PRESS STATEMENT
For Immediate Release
New York, 19th June 2025 – In a significant development, the United Nations Member States have approved, by consensus, the final outcome document of the Fourth International Conference on Financing for Development (FFD4), dubbed “Compromiso de Sevilla” (The Seville Commitment). This landmark outcome document sets forth a comprehensive framework to address the pressing sustainable development financing challenges facing the world.
The Seville Commitment outlines critical actions to catalyse investment to bridge the $4 trillion SDG financing gap and will significantly impact the global development finance landscape over the next decade. Some key action areas include:
i. A strong commitment to reform the international financial architecture to make it more inclusive and effective for developing countries;
ii. Increasing multilateral development banks’ lending to finance sustainable development;
iii. Renewed commitment to curb illicit financial flows;
iv. Leveraging private investment to create decent jobs, especially for the youth; and
v. Lowering the cost of capital in developing countries, especially in Africa, by engaging various players in the financial system, and enhancing the voice of developing countries in the global debt architecture.
The Permanent Mission of the Republic of Zambia to the United Nations played a significant role as one of the penholders of the outcome document as part of Zambia’s stance of economic diplomacy. This entails, among others, amplifying the voice of the Global South on financing of the SDGs. The Seville Commitment aligns with Zambia’s foreign policy objectives and the country’s focus on enhancing trade and investment as well as its advocacy on lowering the cost of borrowing and the reform of the international financial architecture.
The Seville Commitment is set for adoption at the FFD4 Conference in Seville, Spain, from 30th June to 3rd July 2025, where Heads of State and Government and leaders in the international financial system will gather to launch this ambitious renewed global financing framework.
Issued by the Permanent Mission of the Republic of Zambia to the United Nations.
