{"id":284964,"date":"2025-04-28T10:46:18","date_gmt":"2025-04-28T14:46:18","guid":{"rendered":"https:\/\/www.un.org\/pga\/79\/?p=284964"},"modified":"2025-04-28T10:46:30","modified_gmt":"2025-04-28T14:46:30","slug":"pga-remarks-at-the-2025-ecosoc-forum-on-financing-for-development-follow-up","status":"publish","type":"post","link":"https:\/\/www.un.org\/pga\/79\/2025\/04\/28\/pga-remarks-at-the-2025-ecosoc-forum-on-financing-for-development-follow-up\/","title":{"rendered":"PGA Remarks at the 2025 ECOSOC Forum on Financing for Development Follow-Up"},"content":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; admin_label=&#8221;section&#8221; _builder_version=&#8221;4.16&#8243; global_colors_info=&#8221;{}&#8221;][et_pb_row admin_label=&#8221;row&#8221; _builder_version=&#8221;4.16&#8243; background_size=&#8221;initial&#8221; background_position=&#8221;top_left&#8221; background_repeat=&#8221;repeat&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;|||&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_text _builder_version=&#8221;4.27.4&#8243; _module_preset=&#8221;default&#8221; vertical_offset_tablet=&#8221;0&#8243; horizontal_offset_tablet=&#8221;0&#8243; link_option_url_new_window=&#8221;on&#8221; hover_enabled=&#8221;0&#8243; z_index_tablet=&#8221;0&#8243; text_text_shadow_horizontal_length_tablet=&#8221;0px&#8221; text_text_shadow_vertical_length_tablet=&#8221;0px&#8221; text_text_shadow_blur_strength_tablet=&#8221;1px&#8221; link_text_shadow_horizontal_length_tablet=&#8221;0px&#8221; link_text_shadow_vertical_length_tablet=&#8221;0px&#8221; link_text_shadow_blur_strength_tablet=&#8221;1px&#8221; ul_text_shadow_horizontal_length_tablet=&#8221;0px&#8221; ul_text_shadow_vertical_length_tablet=&#8221;0px&#8221; ul_text_shadow_blur_strength_tablet=&#8221;1px&#8221; ol_text_shadow_horizontal_length_tablet=&#8221;0px&#8221; ol_text_shadow_vertical_length_tablet=&#8221;0px&#8221; ol_text_shadow_blur_strength_tablet=&#8221;1px&#8221; quote_text_shadow_horizontal_length_tablet=&#8221;0px&#8221; quote_text_shadow_vertical_length_tablet=&#8221;0px&#8221; quote_text_shadow_blur_strength_tablet=&#8221;1px&#8221; header_text_shadow_horizontal_length_tablet=&#8221;0px&#8221; header_text_shadow_vertical_length_tablet=&#8221;0px&#8221; header_text_shadow_blur_strength_tablet=&#8221;1px&#8221; header_2_text_shadow_horizontal_length_tablet=&#8221;0px&#8221; header_2_text_shadow_vertical_length_tablet=&#8221;0px&#8221; header_2_text_shadow_blur_strength_tablet=&#8221;1px&#8221; header_3_text_shadow_horizontal_length_tablet=&#8221;0px&#8221; header_3_text_shadow_vertical_length_tablet=&#8221;0px&#8221; header_3_text_shadow_blur_strength_tablet=&#8221;1px&#8221; header_4_text_shadow_horizontal_length_tablet=&#8221;0px&#8221; header_4_text_shadow_vertical_length_tablet=&#8221;0px&#8221; header_4_text_shadow_blur_strength_tablet=&#8221;1px&#8221; header_5_text_shadow_horizontal_length_tablet=&#8221;0px&#8221; header_5_text_shadow_vertical_length_tablet=&#8221;0px&#8221; header_5_text_shadow_blur_strength_tablet=&#8221;1px&#8221; header_6_text_shadow_horizontal_length_tablet=&#8221;0px&#8221; header_6_text_shadow_vertical_length_tablet=&#8221;0px&#8221; header_6_text_shadow_blur_strength_tablet=&#8221;1px&#8221; box_shadow_horizontal_tablet=&#8221;0px&#8221; box_shadow_vertical_tablet=&#8221;0px&#8221; box_shadow_blur_tablet=&#8221;40px&#8221; box_shadow_spread_tablet=&#8221;0px&#8221; global_colors_info=&#8221;{}&#8221; sticky_enabled=&#8221;0&#8243;]<\/p>\n<p>\u200b<\/p>\n<p style=\"text-align: center\"><strong>Remarks by the President of the UN General Assembly<\/strong><\/p>\n<p style=\"text-align: center\"><strong>H.E. Mr. Philemon Yang<\/strong><\/p>\n<p style=\"text-align: center\" align=\"center\"><b><span