Angola defends mobilisation of financing for developing countries

Angolan diplomat considered the mobilisation of financing for developing countries a big challenge for the implementation of the 2030 Agenda for Sustainable Development.

The statement came from the charge d’affaires of the Permanent Mission of Angola to the United Nations in New York João Gimolieca, at the UN headquarters.

The diplomat, who was speaking at the Forum on Financing for Development, said that this challenge also has an impact on the implementation of Agenda 2063: The Africa we want.

“Now, we live in multiple and interconnected global crises and we must embrace change by taking immediate action to increase development cooperation and investments in the SDGs, reform the international financial architecture, strengthen cooperation on macroeconomic policies and implement actions to accelerate sustainable development in support of developing countries”, he pointed out.

According to João Gimolieca, Angola welcomes the efforts made by the UN Secretary General to fill the SDG funding gap and looks forward to further discussions on the proposal to stimulate the SDGs.

The aim, he said, is to address the high cost of debt and the rising risks of rising sovereign debt, to massively increase long-term financing for development and to expand contingency finance to countries in need.

For the diplomat, new and additional climate finance for developing countries is extremely important to help and support the implementation of policies for mitigation and adaptation to climate change and to improve access to this climate finance.

During his speech, he highlighted the urgent need for developed countries to provide the means of implementation necessary for developing countries to face climate change, including concessional financing, at least double the adaptation financing, as well as to finalise the operation of the damages and facilitate the full transfer of technology and technical assistance necessary for just transitions.

He highlighted that, despite the vigorous reforms implemented over the last five years by the Government, which created the necessary conditions for the sustainable development of the country, Angola has experienced successive periods of economic recession, to which are added the negative effects of the current health and geopolitical tensions, which resulted in the deterioration of indicators socioeconomic.

In view of this situation, he added, the Government of Angola was forced to review its development strategies, having defined three priority areas for the next 2023-2027 Development Plan, the first being the development of human capital, with the aim of increasing productivity.

Second, expansion and modernisation of infrastructure, to improve mobility, and third, diversification of the economy, with a focus on food security.

The Ambassador emphasized that funding in these three areas is crucial to achieving and fulfilling the 2030 Agenda for Sustainable Development.

In the opening session on Monday (17), the UN Secretary-General, António Guterres, called on the group of the largest global economies, the G20, for a stimulus of at least 500 billion dollars a year so that the economies in development achieve global goals.

The four-day high-level meeting addressed threats to sustainable progress.

Source: Angola Press News Agency