H.E. Obaid Humaid Al Tayer participates in the United Nations Finance Ministers meeting

H.E. Obaid Humaid Al Tayer Minister of State for Financial Affairs, participated yesterday in the virtual United Nations Finance Ministers meeting to discuss a newly launched initiative on “Financing the 2030 Agenda for Sustainable Development in the Era of COVID-19 and Beyond.” That, in addition to launching a large-scale, coordinated, and comprehensive multilateral response to the COVID-19 emergency.

H.E. showcased the UAE’s leading regional position on the quest to realise the achievement of the sustainable development goals. H.E. also expressed the UAE’s ambition to advocate the advancement of SDGs both on regional and on global scales. H.E. said: “The path to recovery from the current crisis calls for the high demand for innovative and scalable approaches to diversify and enable the financing of the Sustainable Development Goals 2030.”

This Initiative was first launched on May 28 2020, whereby six working groups were responsible for preparing policy options within the following six areas: External finance and remittances, jobs and inclusive growth; Recovering better for sustainability; Global liquidity and financial stability; Debt vulnerability; Private sector creditors engagement; and Illicit financial flows.

The Ministers of Finance built on the outcome from the six groups’ deliberations to agree on a single ambitious menu of policy options with key highlights to be presented to the Heads of State on September 29. This menu of policy options offers non-binding consideration for the short-term recovery, the medium-term financial resources mobilisation to achieve the 2030 Agenda and its Sustainable Development Goals, and the long-term resilience and sustainability of the global financial architecture.

193 Member States of the United Nations, along with key UN entities and experts attended the meeting, who were invited by the UN Deputy Secretary-General Amina Mohammad and the Finance Ministers of Canada and Jamaica.