<h6><strong>Eduardo González</strong></h6> <h4><strong>The State Secretary for International Cooperation, Eva Granados, warned this Monday in Brussels, ahead of the European Foreign Affairs Council (FAC) meeting on its Development side, that the European Union must "redefine" its development cooperation system following US President Donald Trump's decision to suspend all US aid abroad.</strong></h4> According to Granados, the meeting comes at a "complicated time for cooperation," amid "a reduction in support for official development assistance and a situation in which multilateralism is being questioned" following the US decision to suspend foreign aid, which has put enormous pressure on global development funding and is the main cause of "the upheaval the world is experiencing with regard to humanitarian aid and development cooperation." In these circumstances, she warned, "Europe has a major role to play" because it is "the world's largest donor, if we combine the Commission's resources with those of the Member States." Therefore, in matters such as official development assistance, the international financial architecture, trade, development cooperation, and technology, it is necessary "for Europe to emerge as a reliable partner, as an accountable partner and, above all, one that addresses the demands of the Global South." It is an "important moment for Europe to also be part of the redefinition of development cooperation and international relations within the framework of solidarity and shared interests," she insisted. "In this sense," she emphasized, "Spain is advocating for strengthened cooperation that unites interests, but above all, the values of the European Union" because "the world changes, but the values of the European Union do not change, and therefore, we must remain strong as a reliable partner and with robust cooperation." “It's clear that we can't cover everything the United States is leaving behind,” because “official development assistance, not just from the United States, is declining; it's been seven percent in the last year,” she warned. Under these circumstances, “the countries that invest in development aid, and Spain increased it by twelve percent, are the most legitimate to redefine and rethink the system we have now.” <h5><strong>Seville Conference</strong></h5> Furthermore, the Brussels FAC for Development is meeting one month before the Fourth International Conference on Financing for Development, which will be held from June 30 to July 3, 2025, in Seville. Among other topics, the urgent need to fully implement the Sustainable Development Goals (SDGs) and the ongoing reform of the international financial system will be addressed. In this regard, Eva Granados emphasized that the Conference comes "at a time when the Sustainable Development Goals have a low level of achievement" and, therefore, it is necessary to "establish positions on multilateral solidarity." "There is a lot at stake in Seville," she warned. The IV International Conference on Financing for Development (FfD4), an event that has been mentioned almost systematically in all international meetings and statements by the Spanish government since its announcement in July 2024, will have as its main objective the mobilization of funds for the 2030 Agenda. The first three conferences were held in Monterrey in 2002, in Doha in 2008, and in Addis Ababa in 2015. The Seville Conference was already discussed during the last informal meeting of the Development Cooperation officials of the 27 EU Member States, held on February 10 and 11 in Warsaw within the framework of the Polish Presidency of the EU Council, which was also attended by Eva Granados. <h5><strong>Conclusions of the FAC</strong></h5> At its meeting this Monday in Brussels, the Council of the European Union adopted its conclusions on how to strengthen the impact of financing for sustainable development and global prosperity, in the context of the preparations for the Seville Conference. In these conclusions, the Council advocates mobilizing resources from all sources, both public and private, and implementing structural reforms to enable progress towards achieving the Sustainable Development Goals. The Council strongly supported the holding of this conference, considering it a decisive opportunity to accelerate collective action towards a renewed global framework for financing sustainable development. The Council's text recognizes that, since the last conference in Addis Ababa, the financing gap has widened significantly, reaching nearly $4 trillion annually over the past five years, reinforcing the urgency of taking further action. In a complex international context, marked by the proliferation of conflicts and rising geopolitical tensions, the Council warned about the impact of this uncertainty on multilateral cooperation and confidence in the international financial system. Against this backdrop, it underscored the need for structural reforms leading to a more inclusive, efficient, and representative international financial architecture, including greater participation and voice for developing countries in decision-making. The conclusions reaffirm the commitment of the EU and its Member States to key international frameworks, such as the Compact for the Future, the 2030 Agenda and its Sustainable Development Goals (SDGs), as well as the Paris Agreement. The Council emphasized that eradicating poverty in all its forms and dimensions, especially extreme poverty, remains the greatest global challenge and an indispensable condition for sustainable development. The importance of mobilizing resources from all sources, public and private, both domestic and international, was also highlighted, effectively utilizing innovative instruments such as green and blue bonds, guarantees, public-private investment funds, and triangular cooperation mechanisms. In this regard, the key role of official development assistance (ODA) was reaffirmed, especially in sectors that are unattractive to private investment. The need to improve tax governance through fair and effective international tax cooperation, combat illicit financial flows, and strengthen institutional capacities in partner countries was also underscored. The Council also supported the use of measures of progress beyond GDP, such as the Multidimensional Vulnerability Index, which can more accurately reflect the economic and social realities of developing countries. The Council emphasized the critical role of the Multilateral Development Banks (MDBs) and international financial institutions in promoting development and urged rapid implementation of the G20 roadmap for “better, bigger, and more effective” MDBs. Furthermore, it reaffirmed its support for the International Monetary Fund (IMF) as a central pillar of the global financial safety net, highlighting European leadership in channeling Special Drawing Rights (SDRs) into sustainability and poverty reduction funds. The Council emphasized that financing for development must be coherent, inclusive, effective, and more efficient, and must involve all relevant actors: governments, financial institutions, the private sector, civil society, and multilateral organizations.
