STATEMENT BY AMBASSADOR BURHAN GAFOOR, PERMANENT REPRESENTATIVE OF THE REPUBLIC OF SINGAPORE TO THE UNITED NATIONS AT THE FIRST BIENNIAL SUMMIT FOR A SUSTAINABLE, INCLUSIVE AND RESILIENT GLOBAL ECONOMY: IMPLEMENTING COMMITMENTS ON FINANCING THE SDGs 24 SEPTEMBER 2025 UNHQ ECOSOC CHAMBER

1 Thank you very much, Mr President, for convening this meeting. I wish to make three points on behalf of Singapore.

2 First, the international financial architecture must evolve to reflect contemporary economic realities. The 17th IMF Quota Review  must deliver a meaningful realignment, giving developing countries greater voice and representation. Multilateral Development Banks must also work in closer synergy to mobilise resources more effectively. Regional platforms such as the ASEAN Catalytic Green Finance Facility show how tailored approaches can scale and channel more capital into green infrastructure. Singapore has established the Financing Asia’s Transition Partnership (FAST-P) initiative, to deploy blended finance at scale to de-risk and finance green and transition projects across Asia. Singapore has committed up to US$500 million in concessional funding to support this initiative.  

3 Second, international reform must rest on strong domestic foundations. Progressive and resilient tax systems – backed by strong tax administrative capabilities, firm anti-corruption measures, and the use of digital tools – are essential to enhance domestic resource mobilisation and build confidence. 

4 Third, true economic resilience depends on inclusivity. Micro, Small, and Medium Enterprises (MSMEs) remain the backbone of many economies, and they need greater support through digitalisation and improved access to credit. Investing in human capital is equally vital to equip our people for the green and digital transitions. In Singapore, our SkillsFuture initiative has enabled our citizens to continuously upgrade their skills, ensuring that growth creates jobs and leaves no one behind.

Mr President,

5 Multilateralism is under severe strain. Yet, it remains alive and relevant, as we have seen in the adoption of the Pact for the Future last year and more recently, the Compromiso de Sevilla. We must now harness the collective wisdom gathered here to translate these commitments into sustained and pragmatic reforms. 

6 Singapore stands ready to work with all partners. We are beginning an important conversation this afternoon. The path ahead of us long, but I am confident we can make progress if we work together.

7 Thank you. 

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