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FM Bilawal stresses on the need for rapid deployment of sustainable infrastructure to transition to a sustainable global economy

NEW YORK, Dec 16, (SABAH): Foreign Minister Bilawal Bhutto Zardari has stressed on the need for rapid deployment of sustainable infrastructure – energy, transportation, housing, manufacturing, agriculture – to transition to a sustainable global economy, welcomed initiatives such as China’s BRI and G-7’s Global Infrastructure Initiative.

This was stated by Bilawal Bhutto Zardari in a statement issued on twitter on Friday. Bilawal Bhutto said that he convened and chaired the United Nations Ministerial Conference of G77 and China on “Achieving the SDGs: Addressing Present Challenges and Building Resilience Against Future Crises”.

Bilawal Bhutto said that in opening remarks he highlighted that the developing countries suffered disproportionately from multiple crises,

Covid-19 pandemic; supply chain disruptions; spiraling prices; depreciating currencies; climate-induced disasters and geopolitical tensions, including Ukraine war and accompanying restrictions have disproportionately impacted developing countries.

Bilawal Bhutto Zardari said that he proposed several emergency measures and systemic reforms to revive the economies of the developing countries such as the reform of the international financial architecture (as proposed by UNSG), including a multilateral mechanism for the sustainable debt management.

FM Bilawal Bhutto said that he called for implementation of the climate change agenda and commitments in according with the principle of equity and common but differentiated responsibilities and respective capabilities and called for urgent operationalization of the fund for “loss and damage”.

Bilawal Bhutto said that the Conference is expected to endorse many of Chair’s proposals in its Outcome Doc. The adaptation of this strategy document will assist G77 to secure tangible results in forthcoming Conferences; SDG Summit in Sept. 2023, CoP28 next Nov. in Dubai, and at Summit of the Future in 2024.

Bilawal Bhutto said that he finally, appreciated Ministers’ kind words said for leadership of Pakistan as Chair of G77 and China for several tangible advances during its presidency including the establishment of the Loss & Damage Fund at CoP27.