Statement: Intersessional Consultations for the Fourth Int. Conference on FfD

Statement by H.E. Ms. Anna Johannsdottir
Permanent Representative of Iceland to the United Nations 
Intersessional consultations of the Preparatory Committee for the Fourth International Conference on Financing for Development
24 March, 2025

Thank you, Chair,
 
I am pleased to deliver these general comments on the First Draft of the FfD4 Outcome Document on behalf of Iceland. I would also like to take this opportunity to thank the co-facilitators for their tireless work throughout the process, and for the latest excellent iteration of the outcome document. 

On the process itself, we find it encouraging how these negotiations lead to conversation, coordination and cooperation between the UN and the IFI’s, between New York and Washington, D.C. Also, meaningful inclusion of civil society organizations has been, and remains, pivotal to the success of the work ahead. 

There are three main areas that we would like to highlight in our comments. 

Firstly, on gender equality, the imperative of ensuring the full and equal enjoyment of human rights and fundamental freedoms of women and girls is well captured in the document.  
However, the case for the economic benefit and opportunity of gender equality, as a precondition and enabler for sustainable development, and, indeed, financing for development, can be made more forcefully. 

It is vital that the creative potential of the entire workforce, including women, is leveraged to foster sustainable growth. Policies that enhance women’s economic and political participation and leadership will be key to realizing economic gains.   

In this regard, we reiterate that investing in SRHR in one of the most impactful ways to unlock women’s potential and address the women’s health gap, in which they currently spend 25 per cent more of their lives in poor health compared to men. Investing in SRHR not only empowers women but also fuels economic growth, with every one USD invested in family planning returning more than eight USD in benefits for families and societies. 

Secondly, we emphasize the importance of domestic resource mobilization (DRM) and stepping up private capital mobilization (PCM), particularly in the context of increasing pressure on ODA.  

However, we must recognize that these efforts are no substitute for ODA as there is only so much you can do without fresh grant funding. Indeed, the catalytic power of ODA is necessary to enable progress on DRM and PCM.  

Providing targeted support to countries seeking to increase their tax-to-GDP ratio to at least 15%, and strengthening domestic capital markets, are vital steps, and we are encouraged by the progress being made on these issues by the World Bank and the IMF. 

Thirdly, we want to highlight the need to build on existing solutions and platforms.

Recognizing the progress already being made within our multilateral system is important, and we must make sure that our efforts here in these negotiations strengthen and speed up these processes. In this regard, we welcome the reference to the Global Sovereign Debt Roundtable, as well as to the rapid progress being made on development financing at the World Bank.  

However, we must be mindful that recognizing and building on existing solutions is not a crutch for us to lean on. The job is far from done. Existing solutions should help us accelerate our progress, avoid duplicative work, and flip the script on aid fragmentation.  

I thank you.