Remarks by UN Resident Coordinator Hao Zhang at the Peer Learning Workshop of the Borrowers' Platform

Hon. Minister of State for Finance and Public Enterprises, 

Representatives from the Ministries of Finance of Pakistan, Egypt, Maldives, Armenia, Tajikistan, Zambia, Ethiopia, Kenya, and the Dominican Republic, 

Colleagues from the UN system,

Good morning to you all.

Thank you for making the journey to be here with us today in the Maldives to have a conversation on debt sustainability, an issue that is very critical for sustainable development financing. Your presence in this workshop speaks to a shared recognition of the importance of the Borrowers’ Platform. 

I would like to take the opportunity to acknowledge the hospitality of the Government of the Maldives, which is hosting this important first-ever peer-learning workshop of the Platform. I also wish to recognise colleagues at the UN Trade and Development (UNCTAD) for having facilitated this exchange of experiences. 

The Borrowers’ Platform is a critical initiative established by the Member States to discuss technical issues and share experiences in addressing debt challenges, with the aim of improving debt sustainability and development finance outcomes. This was decided in the Sevilla Commitment, the outcome of the Fourth International Conference on Financing for Development. 

As highlighted by the United Nations Secretary-General, António Guterres, at the launch of the Borrowers’ Platform, this initiative is historic and extremely important in contributing to a fair international development financing architecture. 

At a time when many developing countries continue to face debt challenges, there is a growing recognition that these pressures are not only country-specific but also reflect deeper structural gaps in the global financial and debt architecture. The absence of a dedicated space for borrowing countries to exchange perspectives and experiences has been a major hinderance to the most affected countries in collectively advocating for their interests. Peer learning on debt management issues among borrowing developing countries will promote cooperation and serve as a collective voice that will improve debt management practices.

I am truly encouraged to see member States carry this initiative forward with such commitment. I am especially glad to see that spirit reflected in the dedication of those gathered in this room. I believe that the journey that has started with this workshop stands as concrete proof of what collaboration can achieve.

Finally, on behalf of the United Nations system, I would like to reassure members of this Platform of our commitment to facilitating policy reforms and dialogue on sustainable development issues. Please count on our readiness to generate evidence, provide policy advice and foster engagement with various stakeholders. In the Maldives, this commitment is outlined in our jointly developed new UN Sustainable Development Cooperation Framework (UNSDCF) 2027-2031.

I wish you all an inspiring and productive week ahead. 

Thank you.