Latest news with #FourthInternationalConferenceonFinancingforDevelopment
Jordan News
10-07-2025
- Politics
- Jordan News
Just Causes Are Indivisible - Jordan News
In the heart of Seville, Spain—specifically in the Cristina Gardens near the banks of the Guadalquivir River—thousands of representatives from global and Spanish civil society organizations gathered one afternoon at the end of last month, despite temperatures nearing 44°C. اضافة اعلان This gathering was part of the activities accompanying the Fourth International Conference on Financing for Development. As with many major global summits, civil society activists organized a parallel popular march to demand economic justice, debt cancellation, and restructuring of the global financial system. What distinguished this march, however, was not only the familiar slogans for fair development, but the overwhelming presence of Palestine. Palestinian flags waved high, banners called for an end to the genocide in Gaza, and chants denounced the Israeli occupation. Contrary to what one might assume, the demonstrators were not predominantly Arabs or Palestinians; they came from all corners of the globe—Europe, Latin America, Africa, Asia, and North America. Men and women from diverse backgrounds, united not by national or religious ties to Palestine, but by a deep conviction that Palestine represents one of the world's most just causes—and that just causes are indivisible. The march set off from Cristina Gardens, wound through the historic streets of the city, and culminated in Seville's main square, Las Setas, with a massive public rally attended by activists from various fields. A day earlier, during the opening of the Civil Society Forum preceding the official summit, Palestine was also prominently featured in speeches and slogans, receiving wide expressions of solidarity from the international delegations in all languages. This growing wave of solidarity with Palestine is neither fleeting nor symbolic—it reflects a profound shift in global consciousness. Increasingly, people recognize that the Israeli occupation is not merely a complex political issue, but a blatant example of historical injustice and modern-day colonialism. Integrating Palestine into the agenda of global movements for economic, social, and climate justice is a strategic step that connects struggles and amplifies their collective impact. History has shown that global solidarity movements—humanitarian and civil—can create strategic shifts in power dynamics, even in the face of entrenched colonial projects. In the Palestinian context, such movements represent one of the most effective tools to dismantle the colonial Zionist project, which since its inception has relied on policies of ethnic cleansing, forced displacement, and systematic massacres. This project, which continues to draw its false legitimacy and survival from broad Western support, now faces an unprecedented surge in global grassroots solidarity. As this civil and humanitarian campaign expands and pressure on governments and international institutions intensifies, the political and moral isolation of the occupying state becomes not only possible but increasingly imminent—paving the way to break its military arrogance and hold it accountable for its crimes. Here lies the responsibility of Arab and international civil society organizations: to maintain and intensify the momentum of global solidarity campaigns with the Palestinian cause. Neutralizing the military power of the occupation is not limited to halting arms shipments; it also requires exposing its crimes at every forum, launching effective boycott and sanction campaigns, and utilizing traditional and digital media to convey the truth. Through these efforts, a global pressure network can emerge—embarrassing and pressuring the governments that support the occupation and pushing them to change their policies. More importantly, this global struggle is not limited to influencing international public opinion; it directly supports the Palestinians on the ground. Whether in Gaza, Jerusalem, Hebron, or other occupied cities, Palestinians know their voices are echoed in Madrid, Paris, Berlin, Cape Town, Manila, Seville, and hundreds of other cities worldwide. This provides immense psychological and political support and accelerates the isolation and weakening of the occupation. What we are witnessing today is not merely a renewed acknowledgment of the Palestinian cause, but its integration into the fabric of global struggles. Palestine is no longer just "an Arab issue," but the cause of all those who seek a more just, dignified, and free world. Thus, raising Palestinian flags and chanting for Palestine in the streets of Seville and beyond is living proof that the struggle for liberation is far from over—and that just causes are indivisible… and unconquerable.
