President William Ruto has urged United Nations member states to support a key document emerging from the Fourth International Conference on Financing for Development, calling it vital for sustainable global progress.
Speaking in Seville on Monday, President Ruto said that the outcome document paves the way for fairer multilateral cooperation and stronger representation for developing nations in global financial institutions.
“Africa is not asking for favours. We want fairness, partnership, and investments,” he said.The president pointed out that the outcome document at Seville calls for strengthening of the global economic governance by amplifying the voice and representation of developing countries in international financial institutions.
He also urged credit rating agencies to revise their approach in evaluating African economies.
On trade, President Ruto highlighted Africa’s potential as a hub for green production and industrial innovation.
“No country has achieved lasting prosperity without manufacturing and export diversification,” he said.He also commended the recognition of trade and industrialisation as drivers of structural transformation saying that Africa is ready to become the next global frontier for production and innovation.
“No country has achieved lasting prosperity without manufacturing and export diversification,” the President explained.He called for trade rules and pricing systems that reward green production and support decarbonisation efforts.
UN chief Guterres said that the conference at Seville aims to change the course of development financing and reignite the engine of growth, accelerate investment, and restore fairness and justice globally.
“The commitment is a global promise to fix how the world supports countries as they climb the development ladder,” he said.