National Statement, delivered by Ambassador Nicola Clase, at the Second Financing for Development (FfD4) Preparatory Committee Meeting, New York, 4 December 2024
Chairperson, Excellencies, Ladies and Gentlemen,
Sweden aligns itself with the statement made by the EU.
Financing is at the centre of accelerating the implementation of the SDGs.
We welcome the Pact for the Future and its Annexes, the Global Digital Compact and the Declaration for Future Generations. It is important to follow up on the commitments made.
Sweden is proud to be one of the largest bilateral providers of Official Development Assistance. We are a leading contributor of climate finance, humanitarian assistance, support to the development banks and the UN system.
The reform of the international financial architecture is key. Sweden acknowledges calls to make it more representative of today’s world. The voice of the poorest and most vulnerable members must be protected. It is a matter of ensuring the legitimacy of the institutions.
Sweden holds the position as chair of the Development Committee of the World Bank Group and the IMF through our Minister for Finance. We will strive to ensure that the work of the committee is inclusive, constructive, and effective.
Development aid needs to contribute to mobilizing additional resources on a new scale. We must maximize synergies between development cooperation, private investments, trade and innovation. Here, the green and digital transition provides many opportunities.
We also see the potential of credit guarantees to lower the perceived risk and increase the incentives for investments. This year, the Swedish Government has proposed raising the ceiling for outstanding guarantees from 2 billion to 2.6 billion USD.
The partnership with private actors needs to be strengthened. We are stepping up our collaboration with the private sector to tap into their know-how and find innovative solutions.
Driving national reforms to create favourable conditions for development is essential. FfD4 should help with aligning international support with national financing priorities.
Every government is responsible for ensuring the fundamental conditions for investments and economic development. This includes promoting effective and inclusive institutions, transparent regulations, and freedom from corruption.
Good governance, respect for the rule of law, human rights, gender equality and quality education are also necessary for poverty reduction and sustainable growth.
Together we can – and must – ensure an ambitious FfD4 outcome. You can count on Sweden’s constructive engagement throughout the process.
Thank you.