In recent years, the international development cooperation landscape has evolved significantly, with the emergence of new actors, modalities and financing instruments, offering both new opportunities and challenges. Multilateral development banks (MDBs) have taken significant steps to expand their financial capacity and enhance their development impact. However, development cooperation has not kept pace with the growing and shifting needs of developing countries. At this pivotal moment, there is an opportunity to refocus development cooperation – enhancing its catalytic role, fostering innovative partnerships, and ensuring that development efforts are more effective, inclusive, and resilient.

This session will explore how international development cooperation can be strengthened and modernized to accelerate progress towards the SDGs and address pressing global challenges.

Framing questions:

• What steps can be taken to strengthen the effectiveness of development cooperation in all its forms, including reducing fragmentation and enhancing impact?
• What additional steps can MDBs take to further expand their financial capacity and better support development efforts?
• How can financing for global public goods be expanded while ensuring additionality and effectiveness?

Chair: ECOSOC Vice-President

• Remarks by H.E. Ms. Stine Renate Håheim, State Secretary for International Development, Norway

Moderator: Mr. Navid Hanif, Assistant Secretary-General for Economic Development, DESA

• H.E. Mr. Kenyeh Laura Barlay, Minister of Planning and Economic Development, Sierra Leone
• H.E. Mr. Aleksandr Pankin, Deputy Minister of Foreign Affairs, Russian Federation
• H.E. Mr. Fahad Hamad Al-Sulaiti, Director-General of the Qatar Fund for Development, Qatar

Civil society response from the floor (2 minutes)

Ministerial interactive discussion

International trade remains an engine for development, contributing to economic growth, job creation, and poverty reduction. Digital technologies are creating new trading opportunities for countries with the infrastructure and capabilities to harness them. At the same time, tariffs and trade restrictions are on the rise and multilateral negotiations are stalling. Many developing countries with limited productive capacities and trade infrastructure continue to face difficulties in integrating into value chains. To fully realize the benefits of trade and technology, coordinated national and international efforts are essential to bridge digital divides and promote financial inclusion and financial health.

This session will explore how trade and technology can be better harnessed together to drive inclusive and sustainable development amid emerging challenges and opportunities.

Framing questions:

• How can international trade policies and multilateral cooperation be reinvigorated to ensure that trade remains an engine of sustainable development?
• How can global and national efforts mitigate the risks associated with rising trade restrictions and technological fragmentation?
• What role should multilateral institutions play in ensuring that trade and technology policies work together to drive inclusive growth?

Chair: ECOSOC President/Vice-President                                                                                                 

Moderator: Ms. Mariana Mazzucato, Professor in the Economics of Innovation and Public Value at University College London

• H.E. Ms. Fatoumata Bako Traore, Minister for the Budget, Burkina Faso
• H.E. Ismaël Nabé, Minister of Planning and International Cooperation, Guinea
• H.E. Mr. Steven Collet, Deputy Vice Minister for Foreign Trade and Development, Netherlands

Civil society response from the floor (2 minutes)

Ministerial interactive discussion

Investment in data pays off, with an estimated average return of $32 for every $1 invested in strengthening data systems in developing countries. Countries have made significant strides in improving their national statistical systems and political momentum is growing for measuring and monitoring progress in sustainable development using metrics that go beyond GDP. However, investment remains insufficient, resulting in gaps in the availability and use of high quality and disaggregated data and statistics. Major gaps and a lack of progress are notable in key priority areas such as gender, climate change and governance.

This session will explore what is needed to enhance disaggregated data, accessibility and innovative data sources to inform evidence-based decision making for sustainable development.

Framing questions:

• What approaches can accelerate progress in priority areas where sustainable development data gaps remain significant, such as gender, climate change, and governance?
• What are the most effective strategies for integrating non-traditional data sources, citizen-generated data and remote sensing, into national statistical systems?
• What governance frameworks are needed to ensure data quality, transparency, and ethical use?

