UN Chief Urges Global Action to Bridge USD 4 Trillion Financing Gap At Sevilla Conference
UN Secretary-General Antonio Guterres addressed world leaders at the 4th Financing for Development Conference (FFD4) in Sevilla, Spain, urging urgent action to close a staggering USD 4 trillion financing gap. This gap threatens the achievement of the Sustainable Development Goals (SDGs) set in 2015. Speaking in the sweltering June heat, Guterres described the moment as a “once-in-a-decade opportunity” for global cooperation to revitalize development financing. He warned that sustainable development is now “facing massive headwinds” fueled by climate change, conflicts, and deepening inequalities worldwide. The conference brought together nearly 60 world leaders, representatives from over 150 nations, and around 15,000 delegates.
Guterres emphasized that multilateralism is also under pressure as trust between nations and international institutions frays. “The world is on fire,” he said, highlighting global instability caused by inequalities, climate chaos, and ongoing conflicts. He called financing “the engine of development,” which is currently “sputtering.” The 2030 Agenda for Sustainable Development, a global promise to create a better, fairer future, faces serious risks unless immediate financial commitments are made. Guterres noted that about two-thirds of the ambitious SDG targets are significantly off track, underscoring the urgent need for investment to reverse this trend.
At the conference, participants adopted the Sevilla Commitment, which Guterres described as a “global promise” to lift low-income nations and accelerate investments at the scale and speed required to meet development goals. The United States, however, pulled out of the process earlier in the month and did not endorse the commitment. Guterres stressed that the conference’s goal is “to change course” and “repair and rev up the engine of development.” The Sevilla Commitment represents a collective effort to mobilize financial resources and foster international cooperation to meet the urgent needs of developing countries and achieve the SDGs.
(From ANI)
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