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Joint Statement Delivered by Ambassador Zhang Jun on behalf of the Group of Friends of the Global Development Initiative during the High-Level Dialogue on Financing for Development

2023-09-22 18:05

Mr. President, 

I am honored to deliver this joint statement on behalf of the Group of Friends of the Global Development Initiative(GDI), which is comprised of 72 member states.

The means of implementation are key to realizing the 2030 Agenda for Sustainable Development. In recent years, multiple crises such as the COVID-19 pandemic, climate change, and financial market volatility, have wiped out global development gains. The implementation of Sustainable Development Goals(SDGs) is off track, especially in developing countries. We must revitalize global development partnership with the principle of extensive consultation, joint contribution, and shared benefits, so as to inject new impetus to the 2030 Agenda.

The Group firmly believes that development must be put at the center of international agenda, with adequate, sustainable and predictable financing. Developed countries must honor their ODA commitments, and provide financial, technological, and capacity-building support to developing countries. Developing countries should enhance South-South cooperation and jointly build capacity for home-grown development.

The Group calls for accelerated reform of the international financial architecture. More efforts are needed to enhance the voice and representation of developing countries in global economic governance system, and their full participation should be guaranteed in the decision-making process of international financial institutions, in particular IMF and World Bank. The challenges regarding concessional financing, debt sustainability and illicit financial flows faced by many developing countries also need to be addressed. 

The Group stresses the importance of creating an enabling environment for development. For that to happen, macroeconomic policy coordination is urgently needed. Financial market volatility and rising inflation are dealing severe blow to developing countries. Transition to national currencies in bilateral trade can provide some relief and stability in these challenging times. Major advanced economies should adopt responsible fiscal and monetary policies and avoid negative spillover effects. We are deeply concerned about the unilateral coercive measures and protectionism, which are incompatible with the principles of the UN Charter and must be lifted immediately. 

The Group strongly supports the United Nations in playing a central role in global development cooperation. We also support the UN Secretary-General in prioritizing development and mobilizing resources across UN system, and welcome his SDGs Stimulus Plan. We encourage the UN development system to further improve its effectiveness and efficiency, and lift its capacity to respond to global challenges and support developing countries, in particular least developed countries, landlocked developing countries, small island developing states and African countries, and to address the specific challenges faced by middle-income countries.

Mr. President,

The GDI is an appeal for the international community to stay focused on development and accelerate the implementation of the 2030 Agenda. We are proud to see that under GDI, over 200 cooperation projects have come to fruition in areas including poverty reduction, green development, industrialization, and digital economy, among others. China has set up a Global Development and South-South Cooperation Fund with a total funding of 4 billion US dollars, and Chinese financial institutions will set up a special fund of 10 billion dollars dedicated to GDI implementation. The Group is ready to work with the United Nations and its member states to further strengthen synergy between GDI and SDGs, for a better shared future that no one and no country are left behind.

Thank you.

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