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FfD4 Concludes: Seville Roadmap Aims to Close US$4T SDG Financing Gap

The Seville roadmap sets ambitious targets, but critics question its political momentum. With debt crises and climate change escalating, international cooperation is urgent.

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FfD4 Concludes: Seville Roadmap Aims to Close US$4T SDG Financing Gap

The Fourth International Conference on Financing for Development (FfD4) concluded in Seville, Spain, with nearly 60 heads of state and top multilateral institutions in attendance. The conference aimed to shape the future of international development finance amidst shrinking aid budgets and escalating crises, including climate change.

FfD4 saw lively debates around reforming sovereign debt architecture, moving beyond the 'billions to trillions' narrative, and addressing climate finance. A notable shift was observed since the previous conference in Addis Ababa ten years ago, with official sessions reflecting government reluctance to take political risks, while side events revealed a strong appetite for change.

The Compromiso de Sevilla, a 38-page roadmap to close the US$4 trillion annual financing gap for the SDGs, was adopted by government representatives. Despite the launch of the Seville Plan of Action, a package of over 130 initiatives, some critics felt it lacked real political momentum, describing it as mere 'technocratic box-ticking'.

The conference took place against a backdrop of debt crises in around 60 countries and escalating impacts of climate change and biodiversity loss. However, the atmosphere was dampened by the low attendance of leaders, with only 50 present, and the absence of the United States. Side events, nonetheless, buzzed with energy, focusing on debt justice, feminist groups, tax justice, and climate activism.

FfD4 ended with the adoption of the Compromiso de Sevilla, a roadmap to close the SDG financing gap. Despite mixed reactions to the Seville Plan of Action, the conference highlighted the urgent need for international cooperation to tackle development challenges amidst multiple crises, including climate change. The road ahead remains uncertain, with governments needing to translate commitments into concrete actions.

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