2 July 2025 - A senior UN official has told UN News that the global development challenge is not lack of money, but how to align public and private capital flows. The Sevilla Agreement adopted this week, sets out a roadmap for all UN Member States — except the US which pulled out earlier this month — with the aim of mobilizing that capital.
Development benefits all countries because it is linked to other areas of activity and society, including basic security itself. Without it, there is no hope – and no stability.
That is the key message from the Director of the UN Development Programme's Bureau for Policy and Programme Support (UNDP), Marcos Neto, to all other nations gathered in Sevilla who have signed up to the plan of action, which gets underway immediately.
The Sevilla Agreement is the centrepiece of the 4th International Conference on Financing for Development, and it has been adopted by 192 of the 193 UN members.
The United States withdrew citing fundamental disagreements with many policy approaches and is absent from the summit taking place amid scorching temperatures in the southern city of Sevilla, Spain.
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