Financing our future: Towards the 4th International Conference on Financing for Development

While there has been progress on many aspects of the development agenda since the launch of the Sustainable Development Goals (SDGs) in 2015, the world has also faced multiple setbacks, from pandemic to new conflicts to increasing climate shocks. The Pact for the Future agreed by UN Member States in September 2024 provided impetus to accelerate action towards the SDGs.

Yet, the financing gaps for sustainable development are growing in the face of multiple crises, from $2.5 trillion before the COVID-19 pandemic to $4 trillion in investments needed by developing countries now to achieve sustainable development (DESA, Financing for Development Report 2024). The costs of inaction are even higher, both economically and socially. Developing countries are currently facing compounded obstacles to mobilising the necessary SDG investments, which are the result of unsustainable debt burdens, exposure to climate risks, illicit financial flows, and insufficient alignment of domestic resource mobilisation processes with the SDGS. This is taking place in the context of escalating trade and geopolitical tensions, as well as increased pressure on official development assistance.

Against this backdrop, the 4th International Conference on Financing for Development (FfD4), which will take place in Sevilla from 30 June to 3 July, will focus on reinforcing the means of implementation for the SDGs, with an emphasis on strengthening the international financial architecture, promoting inclusive growth, and aligning international support with national development priorities.

In the lead-up to the FfD4, this in-person event convened speakers from EU institutions, senior policymakers engaged with EU matters, and stakeholders involved in FFD4 preparations at both global and national levels. The objective was to foster dialogue and enhance awareness about the upcoming conference, with a special focus on the role of the EU in both the preparatory process and the post-conference follow-up.

The event featured two interactive panels, focused on two core issues aligned with the FfD4 themes:

1. Panel 1: Reforming the global financial architecture: From easing access to structural transformation
2. Panel 2: Enhancing and aligning international assistance with country priorities and finance

This in-person event brought together a mix of speakers from EU institutions, senior policy makers engaged with EU matters, as well as policy makers involved in FFD4 preparations at global and country levels, including:

• Her Excellency Ms. Weronika Frydryszek (Representative of Poland to the Political and Security Committee and Deputy Head of the Permanent Representation of Poland )
• Stefano Manservisi (Former Director General for International Cooperation and Development, DEVCO)
• Shari Spiegel (Director of the Financing for Sustainable Development Office, UNDESA)
• MEP Barry Andrews (Chair of the Development Committee, European Parliament)
• Julia Sánchez (UN Resident Coordinator in the Dominicane Republic)
• Caroline Wellemans (Head of the Sustainable Finance Polcy unit in DG INTPA, European Commission)
• María Ron Balsera (Executive Director, Center for Economic and Social Rights)

For more information about this event, please do not hesitate to contact Christian Salm, Head of Office of the President (christian.salm@feps-europe.eu).