The Fourth International Conference on Financing for Development (FfD4), scheduled for June 30 to July 3, 2025, in Sevilla, Spain, represents a crucial moment in the global push for sustainable development. This event builds upon decades of international efforts to reform financial systems, mobilize resources, and foster economic equality. The need for a fairer, more inclusive financial structure has been a recurring theme in global discussions, with each conference marking significant milestones in shaping the world’s approach to climate action, social justice, and environmental protection.
The Monterrey Consensus (2002): A foundation for global cooperation
The first International Conference on Financing for Development, held in Monterrey, Mexico, in 2002, was a landmark event. It resulted in the Monterrey Consensus, a comprehensive framework that outlined key principles for global economic cooperation. Governments and institutions agreed to:
Mobilise domestic resources for development through stronger economic policies
Encourage international trade as a driver of economic growth
Increase official development assistance (ODA) to support low-income countries
Strengthen the role of international financial institutions in promoting stability and development
Address external debt issues to prevent financial crises in developing nations
This agreement set the stage for deeper financial reforms, making sustainability a key factor in global economic strategies.
The Doha Declaration (2008): Responding to financial instability
The Doha Declaration, adopted during the 2008 conference in Qatar, reaffirmed the commitments of the Monterrey Consensus while addressing new global challenges, particularly the 2008 financial crisis. The declaration called for:
Enhanced transparency in global financial markets
Stronger regulation of financial institutions to prevent future crises
Increased support for developing nations struggling with debt sustainability
Commitments from developed countries to meet their 0.7% GDP target for development aid
Despite these commitments, the economic downturn exposed structural weaknesses in financial systems, underscoring the need for more resilient, long-term solutions.
The Addis Ababa Action Agenda (2015): Linking finance to the SDGs
Held in Ethiopia in 2015, the Third International Conference on Financing for Development resulted in the Addis Ababa Action Agenda (AAAA). This agreement aligned financing strategies directly with the 2030 Agenda for Sustainable Development and the Sustainable Development Goals (SDGs). It introduced new mechanisms for:
Blended finance: combining public and private investments to fund sustainable projects
Tax cooperation: curbing tax evasion and improving domestic revenue collection
Impact investment: directing funds toward projects with clear social and environmental benefits
Green finance: promoting investments in climate action and environmental protection
The AAAA marked a shift from traditional aid-based models to investment-driven solutions, reflecting the evolving nature of global society and its approach to economic equality.
FfD4: Redefining global finance for the future
As the world prepares for FfD4, experts have identified four strategic priorities to ensure meaningful progress:
Integrating development, climate, and nature: Creating a unified approach that connects economic growth with environmental protection.
Mobilising investment-driven models: Shifting from reliance on aid to investment-based development strategies.
Revamping concessional aid: Reforming the structure of international aid to meet contemporary challenges.
Enhancing fiscal space for quality investments: Encouraging policies that promote sustainability and long-term economic stability.
Global collaboration: The role of society and institutions
The global society plays a crucial role in ensuring that financial commitments translate into real progress. Governments, international institutions, and civil society organisations must work together to develop fairer financial systems that support peace and justice, reduce inequality, and create a sustainable future.
As the world gathers in Seville for FfD4, the lessons of the past must guide the path forward. The commitments made at this conference will shape the way global finance contributes to achieving the SDGs, fostering an economy that prioritises justice and strong institutions, economic equality, and environmental protection.
More information: https://financing.desa.un.org/ffd4