The informal consultations on the outcome document concluded last week and throughout these consultations, the Group engaged in good faith with the sole objective of ensuring that the outcome document is adopted by consensus as it has been the case since the Forum's inception in 2016. In this regard, the Group despite having concerns on some issues fully supports the final draft outcome document of 2024 ECOSOC FFD circulated by the President of ECOSOC on Thursday 18th April 2024 and 23rd April 2024 considering that the text is balanced.

Excellencies,

The Group regrets that an amendment has been submitted to delete paragraph 72 of the final outcome document, which was previously agreed upon by consensus at the highest political level. The Group recognizes the interlinkage between the unilateral measures and achievement of sustainable development. Developing countries that are under these unilateral measures continue to face challenges to achieve full economic and social development and are being left behind. Additionally, in the context of international trade and financing for development, the application of unilateral economic measures presents complex challenges.

Unilateral economic, financial, or trade measures, invariably disrupt trade flows, exacerbate poverty, and hinder development efforts in targeted countries. Moreover, such measures constitute a violation of the principles outlined in the Charter of the United Nations and international law, as well as the values of multilateralism and fundamental norms of international relations. In this regard, the G77 and China fully endorses the inclusion of this paragraph in this final outcome in fulfillment of our pledge of leaving no country or person behind.

The Group expresses its disappointment at this proposed amendment that undermines the commitment made by all our leaders in 2015 and the integrity of the 2030 Agenda for Sustainable Development as well as efforts to accelerate action to achieve the Sustainable Development Goals whose progress remains largely offtrack, particularly in developing countries. It also undermines the Addis Ababa Action Agenda commitment to leave no country or person behind. In this regard, the Group calls for a vote on this amendment and urges all delegations to vote against it. In addition, we urge all delegations to vote in favor of retention of paragraph 72 and the whole outcome document incase voting is requested for. The Group wishes to state that this verbatim language from the 2030 Agenda remains agreed and any attempts to change this shall not be accepted.

Excellencies,

The Group appreciates the efforts by the Co-facilitators and President on the SDGs Stimulus proposals. However, we note with deep concern that silence was broken on the formulation by the Co- facilitators on taking actions by the international community to implement the SDG Stimulus considering that some of these Stimulus proposals are already being implemented. This formulation was a step forward as agreed in the 2023 SDG Summit Political Declaration.

We also note with concern that silence was broken on paragraph 27 over language supporting the outline, modalities, and work of the Ad Hoc Committee to Draft Terms of Reference for a United Nations Framework Convention on International Tax Cooperation. Particularly after it was adopted by consensus in February's organisational session of the ad hoc committee. Walking back on decisions made by consensus in the ad hoc committee, does not send the right message, particularly ahead of the first session of the ad hoc committee, which starts tomorrow. We reiterate our support to the work of the Ad hoc committee and urge all Member States, to work constructively in the processes towards the development of a UN Framework Convention on International Tax Cooperation.

The Group regrets that the silence procedure was also broken on the 21st IDA replenishment. We reaffirm our call for the replenishment to be the largest ever, aiming to significantly contribute to the eradication of poverty and the achievement of sustainable development in developing countries.

Excellencies,

On international trade, we appreciate efforts made by the co- facilitators to present balanced language in this section. However, the Group had hope that the language in paragraph 66 of the final document circulated on 18th April 2024 could have been retained and included. While fully acknowledging the critical importance of addressing climate change, we reaffirm the imperative to ensure that such actions taken to address climate change, whether undertaken unilaterally or collaboratively, do not unfairly discriminate against any trading partners or serve as disguised barriers to international trade.

On the debt and debt sustainability, we believe that the document brings out important elements to move forward the discussion, in particular the commitment to seek solutions to the challenges of high borrowing costs and debts service burdens through actions and reforms to strengthen debt crisis prevention, support countries that face severe fiscal constraints and improve multilateral debt mechanism; as well as the concern that high debt service burdens and higher interest rates are crowding out vital investments and constrain progress towards the SDGs due to the reduction of available fiscal space.

