UN States Finalize ‘Compromiso de Sevilla’ Deal

A coastal community in the Philippines. The UN estimates a global annual development financing gap of $4 trillion.

UN Member States have agreed on the outcome document for the Fourth International Conference on Financing for Development, to be formally adopted at an upcoming summit in Sevilla, Spain — without the participation of the United States, which withdrew from the negotiations and announced it will not attend the conference.

On Tuesday, Member States at UN Headquarters endorsed the finalized outcome document, known as the Compromiso de Sevilla (the Seville Commitment), following months of intensive intergovernmental negotiations.

It is intended as the foundation of a renewed global framework for financing sustainable development, especially amid a widening $4 trillion annual financing gap in developing countries.

A reinvigorated framework
Co-facilitators of the outcome document — Mexico, Nepal, Zambia, and Norway — praised the agreement as an ambitious and balanced compromise that reflects broad support across UN Member States.

“This draft reflects the dedication, perseverance, and constructive engagement of the entire membership,” said Ambassador Alicia Buenrostro Massieu, Deputy Permanent Representative of Mexico.

“Sevilla is not a new agenda. It strengthens what already exists. It renews our commitment to the Addis Ababa Action Agenda and aligns fragmented efforts under a single, reinvigorated framework,” she added.

Nepal’s Ambassador Lok Bahadur Thapa called the outcome a “historic opportunity” to address urgent financing challenges.

“It recognizes the $4 trillion financing gap and launches an ambitious package of reforms and actions to close this gap urgently,” he said, noting commitments to raise tax-to-GDP ratios and improve debt sustainability.

U.S. withdrawal
The agreement came despite sharp divisions over several contentious issues, leading to the United States' decision to exit the process entirely.

“Our commitment to international cooperation and long-term economic development remains steadfast,” said Jonathan Shrier, Acting U.S. Representative to the Economic and Social Council.

“However, the United States regrets that the text before us today does not offer a path to consensus.”

Mr. Shrier criticized the draft for interfering with the governance of international financial institutions, introducing duplicative mechanisms, and failing to align with U.S. priorities on trade, tax, and innovation.

He also objected to proposals calling for tripling multilateral development bank lending capacity and for a UN framework convention on international tax cooperation.

Renewal of trust
Under-Secretary-General for Economic and Social Affairs Li Junhua welcomed the adoption, calling it proof that “multilateralism works and delivers for all.”

He praised Member States for their flexibility and political will in reaching the agreement.

“The FFD4 conference presents a rare opportunity to prove that multilateralism can deliver tangible results. A successful and strong outcome would help rebuild trust and confidence in the multilateral system by establishing a renewed financing framework,” Mr. Li said.