New York
UN
Secretary-General's remarks to the First Biennial Summit for a Sustainable, Inclusive and Resilient Global Economy: Implementing Commitments on Financing the Sustainable Development Goals [as delivered]
Statements | António Guterres, Secretary-General
Statements | António Guterres, Secretary-General
This Summit is focused on taking stock of commitments leaders have made on financing for development.
But allow me to briefly step back and take stock of this gathering itself.
This Biennial Summit is not just another meeting. It is the first of its kind.
We have heads of international financial institutions.
Leaders of major multilateral platforms such as the G7, G20 and the President of COP30.
Heads of State representing major country groupings – including those that may not be the biggest economies in the world, but have the biggest stake in development finance.
This is networked, inclusive multilateralism in practice.
We first proposed such an initiative four years ago – which was welcomed in the Pact for the Future.
Why?
Because we saw financing gaps widening and debt distress proliferating;
international dialogue on finance spread across institutions;
and multilateralism under strain, with developing countries often excluded from decision-making even in matters of their direct concern.
But we also heard the voices of people loud and clear – struggling to make ends meet, falling further behind, and wondering if leaders will act for them.
This Summit was envisioned as a space to help bring coherence, ambition, inclusivity, and action to the global financing conversation.
These efforts have advanced significantly in the last four years.
We all agree that far more financing must be mobilized to advance the Sustainable Development Goals.
We also understand that today’s international financial architecture needs reform to respond to the world of today and the scale and complexity of its challenges.
Excellencies,
This Summit is built on three key premises:
First, cooperation – especially in light of collapsing aid commitments and rising trade tensions.
Second, coherence – to build bridges across the many spaces where dialogues on development finance are taking place.
Third, inclusivity --- the distribution of economic power in the world is grossly unequal, and should not be the basis for determining participation.
Developing countries must have a greater say and sway in the decisions that affect them.
As we focus on financing for development commitments, we have much to build on.
A growing consensus has emerged on what needs to be done -- most recently at the Financing for Development Conference in Sevilla.
A consensus on ways to unlock more finance.
By strengthening the capacity for domestic resource mobilization;
Tripling the lending power of multilateral development banks to make them bigger and bolder;
And improving our approach to leveraging private finance.
Further details must be agreed in Belém on climate finance.
A consensus on actions to take on debt — with new instruments to reduce borrowing costs and risks, including from climate shocks, and faster support for countries facing illiquidity and debt distress.
And consensus on steps towards a fairer system — by amplifying the voice and participation of debtor countries, piloting solidarity levies, and advancing inclusive international tax cooperation.
Actions have been taken, but now we must go further.
This Summit provides a space to discuss how we move forward -- together.
In this session, we will hear from three groups of leaders:
From multilateral organizations. We look forward to hearing what more you can do to deliver on commitments.
From multilateral platforms, to hear about what efforts you will champion.
And from country groupings, to focus on what actions you most need, and what the global community should prioritize.
And so I say again, this is a very unique Summit with a powerful display of political capital.
But meetings are not the objective – they are the means to deliver for people who are looking for action now.
Let us use this Summit to strengthen our cooperation and take decisive steps toward a more resilient, inclusive, and sustainable future.
Thank you.
But allow me to briefly step back and take stock of this gathering itself.
This Biennial Summit is not just another meeting. It is the first of its kind.
We have heads of international financial institutions.
Leaders of major multilateral platforms such as the G7, G20 and the President of COP30.
Heads of State representing major country groupings – including those that may not be the biggest economies in the world, but have the biggest stake in development finance.
This is networked, inclusive multilateralism in practice.
We first proposed such an initiative four years ago – which was welcomed in the Pact for the Future.
Why?
Because we saw financing gaps widening and debt distress proliferating;
international dialogue on finance spread across institutions;
and multilateralism under strain, with developing countries often excluded from decision-making even in matters of their direct concern.
But we also heard the voices of people loud and clear – struggling to make ends meet, falling further behind, and wondering if leaders will act for them.
This Summit was envisioned as a space to help bring coherence, ambition, inclusivity, and action to the global financing conversation.
These efforts have advanced significantly in the last four years.
We all agree that far more financing must be mobilized to advance the Sustainable Development Goals.
We also understand that today’s international financial architecture needs reform to respond to the world of today and the scale and complexity of its challenges.
Excellencies,
This Summit is built on three key premises:
First, cooperation – especially in light of collapsing aid commitments and rising trade tensions.
Second, coherence – to build bridges across the many spaces where dialogues on development finance are taking place.
Third, inclusivity --- the distribution of economic power in the world is grossly unequal, and should not be the basis for determining participation.
Developing countries must have a greater say and sway in the decisions that affect them.
As we focus on financing for development commitments, we have much to build on.
A growing consensus has emerged on what needs to be done -- most recently at the Financing for Development Conference in Sevilla.
A consensus on ways to unlock more finance.
By strengthening the capacity for domestic resource mobilization;
Tripling the lending power of multilateral development banks to make them bigger and bolder;
And improving our approach to leveraging private finance.
Further details must be agreed in Belém on climate finance.
A consensus on actions to take on debt — with new instruments to reduce borrowing costs and risks, including from climate shocks, and faster support for countries facing illiquidity and debt distress.
And consensus on steps towards a fairer system — by amplifying the voice and participation of debtor countries, piloting solidarity levies, and advancing inclusive international tax cooperation.
Actions have been taken, but now we must go further.
This Summit provides a space to discuss how we move forward -- together.
In this session, we will hear from three groups of leaders:
From multilateral organizations. We look forward to hearing what more you can do to deliver on commitments.
From multilateral platforms, to hear about what efforts you will champion.
And from country groupings, to focus on what actions you most need, and what the global community should prioritize.
And so I say again, this is a very unique Summit with a powerful display of political capital.
But meetings are not the objective – they are the means to deliver for people who are looking for action now.
Let us use this Summit to strengthen our cooperation and take decisive steps toward a more resilient, inclusive, and sustainable future.
Thank you.