UNITED NATIONS, Sep 19 (APP):Pakistan fully supports China’s Global Development Initiative (GDI) that focuses on cooperation and partnerships and addresses such issues as extreme poverty, food security and climate change, Caretaker Prime Minister Anwwar-ul-Haq Kakar said Tuesday, while underscoring the need for adequate finance for the development process.
“The GDI can serve as a mechanism to enable developing countries, with assistance from UN agencies, to prepare a pipeline of viable and bankable projects in their priority areas,” he told a high-level meeting on GDI and Sustainable Development Goals (SDGs) on the sidelines of the 78th Session of the UN General Assembly.
The meeting was presided over by China’s Vice President Han Zheng.
The Global Development Initiative (GDI) was launched by Chinese President Xi Jinping on September 21, 2021.
“Pakistan and China are iron brothers who enjoy an all-weather strategic cooperative partnership. The Belt and Road Initiative and the China-Pakistan Economic Corridor are vital vehicles for achieving the SDGs,” PM Kakar said.
The prime minister referred to the devastation of most developing countries’ economies by the poly-crises of — Covid, conflict and climate change — and said that China had extended invaluable support for the achievement of the SDGs.
He pointed out GDI and its Group of Friends have identified eight sectors and areas for priority action, including strengthening domestic food production; larger public and private investment in sustainable infrastructure; expanding domestic manufacturing and industrial capacity; building resilient healthcare systems, and eliminating the “digital divide”.
“Adequate and appropriate finance is critical at all levels of the development process,” PM Kakar said, noting the current gap in financing for the SDGs is $ 4.2 trillion annually.
“The GDI can help bridge this gap, especially by securing implementation of the commitments made by developed countries at the SDG Summit to mobilize financing for the SDGs,” the prime minister said.
Pakistan, he said, commended President Xi’s announcement that China would set up another fund of $10 billion dedicated to the implementation of the GDI.
“Pakistan looks forward to enhancing its cooperation with the Group of Friends of GDI to advance our shared commitment for implementation of the SDGs”, PM Kakar added.
