51吃瓜

Excellencies, 
Ms. Sebnem Erol Madan,
Mr. Marcus Williams,
Distinguished Colleagues,

I thank you for joining us for this important briefing on MIGA’s support to LDCs, LLDCs and SIDS, that we are very pleased to co-organize with MIGA.  The large presence of our ambassadors and representatives from the member states clearly shows the interest and importance attached to this subject by all of you.    

The financing needs of these countries remain vast and urgent. 

Amid mounting debt burdens, fluctuating commodity prices, geopolitical uncertainties, and the growing impact and escalating cost of climate change, the fiscal space for LDCs, LLDCs, and SIDS is becoming increasingly constrained, leaving them highly vulnerable to external shocks.

Yet, despite these challenges, we see positive economic projections: GDP growth is expected to reach 5% in LDCs, 4.7% in LLDCs, and 3.1% in SIDS . 

The recent record $100 billion replenishment of IDA21, including a $2.5 billion private sector window, represent a crucial opportunity to boost private investment. 
According to UNCTAD, all three groups have experienced some increase in FDI. However, these flows remain very low, representing only about 5% of global FDI, despite these countries being home to around 23% of the global population. Furthermore, FDI remains concentrated in just a few countries within each group.

To drive sustained and inclusive economic transformation, we must find more effective ways to leverage private financing and investment in LDCs, LLDCs and SIDS.

The FFD4 process presents a once-in-a-decade opportunity to address these pressing challenges.

Excellencies, 
The zero draft outcome document strongly reflects the calls for increased FDI, in alignment with each of your programmes of action. 

It calls for the timely establishment of:  
?    The International Investment Support Centre for the LDCs to harness technical assistance and investment-related support for LDCs. 
?     The Infrastructure Investment Financing Facility for Landlocked Developing Countries to enhance infrastructure development and connectivity.
?    The SIDS Centre of Excellence, which will include, inter-alia, a biennial Island Investment Forum to strengthen private sector engagement.  

Achieving these ambitious deliverables requires strong partnerships with institutions such as the MIGA that can mitigate investment risks and further catalyze private sector engagement.  In fact, the Doha POA, specifically requests that the work of MIGA be included in the work of the IISC for LDCs. 

I trust that, through your active engagements and strong partnerships, you will be able to reach consensus on an outcome that aligns with the urgent needs on the ground. My Office remains fully committed to supporting you throughout this process.
Let me now turn to our partners at the World Bank Group’s Multilateral Investment Guarantee Agency. 

MIGA plays a critical role in mitigating investment risks, providing political risk insurance and investment guarantees that enable investors and lenders to operate in challenging environments. Its current portfolio supports projects in 41 of the 92 countries represented here today.

I am pleased that today’s discussion will highlight case studies demonstrating how MIGA’s instruments have helped secure investments in vulnerable countries. I look forward to hearing more about MIGA’s efforts and exploring ways to further unlock private investments in the LDCs, LLDCs and SIDS. 

This discussion must continue through the FFD4 process and beyond, to ensure a concerted international effort in mobilizing the private financing for sustainable development in these countries.

With that, I will now hand over to Mr. Abdoul Salam Bello, who will moderate today’s discussion.  I wish you all a very productive meeting, and thank you all once again, for joining us today.