Zambia Calls for Fair Financing as Global Leaders Open UN SDG Funding Forum in New York
The ECOSOC Forum on Financing for Development Follow-up 2026 has officially opened at United Nations Headquarters, bringing together global leaders to assess progress on closing the widening Sustainable Development Goals (SDG) financing gap.
The Forum, which runs from 20 to 24 April 2026, marks the first global review of implementation since the adoption of the Sevilla Commitment in 2025.
Discussions are focused on accelerating efforts to address an estimated US$4 trillion annual SDG financing shortfall amid rising debt pressures, declining development assistance and global economic uncertainty.
Delivering a statement on behalf of the Least Developed Countries (LDCs), Prudence Kaoma, Permanent Secretary in Zambia’s Ministry of Finance and National Planning and head of the Zambian delegation, warned that vulnerable economies are facing severe fiscal constraints.
She said slowing global growth, increasing debt servicing costs and reduced official development assistance are limiting the ability of countries like Zambia to invest in critical sectors such as health, education and infrastructure.
“These challenges are placing increasing pressure on our economies across debt, trade and investment channels, and underscore the urgent need for stronger concessional support and fairer financing conditions,” she said.
The Forum was officially opened by United Nations Secretary-General António Guterres, who cautioned that rising geopolitical tensions, conflict-related shocks, declining aid flows and increased military spending are deepening the global development crisis.
He noted that the SDG financing gap continues to expand, making urgent coordinated global action necessary.
Addressing the opening session, General Assembly President Annalena Baerbock highlighted the impact of recent global shocks, including the Middle East crisis, which she said has driven up oil prices, disrupted supply chains and worsened food insecurity and debt burdens in developing countries.
The Forum is seen as a critical platform for Zambia and other Least Developed Countries to advocate for reform of the global financial system, attract investment through initiatives such as the SDG Investment Fair, and push for more inclusive and predictable development financing.
It also seeks to advance implementation of the Sevilla Commitment and the Doha Programme of Action, while strengthening global cooperation to close the widening SDG financing gap and support sustainable development worldwide.
