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U.N. secretary-general tells financing-for-development conference that global financing for the SDGs is faltering
Summary
At a U.N. briefing, the secretary-general—reported by U.N. officials—said the 2030 Agenda is at risk and described the Financing for Development conference in Seville as a starting point to restore investment and justice in development finance.
The United Nations said the secretary-general, speaking from Seville where he attended the fourth International Conference on Financing for Development, warned that global financing for the Sustainable Development Goals is faltering and must be restored.
"Financing is the engine of development, and right now this engine is sputtering," the secretary-general said in remarks summarized at the briefing. He told delegates the conference is "not about charity" but about investing in the shared future and restoring justice and dignity.
U.N. officials at the briefing said the launch of the CVA platform for action aims to offer an action-oriented response to global financing challenges and that the Sevilla commitment document signals countries' dedication to reviving development finance. The secretary-general also joined a joint press encounter with the president of the government of Spain and held bilateral meetings with several national leaders during the conference.
The U.N. deputy secretary-general participated in side events focusing on closing the SDG financing gap, the role of public-private cooperation and the centrality of gender equality in sustainable finance. U.N. Women warned in a related press summary that chronic underfunding and unfair financial systems are impeding gender-equality progress and estimated that developing countries face an annual shortfall of about $420,000,000,000 to meet gender-related SDG targets.
U.N. officials said readouts of bilateral meetings would be shared with member states and that the conference seeks to unite public and private sector leaders, regulators and development banks to make the outcomes an operational beginning rather than a final statement.
