Statement delivered by His Excellency Neil Parsan on behalf of the Caribbean Community (CARICOM) at the General Debate of the 2026 ECOSOC Forum on Financing for Development
Mr. President, Excellencies,
I have the honor to deliver this statement on behalf of the fourteen Member States of the Caribbean Community (CARICOM). We align with the statement delivered by the representative of Uruguay on behalf of the G77 & China and Palau on behalf of the Alliance of Small Island States (AOSIS).
Mr. President,
CARICOM welcomes this opportunity to engage in the in-depth review of key action areas under the Sevilla Commitment. This discussion comes at a critical juncture, as our countries continue to confront constrained fiscal space, high debt burdens, and escalating climate impacts, all of which undermine our capacity to achieve sustainable development. Notwithstanding these difficulties, the international community must remain steadfast in its collective commitment to the pursuit of sustainable development.
Mr. President, allow me to highlight a few priorities, for CARICOM:
First, on private business and finance, we underscore the importance of mobilizing greater volumes of affordable and accessible private capital to support sustainable development. This includes addressing the decline in correspondent banking relationships, which continues to constrain financial flows and access to the global financial system. It also requires enhanced mechanisms for de-risking investments, strengthening partnerships, and aligning private finance with national development priorities. We further emphasize the need for innovative financing instruments that can better respond to the unique vulnerabilities of our economies. The Antigua and Barbuda Agenda for SIDS offers practical approaches to addressing the underlying barriers in accessing and mobilizing finance for SIDS and CARICOM therefore reiterates its call for its full implementation.
Second, on trade, CARICOM stresses the importance of a fair, inclusive, and rules-based multilateral trading system. For our small and open economies, trade remains a vital engine of growth and resilience. We call for enhanced support to build productive capacity, improve competitiveness, and address longstanding structural constraints, including high transportation costs and limited market access.
Third, with respect to the international financial architecture, CARICOM reiterates the urgent need for reform. The current system must become more inclusive, responsive, and representative of the realities of SIDS. We call for greater access to concessional financing, the use of criteria beyond GDP, such as the Multidimensional Vulnerability Index (MVI), and the strengthening of global financial safety nets. Ensuring that SIDS have a meaningful voice in decision-making processes remains essential.
Fourth, on data, monitoring, and follow-up, CARICOM highlights the importance of robust, high-quality, and disaggregated data to inform policy decisions and track progress. Capacity constraints in data collection and analysis must be addressed through enhanced technical and financial support. Effective monitoring and accountability mechanisms are critical to ensuring that commitments made under the Sevilla Commitment translate into tangible outcomes. We also use this opportunity to highlight progress in initiatives such as the SIDS Centre of Excellence and its Global Data Hub, which aims to strengthening national data infrastructure, digital systems, and institutional capacity of SIDS while improving access to disaggregated, high-quality, and timely data.
Mr. President,
CARICOM remains committed to working with all stakeholders to advance a more equitable and resilient global financial system. We call for strengthened multilateral cooperation and renewed political will to ensure that the implementation of the Sevilla Commitment delivers meaningful outcomes for present and future generations.
I thank you.