The President of Georgia took part in a high-level meeting within the framework of the 75th session of the UN, on Financing the 2030 Agenda for Sustainable Development in the Era of COVID-19 and Beyond.

In her speech, Salome Zurabishvili noted that the COVID-19 pandemic caused devastating social and economic crises around the world.

“Thank you for convening today’s meeting and continuing conversation on financing global development. No doubt, the Covid-19 pandemic caused devastating social and economic crises around the world. And it’s not over. We still see the consequences of the coronavirus: up to a million lives lost, over 400 million jobs lost, substantial drops in revenues and incomes, a negative growth for all economies, tripling of the global debts. In the 75 years, that we are commemorating this year, the UN and the global community have not faced such a disaster. Hence, your initiative is not only timely, but vital. We clearly see that no single country can tackle this challenge alone. It is essential that we jointly come up with solutions and find ways to effectively use the available financial and human resources. I would like to thank members of the six Discussion Groups for their hard work and proposals”, –  Salome Zurabishvili stated.

As Georgian President noted, for a small country like Georgia, FDI, remittances and development assistance are important sources for financial stability.

“I take personal interest in actively engaging diasporas in the development processes in the country. Together with IOM next week we are holding a large online forum with the aim to mobilize the diaspora investments. This is the time to seize the moment and look at the current situation as an opportunity. This is the time to truly strive for more resilient, inclusive and greener economies and societies. This is the time to do things right as we are forced to change. Recovery and reconstruction require financial resources and I believe that financial systems will adapt to these goals. States, Central Banks, international financial institutions are better prepared to incorporate SDGs and the Paris Agreement requirements in their portfolios. However, the private and corporate systems still need to buy-in”, – the President stated.

Salome Zurabishvili said that better understanding the economic and social impacts, designing responses that generate jobs, open access to finance and economic opportunities and support education and skills development can only be achieved through public-private partnerships.

“Sustainable investment opportunities should concentrate on climate-smart projects, that equally engage men and women and could be considered by clusters to increase project viability. Only through joint work and efforts we can rebuild and revive”, – President added.