Distinguished Co-Chairs,

I have the honor to deliver this statement on behalf of the Alliance of Small Island
States (AOSIS). We align with the statement delivered by Iraq, on behalf of the
Group of 77 and China.

At the outset, allow me to express my congratulations to both of you for your
astute leadership and dedicated commitment in steering the work of our
Preparatory Committee. We also express our appreciation to your experts and to
the Secretariat for their tireless efforts, support and cooperation.

Distinguished Co-Chairs,
Over the last five months, whether on its own or through the G77, AOSIS has
engaged constructively and in good faith throughout the negotiations of the
outcome document. We engaged in the spirit of reaching a substantive, ambitious
and truly transformative global financing framework that will address the deeply
entrenched inequities and shortfalls in our international financial architecture.
The outcome document, Compromiso de Sevilla, approved by this Preparatory
Committee, while not perfect, provides us with not only a roadmap to address the
most pressing financial challenges of our time, but reinforces our commitment
towards financing for development, in a manner that strengthens multilateralism
and inclusivity where it is needed most.

In this regard, Distinguished Co-Chairs, allow me to raise the following key points,
in explanation of position.

First, in the thirty years since the recognition of SIDS as a special case for
sustainable development, our countries have faced numerous external shocks and
crises that have severely constrained, or in some cases reversed, our development
gains. The SIDS situation has remained largely unchanged since Addis Ababa.
On this note, AOSIS welcomes the inclusion of language in the outcome that
speaks clearly to countries in special situations, the LDCs, LLDCs and SIDS, and
that we commit to address their needs and challenges.

While we understand that our dear cofacilitators pursued a concise outcome, we
must also not forsake our foundational principles for brevity, and we highly
appreciate that together, as an international community, we are continuing to send
a clear message that no one will be left behind.

AOSIS also welcomes the outcome’s dedicated focus on specific issues and
challenges facing SIDS, such as support for the implementation of the Antigua and
Barbuda Agenda for SIDS, including the Center of Excellence, the SIDS Debt
Sustainability Support Service, the Island Investment Forum and SIDS Data Hub,
as well as the multidimensional vulnerability index and improved trade capacity
and market access for SIDS.

As large ocean states, the inclusion of ocean finance in the outcome also marks a
critical recognition of the ocean’s central role in ensuring no one is left behind. As
the least funded SDG, our efforts to mobilize financial resources for marine
conservation and blue economy initiatives will place the ocean as a central pillar
of our sustainable development.

We are also particularly pleased to see a more nuanced reference to the issue of
Financial Action Task Force standards, and their unintended consequences, as
well as the need to address the decline in correspondent banking relationships in
SIDS.

Distinguished Co-Chairs,
Second, at the beginning of this process, AOSIS stressed that this outcome
document must not in any way renege, rewrite or dilute the principles,
commitments and decisions agreed upon under existing legal frameworks,
including the UNFCCC and its Paris Agreement.

It is for this reason, AOSIS is deeply concerned by what is becoming a pervasive
practice by some delegations to constantly use UN processes to try to renegotiate
and reinterpret decisions of the United Nations Convention on Climate Change
forum, particularly when it comes to climate finance.

It is truly disappointing that we have had to spend the entire process defending
the existing commitments under the UNFCCC and the Paris Agreement, only to
resort to the bare minimum just to safeguard the integrity of existing obligations
and agreements under the UNFCCC forum.

The aspiration for climate ambition requires all States Parties to meet their
commitments, including those on climate finance, in line with their obligations
under the UNFCCC and its Paris Agreement, as well as the decisions of its States
Parties. We need developed countries to honour their obligations and fulfil their
financial commitments.

Lastly, Distiguished Co-Chairs, on the issue of debt and debt sustainability, AOSIS
reiterates that a substantial solution on the debt crisis is urgently needed. We
welcome that the outcome document contains many forward-looking proposals
that will bring some relief to the situation.

However, at the same time, we do believe in some areas the document has fallen
short. We are disappointed that we did not achieve a stronger call to the G20 to
urgently reform the Common Framework and to expand its support to SIDS.
There is also considerable disappointment that we could not find agreement on an
international debt convention or a sovereign debt mechanism outright.

While this was one of our major priorities, we do appreciate the co-facilitators’
wise approach that opens the door for an interngovernmental process on debt.
We call on all delegations to seize this opportunity to truly make a global
sovereign debt architecture that is more inclusive and more developmentoriented.
In closing, to the cofaciliators of the outcome document, the distinguished
Ambassadors of Norway, Nepal, Mexico and Zambia, as well as your experts,
AOSIS deeply appreciates your steadfast leadership, seemingly inexhaustible
commitment and tireless efforts in steering a transparent and inclusive line-by-line
text-based negotiation.
You are all welcome to visit any of our beautiful members for a well-deserved rest.

Distinguished Co-Chairs,
AOSIS welcomes the recommendation of the outcome document by the
Preparatory Committee, and look forward to its smooth adoption at the Fourth
International Conference in sunny Sevilla, as well as its future implementation.
I thank you.