UN development debate opens with $4 trillion funding gap in focus

The UN General Assembly’s Second Committee opened its general debate on 5 October, with an estimated $4 trillion annual financing gap for the Sustainable Development Goals (SDGs) at the centre of calls for more development funding. Delegates also differed over how far the UN should go in addressing financial issues. [1]

Cornell University professor Parfait Eloundou-Enyegue, delivering the keynote address, put the gap at about $4 trillion a year. He cited shifting donor priorities, limited fiscal space and debt, and said 36 per cent of the SDGs were on target. [1]

UN Under-Secretary-General Li Junhua said the UN Department of Economic and Social Affairs projected global growth of 2.6 per cent in 2026 and 2.9 per cent in 2027, both below the pre-pandemic average. [1]

Speaking for the Group of Least Developed Countries, the Gambia’s delegate said 42 per cent of their populations lived in extreme poverty and 33.7 per cent used the internet in 2025. The delegate urged development partners to meet aid commitments of 0.15 to 0.20 per cent of gross national income and expand concessional finance. The EU’s delegate called for stronger action on climate change, biodiversity loss and pollution. [1]