Particle.news

Download on the App Store

Seville Financing Summit Advances Reform Roadmap as US Stays Away

More than 50 heads of state are gathering to endorse reforms that will triple multilateral lending, overhaul tax and debt frameworks, scale private investment, strengthen Global South representation, close a $4 trillion annual financing gap for the SDGs

Image
FILE - The United Nations flag flies on a stormy day at the U.N. during the United Nations General Assembly, Sept. 22, 2022. (AP Photo/Ted Shaffrey, File)
Image
People take part in a march demanding a UN-led framework for sovereign debt resolution, on the eve of the 4th International Conference on Financing for Development, in Seville, Spain, June 29, 2025. REUTERS/Claudia Greco

Overview

  • Over 50 heads of state and more than 4,000 representatives from governments, businesses, civil society and financial institutions have convened in Seville for the Fourth International Conference on Financing for Development.
  • The United States walked out of preparatory talks on June 17, rejected the 38-page outcome document and is not attending, leaving other nations to advance the Seville Commitment without its backing.
  • UN Secretary-General Antonio Guterres warned that two-thirds of the Sustainable Development Goals are lagging and called for an immediate surge in development investment to meet the $4 trillion annual shortfall.
  • Delegates are set to formally adopt the Seville Commitment, a consensus declaration urging a tripling of multilateral development bank lending, tax and debt system reforms and more predictable financing for social spending.
  • United Nations data show that external debt in the least developed countries has more than tripled in 15 years, with many nations paying more in interest than on health or education and pressing for comprehensive financial reforms.