Millennium Institute at the 4th International Conference on Financing for Development in Seville

The Millennium Institute participated in the 4th International Conference on Financing for Development (FfD4), held in Seville, Spain, 30 June - 3 July 2025. The conference convened United Nations officials, state governments, multilateral development banks, international development agencies, private sector representatives, and accredited NGOs and civil society organizations.

FfD4 aimed to build a renewed global financing framework to unlock greater volumes of capital at lower cost. Through this framework, leaders committed to advancing an SDG investment push and reforming the international financial architecture to enable the transformative changes required to meet global development needs.

After months of negotiations, the conference opened with a draft agreement already prepared. The four-day gathering focused on addressing the more difficult question of how to implement the commitments already made, rather than negotiating new ones.

The agreement itself reflects compromises reached after the United States withdrew over what it described as excessive “red lines.” Developed countries acknowledged the heavy debt burdens carried by many developing nations and recognized the need to reform the financial architecture. However, several developed countries formally “disassociated” themselves from certain provisions, particularly those related to debt relief and climate financing, indicating neither full support nor outright opposition.

Key outcomes of the conference included:

• A commitment to double international support to help countries strengthen domestic tax revenue collection.

• Agreement to create a global playbook for the use of Special Drawing Rights (SDRs) — international reserve assets that countries exchange for hard currency — to improve liquidity for developing economies.

• A call to triple the lending capacity of multilateral development banks, although without specifying the original ambitious timelines proposed.

  
  

United Nations Deputy Secretary-General Amina Mohammed characterized the outcome as a “significant, albeit imperfect, win for multilateralism,” underscoring both the progress made and the complex challenges that remain. The full outcome document, the Sevilla Commitment, is available here.

Through its participation, the Millennium Institute continues to contribute to international efforts that align financial systems with the Sustainable Development Goals, advocating for practical, equitable solutions that support sustainable development globally.