Mr. Chairman,

1. I have the honour to deliver this statement on behalf of the Group of 77 and China.

2. We all know that poverty is a very complex phenomenon. It is related not only to low income but also to low achievement in areas such as employment, education, housing, health and nutrition, among others. Poverty manifests itself in different forms and involves issues of economic, social, environmental and institutional dimensions. Moreover, its root causes have to be tackled at all levels.

3. Eradicating poverty is the greatest global challenge facing the world today and an indispensable requirement for sustainable development in developing countries. We recognize the importance of sustained, inclusive and equitable economic growth in poverty eradication and the attainment of the MDGs. In 2007 the General Assembly proclaimed the Second Decade for the Eradication of Poverty 2008-2017, in recognition of a continuing need for a long-term sustained response at all levels to successfully engage in addressing poverty.

4. Progress during the first decade was severely uneven and slow, and efforts failed to reach millions in the most vulnerable countries, in particular the LDCs and Sub-Saharan Africa, as well as the most vulnerable groups within countries, in particular women and children. Further, significant pockets of poverty exist in middle-income countries and the global economic situation poses severe risks of reversals of economic growth and increase in the levels of poverty in these countries.

5. Moreover, Mr Chairman, currently we are still facing an economic and financial crisis which poses additional challenges to advancing the modest gains achieved in the first decade, and the prospects to achieve the agreed poverty reduction targets and other development goals by 2015 appears extremely bleak.

6. In this context, much needs to be done to reverse the declining international resource flows, particularly inadequate financial assistance for development and the worsening terms of international trade. It is also very important to step up efforts to address unemployment and job crisis while promoting productive capacities and strengthening agricultural development.

Mr. Chairman,

7. Turning to the requirements for acceleration of economic growth, and its impacts on developing countries, I would like to emphasize, first and foremost, on the fundamental role of financial resources.

8. In this regard, Official Development Assistance (ODA) -which is the only source of external financing for many developing countries- remains crucial in helping them to achieve economic growth and fight poverty. We urge all those developed countries which have not done so to fulfill their commitment in allocating 0.7 percent of their GNP to overall ODA -including the 0.15-0.20 percent to LDCs- urgently to complement domestic efforts and foreign capital flows. We reiterate the call for the establishment of an effective monitoring mechanism to ensure that the internationally agreed ODA targets are met.

9. On the other hand, debt relief is also one of the various financial assistance instruments which could increase the ability of developing countries to eradicate poverty.

10. In addition, international trade expansion can also contribute to the promotion of economic growth and the eradication of poverty. Developed countries should be urged to remove trade barriers and agricultural subsidies which constitute serious impediments to market access by developing countries. It is a fact that market access in developed countries for the agricultural, manufactured goods and services of developing countries would help them creating productive jobs and thus help them in their national policies and endeavors towards economic growth and poverty eradication.

11. Facilitating transfer of technology by developed countries to the developing world plays a critical role in helping them in their developmental efforts and accelerates their economic growth. Given the very serious threat of increasing technological marginalization of the South, due and urgent attention needs to be paid by the international community and the United Nations system, to the formulation and implementation of appropriate measures to address and overcome this situation.

12. We also emphasize the need to adopt policies to facilitate the expansion of microcredit and microfinance institutions in order to service the large unmet demand among poor people for financial services, including the identification and development of mechanisms to promote access to sustainable financial services, the removal of institutional and regulatory obstacles and the provision of incentives to microfinance institutions that meet national standards for delivering sound financial services to the poor.

13. The G77 and China calls upon the United Nations system and other relevant stakeholders to fully maximize the role of microfinance instruments, including microcredit for poverty eradication and especially for the empowerment of women and rural populations particularly in agricultural sector and for the development small-and-medium enterprises, and to ensure that best practices in the microfinance sector are widely disseminated.

14. We also support the Global Jobs Pact that provides a useful framework for countries to formulate appropriate policy packages specific to their national situation and priority and call for continued coordination and coherence in the implementation of the Global Jobs Pact to avert the job crisis.

Mr. Chairman,

15. It has to be noted that an increasing proportion of the poor, and in particular the working poor, are women. The Group recognizes the importance of addressing the issue of women in development within the framework of the General Assembly's work on economic and financial matters. The advancement of women worldwide, particularly in developing countries, has been impeded by widening economic inequalities, unemployment, and high levels of poverty among women, intensified by globalization and other transformations in the world economy.

16. Enhancing human resources capacity for higher, more creative and productive employment and decent work for all is vital for poverty reduction. In this regard, we would like to emphasize the role of the public sector in the promotion of Human Resources Development and the role of the United Nations system and contribution from private sector and civil society in supporting the actions and priorities of the national governments.

17. It is also important to draw the attention to the impact of globalization and in particular its influence on the movement of highly skilled and educated people and its implications for developing countries; and also place the spotlight on the role of knowledge, science and technology including information and communications technologies, in Human Resources Development.

18. Let me conclude by reaffirming that the objective of poverty eradication should continue to be at the centre of the United Nations System. In this regard, we believe that the World Solidarity Fund is one of the tools that could contribute to the achievement of the objective of poverty eradication. Therefore, the need to ensure adequate resources to its effective operationalization is crucial and a matter of urgency.

Mr. Chairman,

19. The G77 and China views poverty as the most pervasive violation of human and development rights. An effective and meaningful global campaign against the scourge of poverty requires poverty eradication to be placed at the center of national strategies and international cooperation. National governments carry a critical, pivotal role to play in this regard and do indeed have the ultimate responsibility to ensure the success of the campaign against poverty. At the same time, we underline the fact that a successful pursuit of national policies needs to be supported by a conducive, enabling external environment and continued support from the international community. In fact, the whole international community needs to engage in genuine international cooperation and implement concerted policies, in a mutually supportive manner in order to ensure making concrete progress toward the realization of the established international goals and targets.

20. This cluster of issues is at the root of what development is about. We have a responsibility through our discussions and resolutions in the Second Committee to facilitate and enable the poor, in particular poor women, achieve a better future.

I thank you Mr. Chairman.