UN tackles global finance crisis at Sevilla conference
A photo/Manuel Elías
Remarks are delivered after the UN and Spanish flags are raised at the Financing for Development Conference in Sevilla.
From rising debt and shrinking investment, to the aid funding crisis and struggles to meet enterprising development goals, the global financial system is failing the people it’s supposed to serve: fixing that is the challenge facing world leaders gathered in Spain’s sweltering southern jewel of Sevilla this week, as the UN’s 4th International Conference on Financing for Development gets underway. Follow our live Meetings Coverage below; app users can catch all the action from the opening session here and you’ll find all related stories on our special dedicated page right here.
One delegate was heard saying: “We need systemic change,not just incremental adjustments.“
Frequently Asked Questions
- What is Financing for development?
- Financing for Development (FfD) is a united Nations-led process focused on mobilizing financial resources to achieve the Sustainable Development Goals (SDGs).
- Why is Financing for Development critically important?
- It addresses critical funding gaps that hinder progress on sustainable development,including poverty reduction,climate action,and access to healthcare and education.
- What are the main challenges in Financing for Development?
- Key challenges include insufficient Official Development Assistance (ODA),rising debt levels in developing countries,and the need for innovative financing mechanisms.
