The Philippines played a leading role at the Fourth International Conference on Financing for Development in Spain, shaping the Compromiso de Sevilla for sustainable global growth.
SEVILLE — The Philippines joined world leaders and key stakeholders at the Fourth International Conference on Financing for Development (FfD4) held from 30 June to 3 July 2025 in Seville, Spain. Organised by the United Nations in partnership with the Kingdom of Spain, the summit gathered governments, financial institutions, businesses and civil society to address challenges hindering the achievement of the 2030 Sustainable Development Goals.
Led by Hon. Joven Z. Balbosa of the Department of Finance Undersecretary for the International Finance Group, the Philippine delegation included officials from the Department of Foreign Affairs, the Embassy in Madrid, the Permanent Mission to the UN in New York. The Philippines actively contributed to drafting the outcome document — the Compromiso de Sevilla — which will guide a renewed global framework for financing sustainable development.
As one of the Conference’s Vice Presidents, the Philippines presided over plenary sessions and advocated reforms to the international financial architecture to ensure fairer representation for developing countries. Undersecretary Balbosa underscored the importance of building capacity in science, technology, and digital infrastructure to bridge the global financing gap, which now exceeds $4 trillion annually for developing nations.
The Philippines highlighted the need to strengthen multilateralism amidst rising debt burdens and limited access to inclusive development financing. The delegation also hosted five side-events covering migration, remittances, innovative financing and green financing, and public markets.
Source: Republic of the Philippines, Department of Foreign Affairs
