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From Seville to Solutions: My 10 Key Takeaways from FFD4

When I was on my way to Seville, my daughter, a medical student and curious as ever, asked me, “What exactly are you going there for?”. I paused for a moment before answering: “I’m going to a global meeting called FFD4. It stands for Financing for Development. It may not sound exciting, but it’s actually about something very real, how countries decide to raise and spend money to make life better for people. It’s about ensuring there’s funding for hospitals, health care, schools, clean water, healthy food and the fight against climate change.” I told her that decisions made there could impact whether her future patients will have access to proper healthcare, or not. Because at the end of the day, FFD is about making global finance work for everyone, not just the privileged few.

I am not sure I will be able to fully simplify the outcomes of FFD4 but here are my 10 takeaways:

Despite challenges, including severely restricted space limiting the full participation of non-state actors, the conference marked a significant moment in development finance within a geopolitically shifting world.

1. Unity & Urgency Amid Global Tensions

FFD4 demonstrated a certain unity and urgency despite escalating global tensions, soaring debt burdens, and declining official development assistance (ODA). The resulting Compromiso de Sevilla (Seville Commitments), adopted on day-one of the conference reflects global consensus, though it could have been more robust and concrete.

2. Bridging the $4 Trillion SDG Financing Gap

To address the $4 trillion annual financing gap needed for the Sustainable Development Goals (SDGs), the Compromiso de Sevilla outlined three critical areas:

  • Catalyzing investment at scale: Mobilize and direct domestic, international, and private sector capital toward key sustainable development objectives
  • Tackling debt crises innovatively: Introduce innovative strategies for debt management, restructuring, and utilization to ensure debts contribute positively to developmental outcomes
  • Reforming international financial architecture for fairer governance: Promote greater inclusivity by amplifying the voices of developing countries within global financial governance systems

3. Over 130 Initiatives Launched

Under the Sevilla Platform for Action, more than 130 initiatives were launched, demonstrating a clear shift from commitments to concrete, actionable projects.

International Business Forum: Mobilizing Private Capital for Sustainable Development

Held in parallel with the main Conference, the International Business Forum brought together global business leaders who issued a powerful call to action to unlock private capital for sustainable development. Through a joint Communiqué released alongside the Sevilla Commitment, they outlined five priority areas for impact investment.

For the first time, major business groups and investor alliances coordinated their efforts through the newly formed FFD4 Business Steering Committee, signaling a clear and unified commitment from the private sector.

4. Innovative Debt Solutions

Several innovative debt-management initiatives emerged, including:

  • Debt Swaps for Development Hub: A platform that brings together countries, donors, development partners, and technical experts to coordinate, scale, and support debt-for-development swaps
  • Debt-for-Development Swap Programme: dedicating funds for debt conversion in Africa. It is a financial arrangement where a portion of a country’s external debt is cancelled or reduced, in exchange for the country agreeing to invest that money into development projects such as like education, health care, climate resilience, or infrastructure.
  • Debt Pause Clause Alliance: embedding crisis-response clauses into lending agreements. This will offer crisis-affected countries a tool to temporarily suspend debt repayments during shocks such as climate disasters or pandemics, enabling faster recovery and fiscal breathing space.
  • Borrowers’ Forum: A new mechanism aimed at helping debt-distressed countries coordinate action and amplify their voice in the global financial system was launched in Seville

5. Boosting Development-Focused Investments and Domestic Resource Mobilization

FFD4 introduced strategic initiatives to scale development-focused investments and strengthen domestic resource mobilization:

  • Coalition for Global Solidarity Levies: taxing premium-class flights and private jets to fund climate and development.
  • Domestic Resource Mobilization: A strong emphasis was placed on enhancing countries’ ability to raise and manage their own revenues and other domestic resources. This includes expanding tax bases, tackling illicit financial flows, and improving fiscal systems to reduce dependence on external aid and increase financial sovereignty
  • Blended Finance Platform: To reduce risk perception and attract more investment for impactful projects.
  • Local Currency Lending Initiatives: to help protect borrowers in developing countries by offering loans in their own currency, reducing risk and promoting economic stability.
  • Effective Taxation Initiative: targeting equitable taxation of high-net-worth individuals and companies.

