António Guterres has appealed to Clarion, noting that sustainable development powered by international cooperation, is now confronted with “massive opposite winds”.

Approach the opening session of 4^th Development financing conference (FFD4) In hot cooking Seville, Spain – lounging with record temperatures of June – the Secretary general Multilateralism itself also feels heat, while confidence between nations and institutions collapse.

The world is on fire, shaken by inequalities, climate chaos and raging conflicts: “Funding is the engine of development and at the moment, this motor spans“He said at the conference, which have attended more than 50 world leaders, more than 150 nations and around 15,000 delegates.

“While we meet, the 2030 agenda For sustainable development – Our global promise to transform our world for a better and fairer future – is in danger. “”

Some two -thirds of the ambitious Sustainable development objectives (ODD) The objectives agreed in 2015 are considerably off track – hence the amazing investments of 4 billions of dollars necessary to overthrow it.

“We are here in Seville to change CAP. To repair and revise the development engine to accelerate investments at scale and at the speed required, ”said Mr. Guterres.

He described the result known as Seville engagement Adopted on Monday-without the United States which has withdrawn from the process earlier this month-as a “global promise” to low-income nations to raise them on a development scale.

The UN chief described three key areas of action:

• First of all, Resources that flow quickly At home to stimulate sustainable growth and for richer countries, to honor their commitment under the agreement to double poor countries to stimulate development. This includes the tripling of the loan capacity of multilateral development banks and Innovative solutions To unlock private money.
• Second, repair the Global debt system “unsustainable, unfair and unaffordable”. Currently, the poorer countries spend about 1.4 billion of dollars which is useless of their vast debts in the form of payments of interest. Among the innovations, a new Borrower forum will ensure the resolution and action of the fairer debt.
• Third, Reform global financial architectureWith the main shareholders playing their role, so that it strengthens all countries. “We need a global tax system more right shaped by all, not just a few.”

The current affordability and development crisis is “a crisis of people,” he continued, which leaves hungry families, non-vaccinated children and girls left out of education.

“This conference does not concern charity. It is a question of restoring justice and facilitating the ability of all people to live in dignity, “said Mr. Guterres.

“” This conference is not a matter of money – these are investments in the future that we want to build together. “”

A tangible and usable roadmap

King Felipe of Spain spoke just before the official opening, telling the delegates that the Multicultural City of Seville welcomes the world “with open arms”.

He said that a new roadmap would emerge which is based on what is “concrete and tangible and usable”.

The conference must be a success, because Cooperation is one of our fundamental pillars of the multilateral world and “the ultimate achievement mode of values ​​that support it – Especially at this particular moment in history when many certainties are based and many fears and uncertainties take shape. “”

“Our time is now”

The Spanish president Pedro Sánchez told the delegates “Our time is now and our place is there. Millions of lives will depend on the choices made in Seville and in the future.

We must choose “ambition rather than paralysis, solidarity on indifference and courage rather than convenience”, ” He continued, adding that the eyes of the world are in this room, to see what we are ready to do together and facing this historical challenge, we must prove our value. »»

Seville was “the New York of 16^th Century ”In diplomatic terms, he told delegates – and a cradle of globalism – we must all make this justice inherited today.

“Seville is not a final point”

Secretary General of the Conference, Li Junhua – which is in charge of the Department of Economic and Social Affairs (Desa) – said the week in Seville is a key moment to mobilize the resources necessary to build a fair, inclusive and sustainable future.

The United Nations effort to finance development has been anchored in multilateralism and solidarity – but today, the whole framework is under “deep stress”.

He said that sustainable development has never been so tested, but the pact made in Seville puts people at the center.

“” Seville is not a final point, it is a launch ramp for a new era of implementation, responsibility and solidarity. Undesa is ready to support all nations to translate commitment into international action, he said.

The president of the United Nations General Assembly, Philémon Yang, mainly told the delegates: “We need leadership to guide the world forward in the brighter future more prosperous for everyone, everywhere. “”

He said the SEVILLA’s executive will renew the global partnership for the decade in advance and will focus on a debt burden that paralyzes the developing world.

President of the UN Economic and social council Bob Rae said that confidence between countries should be reinforced because his absence “creates chaos”.

“Above all, I want to congratulate the States for having advanced the ambition, deepening the commitment between financial institutions.”

The week represents a real commitment to action, he said.

Ajay Banga, president of the World Bank group, said that the delegates ending poverty remain its key mission and that the sharp increase in the current population in developing countries requires resources “on an unprecedented scale and rhythm. “”

He said everyone knew that governments, philanthropies and institutions are unable to respond to each projection or promise – which is why the private sector is essential to the Seville agreement so that capital can circulate.

Banga added that in recent years bank reforms are to be a better partner in the private sector and government customers.

Improving response time, capital increase and growth systems is essential – but it takes much more to deliver for the next generation.

Exempt the least developed from punishing prices: WTO

Ngozi Okonjo-Iweala, director general of the World Trade Organization, said the conference met at a time of unprecedented difficulty.

After decades of positive contributions, the global trade system has now been “seriously disrupted”, leaving exports so hampered by unilateral tariff measures and political uncertainty that the WTO has greatly degraded growth forecasts.

Other tariff obstacles on July 9 – the deadline established by the US administration – will only increase the contraction of world trade.

She recalled that the WTO pleaded for the least developed nations and in Africa in all the prices, ” We can therefore better integrate them into the global trading system, and not exclude them more. “”

She said that the Seville agreement rightly recognizes International trade as a development engine.

“We must therefore strengthen stability and predictability in world trade”, through several levels which can develop national resources through exports, she told delegates.

The IMF provides a wider tax plate

Nigel Clarke, Deputy Managing Director of the International Monetary Fund (IMF), called to expand the tax base, to create solid financial management systems, to coordinate support and to resolve debt more sustainably.

“Many countries continue to combat high interest costs,” he said, calling on the international community to improve debt restructuring processes.

Thanks to its development of capacity, the fund is equivalent to members to trace their own path and also provides financial support when they need it, he added.

From the increase in debt and investment in narrowing to the aid financing crisis and the difficulties in achieving ambitious development objectives, the global financial system fails to the people it is supposed to serve: this is the challenge to which the world leaders are united in the stifling southern southern jewel this week, because the 4th of the UN UN International Conference on Development Financing takes place. Follow our Live meetings cover below; Application users can take all the action of the opening day here And you will find all the related stories on our special dedicated page here.