UN General Assembly
2024

We remain on the front lines of a climate emergency that not only threatens sustainable development, but also forces us into **unsustainable levels of debt** to finance recovery from natural disasters due to the lack of affordable alternatives. We must **reform the international financial architecture** to meet today’s urgent challenges. Our diverse needs must be reflected in a more inclusive, equitable, and responsive global financial system. This includes tailored solutions and access to **affordable, long-term financing**, and addressing the decline in correspondent banking. Equally, we must **increase the representation and meaningful participation** of Small Island Developing States (SIDS) in global economic and financial institutions. Amid persistent economic contractions and rising debt, **grants and concessional finance** are essential for recovery, resilience, and avoiding further debt distress. We look forward to the adoption of the **Multidimensional Vulnerability Index (MVI)** as a tool to improve current decision-making frameworks on access to finance.