In his second intervention at the Fourth International Conference on Small Island Developing States (SIDS4) held in Antigua and Barbuda, the UN President stated that the 39 countries that make up that group are particularly vulnerable to Covid-19. Conflict in Ukraine and climate change.
He identified that international finance is the fuel for sustainable development, but these small island countries pay more to service their debt than they invest in health and education.
The Secretary-General of the United Nations said that financial constraints make these countries unable to make the investments they need to achieve the 2030 Sustainable Development Goals.
He commented that many of them are classified as middle-income, which excludes them from debt support allocated to the poorest countries.
In this sense, the Commissioner for International Partnerships at the European Commission, Jutta Urpilainen, welcomed the vulnerability index proposed by the United Nations, indicating that she is waiting for its approval so that all development institutions can use it.
He stated that within the framework of the Global Gateway Strategy, EU countries and institutions intend to mobilize €300 billion in public and private investments by 2027 in all countries at risk, with several initiatives already being implemented in small island states.
This means they also have a commitment of €400 million to the Loss and Damage Fund agreed at the UN Climate Change Conference, also known as COP28.
rgh/CRC
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