style=\"font-size: 11.0pt;color: black\">at <\/span><\/b><b><span style=\"font-size: 11.0pt\">the 2025 ECOSOC Forum on Financing for Development Follow-Up<\/span><\/b><\/p>\n<p style=\"text-align: center\"><strong>28<sup>th<\/sup> April 2025<\/strong><\/p>\n<p style=\"text-align: center\"><strong>[As Delivered]<\/strong><\/p>\n<p class=\"elementtoproof\" style=\"background: white\"><span style=\"font-family: 'Aptos',sans-serif;color: #242424\">Your Excellencies,<\/span><\/p>\n<p class=\"elementtoproof\" style=\"background: white\"><span style=\"font-family: 'Aptos',sans-serif;color: #242424\">Ladies and gentlemen,<\/span><\/p>\n<p class=\"elementtoproof\" style=\"background: white\"><span style=\"font-family: 'Aptos',sans-serif;color: #242424\">\u00a0<\/span><\/p>\n<p class=\"elementtoproof\" style=\"background: white\"><span style=\"font-family: 'Aptos',sans-serif;color: #242424\">Let me begin by\u00a0thanking His Excellency Bob Rae, President of the Economic and Social Council, for inviting me to speak at this important and timely forum.<\/span><\/p>\n<p class=\"elementtoproof\" style=\"background: white\"><span style=\"font-family: 'Aptos',sans-serif;color: #242424\">\u00a0<\/span><\/p>\n<p class=\"elementtoproof\" style=\"background: white\"><span style=\"font-family: 'Aptos',sans-serif;color: #242424\">Indeed, time is of the essence.<\/span><\/p>\n<p class=\"elementtoproof\" style=\"background: white\"><span style=\"font-family: 'Aptos',sans-serif;color: #242424\">\u00a0<\/span><\/p>\n<p class=\"elementtoproof\" style=\"background: white\"><span style=\"font-family: 'Aptos',sans-serif;color: #242424\">This year\u2019s Forum plays a pivotal role in preparing for the Fourth International Conference on Financing for Development, which will take place soon.<\/span><\/p>\n<p class=\"elementtoproof\" style=\"background: white\"><span style=\"font-family: 'Aptos',sans-serif;color: #242424\">\u00a0<\/span><\/p>\n<p class=\"elementtoproof\" style=\"background: white\"><span style=\"font-family: 'Aptos',sans-serif;color: #242424\">With only five years remaining to meet our deadlines for the 2030 Agenda for Sustainable Development, this Conference represents our most important opportunity to urgently close financing gaps and achieve our goals.<\/span><\/p>\n<p class=\"elementtoproof\" style=\"background: white\"><span style=\"font-family: 'Aptos',sans-serif;color: #242424\">\u00a0<\/span><\/p>\n<p class=\"elementtoproof\" style=\"background: white\"><span style=\"font-family: 'Aptos',sans-serif;color: #242424\">The challenges to sustainable development are well documented.<\/span><\/p>\n<p class=\"elementtoproof\" style=\"background: white\"><span style=\"font-family: 'Aptos',sans-serif;color: #242424\">\u00a0<\/span><\/p>\n<p class=\"elementtoproof\" style=\"background: white\"><span style=\"font-family: 'Aptos',sans-serif;color: #242424\">Conflicts are eroding gains and impeding progress.<\/span><\/p>\n<p class=\"elementtoproof\" style=\"background: white\"><span style=\"font-family: 'Aptos',sans-serif;color: #242424\">\u00a0<\/span><\/p>\n<p class=\"elementtoproof\" style=\"background: white\"><span style=\"font-family: 'Aptos',sans-serif;color: #242424\">Tensions in global trade are affecting economic growth.<\/span><\/p>\n<p class=\"elementtoproof\" style=\"background: white\"><span style=\"font-family: 'Aptos',sans-serif;color: #242424\">\u00a0<\/span><\/p>\n<p class=\"elementtoproof\" style=\"background: white\"><span style=\"font-family: 'Aptos',sans-serif;color: #242424\">Many countries continue to have challenges with rising debts and a limited fiscal space.