The Group emphasizes the importance of the need for multilateral debt mechanism to fully address sovereign external debt distress and provide an effective, efficient, equitable and predictable mechanism for managing debt crises in view of the development needs of developing countries. The Group also emphasizes the importance of the agreed language on the role of debt relief, including debt cancellation, and debt restructuring as debt crisis prevention, management and resolution tools, that was included in the rev 1 document. This language was finally not incorporated in the final version.

The Group takes note of paragraph 77 on debt management and debt transparency as relevant elements for this section. However, we acknowledge that there was no engagement on the drafting process of this paragraph during the informal consultations, unlike the other paragraphs where work was done between delegations. The Group will have to assess the language in this paragraph for upcoming discussions and may come back with alternative proposals in the future intergovernmental processes.

Excellencies,

On addressing systemic issues, the Group supports paragraphs 84 and 85 on the reform of the international financial architecture and look forward to further discussions on this topic in the IV Conference with the aim to have a system that responds to the financing needs of developing countries. On paragraph 87, the Group insists that the selection of the heads, management and staff of the international financial institutions should also be based on equitable geographical representation to broaden and strengthen the voice, participation, and representation of developing countries in international economic decision-making, norm-setting and global economic governance.

On paragraph 89, the Group was expecting more ambition and a recognition that the progress in re-channeling has been slow. The Group reiterates its call on all countries to urgently redeem their unfulfilled pledges to re-channel $100 billion in SDRs in a timely manner, including through MDBs, and encourage developed countries to make additional commitments. We stress the importance of catalyzing the potential of special drawing rights as a source to finance sustainable development.

On paragraph 90, the Group while welcoming its inclusion, regrets that there was no appetite to follow up the discussions on the surcharge policies, including a direct request for information on the subject. The Group insists on its call on the IMF to suspend the surcharge policy charge with immediate effect.

The Group is pleased with the balance that has been achieved on the section on Science Technology and Innovation and on Data, Monitoring and Follow Up. We thank delegations for their flexibility and hope that all delegations will make every effort to implement actions to achieve the enabling environments and data-driven policymaking as outlined in these sections, to reduce digital divides and harness international cooperation toward achieving the SDGs. We look forward to the convening of the 10th ECOSOC FFD Forum next year, and hope that we can continue the momentum on many of the important issues we have discussed this past week.

Finally, the Group fully supports the adoption of the final outcome document to ensure that financing for development remains integral to the development agenda and to promote greater solidarity and cooperation as preparations continue for the next International Conference, with the ambition of leaving no country or person behind. The political commitment and will by all of us to take urgent actions to address financing for development remain critical in accelerating actions at all levels to achieve the SDGs.

I thank you.

The Group of 77 and China thanks the delegation of Singapore for chairing the negotiations on the draft resolution and wishes to take this opportunity to reiterate its thanks to all delegations for their positive and constructive engagement, which has resulted in a balanced text. In the course of the negotiations, we listened carefully to all proposals and ideas expressed by delegations.

On the issues of participation and decision-making in the preparatory commission, careful consideration was given to all views on the approach reflected in the zero draft of the resolution. We would like to highlight the importance to ensure that the participation and decision making in the preparatory commission be open, inclusive, and transparent.

The Group recognizes that the passing of today's resolution is just one of the first steps in this important line of achievements towards the effective implementation and activation of the BBNJ Agreement, one that we all worked so hard to reach. The Group is eager to commence the work of the preparatory commission, which will be vital to ensuring the entry into force of the Agreement; its effective implementation; and, perhaps most importantly, ensuring that all the substantive rights and obligations laid out in the Agreement can become a true reality with all due haste.

In anticipation of the commission's meeting, including the planned three-day organizational meeting in the first half of 2024, the Group would like to highlight a few important considerations.

First, in line with operative paragraphs 14 and 15 of this resolution, the Group underlines the vital importance of ensuring the attendance of delegates from all Member States at each stage of the Preparatory Commission. While many of our members have worked within groups for this process - including of course that of the Group of 77 and China - each and every delegation plays a key role for coordination and future national implementation of and compliance with the Agreement. The Group thanks in advance any and all contributors to the voluntary trust fund, and encourages further contributions to ensure the utmost inclusivity and supporting and facilitating developing countries in attending the Preparatory Commission.

