UNITED NATIONS, May 14 (Xinhua) -- To put an end to inequality is a colossal challenge that requires collective solutions and a deep and structural transformation in societies, United Nations General Assembly (UNGA) President Maria Fernanda Espinosa Garces said on Tuesday.

Speaking at the UN General Assembly High-level Thematic Debate on Addressing Inequality Towards Inclusive Development, the UNGA president said that "inequality is not the fate of humanity; we can put an end to it, it is a choice."

Inequality is, along with climate change, the greatest challenge now, said Espinosa. "If we do not reduce inequalities, we will not achieve the Sustainable Development Goals. "

"To reduce inequality we must broaden access to services, to opportunities and to resources," she said, adding that countries need to promote universal access to foodstuffs, land, consumable goods, healthcare coverage and quality primary and secondary education.

The International Labour Organization calculated that 55 percent of the world's population is unprotected by at least one social benefit. This must change to prevent worsening inequalities in future generations, said the UNGA president.

Addressing gender inequality is also fundamental, since it affects half the world's population. Just by closing the gender wage gap, which at a global level is of 20 percent, the global GDP could be increased in additional 28 trillion U.S. dollars by 2025, she added. "We must ensure the financial inclusion of women as agents of the economy."

The UNGA president also called for a stronger multilateralism, and a more supportive and cooperative international system, in order to solve the persisting challenges and promote prosperity for all.

Global solutions such as regulating and monitoring institutions and financial markets, development assistance and direct investments in the countries that need it the most, are essential, she said. Enditem

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