UN conference reaffirms fight against poverty
The US government is sceptical of multilateral cooperation and the UN's sustainable development goals. Consequently, the United States did not endorse the 'Seville Commitment,' which was adopted by 192 countries at the 4th International Conference on Financing for Development in the southern Spanish metropolis on Thursday.
After the start of his second term, Trump had US aid cut by around 80%, which accounts for about a quarter of all global development aid. According to estimates by the United Nations, the funding gap has now grown to at least $4 trillion annually.
This gap was not nearly closed at the conference in Seville, but according to financial expert Bodo Ellmers from the non-governmental organization Global Policy Forum Europe, this was not the primary goal. Instead, he said that structural reforms in areas such as tax cooperation, debt crisis management, or reform of international financial institutions should be agreed upon.
Currently, 3.4 billion people live in countries that have to spend more on interest payments than what remains for education and health.
This reform project was 'only moderately successful' in Seville, Ellmers criticized, saying there are hardly any concrete measures or specific quantitative or time targets included. Whether the funding gap will continue to grow depends on the concrete implementation of the agreements.
German Development Minister Reem Alabali-Radovan nevertheless praised the agreement as a 'powerful boost for a fairer world.' 'Despite the difficult global situation, conflicts, and nationalist tendencies, almost all states are pulling together here,' she stressed. (DPA)
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