Chair: ECOSOC President/Vice-President

Moderator: Ms. Mariana Mazzucato, Professor in the Economics of Innovation and Public Value at University College London

• H.E. Mr. Seedy Kaita, Minister of Finance and Economic Affairs, Gambia
• H.E. Ms. María Luisa Ramírez Coronado, Vice Minister of Foreign Affairs, Guatemala
• H.E. Mr. Dehpue Yenpea Zuo, Deputy Minister for Economic Management, Ministry of Finance, Liberia

Discussant: H.E. Ms. Dana Emad Hamza, Assistant Undersecretary for Sustainable Development,  Ministry of Sustainable Development, Bahrain

Civil society response from the floor (2 minutes)

Ministerial interactive discussion

Chair: President of ECOSOC

• Closing remarks by Ms. Amina Mohammed, United Nations Deputy Secretary General
• Closing statement by the President of ECOSOC

Panel discussion 1 on specific actions in the first draft of the outcome document on ‘II. F. International financial architecture and systemic issues’

Introductory remarks and moderation

H.E. Ms. Merete Fjeld Brattested, Permanent Representative of Norway to the United Nations

H.E. Mr. Chola Milambo, Permanent Representative of Zambia to the United Nations

Panelists

Ms. Debra-Lee Swanepoel, National Treasury, South Africa

Mr. William Roos, Ministry of the Economy, Finance and Industrial and Digital Sovereignty, France

Ms. Geetu Joshi, Department of Economic Affairs, Ministry of Finance of India

Discussants

Mr. Rémy Rioux, CEO, AFD and President, Finance in Common

Mr. Jose Antonio Ocampo, Professor, Columbia University

Interactive discussion (2-minute time limit)

Background and Guiding Questions

Supporting reform of the international financial architecture (IFA) – the set of international financial frameworks, rules, institutions and markets that safeguard the stability and functions of the global monetary and financial systems – is an explicit mandate of FFD4. Many such reforms have been undertaken since 2020, in response to the series of global shocks and crises. But they have not kept pace with rising needs, changes in the global geopolitical environments and new challenges in the financial system.

The first draft puts forward a set of ambitious proposals for IFA reforms, building on the Pact for the Future. It addresses global governance and contains actions to increase the voice and representation of developing countries in the governance of key institutions at the heart of the global financial safety net — such as the IMF and the World Bank. This is critical to ensuring a fair, transparent, and responsive system that adapts to country-specific needs. To improve crisis prevention, the draft contains actions for a stronger and more efficient global financial safety net, through a stronger role for special drawing rights (SDRs), improvement in IMF facilities and strengthened regional financial arrangements. A well-functioning safety net can enable countries to focus resources on long-term investments needed to achieve the SDGs, rather than on self-insurance or short-term crisis management. Adjustment to financial regulation could also unlock resources by reducing the cost of capital for developing countries, including through recalibrating the pricing of risk, and reducing the mechanistic reliance on credit ratings from private ratings agencies.

Panelists in this session are invited to pay particular attention in their interventions on strengthening the global financial safety net with the IMF at its center and prudential and financial regulation topics. They are invited to address the following questions:

• What should be the main components of a ‘new playbook on SDRs’, which would facilitate more timely decisions on issuance and rechannelling of SDRs, but without requiring changes in SDR rules and the nature and role of SDRs? How can the IMF play a more effective role in the global financial safety net? (actions 47g-j)
• How can we further advance the review of potential miscalibrations in risk-weightings within banking and financial standards? Which fora, bodies, or committees could undertake such a review? (action 49a)
• Regarding credit rating agencies, what can we learn from national experiences in regulation of credit rating agencies and how can they inform the outcome document? (actions 28m, 44a-c, 48a-c)
• How would the annual special high-level meeting under the auspices of ECOSOC for dialogue with credit rating agencies need to be designed to advance relevant actions in the outcome document and be effective and impactful? (actions 48a)

Panel discussion 2 on specific actions in the first draft of the outcome document on ‘II.E. Debt and debt sustainability’

Introductory remarks and moderation

H.E. Ms. Merete Fjeld Brattested, Permanent Representative of Norway to the United Nations

H.E. Mr. Chola Milambo, Permanent Representative of Zambia to the United Nations

Panelists

Mr. Phil Stevens, Foreign, Commonwealth & Development Office, United Kingdom

Ms. Monica Asuna, The National Treasury, Kenya

Mr. Jose Correia, Director General, Economic and Development Cooperation, Cabo Verde

Discussants

Mr. Gianpiero Leoncini, Executive Vice-President, Development Bank of Latin America and the Caribbean

Interactive discussion (2-minute time limit)

Background and Guiding Questions

Amid successive crises and shocks, sovereign debt challenges have become one of the greatest obstacles to realizing sustainable development. Many developing countries face high debt service burdens and borrowing costs, which severely constrain their fiscal space and ability to address poverty and inequality and invest in sustainable development. Despite progress in reforming the debt architecture, restructurings are often still inadequate, late and too lengthy. A development-oriented debt architecture, based on sound and transparent analysis of debt sustainability, is urgently needed to address these debt challenges.

