SIDS, in the meetings of the bodies established under the Agreement.

c) We appreciate the attention made to certain details related to trust fund in the note, such as the application processes and similar logistical questions, however, we believe that major questions and challenges such as unpredictability of funds need to be also addressed. Therefore, appropriate arrangements should be made to maintain developing States' rights in this context according to the Agreement.

d) As for the suggestion made therein on consideration of limitations on access to funding for representatives of any Party whose assessed contributions are in arrears beyond a specified threshold, we are not inclined towards such limitations for developing countries.

e) In the view of the Group, supporting participation of representatives of developing countries should not be limited to ordinary formal meetings of the Conference, but it needs to cover extraordinary, intersessional, and informal meetings or other relevant meetings under the auspices of the Conference. Nevertheless, such support should prioritize the formal meetings of the Conference should there be any serious limitation in terms of funding.

f) As for the scope of financial support to be provided through the voluntary trust fund, the Group is of the view that it should cover all the necessary expenses in this regard. The Group will revert back on other possible areas that need to be covered through the voluntary trust fund.

2. We look forward to engaging in the discussion on this important item and the Member States of the G77 and China will enter into further detail.

I thank you.