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00:00The situation of sustainable development is now very dangerous, because only 15% of the
00:10goals of sustainable development are in its way to be fully realized from now until 2030.
00:1850% of these goals are deviated from the path, and what is not less than, or the rest,
00:2620% worse than what we were in 2015.
00:30So any effort in cooperation here between the Economic Cooperation and Development Organization
00:36and the Arab regional organizations, and we are honored to have this invitation in Kuwait,
00:42also cooperation with the parties of the private sector to push the development movement,
00:48is one of the things required now to save what can be saved in order to achieve the
00:54goals of sustainable development.
00:56We are not only talking about numbers, but we are talking about issues related to poverty,
01:02dealing with hunger challenges, meeting the types of education and health care,
01:08providing job opportunities, and reducing gaps between different countries,
01:14as well as within them by improving income distribution, in addition to the big issue
01:20of climate change.
01:21This is why the movement of technology, research, development, and data support,
01:25as well as the incentives that enable us to achieve these goals.
01:29But doctor, in the shadow of inflation and rising interest rates, do these slogans remain?
01:35Because we really see developed countries full of debts, and we have many examples.
01:39I was also at the climate conference where you were, and they talked, even in Sharm El Sheikh,
01:47and they talked about the carbon subsidy, and they tried to compensate developed countries
01:52for these effects, and maybe nothing was achieved.
01:55So, are these slogans and slogans true?
01:59Let me tell you something.
02:00Of course, the countries that have financial advantages that allow them to support themselves
02:06and support other countries, must move not only from the good to the bad, as they say,
02:14but even if they have a narrow perspective, it is because they are saving themselves from problems
02:24related to sustainable development.
02:27Because these promises have not been fulfilled, and if money is spent in areas that have nothing
02:36to do with development, and the financial benefits available worldwide are much greater.
02:42It is true that we need between 4 and 5 trillion dollars annually, but the financial benefits
02:48available worldwide, and the assets under the administration, are greater than this,
02:53at least 30% of these numbers.
02:56So, it is a matter of political will.
02:59And I say that developed countries must fulfill their commitments to protect their interests,
03:07even if this is a narrow perspective.
03:11Because, first of all, if development and growth happen in the right direction, there are better
03:17opportunities for production, trade, and investment.
03:20It reduces the problems related to subsidies.
03:23It also addresses the problems related to forced immigration and refugee cases that have increased
03:33in recent years.
03:34So, it is not possible for rich countries to complain about the decline in growth, trade,
03:42and forced immigration, and not do what is required, and what they have committed to do,
03:49which is to allow funding according to what they have committed to do, even before the
03:54goals of sustainable development in 2015, to commit to at least 0.7% of their local resources
04:02directed to low-income countries.
04:04In all of these commitments, what little has happened.
04:09And what has happened, considering last year and this year as well, is that half of the
04:14flows directed to developed countries have turned from cumulative numbers to negative
04:20numbers.
04:21And this is not surprising.
04:22Whether the international financial institutions take advantage of this, because now they are
04:30funding development, but now the countries that have been loaned from them before the
04:35pandemic and after it are now paying off their loans.
04:38The same goes for the loans and financing with the private sector.