Video Message
Excellencies,
Distinguished guests,
I am pleased to deliver this message ahead of the Fourth International Conference on Financing for Development.
At the outset, I would like to express my sincere appreciation to the Government of Spain for its leadership and vision. Hosting this Conference in such a challenging global environment demonstrates Spain’s unwavering commitment to multilateralism. Thanks to your efforts, Sevilla has become a symbol of our collective determination to address global challenges together, as one global community.
This Conference sends a powerful signal that multilateralism can and must deliver, even when divisions loom large.
With only five years remaining to achieve the Sustainable Development Goals, we face a critical deadline that demands a bold, large-scale investment push. This Conference rightly focuses on enhancing the role of public development banks. We must expand the lending capacity and promote a unified, coordinated approach among national, regional, and multilateral development banks to unlock transformative investment.
Crucially, we must improve the quality of finance-- not just the quantity. More impact-focused blended finance instruments are vital for attracting private capital. In addition, targeted efforts can reduce the cost of capital for developing countries. This can be achieved through systematized liquidity and debt management support, and more concessional financing.
Furthermore, reformed regulatory practices and credit rating assessment will enable investment at the scale required to meet our development priorities.
However, financing alone is not sufficient. We must ensure the international financial architecture is fit for purpose. Too many countries remain vulnerable to external shocks without sufficient safeguards. We must close the gaps in the global financial safety net through strengthened global macroeconomic coordination, policy coherence, and effective deployment of SDRs.
We must also strengthen the debt architecture. Restructuring processes must be more efficient, fair, predictable, coordinated, timely and orderly. Responsible lending and borrowing principles must be backed by action. Developing countries must have a stronger role in shaping the debt architecture.
That is why FFD4 has emphasized international financial architecture reform. Developing countries must have a greater voice and representation in international financial institutions. Inclusion is not a matter of charity but a matter of justice and effectiveness.
Excellencies,
Distinguished delegates,
Sevilla marks a turning point, where we can lay the groundwork for practical, systemic change. The overwhelming interest in the Sevilla Platform for Action demonstrates a broad commitment to implementing the renewed financing framework.
Let us now turn ambition into action, leaving Sevilla with a renewed purpose and united commitment to realizing sustainable development for all.
Thank you.