Measures unveiled to enhance sustainable development

A view of Beijing's CBD area on Nov 29, 2023. [Photo/Xinhua]

China on Friday pledged to take a series of measures, including expanding channels for financing and strengthening cooperation with multiple partners, to give durable and strong impetus to sustainable development.

Chinese top diplomat Wang Yi made the remarks when addressing the opening ceremony of the second High-Level Conference of the Forum on Global Action for Shared Development, which gathered representatives from over 110 countries and more than 30 international and regional organizations.

China will expand the global development capital pool, increase the special fund for global development and encourage stronger and continuous support from Chinese and foreign financial institutions, said Wang, who is director of the Office of the Foreign Affairs Commission of the Communist Party of China Central Committee and Foreign Minister.

Beijing will also provide more funding to support the global development project pool and prioritize "small and beautiful" projects directly benefiting people's livelihoods, he said.

China announced the establishment of the project pool and capital pool last July. So far, there are more than 1,000 projects in the project pool, and more than 500 of them are being implemented or have been completed.

The foreign minister also expressed a willingness to introduce more third-party and multi-party partnerships for cooperation on debt-for-development swaps to enrich practices for development cooperation.

In addition, China will provide 100,000 workshop training opportunities for Global South countries over the next five years, he said.

Facing challenges including the Ukraine crisis, the Gaza conflict and the sluggish global economic recovery, there remains a long way to go to achieve the United Nations 2030 Agenda for Sustainable Development, Wang said.

Ban Ki-moon, former secretary-general of the UN, said at the opening ceremony that the level of implementation of the 17 sustainable development goals is less than 20 percent, calling it a worrying situation.

China shows political and moral responsibility in its commitment to leading the implementation of the SDGs and the Paris Agreement on climate change, Ban said.

He said he counts on China's support and called on various parties to take action now to jointly shape and contribute to a sustainable, peaceful and prosperous future that could bring benefits to all and ensure that no one is left behind.

Egyptian Prime Minister Mostafa Madbouly said in a video speech that the China-proposed Global Development Initiative is a practical response to help accelerate the realization of the SDGs.

The successive crises and changes in the world have posed unprecedented challenges to development paths and increased the cost of achieving the SDGs, he said, adding that the GDI is conducive to mobilizing all forces and giving more impetus to achieve the SDGs.

He said Egypt looks forward to strengthening a comprehensive and sustainable partnership with China beyond bilateral relations, which includes tripartite cooperation, in particular with African countries.

In his video speech, Cuban President Miguel Diaz-Canel said that the China-proposed GDI has brought about a new model of cooperation for sustainable development that is more in line with the legitimate interests and aspirations of countries of the Global South.

Cuba welcomed the GDI early as it believes the initiative to be highly inclusive and consistent with the need to establish and promote a new, just and equitable international order, he said.