Secretary-General: Sevilla Platform for Action Offers ‘Ambitious, Action-oriented Response to Global Financing Challenge’

Thank you for joining this launch of the Sevilla Platform for Action. 

Respected President of the Government of Spain — I commend you and your government for your vision and leadership as hosts of the Fourth International Conference on Financing for Development. 

We are all here to respond to a global development crisis that threatens people and planet alike. 

Our roadmap to a better future — the Sustainable Development Goals — is in danger. 

Two-thirds of the targets are not progressing fast enough — or at all. 

Solutions depend on financing. 

Developing countries need over $4 trillion a year to deliver on the 2030 Agenda. 

But they are being battered by limited fiscal space, slowing growth, crushing debt burdens and growing systemic risks. 

The Sevilla Commitment document represents a bold plan to get the engine of development revving again:

Through new domestic and global commitments that can channel public and private finance to the areas of greatest need… 

By overhauling the world’s approach to debt to make borrowing work in service of sustainable development… 

And by reforming the global financial architecture to reflect today’s realities and the urgent needs of developing countries. 

But we need all hands on deck. 

And that’s why the Sevilla Platform for Action is so critical — and so significant. 

In the midst of a world of division, conflict and economic uncertainty, this Platform contains more than 130 specific initiatives that demonstrate what we can achieve by working together. 

Governments, private sector partners, international institutions, and civil society groups all together are teaming up to launch high-impact initiatives to bring the Sevilla Commitment to life. 

This includes a global hub for debt swaps at the World Bank as part of a broader facility aimed at relieving liquidity constraints and lowering the cost of borrowing. 

A debt pause alliance to help countries in times of crisis. 

A global coalition to scale-up pre-arranged finance that can be readily deployed when disasters strike. A blended finance platform to bring public and private finance together in a new and expanded way. 

A new tool for Multilateral Development Banks to manage currency risks. 

And a commission to explore the future of development cooperation. 

In December, I appointed a group of experts on debt who today are announcing 11 immediately actionable proposals to help resolve the debt crisis. 

This includes the commitment to establish a borrowers forum for countries to learn from one another and coordinate their approaches in debt management and restructuring. 

I look forward to working closely with Member States — including the G20 — to bring this forum to life, to empower borrower countries, and create a fairer system. 

The Sevilla Platform for Action offers an ambitious, action-oriented response to the global financing challenge. 

It provides a springboard toward a more just, inclusive, and sustainable world for all countries. 

And above all, it proves that progress and change are possible if we work together. 

I hope the Platform inspires countries to work as one to tackle other challenges facing our world today. 

Once again, I thank Prime Minister Sánchez and all of you for your leadership. 

Thank you.

[END]