The debt chapter outlines four areas of actions to address these challenges, including actions to: i) strengthen debt management, debt transparency, and responsible borrowing and lending; ii) lower borrowing cost and enhance fiscal space for investment in sustainable development in developing countries; iii) achieve efficient, fair, predictable, coordinated, timely, and orderly restructurings; and iv) promote debt sustainability and credit assessment that are more accurate, objective and long-term oriented.

Panelists in this session are invited to pay particular attention to the proposals on strengthening and systematizing of liquidity and liability management support and on closing gaps in the debt architecture. They are invited to address the following questions:

• What are the key constraints to scaling up and ensuring coordinated support to countries to enhance fiscal space and lower their cost of borrowing, and to provide related financial instruments, such as debt swaps and credit enhancements at scale? (action 42)
• How can we provide such support at scale, taking into account the need for providing financial support, and for responsiveness to country-specific needs and circumstances? (42b)
• What are the most critical gaps that need to be closed to create a development-oriented debt architecture? (action 43).

Panel discussion 3 on specific actions in the first draft of the outcome document on ‘II.G. Science, technology, innovation and capacity building’

Introductory remarks and moderation

H.E. Ms. Alicia Buenrostro Massieu, Deputy Permanent Representative of Mexico to the United Nations

H. E. Mr. Lok Bahadur Thapa, Permanent Representative of Nepal to the United Nations

Panelists

Mr. Ahmed Salman Zaki, Director, Ministry of Foreign Affairs, Maldives

Ms. Lois Bruu, Vice President, Humanitarian and Development, Mastercard

Ms. Rougui Fouta Diallo, International Trade Union Confederation

Interactive discussion (2-minute time limit)

Background and Guiding Questions

Science, technology and innovation (STI) are advancing at an unprecedented scale and pace. However, leveraging its full potential for advancing sustainable development is constrained by deepening technological gaps; inadequate digital infrastructure and digital public goods; limited national capacity; and insufficient international support. Unregulated technological advances can also have unintended economic, environmental, and social consequences, and worsen gender inequality. Coordinated national and international efforts are needed to address these challenges.

The STI chapter has three areas of actions: first, actions to realize the full potential of STI in supporting sustainable development, including through strengthening innovation, technology transfer, knowledge sharing, capacity building, financing for STI, and international cooperation; second, actions to increase investment in resilient digital public infrastructure and digital public goods and close the digital divides; and third, actions to leverage digital financial services.

Panelists in this session are invited to pay particular attention to actions on the links and impacts of artificial intelligence on fintech. They are invited to address the following questions:

• How can the ECOSOC FFD Forum and related processes best support inclusive, multi-stakeholder dialogues on the intersection of technology, including artificial intelligence, fintech, and sustainable development—particularly in ensuring no one is left behind in the digital transition? (action 54 c)
• As AI-driven financial technologies evolve rapidly across different regions , are there sector specific common values, safeguards, or benchmarks that should guide their development and use to ensure they contribute to inclusive and sustainable development outcomes – and how can such guiding frameworks best be shaped through inclusive and representative global processes? (action 54 d)

Secretary-General of the Conference

Mr. Li Junhua, Under-Secretary General for Economic and Social Affairs, UNDESA

Co-Chairs of the Preparatory Committee

H.E. Mr. Zéphyrin Maniratanga, Permanent Representative of Burundi

H.E. Mr. Rui Vinhas, Permanent Representative of Portugal

Programme

Panel discussion 6 on specific actions in the first draft of the outcome document on ‘II.D. Trade as an engine for development’

Introductory remarks and moderation

H.E. Ms. Alicia Buenrostro Massieu, Deputy Permanent Representative of Mexico to the United Nations

H. E. Mr. Lok Bahadur Thapa, Permanent Representative of Nepal to the United Nations

Panelists

Mr Guy Lamothe, Director of Cabinet of the Ministry of Planification, Haiti

Mr Charles M Mujajati, Director of Economic Planning and Modelling, Ministry of Finance, Economic Development and investment Promotion, Zimbabwe

