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ISLAMABAD: Prime Minister Imran Khan will deliver the opening statement at the Economic and Social Council (ECOSOC) Forum on Financing for Development (FfD) today (Monday), Foreign Office said. The Forum will be held from 12-15 April 2021 under Pakistan’s Presidency of ECOSOC which will be participated by 10 Heads of State/Government and 50 Ministers from various countries. The 4-day FfD forum will be presided over by Pakistan’s Permanent Representative to the UN, Ambassador Munir Akram.

The objective of the Forum is to mobilize adequate financial support to enable the developing countries to recover from the impact of the Covid pandemic and achieve the Sustainable Development Goals (SDGs) and the climate objectives. The Special high-level segment of the ECOSOC Forum is being held in response to a decision of the UN General Assembly.

In a statement, the Foreign Office said that Prime Minister Imran Khan has been in the forefront of the international efforts to provide developing countries with the fiscal space and liquidity to respond to the current Covid induced economic recession.

It stated that the Prime Minister advanced the “Global Initiative on Debt Relief” for developing countries in April 2020 and, in January 2021, he proposed a 5-point financial action plan encompassing debt relief, creation and redistribution of Special Drawing Rights (SDRs) by the IMF, larger concessional assistance, mobilization of climate finance, and end to illicit financial flows from the developing countries.

In his address, the Prime Minister will call on the international community to take bold and urgent decisions to respond to the challenges posed by the Covid crisis, achievement of the Sustainable Development Goals, and climate solutions.

“There are high expectations from the FFD Forum. Ten Heads of State/Government and 50 Ministers will participate in the Special Segment, which will be inaugurated by Prime Minister Imran Khan,” it added.

The Forum envisages six panel discussions revolving around the themes of resilient recovery, recurrent debt crises, pandemic response and recovery, liquidity for vulnerable countries, and a climate resistant future.

Deputy Chairman Planning Commission Dr Jehanzeb Khan, will also participate as a panellist.

An Investment Fair is being organized virtually on the sidelines of the FfD Forum. Four countries, including Pakistan, will present specific sustainable development projects at the Fair. Foreign Minister Shah Mahmood Qureshi will introduce Pakistan’s investment opportunities and projects to the investors at the fair, it added.

Copyright Business Recorder, 2021

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