Mr. President,
Excellencies,
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 express its appreciation to the Co-facilitators for their efforts in steering the intergovernmental consultations, as well as the President of ECOSOC for his leadership throughout this process.

In this First Forum following the adoption of the Sevilla Commitment, we wish to highlight that transforming this document into a lived reality requires sustained political will. In this regard, the G77 and China is ready to be a constructive partner in shaping the post-Sevilla landscape.

We reaffirm that the Compromiso provides a renewed global framework for financing for development to realize sustainable development -in its social, economic and environmental dimensions- with concrete policies and actions. We underscore the importance of the timely and effective implementation of the Sevilla Commitment across its seven action areas, providing a renewed impetus for international cooperation and sustainable development.

Regarding the Global Financing Framework, we acknowledge that we meet at a moment where geopolitical tensions and conflicts threaten to deliver new shocks to an already fragile global economy. The Group is deeply concerned by the 23.1 per cent real-term contraction of Official Development Assistance in 2025, disproportionately impacting Least Developed Countries. To realize the 2030 Agenda, we must act with urgency to close the estimated 4 trillion US dollars annual financing gap.

Mr. President,

We recognize the relevance of this First Follow-up Forum as an opportunity to take stock of the progress made on the relevant Action Areas under in-depth review, as well as on issues of relevance to developing countries.

Regarding domestic and international private business and finance, the Group is heartened to see reflected specific pathways to increase private capital mobilization deriving from the mandates from the Sevilla Commitment, including ideas on how to deepen domestic capital and financial markets and references to concrete investment platform initiatives. We have heard this week from various panels, including from the private sector, on both the imperative and willingness to strengthen public-private partnerships and create enabling environments for the private sector participation to serve national priorities. We hope to build and further reflect on these concrete ideas when this section is again under in-depth review in 2028.

On international trade as an engine for development, the Group is pleased to see that the Document includes mentions both current challenges and emerging opportunities in the trading system. While we maintain that there should be a more detailed focus on the negative impacts of trade barriers and the increasing use protectionist measures that hinder trade flows, we appreciate the inclusion of references to the impacts of these measures, as well as to the growing role of regional and South-South trade in helping to offset these pressures. We also welcome the call to Member States to refrain from adopting unilateral economic, financial, or trade measures that are inconsistent with international law. We look forward to further building on these elements and deepening the treatment of these issues in future iterations of this section.

With regards to International Financial Architecture and systemic issues, the Group remains committed to the continuous adaptation of this architecture to ensure it is aligned with sustainable development and the evolving needs of developing countries. While we recognize ongoing institutional reforms, we stress the importance of making global economic governance more inclusive and representative, particularly by broadening the voice of developing countries in norm-setting and decision-making. We welcome the agreement on the Diriyah Guiding Principles for IMF quota reform and the decision to allow Special Drawing Rights to be used for hybrid capital instruments.

Concerning the Data, Monitoring and Follow-up section, the Group welcomes the reaffirmation of fundamental commitments. However, greater ambition with respect to implementation would be desirable. Nevertheless, the progress achieved in developing complementary measures of development, as well as in the submission of South-South Cooperation data, is welcomed and constitutes an important step forward.

On Debt, the Group recalls paragraph 50(f) of the Seville Outcome, which calls for an intergovernmental process on debt under the United Nations -involving all relevant stakeholders- as we look forward to the 2027 FfD Forum, where we will carry out a comprehensive review of the Debt and Debt Sustainability Action Area.

Mr. President,

Less than one year after the adoption of the Sevilla Commitment, the Group expected a more focused, impactful and action-oriented document that would help advance the implementation of the Compromiso while building on the progress already made.

Throughout the consultations, the Group remained ready to engage constructively and negotiated in good faith. We approached the negotiations with the objective of reaching an ambitious and meaningful document that addresses the urgent financing needs of developing countries, in particular through the in-depth review of the Action Areas mandated by the Sevilla Commitment.

The Group repeatedly requested line-by-line negotiations, or a similar approach, that would provide delegations with adequate time to introduce their proposals and respond to others, while allowing for sufficient consultations and coordination. This request was not accommodated, and insufficient time was allocated for substantive discussions. Combined with unexpected changes to the original timeline, this hindered delegations' ability to engage in the thorough and substantive deliberations that a document of this caliber requires.

A transparent, predictable, and inclusive process is not a mere formality, but a requirement for building the trust and consensus necessary to tackle the existing global financial challenges, and reach the level of ambition that the global economic situation demands.

Regardless, the Group of 77 and China has joined the consensus today for the adoption of this Outcome Document, based on a steadfast commitment to the Financing for Development process and the multilateral system.
 
Mr President,

While the Group can live with the text being adopted today, and recognizes the efforts made by the co-facilitators to address the Group's priorities, it is far from the outcome we had envisioned or hoped for, in order to effectively implement the commitments made last year in Sevilla.

In conclusion, Mr. President, we look toward the future milestones of the FfD process with the expectation that the promises made in Sevilla will be translated into tangible outcomes that leave no one behind.

I thank you.