Development finance, debt and the SDGs
Mr. President, Africa has the youngest population on Earth. That is an extraordinary asset if we invest in it. But what is a demographic dividend today can become a demographic crisis tomorrow if opportunity does not keep pace with aspiration. Youth unemployment remains one of the most urgent challenges of our time. Managing it is a shared responsibility. Botswana calls upon the United Nations Development Programme, the International Labour Organization, and all relevant multilateral institutions to make technology transfer, skills development, and capacity building funded priorities. As we will all agree, the credibility of our multilateral commitments will be properly tested in development finance. When countries have the means to invest in their people, and when international institutions respond effectively to shared threats, trust is strengthened. But when commitments remain out of reach for those who need them most, confidence in the system weakens. Getting these fundamentals right is central to restoring trust, managing transformation, and building a United Nations that delivers for all. The global financial architecture must therefore evolve to reflect the economic realities of the 21st century, including financing demands created by climate change, technological transformation, and the imperative for sustainable development. Developing countries frequently face borrowing costs several times higher than those of wealthier nations because the system was not designed with the circumstances of the Global South in mind. That sustainability is a question of development and fairness. When nations spend more to service debt than invest in education, job creation, or provision of healthcare, trust in the system erodes. Botswana calls upon this assembly and the international financial institutions to pursue reform of global financial governance. This would give developing countries a meaningful voice and provide fair and predictable access to concessional finance. We call upon the United Nations and its financial partners to mobilize private capital through innovative and blended financing agreements that de-risk productive investment in developing economies. This is enlightened fairness and sound economics. Capital should help create opportunity where its impact can be felt. Mr. President, health is where the promise of international solidarity is tested most directly, and Botswana speaks from hard-earned experience.
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