The leaders from numerous countries convened in the Andalusian city of Seville on Monday to address the widening disparity between wealthy and developing nations and to rally support for raising trillions of dollars needed to bridge that divide. Notably absent from the gathering was the United States.
Over 70 heads of state and other delegates are to attend the UN’s 4th International Conference on Financing for Development (‘FFD4’) running from 30 June until 3 July in Seville – and have unanimously endorsed the Seville Commitment, which had been finalised ahead of the summit. The agreement commits participants to launching ‘an ambitious package of reforms and actions to close the financing gap with urgency’.
The summit is taking place amid mounting challenges: growing national debts, shrinking foreign investment, falling levels of international aid, and the rise of trade barriers. Despite these obstacles, there remains optimism that the global community can tackle one of humanity’s most pressing issues — ensuring universal access to essentials like food, healthcare, education and clean water.
‘Financing is the engine of development. And right now, this engine is sputtering,’ said United Nations Secretary-General Antonio Guterres during his opening speech at the conference, which is co-hosted by the UN and Spain.
According to the organisers, the summit presents an opportunity to address the staggering $4 trillion annual funding gap needed to drive development, lift millions out of poverty, and accelerate progress toward the UN’s Sustainable Development Goals, which are significantly behind schedule for the 2030 target.
In addition to world leaders, participants from international financial institutions, development banks, philanthropic groups, private enterprises and civil society organisations will also attend the summit, which has many parallel conferences and events.
‘This summit allows us to raise our voice against those who argue that rivalry and competition should define humanity’s future,’ Spain’s Prime Minister Pedro Sánchez told attendees.
However, the United States has chosen not to participate. At the final preparatory session on 17 June, the US rejected the negotiated outcome document — the product of months of talks among the UN’s 193 member states — and announced its withdrawal from both the process and the Seville conference.
Calling the US decision ‘unfortunate’, UN Deputy Secretary-General Amina Mohammed said last week that after the Seville summit, ‘we will engage again with the US and hope that we can make the case that they be part of the success of pulling millions of people out of poverty’.
Meanwhile, the European Union and France made it clear they would not be discouraged by what they view as an American shift toward unilateralism.
‘Collective mobilisation can still work,’ said French President Emmanuel Macron on Monday.
European Commission President Ursula von der Leyen stressed the EU’s ongoing dedication to development financing, stating, ‘Our commitment is here to stay.’
The Seville Commitment includes several key proposals: ensuring countries collect tax revenues equivalent to at least 15% of their GDP to boost public resources, tripling the lending capacity of multilateral development banks, and enhancing private sector investments in critical sectors such as infrastructure by offering incentives. It also recommends reforms aimed at helping countries better manage their growing debt burdens.
UN trade chief Rebeca Grynspan recently warned that ‘development is going backward’, pointing to an escalating global debt crisis.
Historically, the United States had been the largest single contributor to foreign aid, until the Trump administration dismantled the US Agency for International Development (USAID) and drastically reduced foreign assistance, arguing that it was wasteful and inconsistent with the administration’s priorities.
Other Western nations have similarly scaled back their foreign aid commitments in recent years.
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👉Por un mundo más justo, más igualitario, más verde, más inclusivo y más sostenible.#FFD4 pic.twitter.com/bNMsnAJxcK
— La Moncloa (@desdelamoncloa) June 30, 2025
El Rey, junto al presidente de la República Francesa, Emmanuel Macron, en el Palacio de Exposiciones y Congresos de Sevilla (FIBES) con motivo de la “IV Conferencia Internacional sobre la Financiación para el Desarrollo” de Naciones Unidas.
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— Casa de S.M. el Rey (@CasaReal) June 30, 2025
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