Source: European Parliament
A 4-Member DEVE delegation will travel to the 4th Financing for Development Conference (FfD4) in Seville, from Monday 30th June to Wednesday 2nd July. The purpose of the delegation is to exchange views with all stakeholders, to provide political stimulus for far-reaching reforms of the international financial architecture, to help put financing for development on a more solid foundation, and to send a message in support of the parliamentary dimension of democracy and of multilateralism.
FfD4 follows on from the Third International Conference on Financing for Development in Addis Ababa in 2015. It provides a unique opportunity to reform financing for development at all levels, be it reform of the international financial architecture, debt relief, taxation, domestic resource mobilisation, private sector financing, and others. The conference is timely, as there is a strong sense of urgency to take action: the SDGs are grossly underfinanced (the financing gap stands now at over 4 trillion USD annually), and at the same time cuts in ODA are being envisaged or already implemented in many donor countries. Conferences such as FfD4 are the only spaces where leaders from all governments, along with international and regional organisations, financial and trade institutions, businesses, civil society and the UN System unite at the highest levels, to foster stronger international cooperation.