IFAD and Spain Set Stage for Seville's Pivotal Financing for Development Conference

Lario highlighted IFAD’s role in providing innovative financial solutions, such as leveraging private sector partnerships and issuing sustainable bonds, to address these challenges.


Devdiscourse News Desk | Madrid | Updated: 14-01-2025 23:49 IST | Created: 14-01-2025 23:49 IST
IFAD and Spain Set Stage for Seville's Pivotal Financing for Development Conference
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Amid rising geopolitical tensions and challenges to multilateralism, Álvaro Lario, President of the United Nations’ International Fund for Agricultural Development (IFAD), met with Spain’s Prime Minister Pedro Sánchez to strategize for the upcoming Fourth United Nations International Conference on Financing for Development (FfD4). The high-stakes conference is scheduled to take place in Seville from June 30 to July 3, 2025.

A decade after the third conference in Addis Ababa, FfD4 will serve as a defining platform to reshape global development financing. Discussions will focus on building a more inclusive and sustainable financial architecture to tackle pressing global issues, such as climate change, inequality, migration, and food insecurity, while fostering cooperation between the Global North and South.

“The world’s most pressing challenges need ambitious and coordinated financial investments—especially to support the poorest and most vulnerable,” stated Álvaro Lario following the meeting at Palacio de la Moncloa.

Lario emphasized that the Seville conference is a critical opportunity to reinforce multilateral solutions amid global instability, adding, “In these turbulent times, solidarity-based agreements at negotiation tables must prevail over brute force on battlefields.”

Key Themes: Tackling Global Challenges with Actionable Solutions

The meeting between Sánchez and Lario focused on the financial commitments needed to address urgent global crises, including:

  • Climate action to mitigate and adapt to environmental changes.
  • Inequality and economic disparity, particularly in rural areas.
  • Migration, with attention to root causes such as poverty and lack of opportunities.
  • Gender gaps in access to resources and decision-making.
  • Debt sustainability for developing nations.

Lario highlighted IFAD’s role in providing innovative financial solutions, such as leveraging private sector partnerships and issuing sustainable bonds, to address these challenges.

Addressing Migration at Its Root

Spain has faced an unprecedented surge in small boats and rafts arriving on its shores, underscoring the urgent need for sustainable development investments in the regions migrants are leaving.

“No fence, wall, or patrol can deter the hope of people seeking a better life. The most effective way to save lives is by investing in the rural areas where these journeys begin,” said Lario. He stressed that empowering rural communities through agriculture and job creation can prevent exploitation and reduce migration.

Spain’s Role as a Leader in Development Cooperation

Spain's Law on Sustainable Development Cooperation and Global Solidarity sets a legal commitment to allocate 0.7% of its Gross National Income (GNI) to Official Development Assistance (ODA) by 2030. This landmark legislation, supported by most Spanish citizens, positions the country as a leader in sustainable development and global solidarity.

Prime Minister Sánchez reiterated Spain's dedication to fostering food security and climate action through multilateralism. Spain's growing economy, coupled with its leadership in hosting FfD4, further cements its role as a pivotal player in shaping global development policies.

IFAD: Driving Rural Development and Financial Innovation

As the only UN agency focused solely on rural development, IFAD continues to demonstrate its ability to create large-scale impact. It is at the forefront of financial innovation, attracting private capital to invest in combating hunger and poverty.

  • Between 2019 and 2021, IFAD-supported initiatives enhanced the incomes of over 77 million people.
  • Through sustainable bonds and partnerships, IFAD has pioneered models that amplify resources for rural communities.
  • With smallholder farmers producing one-third of the world’s food, IFAD’s investments in the “first mile” are critical for global food security.

FfD4: A Global Call to Action

The Seville conference represents a unique moment to advance shared goals under the 2030 Sustainable Development Agenda, emphasizing the need for collective action to address inequalities and build resilience in vulnerable communities.

As Lario concluded, “The FfD4 in Seville is a chance to showcase the power of multilateralism in solving global issues and ensuring no one is left behind. Together, we can build a fairer, more prosperous world.”

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