UN Seville Summit on Development Financing Faces US Boycott, Global Aid Cuts
World leaders will gather in sweltering southern Spain next week for a once-in-a-decade UN development financing summit aimed at tackling poverty, disease, and climate change. However, the absence of the United States traditionally the largest aid donor casts a shadow over the event. Washington withdrew over disagreements on lending expansion, tax reforms, and gender terminology.
UN nations aim to close a $4 trillion annual funding gap hindering Sustainable Development Goals. The “Seville Commitment” proposes tripling multilateral lending, debt relief, and reallocating IMF Special Drawing Rights to the poorest nations. Yet critics argue the plan lacks urgency.
The EU joins with reservations, and aid funding continues to decline globally. Over 130 countries now face severe debt levels, with many spending more on repayments than on healthcare or education.
In March, U.S. aid agency USAID saw drastic cuts. The OECD forecasts official development assistance could drop by up to 17% in 2025, with the poorest nations hardest hit.
Despite the challenges, UN leaders stress the importance of holding the line on global commitments and avoiding further backsliding.
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