President Dr Mohamed Muizzu stated today that access to affordable finance is a question of justice for Small Island Developing States (SIDS) to achieve the Sustainable Development Goals (SDGs), in his opening remarks as Co-Chair at the Interactive Dialogue "Revitalizing SIDS’ Economies for Accelerated and Sustainable Growth" of the Fourth International Conference on Small Island Developing States (SIDS4) in Antigua and Barbuda.
The President highlighted the obstacles SIDS face, including external shocks, climate change impacts, inadequate financing, and unsustainable debt. He commended the resilience of SIDS despite these challenges, showcasing their ability to thrive amidst adversity. He remarked that the COVID-19 pandemic served as a stark reminder of the vulnerability of SIDS economies to external shocks.
President Dr Muizzu noted the need for accelerated and sustainable growth for SIDS to transition to middle-income status and develop further. Stressing the importance of building productive and state capacity, he underscored the critical need to build human capital and mobilise resources. The President underlined the need for capacity building, partnerships, advocacy, and strategic planning, highlighting the experience of the Maldives efforts towards disaster preparedness and its success in sustainable tourism.
The President further noted financing as a central challenge for SIDS, reiterating the need for affordable and accessible financing for development and stating that ‘access to affordable finance is a question of justice’ for SIDS.
President Dr Muizzu is the co-chair of the Dialogue, along with H.E. Anders Adlercreutz, the Minister for European Affairs and Ownership Steering of the Republic of Finland. This is the first of five interactive dialogues in the SIDS4, from May 27 to 30, 2024, in Antigua and Barbuda.
