Statement for the First Biennial Summit for a Sustainable, Inclusive and Resilient Global Economy“Implementing Commitments on Financing the Sustainable Development Goals held on Wednesday.
Excellencies, dear friends,
It is a privilege to address this gathering at a moment full of both promise and responsibility. The commitments made at the Fourth International Conference on Financing for Development must become actions. Closing the USD 4 trillion annual investment gaps for the SDGs is formidable, yet essential.
We must heed the voices of the marginalized that depend on us. In Bangladesh, we believe poverty should not be a barrier to one’s dreams. Financial inclusion and access to resources are instruments of justice. When a woman starts a business, when youth gain solar power and IT, when children in settlements attend schools with access to nutrition and sanitation- transformations become real, and enduring.
The Seville Commitment provides a renewed framework for stronger domestic resource mobilization, tackling illicit flows, empowering development banks, and ensuring accountability of the institutions.
Let me suggest five priorities for better financing the SDGs:
First, mobilize domestic resources fairly, supported by international assistance. Tax systems must be progressive, transparent, and ensure multinational corporations pay their share. Negotiations under the UN Framework on International Tax Cooperation must address these inequities.
UN budget cuts or shrinking ODA would be counterproductive for countries like Bangladesh that hosts 1.3 million Rohingyas amid several other crises like battling climate shocks, and economic turbulence. Global support must expand.
Second, leverage innovative finance and social business. Blended finance and enterprises that reinvest profits to solve problems are proven drivers of jobs, inclusion, and dignity.
Third, reform the global financial architecture and debt governance. Developing countries need greater voices. Debt should be a tool for resilience and development, not austerity.
Fourth, enforce transparency, prevent illicit financing and ensure citizen participation. People, especially youth, must know how resources are used and hold institutions accountable.
Fifth, accelerate investment for the most vulnerable, resilient housing, climate-smart agriculture, healthcare, education, and nature-based solutions.
Excellencies,
The Seville Commitment charts the course; our humanity calls us to journey on it. Let us build an economy of dignity, shared prosperity, and resilience, ensuring no one is left behind.
