Latest news with #FfD4
Morocco World
7 hours ago
- Business
- Morocco World
Morocco to Join Global Leaders at UN Development Finance Summit in Seville
Tangier — Morocco is taking part in a major United Nations conference on development financing from June 30 to July 3 in Seville, Spain. Heads of international states and governments will attend the UN conference alongside global economic and social leaders, aiming to strengthen multilateral cooperation systems and improve their financial structures. The 4th International Conference on Financing for Development (FfD4) aims to provide a platform to create a renewed global financing framework that unlocks larger amounts of capital for development at lower costs. Participants are set to examine how to reform the international financial architecture to better serve developing nations. UN Secretary-General António Guterres and Spanish Prime Minister Pedro Sánchez will inaugurate the summit, which is set to focus on strengthening multilateral cooperation systems and improving their financial structures. Key goals and initiatives The conference will launch the Seville Platform for Action, mobilizing coalitions of countries and stakeholders to address common sustainable development challenges through joint initiatives. Building on the 2015 Addis Ababa Action Agenda and 2024 Pact for the Future, the summit will accentuate the role of international cooperation in financing global development needs. Organizers have planned over 370 events covering multilateral development financing, including sessions on domestic resource mobilization, private sector engagement, and development cooperation effectiveness. The gathering brings together governments, international organizations, financial institutions, businesses, and civil society representatives. The Organization for Economic Co-operation and Development (OECD) participates actively in the Seville Conference as a long-standing partner in international development financing systems. The OECD plays an active role, contributing data and analysis to inform discussions about transparency and accountability in development financing. The organization participates in 25 platform initiatives and more than 40 side events. This conference represents a critical moment for reshaping how the world finances sustainable development and addresses global challenges through improved international cooperation. Morocco's participation reflects the country's broader vision to enhance its development strategies via financial policies. Tags: Development financeFfD4MoroccoUnited Nations
Mint
3 days ago
- Business
- Mint
India ranks among top 100 nations for first time in achieving Sustainable Development Goals
India ranked among the top 100 nations out of 167 countries for its progress in achieving the Sustainable Development Goals (SDGs), reported the news agency PTI, citing UN Sustainable Development Solutions Network's 10th and latest Sustainable Development Report (SDR) published on Tuesday, 24 June 2025. According to the agency report, India secured the 99th rank on the SDG Index 2025, with a score of 67, while other nations like China ranked 49th with a 74.4 score, and the United States at 44th rank with a 75.2 point score. The previous data shows that India ranked as the 109th nation for achieving the Sustainable Development Goals in 2024. Over the years, the nation has improved its ranking in the list. The Sustainable Development Goals (SDGs) are global goals which were imposed by the United Nations in 2015, in order for countries to work towards the idea of saving the planet. According to the report, the ultimate goal is to leave no one behind in the overall development matrix by 2030. The report also flagged that the SDG progress has stalled at the global level, with only 17 per cent of the 17 targets projected to be achieved by 2030. 'Conflicts, structural vulnerabilities and limited fiscal space impede SDG progress in many parts of the world,' said economist Jeffrey Sachs in the report, cited by the news agency. Neighbouring nations like Bhutan ranked at the 74th place with 70.5 points, Nepal at the 85th rank with 68.6 points, Bangladesh at 114th place with 63.9 points, and Pakistan at 140th rank with 57 points, according to the news report. Others like the Maldives and Sri Lanka ranked 53rd and 93rd in the Sustainable Development Goals (SDGs) achievements report. European nations like the Nordic countries continue to rank at the top of the SDG Index 2025, with Finland leading the charge at the top, followed by Sweden and Denmark. A total of 19 nations from the top 20 in the ranking list are from Europe, as per the report. The report comes ahead of the fourth International Conference on Financing for Development (FfD4) in Seville, Spain. The event is set to be hosted between 30 June 2025 and 3 July 2025, according to the news report. 'Money flows readily to rich countries and not to the emerging and developing economies (EMDEs) that offer higher growth potential and rates of return. At the top of the agenda at FfD4 is the need to reform the GFA so that capital flows in far larger sums to the EMDEs,' according to the report cited by the news agency.
Bahrain This Week
4 days ago
- Business
- Bahrain This Week
Infracorp Unveils Bahrain's First Sustainable Sukuk at UN Workshop
Infracorp, a leading specialised company in investing in the infrastructure and sustainable development sector, has announced its participation in a United Nations workshop recently held in Bahrain to highlight the Kingdom's contribution to global efforts in financing sustainable development. The company presented its pioneering experience in issuing Bahrain's first sustainable sukuk. Infracorp took part in a panel discussion entitled 'Innovative Financing Instruments: SDG-Linked Bonds and Sukuk'. Ms. Zeeba Askar, Chief Sustainability and Investment Officer at Infracorp, delivered a presentation titled 'Bahrain's First Sustainable Sukuk'. She outlined the company's transition from green sukuk to a broader sustainable sukuk framework in line with international trends for financing projects with environmental and social impact. Ms. Askar confirmed that Infracorp's sustainable sukuk framework is fully aligned with the ICMA's Green, Social and Sustainability Bond Principles, supports Bahrain's Economic Vision 2030 and is consistent with the United Nations SDGs. She added that the framework's governance is underpinned by an independent, accredited external opinion to ensure transparency and credibility. The company has mapped key performance indicators, adopted a rigorous project-selection mechanism based on expected outcomes, and issues regular reports to measure each project's environmental and social impact. Commenting on the occasion, Ms Askar said: 'Our objective went beyond issuing a conventional finance instrument; it was about setting a standard for what a Sustainable Sukuk should represent. We carefully built a framework aligned with Bahrain's Economic Vision 2030 and the UN Sustainable Development Goals, with measurable KPIs mapped across every eligible project. The result is a Sukuk rooted in transparency, governed by rigor, and driven by real-world impact.' The workshop highlighted Bahrain's leading efforts in development finance, including Islamic finance, SDG-linked bonds and the fintech sector, ahead of the fourth International Conference on Financing for Development (FfD4), scheduled to take place in Seville, Spain, from June 30 to July 3, 2025. It brought together UN officials, public-sector representatives and private-sector partners to discuss the Kingdom's participation in the conference. FfD4 will serve as a pivotal platform to assess progress on global commitments to finance sustainable development and to address challenges that have emerged since the adoption of the Addis Ababa Action Agenda in 2015. The conference will gather high-level representatives from governments, international and regional organisations, financial and commercial institutions, the private sector, civil society and the United Nations system.
