Today, a financing gap of $ 4 billions hinders progress Sustainable development objectives (ODD) at the end of this decade.
In response, the Fourth International Conference on Development Financing (FFD4) will take place in Seville, Spain, from June 30, bringing together the stakeholders to advance solutions to the challenges of funding threatening sustainable development.
“We have seen debt expenses and a decrease in down investments, and we have seen aid and an increase in trade barriers. The current system certainly does not provide the people it has been designed to support, “said the deputy secretary general Amina Mohammed During a briefing on the conference on Wednesday.
She was joined by Ambassador Héctor Gómez Hernández from Spain and Ambassador Chola Milambo de Zambia.
Role of stakeholders
More than 70 heads of state and government will attend the conference, as well as leaders of international financial institutions, civil society, philanthropies and the private sector, including energy, food systems and digital industries.
“The collective presence alone, I believe, sends a good signal for multilateralism at a time when we are faced with a lot of perspective,” said Ms. Mohammed.
Seville engagement
June 17, Member States agreed THE Seville compromisoor commitment from Seville, to adopt at the conference.
Ms. Mohammed stressed that the commitment addresses the debt crisis in developing countries which are particularly vulnerable to the financing of deficits, because many spend more for the interests of debt than for essential services, which subjects the opportunity for sustainable development.
Ambassador Milambo explained that this will be done by greater transparency, a global debt register and amplifying the votes of the debtor countries.
It also aims to catalyze investments by tripling loans from the Multilateral Development Bank (MDB), by doubling official development assistance (ODA) to developing countries, by taking advantage of private sector investment and ensuring that the international financing system is more inclusive and effective.
“It is a program on which world leaders can do something. They have the tools – and political weight – to get there, “said Ms. Mohammed.
Multilateralism test
Ambassador Hernández stressed that the conference arrives at a critical moment for multilateralism.
“This conference is a call for action, and we have the extraordinary opportunity to send a very strong message to defend the commitment of the international community towards the multilateral system,” he said.
Ambassador Milambo later added that the consensus on Seville’s commitment “sends a real message of hope to the world that we can take up the challenges of funding which hinders the SDGs and that multilateralism can still work.”
Despite the consensus, the United States recently announced that it would not send a delegation to the conference.
The speakers have urged observers to keep in mind the broader image: “It is regrettable, but that does not prevent us from continuing to engage with this Member State” and to request a change in the action plan, said Ms. Mohammed.
She concluded by noting that, especially given the recent agreement of the commitment, the discussions that the UN has with other donors on how they try to use resources more effectively, hopefully.
Publicado anteriormente en Almouwatin.
