UN chief calls on world leaders to close USD 4 trillion financing gap facing developing countries to meet sustainable development goals

Sevilla [Spain], July 1(ANI/WAM): “We’re here in Sevilla to change course," the UN chief told world leaders on Monday, calling on them to grasp a once-in-a-decade opportunity to close a USD 4 trillion financing gap facing developing countries to meet sustainable development goals – and build a better world for all.

Antonio Guterres issued his clarion call, noting that sustainable development, powered by international cooperation, is now facing “massive headwinds."

Addressing the opening session of the 4th Financing for Development Conference (FFD4) in baking hot Sevilla, Spain – basking in record high June temperatures – the Secretary-General noted multilateralism itself is also feeling the heat, while trust between nations and institutions frays.

The world is on fire, shaken by inequalities, climate chaos and raging conflicts: “Financing is the engine of development and right now, this engine is sputtering," he told the conference, attended by close to 60 world leaders, over 150 nations and around 15,000 delegates.

“As we meet, the 2030 Agenda for Sustainable Development – our global promise to transform our world for a better, fairer future – is in danger."

Some two-thirds of the ambitious Sustainable Development Goals (SDGs) targets agreed in 2015 are significantly off track – hence the staggering USD 4 trillion investment needed to turn it around.

“We are here in Sevilla to change course. To repair and rev up the engine of development to accelerate investment at the scale and speed required," said Guterres.

He described the outcome known as the Sevilla Commitment, adopted on Monday, without the United States, which pulled out of the process earlier this month, as a “global promise" to low-income nations to lift them up the development ladder. (ANI/WAM)

(The story has come from a syndicated feed and has not been edited by the Tribune Staff.)

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