The South African
20-06-2025
- Business
- The South African
Global Citizen Summit in Spain: SA actress to take the stage
Global Citizen has announced that its flagship summit, Global Citizen NOW, will take place on June 29, 2025, at CaixaForum Sevilla in Spain. This summit will also feature our very own Nomazamo Mbatha as the host The summit has been scheduled to take place ahead of the UN's Fourth International Conference on Financing for Development (FfD4). A focus on reshaping global financial systems, promoting sustainable debt relief, and accelerating investment in renewable energy across Africa and Latin America. The event will be hosted by South African actress and humanitarian Nomzamo Mbatha and will see high-level speakers deliberate. These include Pedro Sánchez (President of Spain), Ursula von der Leyen (President of the European Commission), Mia Mottley (Prime Minister of Barbados), Gaston Browne (Prime Minister of Antigua and Barbuda), Mark Suzman (CEO of the Gates Foundation), and Maria Fernanda Espinosa (former UN General Assembly President), and many others This summit is being held in partnership with the Spanish Government. Intensive discussions and focused panels will place an emphasis on transformational development finance and renewable energy investment, particularly in underserved regions. Another focus of the summit will be the Scaling Up Renewables in Africa campaign. This is supported by von der Leyen and South African President Cyril Ramaphosa, in collaboration with the International Energy Agency. This campaign is aimed at tripling renewable energy capacity by 2030, as well as creating 500 000 jobs in the energy field. This particular initiative also hopes to provide electricity access to 600 million Africans. The pledging conference is scheduled for November 2025 during the G20 Summit. Leaders like Sánchez and Mottley have called for urgent reform of the global financial architecture to meet today's challenges. Global Citizen CEO Hugh Evans emphasized the need for 'radical efficiency' to end extreme poverty. Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 11. Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
The Herald
20-06-2025
- Business
- The Herald
Global Citizen summit targets finance reform, renewable energy scale-up
Global Citizen, the world's leading advocacy organisation dedicated to ending extreme poverty, has announced that its flagship action summit, Global Citizen NOW, will take place at CaixaForum Sevilla in Spain on June 29. The event will convene ahead of the UN's Fourth International Conference on Financing for Development (FfD4). Hosted in partnership with the Spanish government, the summit will gather leaders across sectors to drive ambitious action on poverty and the climate crisis. The summit will serve as a strategic catalyst and global platform to shape the action coming out of FfD4 and advance an ambitious agenda for financing reform and international co-operation. It will feature dynamic high-level panels and highlight the urgent need for investments in renewable energy across Africa and transformative investments in development finance. Pedro Sánchez, President of Spain, said the UN's FfD4 is a critical opportunity that could not be more timely. 'World leaders need to work together within the multilateral framework to reshape the global financial architecture so it works for everyone, especially the world's most vulnerable. 'Spain is proud to co-host Global Citizen NOW: Sevilla to drive bold, co-ordinated action to tackle the world's biggest challenges and mobilise ambitious initiatives for sustainable development,' said Sánchez. The summit will serve as a key moment in Global Citizen's year-long s caling up renewables in Africa campaign, in partnership with European Commission President Ursula von der Leyen and President Cyril Ramaphosa, with policy support from the International Energy Agency. The campaign aims to secure commitments from governments, the private sector and multilateral banks towards tripling renewable energy capacity by 2030, support the creation of 500,000 new energy jobs, and address the unmet energy needs of 600-million people who don't have electricity on the continent. It will culminate in a pledging conference in November alongside the G20 summit. 'Our global financial system was not designed to meet today's challenges. It must evolve to reflect the realities of a world in crisis,' said Prime Minister Mia Amor Mottley of Barbados. Mottley said from unsustainable debt burdens to the escalating climate emergency, too many nations are being asked to do more with less. 'The Global Citizen NOW: Sevilla summit is a vital platform to champion equitable financing, accelerate renewable energy transitions across Africa and SIDS, and advance the systemic reforms our world urgently needs. Now is the time for co-operation and decisive action for people and planet,' she said. Co-Founder and CEO of Global Citizen Hugh Evans said Global Citizen NOW: Sevilla will showcase international co-operation at a time when the world so urgently needs it. 'The future of financing global development demands radical efficiency, as we need to do more with less to deliver the impact that is needed to end extreme poverty around the world,' Evans said. The summit will be hosted by Nomzamo Mbatha, actress, humanitarian and Global Citizen ambassador. Previous editions of Global Citizen NOW have been held in New York, Melbourne and Rio de Janeiro. Later this year, the summit series is expected to expand its global footprint and also head to Detroit, Michigan, Belém, Brazil and Johannesburg. TimesLIVE
