The 4th International Conference on Financing for Development (FfD4) in Seville, Spain, organised by the United Nations, was convened for revitalising financing for sustainable development across the globe.
But the meeting took place in the face of severe headwinds. The United States was absent, having made its intentions clear by severely cutting aid commitments and several major economies, including the United Kingdom, France and Germany, also announced aid reductions.
Clear indications are that the Seville Conference will instead rely on mobilising private investment, blended finance and public-private partnerships, which have not historically yielded great results.
Non profit ActionAid’s Secretary General, Arthur Larok, speaking…