<\/span><\/p>\n<p class=\"elementtoproof\" style=\"background: white\"><span style=\"font-family: 'Aptos',sans-serif;color: #242424\">\u00a0<\/span><\/p>\n<p class=\"elementtoproof\" style=\"background: white\"><span style=\"font-family: 'Aptos',sans-serif;color: #242424\">Some are spending as much as 20 percent of their government revenue on servicing their debt \u2013 revenue that could otherwise have gone into sustainable development.<\/span><\/p>\n<p class=\"elementtoproof\" style=\"background: white\"><span style=\"font-family: 'Aptos',sans-serif;color: #242424\">\u00a0<\/span><\/p>\n<p class=\"elementtoproof\" style=\"background: white\"><span style=\"font-family: 'Aptos',sans-serif;color: #242424\">It is fitting that this is referred to as a \u2018debt trap\u2019. Such traps jeapordize development.<\/span><\/p>\n<p class=\"elementtoproof\" style=\"background: white\"><span style=\"font-family: 'Aptos',sans-serif;color: #242424\">\u00a0<\/span><\/p>\n<p class=\"elementtoproof\" style=\"background: white\"><span style=\"font-family: 'Aptos',sans-serif;color: #242424\">Meanwhile our inability to reform the international financial architecture is severely restricting capital access.<\/span><\/p>\n<p class=\"elementtoproof\" style=\"background: white\"><span style=\"font-family: 'Aptos',sans-serif;color: #242424\">\u00a0<\/span><\/p>\n<p class=\"elementtoproof\" style=\"background: white\"><span style=\"font-family: 'Aptos',sans-serif;color: #242424\">It is fair to say that progress across the entirety of the Sustainable Development Goals hinges on our ability to close the financing gap, which stands\u00a0at US$ 4.2 trillion per year.<\/span><\/p>\n<p class=\"elementtoproof\" style=\"background: white\"><span style=\"font-family: 'Aptos',sans-serif;color: #242424\">\u00a0<\/span><\/p>\n<p class=\"elementtoproof\" style=\"background: white\"><span style=\"font-family: 'Aptos',sans-serif;color: #242424\">Since the adoption of the Addis Ababa Action Agenda, there have been positive signs of more domestic resource mobilization and greater collaboration across sectors.<\/span><\/p>\n<p class=\"elementtoproof\" style=\"background: white\"><span style=\"font-family: 'Aptos',sans-serif;color: #242424\">\u00a0<\/span><\/p>\n<p class=\"elementtoproof\" style=\"background: white\"><span style=\"font-family: 'Aptos',sans-serif;color: #242424\">And the adoption of the\u00a0Pact for the Future, last September, was a recognition of the structural impediments to \u2018fixing financing\u2019.<\/span><\/p>\n<p class=\"elementtoproof\" style=\"background: white\"><span style=\"font-family: 'Aptos',sans-serif;color: #242424\">\u00a0<\/span><\/p>\n<p class=\"elementtoproof\" style=\"background: white\"><span style=\"font-family: 'Aptos',sans-serif;color: #242424\">This transformative step boosted calls to\u00a0reform the global financial system, expand international trade, and reduce inequalities, particularly in developing countries.<\/span><\/p>\n<p class=\"elementtoproof\" style=\"background: white\"><span style=\"font-family: 'Aptos',sans-serif;color: #242424\">\u00a0<\/span><\/p>\n<p class=\"elementtoproof\" style=\"background: white\"><span style=\"font-family: 'Aptos',sans-serif;color: #242424\">The responsibility, therefore, is now on us to deliver on these reforms.<\/span><\/p>\n<p class=\"elementtoproof\" style=\"background: white\"><span style=\"font-family: 'Aptos',sans-serif;color: #242424\">\u00a0<\/span><\/p>\n<p class=\"elementtoproof\" style=\"background: white\"><span style=\"font-family: 'Aptos',sans-serif;color: #242424\">We must address the challenges that restrict access to financing for development.<\/span><\/p>\n<p class=\"elementtoproof\" style=\"background: white\"><span style=\"font-family: 'Aptos',sans-serif;color: #242424\">\u00a0<\/span><\/p>\n<p class=\"elementtoproof\" style=\"background: white\"><span style=\"font-family: 'Aptos',sans-serif;color: #242424\">We must recommit to accessible, affordable financing.