G20 Development Ministers’ Meeting Fighting Inequalities and Trilateral Cooperation

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Your Excellencies, colleagues,

The world has made great strides against hunger and poverty.

Over the last thirty years, an average of 45 million people have been lifted out of extreme poverty annually. That's more than one person every single second, their health, their education, their opportunities given a better foothold on life.

It represents one of the most significant transformations in human history. And this remarkable achievement is due to the dedicated efforts of member states, as well as to the collaboration of countries from the North and South, and the international community. Our gathering here today is a testament to our unwavering commitment to this vital cooperation.

We most hold onto this ambition – and intensify our efforts. There are currently too many who are not feeling the benefit of this progress.

We gather today for the 574 million people who are projected to remain in extreme poverty by 2030, many of whom are yet to be born.

Colleagues,

Inequality is a cage. A construct that can trap people for generations.

But there is at least one key: it is rural development. And it can be achieved through enhance knowledge sharing, stronger cooperation and specially through smarter investments.

The most entrenched problems require global collective action. That knowledge becomes even more strategic when it crosses cultures and contexts. This is why we welcome the “G20 Trilateral Cooperation Knowledge Sharing Mechanism” – and you can count on IFAD’s support.

We view South-South and Triangular Cooperation as a mean to collectively harness global knowledge, expertise, and innovation. The lessons gained from our SSTC and Knowledge centres are key to inform our investments; leveraging diverse experiences and solutions, fostering greater resilience and sustainable development across our member states. We are also fully aligned with the G20 Presidency’s vision to share lessons and knowledge through the G20 Global Alliance for Hunger and Poverty.

Colleagues,

To potentiate the power of knowledge and cooperation we also need support it with innovative financing and partnerships.

The role of Development Finance Institutions (DFIs) and Public Development Banks is crucial in combating hunger, poverty, and inequality. IFAD is a proud and ambitious partner of both traditional and non-traditional actors, such as BNDES here in Brazil.  

We must all forge innovative partnerships to unlock the potential of diverse stakeholders.

For instance, IFAD is pioneering risk-sharing mechanisms and guarantee schemes to attract private capital and technology into rural development. Through these efforts, we aim to expand our efforts to address the root causes of inequality and foster sustainable and inclusive growth.

Colleagues,

Collectively, we hold the key to ending inequality. And I am looking forward to working with you on this agenda in the years ahead.

Thank you.