Belitung, Indonesia
Good morning, everyone, and thank you, Dr. Monoarfa, for your remarks. I’d also like to thank Bappenas for its commitment to development and the Indonesian government for its leadership during Indonesia’s G20 presidency. Thank you as well to my other development minister colleagues as we assemble to address some of the world’s greatest challenges.
Strong headwinds are pushing against our progress on the Sustainable Development Goals – the lingering effects of the COVID-19 pandemic, a looming global recession, and the raging climate crisis – and unfortunately, the winds grew much stronger when Vladimir Putin decided to invade a democratic neighbor.
The United States condemns the Russian Federation's unprovoked invasion of Ukraine in the strongest terms possible. The invasion is horrific for the people of Ukraine and is unraveling years of development progress around the world. For months, Putin held Ukrainian grain hostage, leading to record global food prices, disrupting already fragile food systems, putting millions of lives at risk of starvation and unwinding progress on goal number two: zero hunger.
On our climate goals, because of Russia’s willingness to use energy as a weapon of war – specifically, disrupting gas supplies – more countries are being forced to turn to dirtier fuels.
Despite this reality, the United States remains committed to the Sustainable Development Goals, and with our partners, we will address the challenges ahead of us.
If we are to create a more sustainable recovery, especially in developing nations, we must accept the reality that it will require not billions – but trillions of dollars of investments.
To build stronger roads that will withstand floods like the one that devastated Pakistan last month, or to prevent farmland across Africa from drying out, spending from governments alone won’t cut it. We must tap into the innovation and capital of the private sector to mitigate and adapt to the worst effects of the climate crisis.
As just one example, through USAID’s INVEST program, we worked with a sustainable, female-owned Nigerian tomato company and secured $4.4 million in equity from the private sector. These investments helped us not only support sustainable farming techniques and grow a women-owned enterprise, but also increased the wages of farmers in one of the world’s poorest regions.
And to ensure that all nations can recover and provide for their people in light of the substantial economic disruptions of the last few years, bilateral creditors – including the People’s Republic of China – should work with nations in debt distress to restructure lending terms, including through the Common Framework, where needed.
The Sustainable Development goals were designed to be large because the crises they aim to address are even larger. If we are truly going to create a better future, it will require unconventional solutions and close partnerships between those of us here and with every facet of society.
Thank you.