Speech by the Prime Minister

Co-convened High-Level UN Meeting – Closing Remarks

by the
High Level Event on Financing for Development
in the Era of COVID-19 and Beyond
Thursday, May 28, 2020

1. I am pleased with the spirit of determination exhibited today by global leaders and institutions, including the United Nations. We have committed to rescuing our economies and societies from the devastating economic and human impacts of COVID-19, and to emerge as more resilient societies.

2. What is abundantly clear from our exchanges is that the COVID-19 pandemic has triggered an unprecedented global development emergency.
The magnitude of the shock from this pandemic has weakened our resilience and threatens to erode our hard-earned gains in pursuit of the sustainable development goals.

3. As co-convenors we are keen to support the important follow-up work that the working groups will be undertaking in line with the key areas explored today:
1. Global liquidity and financial stability
2. Debt vulnerability
3. Private sector creditors engagement
4. External finance for inclusive growth
5. Illicit financial flows
6.  And Recovering better for sustainability.

These groups will be comprised of Member States supported by the UN Development System and in partnership with relevant international organizations, financial institutions, think thanks, thought leaders and civil society actors.

4. I am encouraged that we have achieved what we have aspired to do at this global dialogue, which is to set in motion a process to identify concrete solutions to the various challenges presented by the COVID-19 crisis.

5. We the co-convenors value the views and perspectives that were expressed today, which will inform the process of creating a global response to the most challenging crisis of our time.

6. We call on all key actors in this process to take decisive action to ensure that all countries recover and emerge stronger and more resilient from this unprecedented crisis.