Distinguished government representatives, esteemed partners from the private sector and Development Finance Institutions, fellow UNDP colleagues, ladies and gentlemen, 

It is a true privilege to stand before you today, at this important side event during the Fourth International Conference on Financing for Development, on behalf of my colleagues Ahunna Eziakonwa, Regional Director of the Africa Bureau, and Abdallah Al Dardari, Regional Director of RBAS – the champions and executors of timbuktoo as a Pan-African Initiative.  My sincere thanks to all of you for your engaging contributions and your unwavering commitment to building a more inclusive and prosperous future for Africa. 

We are here in Seville at a pivotal moment. The global polycrisis has shattered old development paradigms, placing a burden on the multilateral system to reimagine how we finance the future. We must now develop a new paradigm that can unify public and private efforts to effectively bridge the development financing gap. 

Over the past hour and a half, we have delved into the transformative potential of the timbuktoo Initiative, UNDP’s bold response to the limitations of traditional development financing. This initiative is a ten-year moonshot vision to create an unprecedented support platform for Africa’s innovation ecosystem. Its core objective is to counter the migration of high-potential African startups to global tech hubs, retaining talent and intellectual property on the continent. By nurturing 10,000 startups and scaling 1,000 impactful market leaders, we are ensuring that Africa-born enterprises can scale globally while remaining anchored in their home markets. We are building a future where Africa is a premier destination for high-growth ventures, empowered by world-class investment frameworks, policy incentives, and cutting-edge technological infrastructure. 

At the heart of timbuktoo lies a pioneering public-private approach, embodying the very essence of innovative finance that FFD4 seeks to champion. Our approach is holistic and addresses critical gaps that impede Africa’s entrepreneurial growth. We are embracing: 

• Blended finance at scale: We are targeting the ambitious mobilization of $1 billion through catalytic public, philanthropic, and private investment. This isn't just about small grants; it's about channeling significant capital into a robust, integrated network of startup hubs that provide end-to-end support for emerging businesses.
• Set-up of an independent, agile financial vehicle: The timbuktoo Africa Innovation Foundation will allow us to engage with greater flexibility and mixed capital with the private sector, moving with the speed and agility required in today’s dynamic markets.
• We are utilizing venture capital-style vehicles focused on equity financing, co-designed with reputable partners. This provides the kind of patient, growth-oriented capital that African startups desperately need, offering a bold solution to fragmented ecosystems and limited financing.
• Our blending approaches go beyond traditional de-risking. We go further, addressing liquidity, enhancing returns, and de-risking policy and contracts to unlock private sector participation and strengthen investor confidence.
• We structured the set-up to address multi-layered funding, enabling us to provide tailored grant and investment facilities—such as Seed Capital Grants, Working Capital Grants, and Loans—across the entire startup lifecycle, ensuring support from ideation to scale. This also includes providing technical assistance to key national finance institutions like Development Finance Institutions and National Development Banks.
• We are exploring innovative ways to tap into local financial systems through public equity, public debt, and crowd investment tools, fostering local capital formation and positioning Africa as a premier destination for high-growth startups.
• Last but not least, we integrated Impact Measurement and Management in decision-making and assessment of the true success of the initiative. Crucially, we are ensuring that financial returns are intrinsically linked to tangible development outcomes, leveraging frameworks like the SDG Impact Standards. 

This holistic approach is precisely why timbuktoo is so relevant to FFD4. It demonstrates the viability of blended finance for inclusive innovation and showcases how we can successfully convene and integrate diverse champions for greater resource mobilization and impactful partnerships. 

Our preceding panels have offered invaluable insights into this collaborative journey. Our first panel underscored the vital role of governments in shaping policy and regulatory frameworks that enable innovative finance, and the transformative power of digitization in accelerating these efforts. They are essential partners in creating agile, responsive environments where digital-first ventures can thrive. 

And our second panel highlighted how private sector leaders are pioneering models like blended finance, equity-based solutions, and indeed, the impactful '2% corporate model,' to bridge the SDG financing gap. It is through these pragmatic investment approaches that we can unlock the full potential of market forces for development. 

This collaborative spirit is not about inventing a new multilateralism, but rather about reinforcing and reinvigorating the multilateral system we have. It’s about making our collective efforts more agile, more inclusive, and more effective. It's about empowering all actors – states, markets, and citizens – to move beyond traditional aid paradigms and truly co-shape and co-drive development. It is a powerful testament to what we can achieve when we pool our resources, share risks, and align our visions. 

My key message today is simple yet profound: “This is not the time to pull back; it is the time to press in—towards action, innovation, and solidarity.” timbuktoo exemplifies how development institutions must evolve. Our role is no longer just about grants; it's about building pipelines, mobilizing capital, and advocating for policy reforms that enable entrepreneurs to thrive. UNDP is deeply committed to scaling inclusive economic transformation through strong partnerships, deliberate private capital mobilization, and systemic innovation. This collective endeavor is paramount as UNDP focuses intensely on bringing the vision of FFD4 to life, accelerating its implementation in line with the ambitious Seville Platform for Action (SPA) under Spain's visionary leadership. The SPA's focus on country-driven approaches to financing is exactly what we are championing through timbuktoo. Nowhere is this acceleration more critical than it is for Africa, a continent poised for unprecedented growth, yet still facing significant financing challenges. 

Let us together champion a model of development through investment. I issue a clear call to action to our government partners to create enabling environments and contribute catalytic capital; to philanthropic organizations to provide foundational support; and to our private sector partners and DFIs to bring your capital, expertise, and networks. Your engagement is critical to unlock the full potential of Africa’s vibrant innovation ecosystem. Thank you once again for your presence, your insights, and your partnership. Let us continue this vital work, pressing in towards a future where innovation and inclusive growth uplift every corner of Africa.

Thank you.