Statement delivered by H.E. Rindra Hasimbelo RABARINIRINARISON, Hon Minister of Finance of Madagascar

V20 MINISTERIAL DIALOGUE VIII- 21 April, 2022

 Statements

10:00 pm Dhaka time/12:00 pm Washington DC time

Statement delivered by H.E. Rindra Hasimbelo RABARINIRINARISON, Hon Minister of Finance of Madagascar

H.E. Mme. Rindra Hasimbelo Rabarinirinarison 

Hon Minister of Finance of Madagascar

Mr. Chair, honorable minister of the People of Republic of Bangladesh, His Excellency Mustafa Kamal,

Excellencies,

Distinguished colleagues,

Ministers,

Ladies and Gentlemen,

It’s a pleasure for us to attend this Ministers of Finance dialogue in the framework of the Vulnerable 20 Group. Actually, this is an opportunity for Madagascar to join here our voice, to all countries which we want to mobilize investments and protect the growth of their economies facing the systematic challenges of the climate crisis. And to all countries which want to remind the international financial system that our voice matters, and that we should be at the forefront of progress and action to address those challenges. As we mentioned during the last COP26, Madagascar is the first most vulnerable country to climate change. Our island is indeed frequently hit by tropical cyclones, by intense droughts in the South, and also by floods. Those climate related hazards have impacted and will impact on our economic growth and our financial stability. Besides that, the last Covid-19 pandemic has worsened the situation. Madagascar must seriously address the climate dimension of its financial and economic programming. The government of Madagascar has set its vision of environmental emergence and sustainable developments in the national strategic plan called “Madagascar Emergency Plan” which forecasts a sustainable management of natural resources and renewable energy. This plan has a version for the South Madagascar and that plan for the South has just been launched to compensate the droughts due to the climatic disturbances in this part of our island. Madagascar state has started initiating it with its own budget but we still look for financements to follow up on this this plan. Our State needs financing to alleviate the impact of climate change on our population. The initiatives we carry out for the V20 group are crucial. Indeed they foster the parties engagements to abide with their commitments, to provide more financial resources and greater support to vulnerable countries. This allows us to mobilize investments and to protect the growth of our economies. We make here an official call for main partners to apply their commitments to double international funding for adaptation by 2025 during COP26.

Vulnerable countries should, therefore, keep on implementing efforts towards a sustainable and more resilient economic development. The dynamics have to be maintained and common position has to be developed with the Vulnerable 20 group. Ladies and gentlemen, I couldn’t express more the importance of bringing in the Summits, such as the Spring meeting, our concerns regarding climate related investments and the importance for us, vulnerable countries, to gather our voices. I thank you for your attention.

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