We, the undersigned civil society organisations and individuals, urge European leaders to commit to a transformative and ambitious agenda of financial architecture reform at the Fourth International Conference on Financing for Development (FfD4), taking place in Sevilla, Spain in mid-2025.
FfD4 is a pivotal moment for Europe to commit to equitable global economic governance and reforms that are needed to tackle the deep inequality and environmental crises which drive and exacerbate grave problems today and tomorrow. The consequences of the current system are felt across generations.
Critical reforms include how countries deal with the vicious circle of sovereign debt; the development of a fair and inclusive system of international tax cooperation; and the strengthening of development cooperation. Public finance continues to have a proven and distinct role in the achievement of the Sustainable Development Goals (SDGs), the eradication of hunger and poverty, in gender equality and the fight against climate change.
The Financing for Development conference is the only space where global economic and financial matters are discussed in a transparent and inclusive manner and where all countries participate on an equal footing. FfD4, therefore, has the potential to bring fairness and justice into global economic governance.
It is also the first time an FfD conference has taken place on European soil. This gives Europe the opportunity to play a role in reinvigorating trust and cooperation into a rulesbased multilateral order. The success of the conference is a matter of Europe’s reputation and a test of its value-driven approach to engaging with the rest of the world.
In January 2025, a civil society letter addressed to European leaders provided a list of key policy demands regarding FfD4. We welcome the openness to dialogue that has been demonstrated in meetings with civil society ever since. We also welcome the reiteration of European support for the Financing for Development process, demonstrated during the meeting of the European Council and the UN Secretary General on 20 March in Brussels.
At the same time, we are concerned by the lack of visible positive change in the European position in the negotiations of the Conference’s outcome. Instead of backing proposals for more democratic decision-making on global economic issues, European countries have so far opposed any meaningful reform, defending an unfair and dysfunctional status quo and limiting the European offer to using scarce public resources to leverage private finance. Indeed, the official EU position and conduct in the negotiations on the road to Sevilla are highly problematic. While the EU supports ambitious development goals and stands for gender equity and human rights, it blocks the actual means of implementation that are needed to achieve these goals.
In a world where only 17 per cent of the SDGs have been achieved, with only five years to their deadline, this cannot be the European approach to accelerate action. The Sevilla conference is the last chance to fill the SDG financing gap through meaningful structural reforms. It must not be wasted.
Europe must play its part in a multilateral system that contributes to fair and democratic global economic governance. This would reflect the poverty eradication objective of Article 208 of the Lisbon Treaty.
Aligning with progressive voices calling for meaningful reforms to global economic governance in the negotiations leading up to Sevilla is not only the right thing to do. It will also strengthen Europe’s geopolitical standing. It is an unprecedented strategic opportunity and we call on you - European leaders - to seize it.
Download the full letter and the list of signatories below.