Matekane calls for SDGs renewal, implementation

MOSA MAOENG

MASERU – Prime Minister Samuel Ntsokoane Matekane has emphasized the need for tailored, and equitable, capacity building oriented implementation of the international tax standards and concrete support towards tackling illicit financial flows.

This Matekane noted during the High-Level Meeting of the Least Developed Countries (LDC) at the Fourth International Conference on Financing (FfD4) Sevillle, Spain on July 1.

The FfD4 was held from June 30 to July 3 in Seville, Spain. The conference addressed new and emerging issues and the urgent need to fully implement the Sustainable Development Goals (SDGs), and support reform of the international financial architecture.

Matekane has also called for transparency and accountability for the use of public resources.

Additionally, he advocated for the establishment of an inclusive global tax governance system as well as additional technical and financial support to assist LDCs meet the 15 percent tax to Gross Domestic Product threshold.

He stressed on the need to align the fiscus systems with the SDGs for countries to attain real development adding that Lesotho recognizes and appreciates the comprehensive approach presented by the ‘Sevilla Commitment’ to mobilizing private finance in support of sustainable development.

He said, “In line with Lesotho’s aspiration of a private sector driven and employment generating economic growth, we appreciate that the document highlights the pivotal role of private sector activity, investment, and innovation as enablers of economic transformation and job creation, in direct response to the challenges facing our youth.”

The prime minister said, to strengthen promotion of private business and investment for sustainable development, there is need for short-term and practical incentives, to stimulate immediate private sector participation.

He said these include, access to performance-based matching grants and concessional finance for enterprises entering strategic sectors such as agriculture, agro-processing, renewable energy and manufacturing.

Matekane noted that the current multiple global crises, compel LDCs to renew and strengthen their partnership with developed countries adding that they further call for increased cooperation among the countries of the South as well as with the private sector.

He said the FfD4, provides an opportune moment to adopt and embrace, commitments made in the outcome document of this summit – ‘Sevilla Commitment’ with the sole purpose of translating the Doha Programme of Action (DPoA) into reality.

According to the UN environment programme, the International Conferences on Financing for Development are the only space where leaders from all governments, along with international and regional organizations, financial and trade institutions, businesses, civil society and the UN system unite at the highest levels, fostering stronger international cooperation.

The event aligns closely with the overearching objectives of FfD4, to advance a reformed financing framework that accelerates climate action during this critical decade, in line with the Paris agreement and the SDGs. It reflects the priorities set out in the First Draft of the FfD4 Outcome Document, particularly the call to scale up and enhance the effectiveness of climate finance, and to increase support for the most climate vulnerable countries by prioritising mitigation, adaptation and resilience building.