The European Union (EU) and the Organisation of African, Caribbean and Pacific States (OACPS) have restated their commitment to the UN’s 2030 Agenda and the Sustainable Development Goals (SDGs) as the Fourth UN Conference on Financing for Development. In a joint statement, both groups called for a stronger global financing plan to speed up progress on sustainable development.
The statement points to a big problem: the world is still far from closing the funding gap needed to reach the SDGs. Both the EU and OACPS say all sources of money—public and private, local and international—need to be used better. They also stress the need for fair and open global trade, especially as the world faces more uncertainty and division.
The EU, as the world’s largest provider of official development aid, is being urged to keep pushing for international aid targets. But the statement also highlights the need to bring in more private money, use new tools like green and blue bonds, and tap into remittances and diaspora investments.
The Samoa Agreement is at the heart of the partnership between the EU and OACPS. Both sides say this deal is key for working together on the SDGs and the Paris climate goals. They also want to see new ways to measure progress, like the OACPS Multidimensional Vulnerability and Resilience Index, which looks beyond just GDP.
Debt, tax collection, and stopping illegal money flows are all flagged as areas where countries need to work together. The statement backs ongoing changes to the global financial system, including giving developing countries a bigger voice in major banks and institutions.
The EU and OACPS also welcome recent moves to send more Special Drawing Rights (SDRs) to countries that need them most. They point to the EU’s Global Gateway and Team Europe programs as examples of how to support investment in energy, digital networks, health, education, and transport.
In closing, both groups say they are determined to keep working together to raise the money needed and deliver on the SDGs by 2030.
