With the 2030 agenda less than four years away, only 36% of assessable SDG targets are on track. Achieving these goals requires renewed political will, stronger partnerships with the private sector, reform of the international financial architecture, and a United Nations development system responsive to the evolving needs and priorities of developing countries. Consistent with the Compromiso de Sevilla, we call for stronger international cooperation to mobilize development financing, facilitate technology transfer and strengthen capacity building. As a country that has newly attained upper middle income status, the Philippines knows that income classification is not the end of the journey. Our metrics must evolve to capture the structural vulnerabilities, debt burdens, and inequalities that continue to affect middle income countries. Put a face to the digital revolution and to the rise of artificial intelligence.

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As we forge ahead with the SDGs, reform of the United International Financial Architecture is critical to a more equitable and inclusive global economic order. Such reforms should create greater policy space and access to financing to enable countries to expand their economies through value addition to their natural resources, including critical minerals, for our people to have full benefit of our resources. This will accelerate sustainable development, address inequality, create jobs for our youth, and lift our population out of poverty. In this context, we welcome the creation of the African Credit Rating Agency to be launched in Mauritius in October this year. This development is a building block of Africa taking ownership of her development and prosperity agenda. It demonstrates progress in Africa's ambitions to drive impetus for the reform of the international financial architecture in order to ensure a level playing field. Middle-income countries continue to face high borrowing costs, limited fiscal space, debt vulnerabilities, climate-related shocks, and persistent inequality. Namibia reaffirms the Sevilla Commitments as an important step towards reforming the international financial architecture and strengthening the global partnership for sustainable development.

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Therefore, the success of an economy is not measured only by how much production grows, but rather how much it's able to reduce poverty. It's measured in young people with decent jobs and children with a better education, in citizens who are able to build their future with dignity. And this also must guide the agenda of international development. Middle-income countries face vulnerabilities that income per capita does not reflect. We ask that access to cooperation and financing be defined using more fair vulnerability criteria, and that the international financial architecture support the efforts of those who are undertaking reforms. We believe in open, predictable, and equitable trade. When a producer can export, innovate, and grow, there's a family behind that can be lifted out of poverty. The best social policy is policy that generates opportunities.

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Yet there's still a long road ahead of us. We need to mobilise greater levels of both domestic and external funding so as to attain our goals. Now, given this scarcity and rising cost of financial resources, particularly because of the access criteria for concessional financing, and they often fail to reflect reality. For a small island state such as ours, income indicators alone do not capture our multidimensional vulnerability. And that is why we in the Comoros call for a profound reform of the international financial architecture. Such reform is essential to guarantee our right to development and to ensure that multilateral banks finally take account of our vulnerabilities in their allocation policies. Encouraged by positive macroeconomic results and our determination to reach higher middle income status, we are now entering a decisive phase. For the period 2027 to 2030, we will accelerate implementation of the Emerging Comoros Plan, and we invite our bilateral and multilateral partners, as well as the private sector, to join us in transforming this ambition into a lasting reality for the Comorian people.

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However, a country's progress shouldn't— progress in a country should not mean that a country is penalized. Middle-income countries host 3 in every 4 people on the planet and 2 in every 3 people in extreme poverty, and nevertheless, GDP continues to be used exclusively for concessional financing. So we're calling for a process like the one that was initiated in the Pact for the Future, to achieve a common framework to measure progress beyond GDP, and for international financial institutions to incorporate these criteria in the multidimensional vulnerability index. Because what can't be measured and what isn't measured doesn't influence decisions, and what doesn't influence decisions does not receive attention. For a small island country, climate change is not an abstract matter, ladies and gentlemen.

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We also maintain that the vulnerability of small island states should be assessed beyond per capita income, taking into account their specific characteristics and structural constraints. In this context, we call for the Multidimensional Vulnerability Index to be translated into concrete eligibility criteria for concessional financing. We likewise advocate for the full operationalization of the fund for responding to loss and damage, and simpler, more effective access to the Green Climate Fund. The limited institutional capacity of vulnerable countries must not become an obstacle to accessing the very instruments created to support them. In the case of Sao Tomé and Principe, this issue is particularly relevant following our graduation to middle income country status, which was an important milestone and a recognition of the progress achieved in human development. It nonetheless requires appropriate transition measures capable of consolidating these gains and shielding the country from external shocks. It is as part of this effort of consolidation that the energy transition finds its place, a transition that is for us an economic, financial, social and environmental necessity.

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Choose dialogue and peaceful settlement wherever possible. Remember ordinary families when making major economic decisions. Balance commercial interests with the welfare of people. Use technology to advance human dignity and not diminish it. Protect our planet while pursuing development and place the interests of our children and future generations at the heart of decisions we make today. Leadership is not measured only by the power of a nation. I beg your pardon again. Leadership is not defined only by the power you possess as a leader of a powerful nation. Leadership is also measured by the responsibility that comes with how you exercise that power. Papua New Guinea does not claim to have all the answers. We still are developing nations. Just a few years ago, we became a middle income earning nation. We have our own challenges, but perhaps our position as a Pacific nation allows us to remind the larger powers of a simple reality. No nation is so powerful that it can live apart from the earth.

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Sovereignty for all peoples across the board. My third conviction is that we must not yield to a divided world. Many describe this rift. Many talk about this rift between the North and the South. We won't be able to tackle any of the challenges our planet faces if we give in to this rift, and it is fueled by double standards, this rift. However, we need the North and the South to reconcile so that they can tackle climate health development challenges. And that's why over the last few years, we've launched many more initiatives. and the African Union. When it came to shoring up economies together with the International Monetary Fund to reform special drawing rights and make progress for African economies. And we held our word $100 billion in special drawing rights allocated to helping African countries. We must stay the course, ensuring that we remain united without pitting anyone against anyone else. That is why it's important that the global health infrastructure must remain intact. We will continue reforming that architecture, but we will never weaken the WHO. We must put the finishing touches on the Pandemics Treaty. Africa CDC should be in a position to combat Ebola ever more effectively. We must be clear sighted as we reform our official development assistance, ODA. We must ensure that our investments exhibit greater solidarity, that they're more effective. This is what we did with the Paris Pact for people and Planet in 2023. Also at the Africa Summit in Nairobi, we also agreed to build a new consensus around investment that stands in solidarity with other states. Countries are allocating funds, and yet the needs of the countries of the global South are growing as well. We need to go faster and go further to help the IMF and the World Bank To be more effective, we must bolster the effectiveness of the instruments at their disposal so that we can mobilize the private sector better, creating guarantee mechanisms to ensure that in emerging economies, middle income countries and developing countries, a more effective response can be mounted to the problems they face. This is the kind of new partnership we must forge in order to ensure that there is no gap, no division, between the North and the South. In a similar vein, this north south partnership requires and will require us to wield our capacity to reopen a dialogue about our common history, our cultural relationships and remembrance.

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