UN General Assembly
2017

For the United Nations to be able to implement an ambitious agenda, it must have sufficient resources. However, the budgetary situation of the United Nations remains difficult, notably, but not solely, because of the new approach by the American Administration. That may prevent agencies from fulfilling their core mission. Clearly, we need to go back to the drawing board. My country supports the idea of a budgetary compact for development. Luxembourg contributes 1 per cent of its gross national income to official development assistance. Our annual voluntary contributions to the various agencies is in excess of $35 million for 2017. The funding requirements for achieving the goals of the 2030 Agenda for Sustainable Development are enormous. Progress has been made in terms of funding to combat climate change. To take the case of Luxembourg, my country has set up a green stock exchange with a current capitalization of more than €57 billion. We plan to use that model to set up future instruments for sustainable development financing on the basis of a broader range of development goals.