[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-110120-en":3,"doc-seo-110120-105":31,"detail-sidebar-cat-0-en-105":92},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":20,"is_deleted":4,"is_public":21,"is_downloadable":21,"audit_status":21,"page_count":22,"language":23,"language_code":24,"site_id":25,"html_lang":24,"table_of_contents":26,"faqs":27,"seo_title":28,"seo_description":14,"update_tm":29,"read_time":30},110120,687197100911,"Himbo","https://ap-avatar.wpscdn.com/avatar/a000239b6f1da00475?x-image-process=image/resize,m_fixed,w_180,h_180&k=1785132997149421697",8,"Research & Report","Statement by Achim Steiner - 107th Meeting of the Development Committee - April 12, 2023","Statement by Achim Steiner, Administrator of the United Nations Development Programme, delivered at the 107th Meeting of the Development Committee (April 12, 2023, Washington, DC). The statement calls for massively scaling affordable long-term financing aligned with the SDGs, improving lending terms of multilateral development banks, and addressing the high cost of debt and rising debt-distress risks. It highlights severe global setbacks from shocks such as COVID-19 impacts, the war in Ukraine, inflation, weak growth, and climate emergencies.","Public Disclosure Authorized Public Disclosure Authorized  \nDEVELOPMENT COMMITTEE  \n(Joint Ministerial Committee  \nof the  \nBoards of Governors ofthe Bank and the Fund  \non the  \nTransfer of Real Resources to Developing Countries)  \nONE HUNDRED AND SEVENTH MEETING WASHINGTON, DC – APRIL 12, 2023  \nDC/S/2023-0028 April 12, 2023  \nStatement by  \nAchim Steiner Administrator of the United Nations  \nDevelopment Programme  \nUnited Nations  \nU N I T E D N A T I O N S  N A T I O N S U N I E S  \nStatement by  \nAchim Steiner  \nAdministrator of the United Nations Development Programme  \nUnited Nations  \n107th Meeting of the Development Committee  \nApril 12, 2023  \nWashington, DC  \n“We need to massively scale up affordable long-term financing by aligning all financing flows to the SDGs and improving the terms of lending of multilateral development banks. The high cost of debt and increasing risks of debt distress demand decisive action to make at least $500 billion dollars available annually to developing countries and convert short term lending into long term debt at lower interest rates.”1  \nUnited Nations Secretary-General Mr. António Guterres  \n1. Development Setbacks: Breaking the Cycle of Crises  \nThe global economy is facing multiple shocks that threaten to further reverse progress on the Sustainable Development Goals (SDGs) . The COVID-19 pandemic socio-economic impacts, impacts from the war in Ukraine, high inflation, weak economic growth, tightening monetary and financial conditions, and unsustainable debt burdens – along with an escalating climate emergency – are wreaking havoc on economies across the globe. The effects of these cumulative shocks severely limit fiscal space in developing countries and are hurting their growth prospects. Impacts are aggravated by an unfair global financial system that is short-term oriented and crisis-prone, further exacerbating inequalities.  \nFor the first time in 32 years, the Human Development Index, which measures a nation’s health, education and standards of living, endured a steep decline two years in a row. Human development has fallen back to 2016 levels, reversing much of the progress towards the SDGs adopted in 2015. This reversal is nearly universal, as over 90 percent of countries registered a decline in their HDI score in either 2020 or 2021 and more than 40 percent declined in both years. In comparison, in the aftermath of the 2008 financial crisis, the HDI kept improving.  \nThe historic allocation of $650 in Special Drawing Rights by the International Monetary Fund, boosted liquidity at the height of the crisis. However, this allocation also demonstrated the inequality built into the global financial system. Based on current quotas, developed countries received 26 times more than Least Developed Countries, and 13 times more than all the countries of Africa combined. Emergency financing should automatically go to the neediest countries. Under the current system, it is widening inequalities.  \nA “great finance divide”, as highlighted by the 2023 Financing for Sustainable Development Report,2 has sharply curtailed the ability of many developing countries to invest in recovery, climate action, and sustainable development.  \n1 [https://www.un.org/sustainabledevelopment/blog/2023/02/press-release-un-secretary-general-calls-for-radical](https://www.un.org/sustainabledevelopment/blog/2023/02/press-release-un-secretary-general-calls-for-radical)transformation-of-global-finan-cial-system-to-tackle-pressing-global-challenges-while-achieving-sustaina-bledevelopment/  \n2 [https://developmentfinance.un.org/report](https://developmentfinance.un.org/report)  \n2. The UN Secretary General’s SDG Stimulus Plan  \nThe UN Secretary General’s SDG Stimulus Plan to Deliver Agenda 2030 (the SDG Stimulus)’3 calls for a minimum of $500 bn in additional financing per year, aimed at mitigating the effects of cumulative shocksand providing developing economies with better access to long-term and affordable fina","cbCaidntPKX2natO","https://ap.wps.com/l/cbCaidntPKX2natO","pdf",217351,4,1,5,"English","en",105,"# Statement by Achim Steiner\n## Call for long-term affordable financing aligned with the SDGs\n## Global setbacks to sustainable development and human development declines\n## UN Secretary-General’s SDG Stimulus Plan\n## Action area 1: Tackle debt distress risks and high cost of debt","[{\"question\":\"What financing actions does Achim Steiner call for at the Development Committee meeting?