Dear Co-Chairs,

1. I have the honor to speak on behalf of the Group of 77 and China. We would like to thank for the documents A/AC.296/2026/5 on the Voluntary Trust Fund and A/AC.296/2026/6 on the Special Fund. In this regard, the Group would like to offer the following observations:

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) In our view, the trust fund should cover the attendance costs of representatives from developing countries at all meetings of the Conference of the Parties and its subsidiary bodies. These include ordinary and extraordinary meetings of the Conference of the Parties, meetings of bodies established under the Agreement, as well as informal meetings and other relevant meetings held under the auspices of the Conference of the Parties-such as ad hoc groups, working groups, and subcommittees established under subsidiary bodies.
     
d) 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.

e) We believe that it is crucial that the Preparatory Commission have a scheduled discussion on the operationalization of the Special Fund. The Group is of the view that discussion on the special fund could be more pragmatic to ensure that important aspects of these matters are duly addressed in the Commission. Scope and guiding principles and modalities for the Special Fund are important, nevertheless it is also of utmost importance to ensure that any arrangement for this Fund could support capacity-building projects under the Agreement and assist developing States Parties in implementing the Agreement. In our view, discussions on the Special Fund needs to be expedited so as to ensure that it is operationalized as soon as possible.

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.