Second, in line with operative paragraph 16 of this resolution, capacity building and technical assistance activities need to be more tailored and responsive to the needs of developing States, in a similar needs assessment approach as the one is set out in the Agreement itself, in order to increase the number of parties to the Agreement and to ensure universal inclusion. Member States are best placed to know the most applicable approaches and activities that would best support these goals. This will be an important procedural approach to be discussed during the organizational meeting.

Additionally, in the context of the implementation and preparation for the entry into force of the Agreement, the Group also stresses the need for a wide participation of developing countries in the new Agreement to improve their representation and guarantee equal participation in international decision-making under the BBNJ Agreement. In that regard, the Group welcomes the fact that four States of the Group have already ratified the Agreement so far, showing our commitment to the early entry into force of the Agreement, and it also notes with appreciation the offer of Chile, one of those four countries, to host the Secretariat of the BBNJ Agreement.

The Group wishes to reiterate its thanks to all delegations for their continued constructive engagement on the path to the fullest achievements that we all worked so hard on in this Agreement.

I thank you.

Excellencies,

The G77 and China believes that the fourth conference on financing for development should achieve key priorities that, include inter alia:

- Accelerate progress on the urgent reform of the international financial architecture, and multilateral development bank governance reform, particularly the IMF and the World Bank, to address the financing needs of developing countries and strengthen their voice, representation and participation in international decision making, norm setting and global economic governance;
- Mobilization and provision of additional financing by multilateral development banks within their mandates to support developing countries to achieve sustainable development, including through securing increases to grants and concessional finance as well as better leveraging of their capital bases;
- Accelerate progress on the reform of the IMF Quota and voting rights on quota realignment and increasing voting shares of developing countries at the IMF as well suspension of the surcharge policy by the IMF considering that the existing structure of surcharges operates procyclically and inequitablly since it leaves the most distressed countries bearing the heaviest financial burdens;
- Renewal of commitments from developed countries to fully meet their development finance commitments, including ODA commitments as it is imperative to address the impact of declining ODA as a challenge for both development and financing;
- Accelerate progress on urgent reform of the global sovereign debt architecture to address the debt crisis faced by developing countries with their meaningful participation, allowing for fair, balanced, and development-oriented treatment;
- Accelerate progress on measures to scale up the use of debt swaps for SDGs, including for climate, nature and food;
- Accelerate progress on the voluntary rechanneling of unutilized Special Drawing Rights (SDRs) to developing countries as well as the new allocation of the SDRs;
- Urgent establishment of measures of progress that complement or go beyond GDP to better measure sustainable development and to have a more inclusive approach to international cooperation, which should inform access to concessional and non-concessional finance, technical cooperation, and financing in a fair and inclusive manner;
- Accelerate progress on the improvement of the multilateral trading system;
- Prevent and combat illicit financial flows that drain resources from developing countries;
- Strengthen international tax cooperation to ensure its inclusivity and effectiveness through the negotiation and adoption of the UN Framework Convention on International Tax Cooperation;
- Support productive capacities building for diversified, resilient, and sustainable economies in developing countries;
- Support domestic public resources mobilization, and investments in infrastructure, connectivity, education, skills- training, and capacity-building, including for national statistical systems in developing countries;
- Address the Unilateral Coercive Measures as they impede the full achievement of economic and social development in developing countries, and;
- Support technology transfer from Developed to Developing countries in line with the 2030 Agenda.

Excellencies,

The upcoming conference should accelerate progress on the implementation of the 2023 Sustainable Development Goals Summit Political Declaration to support the realization of the 2030 Agenda for Sustainable Development. We firmly believe that the conference should equally accelerate progress by taking appropriate actions to implement the United Nations Secretary General's proposal for an SDG Stimulus for developing countries.

Finally, the G77 and China emphasizes that the fourth international conference should strengthen international cooperation to support actions that adequately address the financing challenges of developing countries and contribute to the implementation of the 2030 Agenda for Sustainable Development in which no country or person is left behind. The political commitment and will to take urgent actions to address financing for development remain critical in accelerating actions at levels to achieve the SDGs whose progress remains offtrack.

I thank you.