6. Reforming Global Financial Governance

Reforming global financial governance is essential to address the structural inequalities that perpetuate poverty, debt, and underdevelopment in the Global South. Today’s institutions, such as the IMF, World Bank, and G20, were designed in a different era and no longer reflect the realities, voices, or aspirations of the majority world. Developing countries, particularly in Africa, Latin America, and parts of Asia, remain underrepresented in decision-making processes that directly shape their economic futures. This imbalance has resulted in unfair lending practices, inadequate crisis responses, and rigid fiscal policies that constrain development. A reformed system must be more inclusive, transparent, and accountable, anchored in the principles of equity and justice. This includes giving equal voice and vote to developing nations, establishing a permanent and representative UN tax body, and ensuring that debt resolution mechanisms prioritize human development over creditor interests. Reform is not only a moral imperative; it is a strategic necessity to build a more stable, sustainable, and cooperative global economy.

7. Pre-arranged Disaster Financing

A significant commitment was made to increase pre-arranged disaster financing from 2% to 20% by 2035, to ensure better preparedness and resilience. This will help having money ready in advance to respond quickly when a natural disaster like a flood, earthquake, drought, or cyclone strikes.

8. Roadmap for Accountability and Implementation

FFD4 established a detailed roadmap including:

  • Immediate setup of oversight structures.
  • Rapid operationalization of financing mechanisms.
  • Monitoring and transparent reporting.
  • Enhanced technical assistance and capacity building.
  • Annual progress reviews at global forums.

9. Climate Change: An Urgent Reality Check

The scorching temperatures above 40°C, in Seville, last week was a strong reminder of the pressing reality of climate change. It was a pressing warning about, the urgent need to prioritize climate finance within our development agendas.

10. Restricted Space for Civil Society and Non-State Actors

A significant shortcoming of FFD4 was the severe restriction on participation, especially affecting civil society actors, raising concerns about inclusivity and representation in global development dialogues.

Conclusion: From Commitment to Collective Action

FFD4 in Seville has set goals and launched critical initiatives. However, true success can only come from sustained collective resolve and dedicated implementation. Now, the real test begins; translating these commitments into impactful realities for people and our planet.

Next up: A deep dive into one of our key policy side events at FFD4 on Financing Development and the Geopolitics of Critical Minerals, so, watch this space!

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Will the 4th Financing for Development Gathering do Justice for Africa?

From different side discussions I participated in here in Washington DC on this subject matter, as we conclude the 2025 World Bank/IMF Spring Meetings, one message is abundantly clear: Africa must come prepared to the Fourth Financing for Development (FFD4) Conference in Seville. It should not be simply another global convening, FFD4 represents an unparalleled moment for the continent to redefine financial justice, assert its agency, and demand structural transformations within the global economic governance system.

The current global financial architecture is profoundly inequitable, marked by a historical bias that relegates African and other Global South countries to the periphery. Brian Kagoro, Managing Director for Programs at Open Society Foundations, rightly articulated that the present financial system was originally designed under assumptions of permanent inequality, with clear roles for “center” and “periphery.” This paradigm, no longer tenable, demands a complete reform, not cosmetic adjustments.

The Debt Crisis: Beyond Liquidity to Structural Reform

At the heart of Africa’s position for Seville, Spain must be the recognition that debt crises faced by African nations are not merely liquidity issues. Instead, they are deep-rooted structural and wealth crises resulting from systemic inequities. The Common Framework developed by the G20 has notably failed. Africa must champion a UN Framework Convention on Sovereign Debt, embedding principles of responsible lending, borrower rights, and genuine multilateral accountability mechanisms.

