Mr. President of the Conference, Secretary-General Guterres,

Presidents,

Prime Ministers,

Excellencies,

Ladies and Gentlemen,

Let me start with a fact: Last year, global development aid was just over USD 200 billion. The annual investment gap for the Sustainable Development Goals is in the trillions of USD. To bridge this gap, we need a shift in our approach and innovative financing methods. This is the essence of the Compromiso de Sevilla we agreed on today, showcasing Europe’s commitment with global partners.

Here are three key points: First, we must optimize public investment. The European Union accounts for 42% of global development aid, and we stand by this commitment. With new donors emerging, let’s collaborate on joint investment programs that leverage our strengths for maximum effect. We recently established a partnership with India for investments in third countries and will extend this to other like-minded nations.

Second, domestic taxation is vital. It is the most sustainable source of funding for critical services like healthcare and education, and a fair tax system is essential for attracting private investment. We must implement the G20-OECD agreement on international corporate tax rules to bolster revenues in developing economies, ensuring that everyone pays their fair share.

Third, engaging the private sector is crucial. The private sector plays a key role in Europe’s Global Gateway investment program, which has mobilized nearly EUR 180 billion for transformative development projects in our partner countries. We are on track to exceed our initial target of EUR 300 billion in 7 years. At the Global Gateway Forum in October in Brussels, we will announce further progress.

In summary, our message today is straightforward: Europe is ready to invest and innovate. In these times of global uncertainty, you can count on us to support multilateralism. And to my esteemed friend Ngozi, I listened closely and you have my full backing for WTO reform.

Thank you very much, and I wish us a successful conference.