By Bola Olajuwon, Assistant Editor
UNITED Nations (UN) General Assembly President Tijjani Muhammad-Bande has stressed the need to mobilise sufficient resources to effectively contain COVID-19.
He stated this yesterday while addressing the Fifth Economic and Social Council (ECOSOC) Forum for Financing for Development in New York, United States.
Muhammad-Bande noted that this year’s forum is taking place at a critical moment when the world is contending with the novel coronavirus, which is putting health systems under stress.
He expressed his solidarity with member states, who are fighting COVID-19 and also extended his condolences to those who have lost loved ones.
“The COVID-19 crisis is bringing to light vulnerabilities and fragilities of our systems and institutions. Indeed the fault lines of rising debt risks and deepening inequalities are being amplified by COVID-19.
“This crisis has come just as we are embarking on the Decade of Action to implement the Sustainable Development Goals. However, our targets have not changed.
We must remain steadfast in our commitment to implement Agenda 2030 and the Addis Ababa Action Agenda. We must demonstrate even greater resolve than ever before and galvanise urgent multilateral action now.
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“Mobilising sufficient resources will be essential in order to effectively combat COVID-19. Moreover, it will be critical to restoring our societies and progressing along the path to 2030 and a sustainable world throughout this decade.
“While no country will be spared from the economic impact of this crisis, developing countries will be hit the hardest, even if they do not experience an outbreak of COVID-19. The most vulnerable countries face financial constraints, lack the fiscal space and capacity to cope with the crisis.
Moreover, developing countries will be most affected by the global economic repercussions of this crisis, due in part, to a slump in commodity prices and a reversal of financing flows. To build resilience for the poorest and most vulnerable people, we must ensure sufficient financing,” the UNGA President said.
Muhammad-Bande said COVID-19 is a global pandemic, and as such response to contain it “must be global, comprehensive and well-coordinated”.
“Our efforts must be directed towards all seven action areas of the Addis Agenda. This will entail taking effective fiscal and social measures and preventing mass unemployment by shoring up and bolstering businesses.
We need to promote fair trade and innovative financing and we must honour Official Development Assistance (ODA) commitments. Importantly, we must act urgently to prevent a potentially devastating debt crisis.
“Rising debt levels severely limit country’s ability to provide essential public services such as healthcare and social protection.
We must move swiftly on debt and concessional finance to support the most vulnerable people we serve. We must also advance steps to provide debt relief for countries. These approaches must be comprehensive and go beyond traditional debt to include all sources of debt.
Also yesterday, Muhammad-Bande reaffirmed the global organisation’s commitment to “promote harmony with nature to achieve a just, sustainable and prosperous society”.
In a statement celebrating International Mother Earth Day, Muhammad-Bande said: “Our experience with COVID19 demonstrates that we, humanity, are not separate from the world around us.
In this Decade of Action and Delivery to implement the Sustainable Development Goals, we are focused on nature. We must work together to protect our planet and ecosystems which affect every aspect of human life.”
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