“If there has ever been a necessity for a partnership, it’s now”, ECOSOC President Munir Akram stated in his opening remarks on the digital assembly.
Emphasizing the distinctive position of the UN in bringing nations, companies and civil society collectively, he described a number of areas the place partnerships can be utilized to deal with COVID-19[female[feminine and reach the Sustainable Development Goals (ODD).
Vaccines for all
Mr Akram said overcoming the pandemic is the top priority, which calls for universal and equitable access to vaccines and related materials, equipment and technologies. Countries must also work together to prevent millions of people from falling into extreme poverty and destitution.
“It means helping the poorest with direct and indirect economic support and social safety nets,” Akram said. “It means giving the poorest countries fiscal space through debt relief, emergency grants and concession funding to save lives and livelihoods.”
The pandemic recovery must also be supported. He said if richer countries have spent some $ 17 trillion on reviving their economies, developing countries will need around $ 4.3 trillion not only to recover from the pandemic, but also to recover from the pandemic. return to the path of sustainable development.
Promote financing solutions
The President of ECOSOC said global partnerships should help promote financing solutions such as debt restructuring, low-interest loans and increased foreign investment. Another important element is the creation of $ 650 billion in new Special Drawing Rights (SDRs), a type of foreign exchange reserve asset developed by the International Monetary Fund.
“We must correct the structural economic and social inequalities between and within nations, in particular through reformed and equitable instruments in the fields of trade, investment, taxation and technology,” continued Mr. Akram.
He added that about $ 100 trillion in investments in sustainable infrastructure will be needed over the next three decades to build a resilient and environmentally friendly global economy.
Pandemic Recovery Fund
The overall costs of the pandemic have been considerable, Jens Wandel, special adviser to the UN secretary-general on reforms, told ambassadors.
He reported on the United Nations COVID-19 Response and Recovery Fund, established to help countries cope with the staggering social and economic impacts of the crisis.
The Fund has supported innovations in the fields of health and education, such as the digitization of health in Morocco and the establishment of telehealth technologies in Tajikistan.
Mr Wandel recommended that as the international community begins to move towards recovery, “some of the partnerships should also look at the innovation that has taken place … and then seek not only to support them, but also to scale them. “