With more than 10,000 attendees, including 60 Heads of State and delegations from 150 countries, participating in more than 400 events including plenary sessions, roundtables, and bilateral meetings, Seville becomes a global epicenter of financing for development.
From last Monday until July 3, Seville hosts the 4th International Conference on Financing for Development. (FFD4), a key event bringing together more than 70 heads of state and government and representatives from 150 countries. The objective: to find solutions to the enormous financial challenges that hinder the achievement of the Sustainable Development Goals (SDGs) by 2030.
The meeting is taking place at a particularly delicate time. International cooperation has declined, critically affecting the most vulnerable countries. In fact, according to the OECD, global aid fell by 7% in 2024 and could fall by up to 17% this year. Added to this context is a notable absence: the United States has decided not to attend or sign the final document, the "Seville Commitment," which has been endorsed by the majority of participating countries.
An urgent call to action
"The current system is not benefiting the people it was designed to serve," acknowledged Amina Mohammed, UN Deputy Secretary-General. In her address to the press, she emphasized that this summit represents a unique opportunity to reform the rules of the international financial system and put human needs at the center.
A decade after the Addis Ababa summit (FFD3), where the 2030 Agenda was approved, and more than twenty years after the historic Monterrey Consensus (2002), the Seville conference aims to relaunch the global commitment to a fairer, more inclusive, and more effective financial architecture.
The $4 trillion deficit that is holding back the SDGs
The UN estimates that the world faces an annual financing gap of $4 trillion to meet the SDGs. Secretary-General António Guterres recently warned that “we are deviating dramatically” from the path set for 2030. The "Seville Commitment," a 38-page political document negotiated over months, recognizes this gap and proposes urgent reforms to the global financial system, including:
Debt-for-climate swaps.
Payment pause clauses for natural disasters.
Possible global solidarity levies on highly polluting activities.
An architecture that doesn't work for everyone
One of the most discussed points at the summit is the unequal distribution of international financing. As Laura Muñoz of the UN Development Capital Fund warned, 80% of renewable energy investment in Africa is concentrated in just four countries. This reflects a system in which private funds barely reach markets considered "too risky," such as many in the Global South.
According to Eurodad, 130 countries are in a critical debt situation. Since the pandemic, at least 13 have defaulted on their external debt. For many, reforming the financial architecture is no longer an option, but an urgent necessity.
The US, the notable absentee
The US withdrawal has sparked a heated debate. Washington has refused to join the "Seville Commitment" due to disagreements on key issues such as debt management, gender perspectives, and international trade. The document includes references to women's empowerment and the differential impact of poverty based on gender, issues the US administration does not support in this context.
Even so, the UN insists that this absence does not hinder progress. "It's regrettable, but we will continue working to demonstrate that this is the way forward," said Amina Mohammed.
A summit with global impact... and local impact
Beyond its international implications, the summit also has an impact on the host city. Seville has deployed an unprecedented security operation, with more than 8,000 officers and extensive restrictions on urban mobility. But it has also become the focus of global attention, hosting leaders such as Emmanuel Macron, Ursula von der Leyen, Cyril Ramaphosa, Pedro Sánchez, Mia Mottley, and António Guterres himself.
What now?
Although the "Seville Commitment" is not legally binding, it does outline a political roadmap toward a transformation of the international financial system. The big question is whether countries will keep their promises and manage to close the enormous financial gap before it is too late.
Because, as the Spanish ambassador to the UN, Héctor Gómez, pointed out, this summit is more than a conference: it is a call to action, a key moment to demonstrate whether multilateralism can still offer answers to major global challenges.