Bangkok Post
07-07-2025
- Business
- Bangkok Post
Time to invest more in women
The Fourth International Conference on Financing for Development (FfD4) in Seville, which ended on Thursday, has taken place at a time of escalating debt crises, rising poverty, declining food security and proliferating climate-related damage. These crises are all exacerbated by deep reductions in official development assistance (ODA), and they all disproportionately affect women and girls, especially in developing countries. Almost half of humanity -- 3.4 billion people -- now live in countries that direct more revenues toward servicing interest on debt than toward education or health, where a lack of investment directly undermines economic opportunities for women and girls. Moreover, only 5% of ODA goes toward programmes with gender equality as the principal objective. Women's options for improving their own economic circumstances are limited, not least because of limited access to finance. The total finance gap for women-led micro, small- and medium-sized enterprises is an estimated $1.7 trillion. Women running medium-sized enterprises, in particular, struggle to access both venture capital to support growth, and working capital, to support day-to-day operations. Some 740 million women worldwide lack access even to a bank account. Compounding the problem is unequal access to the internet, which is essential for financial and digital literacy. It does not help that women continue to dedicate a disproportionate amount of time to unpaid care work, which, if properly compensated, would add at least $10.8 trillion per year to the global economy. Female labour force participation amounts to just under 47% globally, compared to 72% for men. These problems are set to worsen. For starters, the algorithms underpinning AI tools -- which are being used in a growing range of areas, from assessing creditworthiness to making hiring decisions -- may perpetuate existing biases. Furthermore, many developing economies will struggle to create enough jobs for their burgeoning youth populations: while 1.2 billion people are set to reach working age within the next decade, only 420 million jobs are expected to be created. Young women are more likely than young men to be left out. At the current rate of progress, it will take 134 years to close the global gender pay gap. There is now a large body of evidence showing that everyone loses when women and girls are not given the tools and opportunities to reach their potential. Economies in Sub-Saharan Africa lose $210 billion annually -- more than 10% of the region's total GDP -- as a result of girls leaving school early. Low- and middle-income countries stand to lose $500 billion over the next five years if they fail to close the gender gap in internet access and usage. Studies also show that gender-responsive approaches significantly increase the effectiveness of climate-adaptation finance. All told, investing in gender equality could increase global GDP by more than 20%. FfD4 represents an important opportunity to build a global financial architecture that expands women's access to finance, increases their labour-force participation and contributes to shared prosperity. If done right, this process would harness the energy of young people and make the most of emerging technologies. There is good reason for hope. The FfD4 outcome document (Compromiso de Sevilla), adopted on Monday on the first day of the conference, includes commitments to gender equality and the empowerment of all women and girls, including through poverty eradication, female entrepreneurship and equal access to financial services. But commitments are just the beginning; to deliver real progress, a robust framework for implementation and accountability will be essential. The "Sevilla Platform for Action" -- which will mobilise partnerships among government, civil society organisations and private sector actors to advance concrete initiatives -- is a promising step in this direction. Promising initiatives are already taking shape as part of this platform. One of them -- called Investing in Care for Equality and Prosperity: A Global Initiative to Advance Gender-Responsive Financing for Development -- aims to expand impact investments in care policies, infrastructure and services. For example, partnerships with the private sector would focus on delivering supportive workplace policies and decent working conditions for care workers, and partnerships with financial institutions would drive investment in care infrastructure. This initiative is led by a small group of countries and civil society organisations, and has been endorsed by many more, including our organisation, GWL Voices. Such initiatives have huge potential to advance gender equality. But closing the gender gap will require leaders to apply a gendered lens to policy debates across the board, not least when it comes to finance. And that can happen only if women have a seat at the table. As it stands, women remain woefully underrepresented at the top of international financial institutions and in senior finance-related positions in public institutions. In 2023, only 26 of the International Monetary Fund's 190 members had female finance ministers, and only 23 central banks were led by women (though the total rose to 29 in 2024). Many international financial institutions, finance ministries, and central banks have never had a woman at the helm. The development community must address the structural barriers women face head-on, at FfD4 and beyond. This is not just a moral imperative; it is smart economics. The time to invest in women and girls is now. ©2025 Project Syndicate María Fernanda Espinosa, a former foreign minister of Ecuador and a former president of the UN General Assembly, is Executive Director of GWL Voices and Co-Chair of the Debt Relief for a Green and Inclusive Recovery Project. Anita Bhatia, a member of GWL Voices, is a former deputy executive director of UN Women and a former UN assistant secretary-general.
Business Insider
06-07-2025
- Business
- Business Insider
Egypt secures over $900 million in debt swap deals with Germany, Italy and China
Egypt is strategically leveraging debt swap agreements to alleviate its debt burden and unlock development financing, amid growing calls for global financial system reform. Egypt utilizes debt swap agreements to reduce financial strains and boost development financing. Notable deals include partnerships with Germany, Italy, and China, totaling over $900 million. Challenges like increased external debt and debt servicing costs underlined the need for global reforms. According to the country's Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat, Egypt has signed debt swap deals worth over $900 million with Germany and Italy. Additionally, the country has finalized a pioneering debt swap agreement with China, with the sole purpose of easing the country's financial pressures and supporting its development goals. Al-Mashat made the announcement during a high-level session at the Fourth International Conference on Financing for Development (FfD4) in Spain. The session highlighted the pressing fiscal challenges facing low- and middle-income countries, particularly in Africa. Quoting new figures, Al-Mashat revealed that external debt among these countries increased to $8.8 trillion as of 2023. Consequently, debt servicing costs have surged to $1.4 trillion almost double what they were a decade ago. ' Over 60 percent of low-income countries are now in or near debt distress,' she warned, stressing that without immediate policy shifts, global public debt could rise above 100 percent of GDP by 2030. For many African nations, whose economies are already stretched thin by climate shocks, currency depreciation, and external borrowing costs, she said the figures reflect an urgent need for reform. Egypt seeks improved financing standards The Minister further urged the international community to embrace more adaptable and transparent financing mechanisms. She proposed responsible lending standards, the automatic suspension of debt during crises, and a global platform for sharing expertise on innovative financing instruments like debt swaps. She also pressed multilateral development banks to scale up the use of Special Drawing Rights (SDRs), blended finance, and liquidity tools to support countries tackling climate change and development goals. Egypt's approach could serve as a blueprint for other African nations seeking relief from unsustainable debt while pursuing long-term growth. As global financial talks continue, Cairo's bold strategy underscores the potential of innovation in rewriting Africa's debt narrative.
