“Development finance is an essential part of the solution,” said Deputy Secretary-General Amina Mohammed on behalf of the head of the United Nations, adding that so far, the global response has remained elusive. shortcoming.
For this reason, Global Crisis Response Team Food, Energy and Finance was established to ensure high-level political leadership; overcome the challenges of food, energy and financial security; and implement a coordinated global response, she informed the participants.
Development challenges
The President of the Economic and Social Council, Collen Vixen Kelapile, gave attendees an update on a growing range of interrelated global crises. No country, rich or poor, is immune to external shocks.
He further explained that the SDGs are probably facing the “biggest threat” since they were introduced. COVID-19 They have exacerbated trends that “contribute to cataclysmic impacts” on development, he said, and the poorest and most vulnerable are hardest hit.
“Millions of people around the world have been pushed deeper into extreme poverty. Senior UN official said.
Other pressing concerns
At the same time, he pointed to the impact of carbon emissions on the global climate, which, coupled with the geopolitical crisis that is driving the flow of refugees, causes severe disruption to the global supply chain for essential commodities, and also contribute to food insecurity in many parts of the world. .
Moreover, Macroeconomic trends affecting LDCs and low-income countries have been “catastrophic”.According to Mr. Kelapile, who explains that while developed countries finance the pandemic response by borrowing at low cost, developing countries face a cost-repayment barrier – the restrict investment in infrastructure, housing and social services.
More than half of these fragile countries are now in or at risk of falling into dire straits, while many are experiencing a sluggish economic recovery – which estimates suggest that one-fifth will remain below pre-pandemic levels by the end of 2023.
These countries are constantly experiencing obstacles in accessing the vaccines, treatments and diagnostics – crucial to ending the pandemic.
“In the face of these complex challenges, International cooperation, global solidarity and multilateralism remain the surest way to tackle these global challenges.“I said.
The platform we need
Noting its popular participation, ECOSOC The President described the Forum as “the global platform on which we need to spur action on these challenges”.
As a Forum “unites us”, and with a track record of “bringing consensus”, he calls for an “ambitious outcome that demonstrates the unity of Member States in trying times”. this challenge.”
“Only through urgent and coordinated action can we mobilize the resources to turn the tide, lift people out of extreme poverty, and avert the worst effects of change.” climate, and achieve Sustainable development goals‘ he concluded.
