In the hot Seville of July 2025, the FIBES Conference Centre hosted a key international meeting: the IV International Conference on Financing for Development (FFD4). During four intense days, leaders and representatives from more than 150 countries debated how to reduce the enormous financial gap that separates the current reality from the Sustainable Development Goals (SDGs). The absence of the United States was notable, although this did not prevent important agreements from being reached.
The Spanish president, Pedro Sánchez, opened the event with a call to strengthen international cooperation and presented the "Seville Commitment", an ambitious document that includes more than 130 proposals to close the annual gap of four trillion dollars in financing. Among these initiatives were measures such as the creation of a debt swap centre under the coordination of the World Bank, solidarity taxes for large fortunes and a decisive push towards the issuance of green bonds.
In parallel, Spain launched the 'Seville Plan', a project designed to strengthen the multilateral system, including tangible commitments such as allocating 0.7% of Spanish GDP to development aid by 2030, opening a UN House in Madrid and mobilising more than 1.54 billion euros towards global health, climate change and human rights.
In addition, the Spain-Africa Strategy 2025-2028, which seeks to redefine the relationship with the African continent through mutual respect and effective cooperation, was presented with particular enthusiasm. This strategy focuses on promoting inclusive development, strengthening diplomatic ties, regional stability and generating stronger cultural ties.
However, in the informal talks, there was no shortage of critical voices. Civil society organisations expressed their discontent, pointing to the need for even more courageous and transformative measures, especially on such crucial issues as African debt restructuring.
For their part, African leaders were firm and clear in their messages. Kenyan President William Ruto denounced an "unjust and inequitable" global financial structure, calling for urgent reforms. In the same vein, Senegalese President Bassirou Diomaye Faye stressed the importance of mobilising domestic resources for sustainable and sovereign growth. Abdoulaye Maïga, Prime Minister of Mali, called for more ambitious international support to achieve the SDGs, warning of the urgency of the moment.
The response from international organisations was not long in coming. The WHO called for improved health autonomy in Africa, while the OECD proposed concrete measures to strengthen tax collection and reduce foreign currency indebtedness. The general consensus was that there was an urgent need to create more transparent and fairer mechanisms to renegotiate debt.
Personally, I had the opportunity and privilege to experience this historic conference live, being part of the Canarian delegation organised by the INCOLAB cluster, with the strong support of PROEXCA, CEOE Tenerife and the Chamber of Commerce of Santa Cruz de Tenerife, together with companies such as Vizcaíno Arquitectura, Grupo Innovaris, CODEXCA and EMV. During those intense days I attended more than fifteen conferences of the highest level, sharing ideas and perspectives with international leaders and key representatives.
The FFD4 in Seville has opened a window of opportunity towards a fairer international financial system. Even with all the challenges that lie ahead, this event lays the foundations for renewed international cooperation, in which the Canary Islands also makes a decisive contribution.