Seville: The King of Spain, Felipe VI, urged participants at the 4th International Conference on Financing for Development (FFD4) in Seville on Monday to commit to development. The monarch, who opened FFD4, which runs until Thursday and attended by the President of the African Union, Joo Louren§o, said that ‘we owe this to the generation of our parents, grandparents, children, grandchildren, and all those who do not have the voice and energy to cry out for a better and fairer world.’ The King added that sustainable development is a cause that must never be abandoned.
According to Angola Press News Agency, Pedro S¡nchez, the Prime Minister of Spain and President of the conference, considered the estimated funding gap of four trillion US dollars to achieve sustainable development to be an injustice. Sanchez considered the conference an opportunity to change course and raise our voices against those who seek to convince others that rivalry and competition define the future of humanity. He said that the time has come to take a step forward in a world where the donor community is shrinking dramatically and called for improved debt sustainability, guaranteed tax justice, development aid, strengthened financial architecture, and trust. The Spanish head of government warned that ‘there is no North or South, but only one humanity.’
The 4th International Conference on Financing for Development aims to redefine the financing system, including support for the reform of the international financial architecture. Another purpose of the forum is to find solutions to better address the financial challenges that hinder investment in infrastructure, education, health, and mitigation of the negative effects of climate change, in order to achieve the Sustainable Development Goals.