The EU and the Organization of African, Caribbean and Pacific States (OACPS) have issued a joint statement reaffirming their commitment to the United Nations 2030 Agenda and its Sustainable Development Goals (SDGs) for the 4th UN Conference on Financing for Development (FfD4).

The parties have called for a renewed and ambitious global financing framework to accelerate progress towards sustainable development in a statement approved today by the Council of the EU.

Global financing needs

In the joint statement, both parties emphasized the urgent need to close the global financing gap for achieving the SDGs through the effective use of all sources of financing—public and private, domestic and international. They stressed the importance of Multilateralism, the rules-based international order, and a stable, fair, secure, inclusive, transparent and predictable global trading system, particularly in light of the current fragmented and uncertain geopolitical climate.

Recognizing the European Union’s longstanding leadership in development cooperation—as the world’s largest provider of Official Development Assistance (ODA)—the statement called for increased efforts to meet international ODA targets. It also emphasized the importance of mobilizing private finance and using innovative financing instruments, such as green and blue bonds and public-private investment funds, as well as remittances and diaspora investment.

Learn more:

• Joint Statement of the OACPS and the EU for the Fourth International Conference on
  Financing for Development (FfD4)
• The Samoa Agreement