<\/span><\/p>\n<p class=\"elementtoproof\" style=\"background: white\"><span style=\"font-family: 'Aptos',sans-serif;color: #242424\">\u00a0<\/span><\/p>\n<p class=\"elementtoproof\" style=\"background: white\"><span style=\"font-family: 'Aptos',sans-serif;color: #242424\">And we must work together to unlock the flow of capital, investment, and official development assistance to developing countries.<\/span><\/p>\n<p class=\"elementtoproof\" style=\"background: white\"><span style=\"font-family: 'Aptos',sans-serif;color: #242424\">\u00a0<\/span><\/p>\n<p class=\"elementtoproof\" style=\"background: white\"><span style=\"font-family: 'Aptos',sans-serif;color: #242424\">Your Excellencies,<\/span><\/p>\n<p class=\"elementtoproof\" style=\"background: white\"><span style=\"font-family: 'Aptos',sans-serif;color: #242424\">\u00a0<\/span><\/p>\n<p class=\"elementtoproof\" style=\"background: white\"><span style=\"font-family: 'Aptos',sans-serif;color: #242424\">Time is of the essence.<\/span><\/p>\n<p class=\"elementtoproof\" style=\"background: white\"><span style=\"font-family: 'Aptos',sans-serif;color: #242424\">\u00a0<\/span><\/p>\n<p class=\"elementtoproof\" style=\"background: white\"><span style=\"font-family: 'Aptos',sans-serif;color: #242424\">Let us use this Forum to bridge divides, build trust, and lay the foundation for success in Sevilla, in Spain.<\/span><\/p>\n<p class=\"elementtoproof\" style=\"background: white\"><span style=\"font-family: 'Aptos',sans-serif;color: #242424\">\u00a0<\/span><\/p>\n<p class=\"elementtoproof\" style=\"background: white\"><span style=\"font-family: 'Aptos',sans-serif;color: #242424\">Action is needed to reaffirm the Addis Ababa Action Agenda.<\/span><\/p>\n<p class=\"elementtoproof\" style=\"background: white\"><span style=\"font-family: 'Aptos',sans-serif;color: #242424\">\u00a0<\/span><\/p>\n<p class=\"elementtoproof\" style=\"background: white\"><span style=\"font-family: 'Aptos',sans-serif;color: #242424\">Together we must work towards a successful outcome of the Fourth International Conference on Financing for Development, to ensure that no one is left behind.<\/p>\n<p>Thank you.\u00a0<\/span><\/p>\n<p class=\"elementtoproof\" style=\"background: white\"><span style=\"font-family: 'Aptos',sans-serif;color: black\">\u00a0<\/span><\/p>\n<p class=\"elementtoproof\" style=\"background: white\"><b><span style=\"font-family: 'Aptos',sans-serif;color: black\">___<\/span><\/b><\/p>\n<p class=\"elementtoproof\" style=\"background: white\">\n<p class=\"elementtoproof\" style=\"background: white\"><b><span style=\"font-family: 'Aptos',sans-serif;color: #242424\">Media Contacts<\/span><\/b><\/p>\n<p class=\"elementtoproof\" style=\"background: 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Mr. Philemon Yang at the 2025 ECOSOC Forum on Financing for Development Follow-Up 28th April 2025 [As Delivered] Your [&hellip;]<\/p>\n","protected":false},"author":373,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[81,111],"tags":[],"class_list":["post-284964","post","type-post","status-publish","format-standard","hentry","category-blog","category-speeches","et-doesnt-have-format-content","et_post_format-et-post-format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>PGA Remarks at the 2025 ECOSOC Forum on Financing for Development Follow-Up | General Assembly of the United Nations<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PGA Remarks at the 2025 ECOSOC Forum on Financing for Development Follow-Up | General Assembly of the United Nations\" \/>\n<meta property=\"og:description\" content=\"\u200b Remarks by the President of the UN General Assembly H.E. 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