Mr. President,

The convening of this First Biennial Summit for a sustainable, inclusive and resilient global economy provides a timely opportunity for us to review our collective commitments to financing the SDGs, and to translate them into tangible actions.

The Lao PDR welcomes the adoption of the Compromiso de Sevilla at the Fourth International Conference on Financing for Development which offers a renewed global compact to address the pressing financing needs for the 2030 Agenda. Moreover, it also establishes a political blueprint to strengthen international cooperation, address debt vulnerabilities, mobilize resources for sustainable development, and advance reforms towards a more inclusive and resilient global financial system. These commitments are closely aligned with the Lao PDR’s priorities, particularly in ensuring debt sustainability, expanding fiscal space, and securing adequate and predictable resources to support national development goals.

Recognizing the unique challenges as being both an LDC and LLDC, the Lao PDR has integrated the objectives of the Programs of Action for LDCs and LLDCs into comprehensive strategies, National Socio-Economic Development Plan (NSEDP), the Smooth Transition Strategy and financing frameworks, including the Integrated National Financing Framework (INFF) and Financing Strategy. These measures aim to strengthen economic resilience, develop human capital, and enhance transport and trade infrastructure, supporting a sustainable and effective transition for LDC graduation.

At the same time, we must admit that achieving the SDGs requires robust multilateral cooperation and strengthened partnerships. Limitations in global financial resources continue to constrain these development efforts, particularly for countries in special situations. Therefore, my delegation calls on development partners and international financial institutions to continue providing support, including through ODA and other financing support measures. We also encourage closer collaboration with graduating countries to ensure that these financing support measures are aligned with national priorities and development strategies, including the commitments under the Compromiso de Sevilla, promoting knowledge-sharing, capacity building, and collaboration in support of sustainable and inclusive development for all, echoing Secretary-General Antonio Guterres’ sentiment that: “graduation must be viewed as a reward, not a punishment”.

In conclusion, I reaffirm the Lao PDR’s unwavering commitment to global partnerships and promoting equitable, inclusive, and sustainable financing for development, in pursuit of a better future for all.

Thank you.