António Guterres, Secretary-General of the United Nations launch the Sevilla Platform for Action to respond the global development crisis that threaten people and planet alike. UN Chief emphasized the 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 reviving again through new domestic and global commitments that can channel public and private finance to the areas of greatest need. This platform contains more than 130 specific initiatives that demonstrate that we can achieve by working together: governments, private sector, partners international institutions and civil society groups.
- Together teaming up to launch high impact initiatives to bring Sevilla commitment to live.
- By overhauling the world’s approach to making borrowing work in service of sustainable development.
- By reforming the global financial architecture to reflect today’s realities and the urgent needs of developing countries.
- This includes a global hub for depth swaps at the World Bank as part of a broader facility aimed at relieving liquidity constraints and lowering the cost of borrowing
- Adapt 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 the commission to explore the future of development cooperation.
- In December, I appointed a group of experts on depth who today are announcing 11 immediately actionable proposals to help resolve the depth crisis.
- To establish a borrower’s forum for countries to learn from one another.
- To coordinate their approaches in debt management and restructuring.
The Sevilla platform is critical and significant during a world of division conflict and economic uncertainty. It offers an ambitious action-oriented response to the global financial challenge and provides a springboard toward a more inclusive and sustainable world for all countries. Above all it proves that progress and change are possible if we work together.
Related link:
Launch of the Sevilla Platform for Action – UN Chief remarks | #FFD4 | United Nations
11 Proposals to end the vicious cycle of the debt crisis | UNCTAD
