A Message from ECOSOC President Bob Rae: Strengthening UN-IFI Partnerships to Advance Global Goals

H.E. Mr. Bob Rae, President of the Economic and Social Council (ECOSOC), delivered a video message on the importance of strengthened collaboration between the United Nations and International Financial Institutions (IFIs), including the International Monetary Fund and the World Bank, to support global development objectives.

Ambassador Rae emphasized that fostering closer partnerships with IFIs is essential for advancing sustainable development, enhancing global well-being, and achieving greater equality. He underscored that these objectives cannot be met without improved coordination, particularly in financing initiatives to address climate change and sustainable development needs for developing countries.

The President highlighted three main areas discussed in his meetings with IFI leaders: the urgent need to address global debt challenges, ensuring fair and effective debt management strategies for developing nations, and mobilizing development capital to support critical climate and economic transformations. Ambassador Rae noted that it is only through consistent and close collaboration that these goals can be achieved.