24 July 2018 New York – The “South-South in Action Special Edition on Pérez-Guererro Trust Fund (PGTF)” Report was launched today at the Group of 77 Ambassadorial Meeting at United Nations headquarters. The report was jointly published with the Group of 77 (G-77) and the United Nations Office for South-South Cooperation (UNOSSC). Numerous G-77 Ambassadors were in attendance, celebrating the Funds’ 35 years of accomplishments, including over 300 projects funded across the Global South.
PGTF has provided $14.2 million towards catalytic South-South cooperation projects carried out by three or more developing countries that strengthen regional and interregional cooperation and provide mutual benefits across borders. PGTF utilizes the interest produced by its capital endowment along with member State contributions – 48 supporting to date – to fund projects that span all 17 SDGS.
“PGTF helps developing-country members of the Group of 77 assume a critical collaborative leadership role in realizing the ambitious goals of the 2030 Agenda for the benefit of not only their citizens but all citizens of the world”, said Mr. António Gutierrez, Secretary-General of the United Nations said about this Fund.
This PGTF report is a breakthrough publication in that is journalistic, engaging, and easy-to-read, with project photos, testimonials, and infographics to appeal to and excite the reader about this fund. It presents an overview of the portfolio, highlights trends, such as increases in G-77 contributions over time, and provides sixteen different case studies from projects that have benefited from PGTF support.
“Against the backdrop of the immense development challenges that we face, including poverty and hunger, which are exacerbated by the effects of climate change, PGTF partnerships create crosscutting solutions that benefit the vulnerable populations across the developing world.” stated Mr. Achim Steiner, Administrator of the United Nations Development Programme.
To date, PGTF has benefited over 143 countries, with 131 countries directly participating in projects, and has funded mostly inter-regional projects, which often receive less attention globally. The fund was named in honor of H.E. Manuel Pérez-Guererro, a Venezuelan diplomat and dedicated champion for international cooperation who led the creation of this fund. UNOSSC serves as the Fund Manager of PGTF.
“It is through collaboration that the G-77 can make strides towards the realization of the SDGs. Though there is no “one-size- fits-all” approach to development, South-South cooperation enables developing countries to come together to address and explore their capacities, experiences and innovative solutions that can be adapted to their own unique circumstances”, said H.E. Ambassador Mohamed Fathi Ahmed Edrees, Chair of the Group of 77.
This report is the twelfth edition of UNOSSC’s South-South in Action series, which tap the vast reservoir of experiences among Southern countries. The PGTF report is the first in this series to present projects funded by a UN trust fund, and showcases outcomes that can be produced by a the multi-stakeholder approach. G-77 countries are encouraged to collaborate with UNOSSC on future South-South in Action reports.
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