Overview

• The inaugural biennial Summit for a Sustainable, Inclusive and Resilient Global Economy in New York gathered UN leaders, international financial institution chiefs, G7 and G20 representatives, and the COP30 president to align development finance efforts.
• Leaders, including South Africa’s President Cyril Ramaphosa, warned the 2030 Agenda is in peril and cited a $4 trillion annual shortfall for the Sustainable Development Goals.
• The Secretary-General noted a 9% drop in official development assistance in 2024 with a further 9–17% decline projected for 2025, alongside a UN-reported record $2.7 trillion in global military spending.
• A growing consensus backed measures to unlock finance by strengthening domestic resource mobilization, tripling multilateral development banks’ lending capacity, leveraging private capital, and creating new instruments to manage debt risks and climate shocks.
• The Sevilla Commitment provides the framework for action, with calls to reform the international financial architecture to expand developing countries’ voice and with climate finance details expected in Belém ahead of Doha and COP30.