Discussants

Mr. Patrick Olomo, Department of Economic Development, Tourism, Trade, Industry, Mining, African Union Commission

Mr. Manuel Montes, Senior Advisor, Society for International Development

Interactive discussion (2-minute time limit)

Background and Guiding Questions

International trade as an engine for development is increasingly under threat. Tariffs and trade restrictions are on the rise globally amidst rising trade tensions and stalled multilateral negotiations. Developing countries, in particular LDCs, LLDCs and SIDS with limited productive capacities and trade infrastructure, have challenges integrating productively into the world economy. This calls for concrete measures to improve their capacities to trade and generate value-added, with a focus on the furthest behind including from trade in commodities and critical minerals. It also calls for a recommitment to multilateral trade that upholds policy space for sustainable development within a universal, rules-based, fair, open, transparent, predictable, inclusive, non-discriminatory and equitable system.

The trade chapter of the first draft contains actions to preserve the multilateral trading system as a key driver of economic growth and sustainable development; strengthen trade capacities of developing countries, in particular LDCs, LLDCs and SIDS, and their ability to integrate intro regional and global value chains in a very challenging global context; boost trade in LDCs, many of which remain marginalized and dependent on natural resources and primary commodity exports; and to increase local value addition and beneficiation of critical minerals and commodities in developing countries.

Panelists in this session are invited to pay particular attention in their interventions on the proposals on preserving trade as an engine for development, in particular for developing countries. They are invited to address the following questions:

• How can FFD4 support reform of the multilateral trading system and preserve the role of trade as an engine for development, particularly for developing countries? (actions 36 a-f and 37 a-d)
• How can FFD4 strengthen international cooperation to ensure that developing countries and local communities endowed with critical minerals and commodities fully benefit from these resources? (action 39a)

Programme

Panel discussion 7 on specific actions in the first draft of the outcome document on ‘II.B. Domestic and international private business and finance’

Introductory remarks and moderation

H.E. Ms. Merete Fjeld Brattested, Permanent Representative of Norway to the United Nations

H.E. Mr. Chola Milambo, Permanent Representative of Zambia to the United Nations

Panelists

Mr. Ramon Boone, Ministry of Finance, Belgium

Mr Anthony Swan, Director, Development Finance and Economics, Department of Foreign Affairs and Trade, Australia

Discussants    

Mr. Thomas Beloe, Director, Sustainable Finance Hub, UNDP

Interactive discussion (2-minute time limit)

Background and Guiding Questions

Private business activity, investment, and innovation have acted as significant drivers of sustainable development since the adoption of the Addis Agenda. Nonetheless, global investment growth has decelerated in recent years. Despite increased attention to innovative finance instruments such as blended finance and the growing adoption of sustainable business and finance legislation, investment in sustainable development has fallen short of expectations, nor have companies and investors adequately prioritized sustainable development.

The first draft of the outcome document commits to actions to address key barriers: underdeveloped financial and capital markets in many developing countries; insufficient access to concessional and affordable finance, particularly for women, marginalized groups, and micro, small, and medium-sized enterprises; and the continued misalignment between short-term financial incentives and long-term sustainable development impact. Actions include enhanced capacity support, and adoption of policy frameworks and incentives for sustainable private investment at national and global levels.

Panelists in this session are invited to pay particular attention in their interventions on the proposals on SME and local currency financing, on private capital mobilization for sustainable development impact and standardization of relevant instruments, and on the business case for sustainable business and finance and relevant regulations. They are invited to address the following questions:

• What practical steps can be taken to strengthen domestic financial markets and local economies - including local banks - to expand MSMEs’ access to affordable credit, particularly in developing countries? (action 27g)
• How can the availability of local currency lending be increased to mobilize additional private capital for sustainable development, and what role should MDBs and DFIs play in scaling these efforts, including in improving impact? (action 28l, 31n)
• How can innovative financing mechanisms (e.g. blended finance, impact investment, and thematic bonds) be scaled and made more accessible to investors, to support sustainable development investment? (action 28g)
• How can governments and regulators build the right enabling environments and regulatory frameworks for sustainable business and finance, in alignment with both national development priorities and international standards for cross-border investment? (action 29 d-g)