THE SECRETARY-GENERAL -- REMARKS AT THE OPENING OF THE 4TH FINANCING FOR DEVELOPMENT CONFERENCE

 

 

Your Majesties, 

 

Excellencies, ladies and gentlemen, 

 

I thank the Government and people of Spain for welcoming us to Sevilla for this important conference. 

 

For decades, the mission of sustainable development has united countries large and small, developed and developing. 

 

Together, we achieved progress. 

 

Reducing global poverty and hunger. 

 

Saving lives with stronger health care systems. 

 

Getting more children into school.

                                          

Expanding opportunities for women and girls.

 

And strengthening social safety nets. 

 

But today, development and its great enabler — international cooperation — are facing massive headwinds. 

 

We are living in a world where trust is fraying and multilateralism is strained. 

 

A world with a slowing economy, rising trade tensions, and decimated aid budgets.

 

A world shaken by inequalities, climate chaos and raging conflicts. 

 

The link between peace and development is clear. 

 

Nine of the ten countries with the lowest Human Development Indicators are currently in a state of conflict. 

 

Excellencies, 

 

Financing is the engine of development. 

 

And right now, this engine is sputtering.

 

As we meet, the 2030 Agenda for Sustainable Development — our global promise to transform our world for a better, fairer future — is in danger. 

 

Two-thirds of the Sustainable Development Goals targets are lagging. 

 

Achieving them requires an investment of more than $4 trillion a year.

 

But this is not just a crisis of numbers. 

 

It’s a crisis of people.

 

Of families going hungry. 

 

Of children going unvaccinated. 

 

Of girls forced to drop out of school.

 

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.

 

Excellencies, 

 

The Sevilla Commitment document is a global promise to fix how the world supports countries as they climb the development ladder.

 

I see three areas of action.

 

First — we must get resources flowing. Fast.   

 

Countries must lead by mobilizing domestic resources and investing in areas of greatest impact: schools, health care, social protection, decent work, and renewable energy. 

 

Unlocking these investments requires strengthening tax systems, and tackling illicit financial flows and tax evasion. 

 

And helping developing countries dedicate a greater share of their tax revenues to the systems people need. 

 

The Sevilla Commitment’s call on developed countries to double their aid dedicated to domestic resource mobilization to support this. 

 

Multilateral and national development banks must unite to finance major investments. 

 

This includes tripling the lending capacity of Multilateral Development Banks — and rechanneling Special Drawing Rights that can unlock lending capacity and help developing countries boost investment. 

 

We also need innovative funding solutions to unlock private capital.   

 

Solutions that mitigate currency risks; 

 

That combine public and private finance more effectively, and ensure the risks and rewards of development projects are shared by both the public and private sectors; 

 

And that ensure financial regulations assess risk appropriately and support investments in frontier markets.

 

Second — we must fix the global debt system which is unsustainable, unfair and unaffordable. 

 

With annual debt service at $1.4 trillion, countries need — and deserve — a system that lowers borrowing costs, enables fair and timely debt-restructuring, and prevents debt crises in the first place. 

 

The Sevilla Commitment lays the groundwork:   

 

With other aspects, by also creating a single debt registry for transparency, and promoting responsible lending and borrowing; 

 

By lowering the cost of capital through debt swaps and debt management support; 

 

And through debt service pauses in times of emergency.     

 

And third — we must increase the participation of developing countries in the institutions of the global financial architecture. The present major shareholders have a role to play recognizing the importance of correcting injustices and adapting to a changing world. 

 

A new borrowers forum will give voice to borrowers for fairer debt resolution and can foster transparency, shared learning and coordinated debt action. 

 

And we need a fairer global tax system shaped by all, not just a few. 

 

Excellencies, ladies and gentlemen, 

 

This conference is not about charity. 

 

It’s about restoring justice and lives of dignity. 

 

This conference is not about money. 

 

It’s about investing in the future we want to build, together. 

 

Thank you all for being part of this important and ambitious effort. 

 

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