The Fourth International Conference on Financing for Development (FFD4) is well underway in Sevilla, Spain.
At the heart of day 2, on Tuesday, are discussions to reach an outcome that lays the foundation for a renewed global framework for financing development.
António Guterres, United Nations Secretary-General, said “we are here in Sevilla to change course. To repair and rev up the engine of development to accelerate investment at the scale and speed required, and to restore a measure of fairness and justice for all. The Sevilla Commitment document is a global promise to fix how the world supports countries as they climb the development ladder.”
Another outcome is to close the $4 trillion financing gap for the Sustainable Development Goals (SDGs), address the debt crises, and reform the rules of the system to make the international financial system fairer and more transparent, putting people’s needs at the center, and injecting new hope for people around the world.
Some15,000 delegates are at the Conference, including close to 60 Heads of State and Government, ministerial-level representatives, heads of international organizations, such as the World Bank, the International Monetary Fund and the World Trade Organization, public development banks, private sector organizations and civil society representatives.
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