Mr. Assistant Secretary-General,
Excellencies,
Colleagues,

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

I would like to thank Mr. Oscar Fernández-Taranco, Assistant Secretary-General for Development Coordination for his briefing and for convening this third plenary meeting and for providing us with the discussion notes.

Regarding the proposed format and shape, we believe it constitutes a good basis for the renewed Compact. We emphasize that the part dedicated to principles and commitments should clearly highlight that core funding is essential for results on the ground and critical to the ability of the United Nations development system to offer the type of solutions that developing countries need to achieve the 2030 Agenda for Sustainable Development and its SDGs.

We propose to include under the heading on "Increasing core and flexible funding to UN development system entities", a commitment to address the needs of developing countries that are underfunded, according to their national priorities and circumstances. It should also be recognized that the funding of the UNDS dedicated to poverty eradication, should be increased and accelerated. Under this heading, it should also be highlighted that the funding must be aligned with national development priorities and strategies of programme countries with a view to reflect national ownership of their development trajectory.

On "Strengthening mutual accountability and incentives for implementation", the Group believes that ECOSOC Operational Activities Segment continues to be a good space to exchange views and review the implementation of the Funding Compact. It would be important not to duplicate or proliferate new fora but instead make effective use of the current spaces we have established.

To conclude, we would like to emphasize that the renewed Compact must serve to really enhance development activities on the ground in a coherent and consistent manner and respond to programme countries needs and priorities.

Thank you.