The Pak Banker

Strengthen­ing uplift cooperatio­n key for COVID recovery: Munir Akram

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The President of United Nations Economic and Social Council (ECOSOC), Pakistani Ambassador Munir Akram, has urged States to boost developmen­t cooperatio­n, which is vital to tackle the dual challenge of recovering from the coronaviru­s pandemic and fighting climate change, as the 54-member body concluded a twoday forum on the subject.

Connecting participan­ts virtually, the Developmen­t Cooperatio­n Forum held two sessions - one addressing competing priorities of pandemic recovery and climate action, and the other focusing on regional cooperatio­n on science, technology and innovation in the COVID-19 era.

In his closing remarks, the ECOSOC chief expressed hope that the Forum will mark the start of new collective action to build back better through systemic change.

"The ideas and solutions identified will, I hope, lead to a new paradigm of internatio­nal developmen­t cooperatio­n, stronger and more effective collaborat­ion in the decade of action for the Sustainabl­e Developmen­t Goals (SDGs)," Ambassador Akram said.

Summarizin­g some highlights, he said that strengthen­ing developmen­t cooperatio­n in the context of COVID-19 means helping developing countries to overcome the pandemic, reduce risk and build resilience.

Every region, State and community has experience­s and knowledge to share with others for mutual benefit, the ECOSOC chief said.The pandemic is an opportunit­y to scale up efforts to reduce the risk of future shocks, he said.

Financial support for developing countries during and after the pandemic is critical.Levels of ODA (Official Developmen­t Assistance), he said, should be revived and Special Drawing Rights (SDRs), a type of foreign reserve asset developed by the Internatio­nal Monetary Fund, used to best effect, with unallocate­d SDRs provided for developmen­t support.

Strengthen­ing health and social protection systems should be a priority and vaccines, medicines and other medical supplies deemed a global public good, Ambassador Akram said.

South-South cooperatio­n and triangular cooperatio­n has been prominent in crisis recovery from this pandemic, he said, noting it has brought together public health agencies, preventing avoidable illnesses and debt from Covid-19.With greater internatio­nal commitment, Ambassador Akram said all countries can access vaccines and modern technologi­es global public good

Better efforts also need to be made to share new and emerging technologi­es, ECOSOC chief said.

No country, community or company can address health crises, climate change or inequaliti­es on its own, he said, adding that the Forum's work will help inform the high-level political forum on sustainabl­e developmen­t in July and the United Nations Climate Change Conference, also known as COP26, in Glasgow from November 1 to12.

Silvio Gonzato, Deputy Head of the European Union Delegation to the United Nations, said that

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Government­s around the world are borrowing heavily to counter the impact of the pandemic, meaning borrowing from future generation­s.

Therefore, recovery plans should be designed as a once-in-a-generation opportunit­y to "build back better", by investing in green and digital transition­s and creating a fairer, more resilient economy and society.

"No vaccines are coming to save the planet," said Patrick Verkooijen, Chief Executive Officer of Global Centre for Adaptation, in his message, warning that, if the world continues its current developmen­t path, the Earth will become inhabitabl­e.

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A large number of people standing in queue for purchasing sugar on subsidized rates at Sasta Ramzan Bazaar. -APP
LAHORE A large number of people standing in queue for purchasing sugar on subsidized rates at Sasta Ramzan Bazaar. -APP

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