The President of Costa Rica, Carlos Alvarado, today requested a distribution of liquidity from abundant sources to people with deficiencies, taking into account the particular needs and vulnerabilities of the countries.
“No country should be excluded from fair financing for development”, said Alvarado, speaking virtually at the Financing for Development Forum, convened by the United Nations Economic and Social Council (Ecosoc).
“Costa Rica considers that financing for development and the strengthening of international cooperation should be the engines to advance in the agendas of integral development and recovery from the challenging situation associated with the COVID-19 Pandemic”, said the President.
A means to find creative solutions
Also, he continued, “we believe that these spaces of multilateralism are a means to find creative solutions and generate different synergies that promote good practices in pursuit of sustainable socio-economic recovery and care for the most vulnerable populations”.
For this reason, he urged to take advantage of the opportunity offered by the current context to implement innovative and creative mechanisms that support the sustainable development goals, in which people and nature are at the center of progress.
Alvarado took the opportunity to expose the Costa Rican initiative COVID-19 Economic Relief Fund or FACE (acronym in English), whose objective is to create extraordinary monetary support with approximately 0.7 percent of World Domestic Product to help developing nations.
Equitable and affordable access The Foreign Ministry indicates that the Forum meets from April 12 to 15 in the search for a coordinated health and economic response that guarantees equitable and affordable access, as well as financial solutions from multilateralism that reduce the financing gap for the countries