President urges int’l community to ensure more financing for developing countries post Covid-19

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President Dr Irfaan Ali

President Dr Irfaan Ali today urged the international community to ensure that greater financing is provided to meet the 2030 Agenda on Sustainable Development, particularly in the post COVID-19 era.

The Head of State made this call in his opening address at the virtual flagship event in honour of Guyana’s Chairmanship of G-77 and China, held under the theme ‘Maintaining a Low Carbon Development Path towards the 2030 Agenda in the era of COVID-19’.

“As Chairman of the Group 77 and China I call for greater access to climate financing for developing countries…I call on the international financial community to explore and implement ways where debt can be reduced so as to allow developing countries the fiscal space to achieve the SDGs (Sustainable Development Goals).”

The Head of State emphasised on the importance of placing an integrated, international response to the pandemic as well as the climate crisis, at the centre of advancement of the SDGs.

President Ali also pointed to the negative effects of Climate Change on the country’s GDP and its impact on livelihoods and food security.

In this regard, he assured of Guyana’s commitment through the Low Carbon Development Strategy (LCDS) to combat the effects of climate change while advancing its development aspirations.

“The LCDS is aimed at transforming Guyana’s economy to better deliver greater socio economic benefits to our people by following a low carbon development path while at the same time mainstreaming climate resilience…We remain committed to advancing the LCDS and to collaborate with international partners to expand our work.”

President Ali reiterated that addressing climate change is of vital importance as well as a key component for the implementation of the Paris Agreement for developing countries within G77 and China.

“Guyana proudly accepts its share of responsibility for climate action, fighting the pandemic and advancing along that path to sustainable development….We can maintain our forests to help in the global fight against climate change if we receive adequate financial resources, especially during this era of COVID- 19.”

President Ali pointed to the importance of the G77’s collective role in protecting the planet and humanity.

“Issues of poverty, physical and social vulnerabilities, lack of adequate financing, inadequate preparedness and economic progression can be addressed collectively if we act together…the G77 is so positioned to act.”

Vice President, Dr Bharrat Jagdeo in his presentation also urged the gathering to recognise the importance and significance of the discourse in leading to a “livable” outcome.

He also pointed to the need for existing resources from climate organisations to be shared to countries with limited capabilities.

“We need financing at scale now, not in the future, but now and there are already pools of money where pledges have been made that we have to work as a group to unlock. We will need the solidarity of the Group and the bigger countries in this Group to help us to do that.”

Country representatives from the G77 also made presentations on their commitments towards combating climate change.