\",\"answer\":\"He calls for massively scaling up affordable long-term financing aligned with the SDGs, improving multilateral development banks’ lending terms, and converting short-term lending into long-term debt at lower interest rates.\"},{\"question\":\"Why does the statement emphasize debt distress and the cost of debt?\",\"answer\":\"It highlights sovereign debt reaching critical levels, with many countries facing defaults or default risks, and it notes that debt distress and high vulnerabilities limit fiscal space for development and climate action.\"},{\"question\":\"What is the SDG Stimulus and which main action areas does it propose?\",\"answer\":\"The SDG Stimulus aims for at least $500 billion additional financing annually to mitigate cumulative shocks. It proposes three action areas: address high debt costs and debt distress risks, scale up affordable long-term development financing, and expand contingency financing for countries in need.\"}]","Statement by Achim Steiner - 107th Meeting of the Development Committee - April 12, 2023 | PDF",1784483987,13,{"code":4,"msg":32,"data":33},"ok",{"site_id":25,"language":24,"slug":34,"title":13,"keywords":35,"description":14,"schema_data":36,"social_meta":87,"head_meta":89,"extra_data":91,"updated_unix":29},"statement-by-achim-steiner-107th-meeting-of-the-development-committee-april-12-2023","",{"@graph":37,"@context":86},[38,54,69],{"@type":39,"itemListElement":40},"BreadcrumbList",[41,45,49,52],{"item":42,"name":43,"@type":44,"position":21},"https://docshare.wps.com","Home","ListItem",{"item":46,"name":47,"@type":44,"position":48},"https://docshare.wps.com/document/","Document",2,{"item":50,"name":12,"@type":44,"position":51},"https://docshare.wps.com/document/research-report/",3,{"item":53,"name":13,"@type":44,"position":20},"https://docshare.wps.com/document/statement-by-achim-steiner-107th-meeting-of-the-development-committee-april-12-2023/110120/",{"url":53,"name":13,"@type":55,"author":56,"headline":13,"publisher":58,"fileFormat":61,"inLanguage":24,"description":14,"dateModified":62,"datePublished":63,"encodingFormat":61,"isAccessibleForFree":64,"interactionStatistic":65},"DigitalDocument",{"name":9,"@type":57},"Person",{"url":42,"name":59,"@type":60},"DocShare","Organization","application/pdf","2026-07-29","2026-07-19",true,{"@type":66,"interactionType":67,"userInteractionCount":20},"InteractionCounter",{"@type":68},"ViewAction",{"@type":70,"mainEntity":71},"FAQPage",[72,78,82],{"name":73,"@type":74,"acceptedAnswer":75},"What financing actions does Achim Steiner call for at the Development Committee meeting?","Question",{"text":76,"@type":77},"He calls for massively scaling up affordable long-term financing aligned with the SDGs, improving multilateral development banks’ lending terms, and converting short-term lending into long-term debt at lower interest rates.","Answer",{"name":79,"@type":74,"acceptedAnswer":80},"Why does the statement emphasize debt distress and the cost of debt?",{"text":81,"@type":77},"It highlights sovereign debt reaching critical levels, with many countries facing defaults or default risks, and it notes that debt distress and high vulnerabilities limit fiscal space for development and climate action.",{"name":83,"@type":74,"acceptedAnswer":84},"What is the SDG Stimulus and which main action areas does it propose?",{"text":85,"@type":77},"The SDG Stimulus aims for at least $500 billion additional financing annually to mitigate cumulative shocks. It proposes three action areas: address high debt costs and debt distress risks, scale up affordable long-term development financing, and expand contingency financing for countries in need.","https://schema.org",{"og:url":53,"og:type":88,"og:title":13,"og:site_name":59,"og:description":14},"article",{"robots":90,"canonical":53},"index,follow",{"doc_id":7,"site_id":25},{"code":4,"msg":5,"data":93},[94,98,102,106,110,115,120,123,128,131,135],{"id":21,"doc_module":4,"doc_module_name":47,"category_name":95,"show_sort_weight":96,"slug":97},"Story & Novel",90,"story-novel",{"id":48,"doc_module":4,"doc_module_name":47,"category_name":99,"show_sort_weight":100,"slug":101},"Literature",80,"literature",{"id":20,"doc_module":4,"doc_module_name":47,"category_name":103,"show_sort_weight":104,"slug":105},"Exam",70,"exam",{"id":22,"doc_module":4,"doc_module_name":47,"category_name":107,"show_sort_weight":108,"slug":109},"Comic",60,"comic",{"id":111,"doc_module":4,"doc_module_name":47,"category_name":112,"show_sort_weight":113,"slug":114},6,"Technology",50,"technology",{"id":116,"doc_module":4,"doc_module_name":47,"category_name":117,"show_sort_weight":118,"slug":119},7,"Healthcare",40,"healthcare",{"id":11,"doc_module":4,"doc_module_name":47,"category_name":12,"show_sort_weight":121,"slug":122},30,"research-report",{"id":124,"doc_module":4,"doc_module_name":47,"category_name":125,"show_sort_weight":126,"slug":127},9,"Religion & Spirituality",20,"religion-spirituality",{"id":126,"doc_module":4,"doc_module_name":47,"category_name":129,"show_sort_weight":126,"slug":130},"World Cup","world-cup",{"id":132,"doc_module":4,"doc_module_name":47,"category_name":133,"show_sort_weight":132,"slug":134},10,"Lifestyle","lifestyle",{"id":136,"doc_module":4,"doc_module_name":47,"category_name":137,"show_sort_weight":22,"slug":138},19,"General","general"]