The President of the Government of Spain opens the largest international summit held in Spain, in Seville

FIBES Conference and Exhibition Centre, Seville

Group photo of the 4th United Nations Financing for Development Conference (Pool Moncloa /Borja Puig de la Bellacasa)

The President of the Government of Spain, Pedro Sánchez, together with the Secretary-General of the United Nations, António Guterres, opened the 4th International Conference on Financing for Development, which is being held from today until Thursday 3 July in Seville. With more than 60 world leaders present, more than 200 official delegations representing 170 countries, 60 international organisations and nearly 400 events planned, this meeting will be the largest international summit held to date in Spain.

The President of the Government of Spain began his speech by highlighting the challenges facing the Conference, such as the gap in funding needed to achieve the Sustainable Development Goals - estimated at four trillion dollars a year - and with two out of every five families living in countries that have to devote more resources to debt repayment than to education or healthcare. "This summit is an opportunity to get back on track. To raise our voice against those who try to convince us that rivalry and competition should set the pace for humanity and its future," said Pedro Sánchez.

Seville Commitment

At the opening session, the Conference plenary approved the so-called Seville Commitment, the declaration reached by consensus that sets in motion a new framework to mobilise more financing for development, improve its use and make it more efficient, fairer and more transformative. Among other initiatives, the Seville Commitment includes the commitment to reach 0.7% of Gross National Income in development aid, put in place mechanisms to restructure debt and reduce the costs of indebtedness, promote progressive tax systems and strengthen the voice of developing countries in international financial institutions.

The President of the Government of Spain, Pedro Sánchez, speaks at the opening session of the Conference | Pool Moncloa /Borja Puig de la Bellacasa

The President of the Government of Spain also announced the launch of the Seville Platform for Action, an initiative that will enable countries, the private sector and civil society to join forces to implement the provisions of the Seville Commitment, or even go further.

Pedro Sánchez also announced that this Tuesday he will present the Seville Plan for Multilateralism, which among other things will include the opening of the United Nations House in Madrid, a new headquarters that will house the offices of several agencies that have expressed an interest in setting up in Spain. "It will be a centre where they can continue undertaking their work in safety, with support and recognition. Because in the face of the evident weakening of the multilateral order, countries like Spain will be dedicating themselves to defending and promoting it. Today more than ever the world needs a strong United Nations, capable of tackling the great global challenges facing humanity," the President stressed.

Pedro Sánchez called on conference participants to transform the world and move decisively towards sustainable development: "Seville offers us a great opportunity and in this difficult, uncertain and complex time, there are not many opportunities; therefore, we have to take advantage of this opportunity to work together so that, when we look back, we can be sure that we did what we had to do, when we had to do it, how we had to do it.

Non official translation