STATEMENT
BY H.E. MRS. KENYEH BARLAY
MINISTER OF PLANNING AND ECONOMIC DEVELOPMENT OF THE REPUBLIC OF SIERRA LEONE
Madam President,
Excellencies,
Distinguished Delegates,
Let me start by thanking the ECOSOC President for convening this forum at a crucial time when urgent and collective efforts are required to rescue the SDGs.
Sierra Leone aligns itself with the statements delivered by Uganda on behalf of the G77, and China and Nepal on behalf of the LDCs, respectively.
This 2024 Financing for Development Forum is taking place within a scenario in which, we are still grappling with significant Global challenges and uncertainties. Including socio-economic shocks and debt burdens that are severely impacting the implementation of the SDGs, together with the existential threat of climate change.
Additionally, LDCs continue to bear the brunt of these multiple and overlapping crises. In this regard, we call for a concrete implementation plan to support LDCs in mobilizing resources to finance service delivery and achieve the SDGs.
For Sierra Leone, this Forum could not have come at a better time, as we have just commenced implementation of our New Medium-Term National Development Plan 2024-2030, which has an estimated financing gap of US$2.56 billion.
To address the fiscal and financing challenges in our new Plan, the Government of Sierra Leone is committed to adopting innovative financing instruments, including Strengthening the implementation of the Sierra Leone Integrated National Financing Framework (INFF), strengthening the public financial management systems, harnessing the country’s climate finance potential as well as increasing investment and partnership opportunities.
Madam President,
All of these are expected to build on the gains of the past few years, including measures to strengthen the country’s tax administration and revenue collection architecture and the National Strategy for Financial Inclusion.
Further Madam President, to complement national efforts, urgent reform of international financial architecture, technology transfer, as well as climate finance are necessary to address the financing needs of developing countries.
We therefore call on developed countries to fulfill their development finance commitments and consider debt treatments for vulnerable countries, as well as reallocating unused Special Drawing Rights to developing countries in need.
As I conclude, Madam President, let me emphasize that Sierra Leone, is committed to working with various Development Partners to transform our economy, build resilient systems, and ultimately achieve the objectives of the Summit of the Future. I Thank You All.