The Star
04-07-2025
- Business
- The Star
Zambia calls for more equitable share of global investment, trade
LUSAKA, July 4 (Xinhua) -- The Zambian government has expressed concern over the disproportionately low share of foreign direct investment (FDI), capital inflows, and its marginal participation in global trade, according to a statement released on Friday. Minister of Foreign Affairs and International Cooperation Mulambo Haimbe raised the concerns during a side event at the Fourth International Conference on Financing for Development, held in Sevilla, Spain. He said that limited FDI and capital inflows into developing countries have hindered economic growth by increasing borrowing costs and reducing the capacity to meaningfully transform their economies. "The discrepancy in FDIs and other capital inflows into developing countries undermines their ability to effectively address poverty and tackle the socio-economic challenges that have persisted for generations," Haimbe said. He said that institutional investors and FDI should be channeled through strategic partnerships with established domestic enterprises in order to reduce investment risks in developing economies. Despite the challenges, Haimbe expressed optimism that ongoing dialogue with global investors will address the obstacles.
Business Recorder
04-07-2025
- Business
- Business Recorder
Aurangzeb advances strategic partnerships on sidelines of FFD4
ISLAMABAD: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb held a series of high-level bilateral meetings and strategic engagements on the sidelines of the Fourth International Conference on Financing for Development (FFD4), currently under way in Seville, Spain. These meetings were aimed at fostering deeper strategic cooperation with partner countries and institutions across areas such as development finance, trade, climate resilience, and institutional capacity-building, according to press release issued by the Finance Ministry here. The Minister is representing Pakistan at FFD4, as well as in various side events, policy dialogues, and multi-stakeholder round-table discussions. Aurangzeb urges global push to revive development cooperation at FfD4 As part of his bilateral meetings, the minister met with Eelco Heinen, Minister of Finance of the Netherlands, for a detailed bilateral exchange. The meeting focused on further strengthening the long-standing and cordial ties between the two countries, particularly in the domains of trade, development cooperation, climate resilience, and institutional capacity-building. Both sides shared perspectives on enhancing economic engagement, technical collaboration, and the potential for deepening partnerships in areas such as blended finance, climate finance, and digital transformation. The Pakistani side expressed keen interest in leveraging Dutch expertise in agri-tech, water management, and the digitization of public services. Aurangzeb appreciated the Netherlands' continued technical and financial support in diverse sectors, including public financial management, SME development, renewable energy, and climate-smart agriculture. The Dutch Finance Minister reaffirmed his country's support for Pakistan's structural reform agenda and emphasized the importance of policy continuity, transparency, and facilitation of investment flows. Finance Minister Senator Muhammad Aurangzeb also held a detailed meeting with Axel van Trotsenburg, Senior Managing Director of the World Bank, on the sidelines of the Fourth International Conference on Financing for Development. The Minister appreciated the World Bank's continued support for Pakistan's development agenda and shared updates on the successful review of the IMF EFF programme and ongoing reforms under the Resilience and Sustainability Facility (RSF). He also highlighted the launch of Pakistan's National Green Taxonomy, developed with World Bank support, which aims at guiding sustainable investments and is expected to be approved soon. The minister welcomed the World Bank's endorsement of the new 10-year Country Partnership Framework (CPF 2026–2035), which focuses on key areas including child stunting, learning poverty, climate resilience, fiscal space, decarbonization, and private investment. He reaffirmed Pakistan's commitment to closely working with the Bank to deliver on these priorities and achieve lasting development impact. In a separate meeting, he held in-depth discussions with Alvaro Lario, President of the International Fund for Agricultural Development (IFAD), a specialized UN agency focused on rural development and food system transformation. The two sides reviewed the long-standing collaboration between Pakistan and IFAD, which has seen the implementation of 29 projects to date, benefitting approximately 2.8 million rural households. The Minister also acknowledged IFAD's ongoing support through six active projects in Pakistan. The meeting covered a wide range of IFAD-supported initiatives in Pakistan, including policy support, vocational training, community infrastructure, access to finance, climate-smart agriculture, value chain development, and resilience against climate shocks. The Minister expressed Pakistan's appreciation for IFAD's efforts in supporting poverty reduction and sustainable rural development. Additionally, the minister met with John W H Denton AO, Secretary-General of the International Chamber of Commerce (ICC). The two sides discussed avenues for enhanced cooperation in trade facilitation, SME development, investment promotion, and the role of the ICC in supporting Pakistan's economic transformation. Particular emphasis was placed on private sector engagement, international best practices, and institutional capacity building to unlock new opportunities for sustainable growth and inclusive development in Pakistan. These bilateral interactions reflect Pakistan's commitment to expanding international partnerships, promoting development finance, and advancing its economic reform and resilience agenda in alignment with global sustainable development goals, the statement added.
