Allow me to begin by commending your dynamic stewardship of the Fifth Committee during this unprecedented situation caused by Covid-19 pandemic. We thank Under Secretary General Ms. Catherine Pollard for briefing the Committee on the latest financial situation of the United Nations.
Bangladesh aligns itself with the statement delivered by Republic of Guinea on behalf of G77 and China.
Allow me, Mr. Chair, to highlight some additional points in our national capacity.
Finance serves as the core element for functioning of any organization, be it domestic or international. Sound financial health is not only the foundation of the UN to deliver its mandate but it also guarantees implementation of the organization’s reform initiatives. All these depend on the Member States’ meeting their financial obligations to the organization in full and on time. If the Member States don’t fulfill their financial responsibilities to the UN in a timely manner, and steady cash flow is not ensured, the organization will not be able to implement its programme of work. We commend the Member States who have paid their full assessed contributions on time and urge others in arrear to respect their charter obligations.
It is very important that the major contributing Member States who have ample capacity to pay, ensure full and timely payment of their assessed contribution. The UN would be on a firmer financial footing if the major contributors lived up to their charter obligations. On our part, we are paying our assessed contributions to the organization in full and on time, in line with our charter obligations.
In light of the challenges posed by COVID-19 pandemic, it is clear that a stronger, more effective and efficient United Nations is required more than ever. When we consider the budget of the organization, we need to take into account the impact of the pandemic on its operations, and ensure sufficient allocation and smooth financial flow in order to allow it to cope with the challenges posed by the pandemic.
We thank Under Secretary General Mr. Atul Khare for briefing the Committee on the status of reimbursements to TPCCs. As a staunch supporter of multilateralism, Bangladesh is determined to play a responsible and constructive role in the maintenance of international peace and security. It is from this commitment that Bangladesh is a leading contributor to UN peacekeeping operations. Bangladesh attaches utmost importance to expeditious and timely reimbursement to TPCCs for their personnel and equipment support. TPCCs in UN peacekeeping missions are principally the developing countries. Delays in reimbursement of their dues might impact troops rotations and their willingness to continue their services to the peacekeeping missions. It may also exacerbate the financial burden on the TPCCs, which would be unfair.
We take note with deep concern that the liquidity situation of the organization has been worsening in recent years with cash deficits running deeper, liquidity reserves being exhausted and year-end arrears setting new records. Much of the assessed contributions are received at the end of the year, which hinders timely allocation of resources to mandated activities of the organization. Despite stringent cash conservation measures as well as postponement of several cash payments, the organization had to borrow significant amount of cash from closed peacekeeping missions in last two years. We thank the concerned division for careful liquidity management and ensure uninterrupted operations of the organization during this period.
It is also imperative to ensure that all funds entrusted to the UN are spent well, transparently and with full accountability. To this end, measures like tightened budgetary control, strict financial discipline, efficient and rational use of financial resources are critically important. We hope that the Secretariat will utilize the resources entrusted to it in a cost-effective and efficient manner, and keep the Member States posted with relevant information with utmost transparency.
At a time when conflicts are multiplying across the globe and new challenges are emerging, there is no better platform than the United Nations to achieve our common goals of peace, security and prosperity. It is, therefore, our duty to ensure that the organization is best equipped with adequate resources, and it manages its financial resources soundly, in order to fully deliver its mandate.
I thank you Mr. Chair.