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The Sevilla Commitment: A Vital Step to Rebuild Trust in Global Cooperation (UNOG - United Nations Office at Geneva)

ANDALUSIA, SPAIN, JUL 3 – The Sevilla Commitment, endorsed by 192 countries, outlines 130 initiatives to mobilize $4 trillion annually for sustainable development through investment, debt reforms, and financial system changes.

  • Civil society groups in Seville urged the U.N. to cancel debt in poorer nations and promote climate justice, citing this as a response to historical injustices from the Global North to the Global South.
  • Rebeca Grynspan, the Secretary of UNCTAD, described the Seville Commitment as 'a strong document' that offers 'more practical solutions' for better implementation of economic justice goals.
  • Civil society organizations criticized the Seville Commitment, arguing it fails to address the ambitious reforms needed to tackle global systemic crises, especially those related to the Global North's decision-making power.
  • The U.N. plans to establish a borrower countries platform to support economic reforms, acknowledging the ongoing debt crisis and aiming to improve negotiation terms without threatening market stability.
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The Secretary-General of UN Trade and Development (UNCTAD), Rebeca Grynspan, welcomed, in a conversation with the President of the EFE Agency, Miguel Ángel Oliver, the road map drawn up during the Fourth International Conference on Financing for Development (the so-called Seville Commitment), which she sees as "a good document", with "more landed solutions" that will allow a "better implementation". Grynspan explained that the meeting, which has…

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The European Sting - Critical News & Insights on European Politics, Economy, Foreign Affairs, Busine broke the news in on Thursday, July 3, 2025.
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