Borrowers' Platform to Hold First Governing Council in Bangkok
The UN-backed Borrowers' Platform, open to net-borrowing developing countries, will hold its first Governing Council meeting in Bangkok on 12 October.
The story in focus
The UN-backed Borrowers' Platform will hold its first Governing Council meeting in Bangkok on 12 October, where members are expected to confirm membership, adopt a foundational document and elect a chair. More than 30 countries attended a recent information session, and over 100 developing countries have been invited to participate.
- First Governing Council meets in Bangkok on 12 October, on the margins of the IMF–World Bank Annual Meetings.
- Representatives from more than 30 countries joined a recent UNCTAD information session; over 100 developing countries have been invited.
- UNCTAD analysis says rising interest payments reduced development fiscal space in 99 developing countries between 2018 and 2024.
Governance steps at first council
The Platform's first Governing Council is expected to confirm membership, adopt a foundational Modalities document and elect its first chair, with a joint communiqué setting out shared priorities. Governance pairs a ministerial-level Governing Council, which sets political direction, with a Steering Committee of senior technical officials overseeing operational work. A chair rotates annually, elected by member countries.
Since the Platform's launch in April, an interim phase led by Egypt and supported by UNCTAD as Secretariat has established governance arrangements, identified technical priorities and delivered a first peer-learning workshop in the Maldives. Ambassador Alaa Hegazy of Egypt, Interim Chair, said the Platform gives borrower countries a dedicated space to share knowledge on debt issues.
Debt pressure and platform scope
UNCTAD analysis cited by the Platform says borrowing costs have grown much faster than government revenues over the past decade. Between 2018 and 2024, rising interest payments reduced fiscal space for development in 99 developing countries home to 5.5 billion people.
The Platform is voluntary and open to eligible net-borrowing developing countries with no financial obligation to join. It is designed to complement existing international debt mechanisms rather than replace them, and is not a forum for collective debt restructuring or a collective bargaining body. Its stated aims include peer learning, knowledge sharing, capacity building, targeted technical assistance and a shared repository of experience, data and case studies.
What is expected at the Platform's first Governing Council meeting?
Members are expected to confirm the Platform's membership, adopt its foundational Modalities document and elect a first chair, with a joint communiqué outlining shared priorities. The meeting is held in Bangkok on 12 October.
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