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Scenes from the 4th International Conference on Financing for Development, held in Seville. A gathering of global minds, bold ideas, and actionable solutions — all focused on financing a more sustainable and inclusive future. 🌍

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Nizami Ganjavi International Center - NGIC

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19,254 views • 1 year ago •via X (Twitter)

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Fariz Babayev1 year ago

Always enlightening to see global minds unite for sustainable solutions! Let's hope these innovative ideas spark real change and drive inclusive growth worldwide.

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Excellencies, Distinguished Delegates, It is an honour to address this Biennial Summit. We gather at a moment when the 2030 Agenda is in peril. It is estimated that we need to close a financing gap of $4 trillion annually if we are to meeting the Sustainable Development Goals. A succession of crises has exposed the fragility of our interconnected economies and revealed deep inequities in our capacity to respond. While some nations are able to mobilise trillions to shield their citizens and economies from pandemics and other emergencies, others are left constrained by debt and denied fair access to global capital. We should use this Summit to push for the full implementation of commitments made across various forums – from the Financing for Development process to the #G20 and Climate Change COP. We must strengthen coordination between the UN, the African Union, the G20, international financial institutions and other global financial actors, embedding inclusivity at the heart of global economic governance. To close the SDG financing gap, we need to undertake the following bold measures: Firstly, we need debt relief and restructuring that is faster, fairer and more comprehensive. Secondly, we need to mobilise affordable, accessible financing from a wide range of sources. Thirdly, we need to rechannel unused Special Drawing Rights to countries in need. Fourthly, we must scale up concessional finance through development banks. Lastly, we must reform global tax rules to curb illicit financial flows Beyond financial instruments, we need confidence that commitments will be honoured and that global rules will be shaped by all members, not just a few. Let us forge a new compact for financing sustainable development rooted in solidarity, equity and mutual accountability. South Africa stands ready to ensure this Summit becomes a turning point in our collective effort to build a sustainable, inclusive and resilient global economy. I thank you. #UNGA80 🇺🇳
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