UN / COVID-19 FINANCING FOR DEVELOPMENT

28-May-2020 00:03:15
UN chief António Guterres said despite all the technological and scientific advances made recent decades, “we are in an unprecedented human crisis because of a microscopic virus” demonstrating our fragility and called on world leaders “to respond with unity and solidarity.” UNIFEED
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STORY: UN / COVID-19 FINANCING FOR DEVELOPMENT
TRT: 3:15
SOURCE: UNIFEED
RESTRICTIONS: NONE
LANGUAGE: ENGLISH / NATS

DATELINE: 28 MAY 2020, NEW YORK CITY
SHOTLIST
28 MAY 2020, NEW YORK CITY

1. Wide shot, conference room
2. SOUNDBITE (English) António Guterres, Secretary-General, United Nations:
“Unless we act now, the COVID-19 pandemic will cause unimaginable devastation and suffering around the world: Hunger and famine of historic proportions. Sixty million more people pushed into extreme poverty. Up to half the global workforce – 1.6 billion people – without livelihoods.
A loss of 8.5 trillion USD in global output – the sharpest contraction since the Great Depression of the 1930s. We must avoid it. The pandemic has demonstrated our fragility. Despite all the technological and scientific advances of recent decades, we are in an unprecedented human crisis, because of a microscopic virus. We need to respond with unity and solidarity.”
3. Wide shot, conference room
4. SOUNDBITE (English) António Guterres, Secretary-General, United Nations:
“COVID-19 has exposed and is exacerbating deep inequalities and injustices that we must tackle- including gender inequality. The economic impacts are worse for women, who typically have fewer savings and lower incomes than men. All our efforts must go towards building sustainable and resilient pathways that enable us not only to beat COVID-19, but to tackle the climate crisis, reduce inequality and eradicate poverty and hunger.”
5. Wide shot, conference room
6. SOUNDBITE (English) António Guterres, Secretary-General, United Nations:
“These are challenging and dangerous times. We must face them with all urgency, seriousness and responsibility. Getting through COVID-19 and recovering better will cost money. But the alternative will cost far more. This is a global crisis, and it’s up to all of us to solve it. Let’s do it together, and I thank you.”
7. Wide shot, conference room
8. SOUNDBITE (English) Justin Trudeau, Prime Minister, Canada:
“This is our chance to begin a conversation on how we can emerge from this truly global crisis as a stronger and more cohesive world. One that creates wealth for everyone, addresses inequality, and cares for the most vulnerable. Over the coming most we will all be working together in different workstreams to bring forward ambitious but pragmatic solutions. Canada is ready to do our part as we help bring the world together in the fight against COVID-19. COVID-19 is an unprecedented challenge for our modern world, but it is also a unique opportunity to build a better future, to create a safe and prosperous world and an international system that recognizes who is left behind and strives to lift them up.”
9. Wide shot, conference room
10. SOUNDBITE (English) Andrew Holness, Prime Minister, Jamaica:
“This pandemic is a wake-up call for international community to reinvigorate a comprehensive system of global economic governance, one that can cope with the global disruptions while promoting inclusive development. Without such a strategic and decisive response amidst declining economic growth and increasing uncertainty, the social and economic fallout could persist.”
11. Wide shot, conference room
STORYLINE
UN chief António Guterres said despite all the technological and scientific advances made recent decades, “we are in an unprecedented human crisis because of a microscopic virus” demonstrating our fragility and called on world leaders “to respond with unity and solidarity.”

At a high-level virtual meeting on financing for development against the backdrop of the pandemic, Guterres told world leaders today that unless action is taken now, COVID-19 “will cause unimaginable devastation and suffering around the world: Hunger and famine of historic proportions. Sixty million more people pushed into extreme poverty. Up to half the global workforce – 1.6 billion people – without livelihoods. A loss of 8.5 trillion USD in global output – the sharpest contraction since the Great Depression of the 1930s. We must avoid it.”

Guterres called for action in six urgent areas to mobilize the financing needed for the response and recovery. These include expanding liquidity across the global economy; addressing debt vulnerabilities; stemming illicit financial flows; increasing external finance for inclusive growth and job creation; and strategies for countries to recover better, achieve the SDGs, address climate change and restore the balance between the economy and nature.

The Secretary-General stressed that COVID-19 has “exposed and is exacerbating deep inequalities and injustices that we must tackle – including gender inequality.” He added, “The economic impacts are worse for women, who typically have fewer savings and lower incomes than men. All our efforts must go towards building sustainable and resilient pathways that enable us not only to beat COVID-19, but to tackle the climate crisis, reduce inequality and eradicate poverty and hunger.”

Guterres noted that these are “challenging and dangerous times” and called on leaders to face them “with all urgency, seriousness and responsibility.” He underscored that getting through COVID-19 and recovering better “will cost money, but the alternative will cost far more.”

Canadian Prime Minister Justin Trudeau said leaders need to think outside the box to address the global pandemic. He said COVID-19 was a health crisis that prompted an economic and social crisis, making it a global challenge with many dimensions transcending borders and threatening lives and livelihoods everywhere.

Trudeau said the pandemic was a stark reminder of how interconnected the world has become. He stressed that, to keep citizens safe and healthy, COVID-19 must be defeated wherever it is found; and for the global economy to recover and domestic economies to bounce back, the world needs a global coordinated plan.

The Canadian Prime Minister said, “This is our chance to begin a conversation on how we can emerge from this truly global crisis as a stronger and more cohesive world. One that creates wealth for everyone, addresses inequality, and cares for the most vulnerable. Over the coming most we will all be working together in different workstreams to bring forward ambitious but pragmatic solutions.”

Trudeau said COVID-19 is an “unprecedented challenge for our modern world, but it is also a unique opportunity to build a better future, to create a safe and prosperous world and an international system that recognizes who is left behind and strives to lift them up.”

Jamaican Prime Minister Andrew Holness said the COVID-19 pandemic serves as a “wake-up call for international community to reinvigorate a comprehensive system of global economic governance, one that can cope with the global disruptions while promoting inclusive development.” He said without such a “strategic and decisive response amidst declining economic growth and increasing uncertainty, the social and economic fallout could persist.”

Holness underlined the importance of access to emergency liquidity for developing countries, but noted that the bigger challenge is to channel public and private credit flows into productive inclusive developmental capital formation. He said leaders must create a revamped system of global financial and monetary governance that focuses on the most vulnerable in societies. He also noted that developing countries are highly dependent on support from international partners to stem illicit financial flows.

The Jamaican Prime Minister said this pandemic has demonstrated that every country and every citizen is vulnerable, adding that to build economic and social resilience, we must rethink the traditional indices of vulnerability.

Holness said leaders shoulder a tremendous responsibly for effective action in the face of this global challenge and emphasized that this crisis represents a unique opportunity to remedy socio-economic disparities for generations to come.
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