CIDCA chairman speaks at 2023 ECOSOC Financing for Development Forum

The 2023 ECOSOC Financing for Development Forum opened on April 17, 2023, at the United Nations headquarters in New York. Luo Zhaohui, chairman of the China International Development Cooperation Agency (CIDCA), attended the opening session upon invitation and delivered a speech at the general debate.

According to Luo, financing is crucial in achieving the UN 2030 Sustainable Development Goals (SDGs). What many countries lack is not good development projects but sufficient funding, which largely restricted the realization of the SDGs. The UN statistics show that presently, more than 800 million people are still hungry, and 350 million people need humanitarian assistance. Luo called for greater confidence and common action in achieving common development and the realization of the SDGs.

He introduced China’s action towards that direction. The Chinese government has established an inter-agency coordination mechanism and cooperated closely with the UN and its agencies. China has made the fastest SDGs progress among developing countries and has achieved its poverty alleviation goal 10 years ahead of schedule.

Regarding common development, China has proposed a series of visions, such as the community with a shared future for mankind, the Belt and Road Initiative (BRI) and the Global Development Initiative (GDI). At present, China has signed BRI cooperation documents with over 170 countries and international organizations, with more than 3,000 projects having already been implemented. The GDI has received support from over 100 countries and the UN, with more than 100 projects having been carried out with preliminary results.

China initiated the Asian Infrastructure Investment Bank and the BRICS New Development Bank, established the Global Development and South-South Cooperation Fund, as well as the China-UN Peace and Development Fund. Under those frameworks, China will continue to provide grants, interest-free and concessional loans, he said.

China is also proactively participating in bilateral and multilateral free trade protocols. China applied to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and has become a major trading partner of over 140 countries and regions.

In implementing the G20’s Debt Service Suspension Initiative, China has the largest amount of suspended debt among all G20 members.

China actively carries out human resource training, and collaborates with UN agencies, enterprises and non-governmental organizations to conduct trilateral cooperation in agriculture, health and other fields in Africa and Asia, Luo said.

Lastly, Luo called for common action to achieve the SDGs and realize the GDI by reinforcing the SDGs consensus and the UN’s leadership role, strengthening coordination, and promoting North-South cooperation. China will continue its efforts and strive to contribute more to the realization of the SDGs and GDI, Luo said.

UN Secretary-General António Guterres, President of the UN General Assembly Csaba Korosi, and President of the UN Economic and Social Council (ECOSOC) Lachezara Stoeva also attended the event and delivered remarks.