From June 30 to July 3, 2025, Sevilla, Spain, is hosting the Fourth International Conference on Financing for Development, which brings together over 70 world leaders, UN delegates, economists, and campaigners to tackle the challenges posed by the 2030 Agenda for Sustainable Development.

U.N. Secretary-General Antonio Guterres has emphasized the urgent need to revitalize trust in multilateralism and enhance support for poorer countries, particularly in light of reduced foreign aid contributions from the U.S. during the Trump administration.

During the conference, Guterres will advocate for reforms in world development banks to facilitate increased lending, attract private investments, and establish a fairer credit rating system to lower borrowing costs for developing countries.

French President Emmanuel Macron has called on development banks to prioritize lending capabilities over maintaining high credit ratings, suggesting that they should be willing to compromise their ratings to meet funding targets.

Key actions to be discussed at the conference include doubling support for mobilizing domestic resources, tripling lending by Multilateral Development Banks, and creating new initiatives to address the debt crisis through coordinated approaches among borrowers.

Guterres also stressed the importance of constructive dialogue between traditional financial institutions and new economic actors to better align financial resources with citizens' aspirations.

African leaders have highlighted the need for a financing model that prioritizes Africa's development concerns, particularly addressing debt as a significant barrier to progress.

Development advocates are pushing for more ambitious measures, including a proposed solidarity levy on polluting industries to support vulnerable populations affected by climate change.

Senator Aurangzeb from Pakistan will emphasize the importance of scaling up financing for small and medium-sized enterprises (SMEs) to enhance economic resilience in developing countries.

South African President Cyril Ramaphosa has canceled his visit to the conference due to domestic political issues, reflecting the challenges in promoting Global South priorities during his G20 presidency.

A report by Nobel laureate Joseph Stiglitz reveals that 3.3 billion people live in countries where more is spent on debt interest than on health care, underscoring the urgent need for reform in global financial systems.

Despite the challenges posed by the U.S. withdrawal from foreign aid commitments, leaders from the European Union and France reaffirm their dedication to collective mobilization and development financing.