The Exclusion of African Voices in Debt Negotiations

Jason Braganza from AFRODAD stressed that the current debt restructuring approaches have failed Africa fundamentally. These processes, dominated by creditor institutions like the IMF, draw off vital public funds away from healthcare, education, and infrastructure into debt repayments. Seville must be the platform where Africa decisively argues for a debt resolution framework anchored in equity, transparency, and genuine partnership.

International Tax Cooperation: Reclaiming Democratic Space

Another critical dimension is international tax cooperation. Historically marginalized in global tax rule-making dominated by OECD countries, African states lose an estimated $89 billion annually through illicit financial flows and aggressive tax avoidance. Africa’s push for a UN Framework Convention on International Tax Cooperation represents not just an economic necessity but a reclaiming of democratic space and equitable representation in global economic governance.

The conclusions of the recent Summit of the Future reinforced this call by endorsing the establishment of a more inclusive, effective, and transparent global tax governance framework. Member States recognized the inadequacies of the current OECD-centered system and agreed to prioritize negotiations toward a United Nations Tax Convention. This shift offers Africa a vital opportunity to push for rules that ensure fair taxation of multinational corporations, address harmful tax competition, and guarantee that every country, regardless of size or economic power, has an equal seat at the decision-making table. For Africa, the road to Seville is not just about advocating for reform; it is about securing a transformative, legally binding mechanism that can reverse systemic revenue losses and reinforce the continent’s capacity for sustainable development.

Strengthening Domestic Resource Mobilization in Africa

Strengthening domestic resource mobilization (DRM) in Africa is a crucial pillar for building sustainable, self-reliant economies. African governments must invest in modernizing their tax systems to ensure efficiency, transparency, and the capacity to capture revenues from rapidly evolving sectors such as the digital economy. This includes implementing fair and progressive taxation, combating illicit financial flows, and strengthening regulatory frameworks that close loopholes exploited by multinational corporations. By improving domestic revenue collection, African countries can significantly reduce their dependence on external financing and debt, thereby reclaiming greater fiscal sovereignty to fund health, education, and infrastructure projects.

However, strengthening DRM cannot be confined to national reforms alone. Global financial rules must also evolve to support African countries’ efforts. As Mwila Mkosa from the Zambian mission to the UN emphasized, the international tax framework must be reformed to create an enabling environment for African states to effectively mobilize their domestic resources. This includes addressing harmful tax competition, reforming unfair global trade practices, and ensuring that African countries have an equitable voice in setting global financial and tax standards. At Seville, Africa must press for concrete commitments that bridge national reforms with international cooperation, ensuring that domestic resource mobilization becomes a genuine driver of inclusive and sustainable development

Rethinking Private Finance in Development

The upcoming FFD4 must critically address the role of private finance. The previous “billions to trillions” narrative, heavily reliant on private sector financing without adequate oversight, has proved largely illusory. Africa’s position should advocate for private finance to operate under robust governance frameworks that prioritize socio-economic transformation over narrow profit-driven outcomes.

Reimagining Multilateralism: Beyond the Status Quo

A consistent theme emerging from these discussions was the need to reimagine multilateralism, not to preserve a flawed status quo but to fundamentally redesign it. As Brian Kagoro aptly put it, “the world we want to save has not yet been born.” Africa must advocate for multilateral frameworks that genuinely reflect principles of equality, transparency, and mutual accountability.

We need concrete, Actionable Commitments at Seville

The outcomes from Seville must move beyond ambitious language to concrete, actionable commitments backed by accountability frameworks. Seville must differ from previous summits by producing commitments specific enough to allow for tangible monitoring and public accountability.

Africa stands at a crossroads. We have an opportunity at Seville to assert not only our needs but our rights, our right to fair participation, our right to equitable economic structures, and our right to control our developmental futures. The moment is ready for bold, strategic, and unified action. True reform is not merely about changing systems but about fundamentally shifting power dynamics. Africa’s call must be clear: reform of the global financial architecture is an urgent demand for justice, equity, and sustainable development. The stakes are high, the time for incremental adjustments is past, and the moment for profound, transformative change is now.