Released by UN Department of Economic and Social Affairs (DESA), it highlights role of Sevilla Commitment to reverse current trends in financing for development. 

Key Issues Highlighted

• Fragility in global economy: Challenging macroeconomic situation with significant downside risks. 
  • Low per capita income (one in four developing countries have it below 2019 level); protected conflict in Middle East causing impact on energy prices, trade, etc. 
• Financing Squeeze: Many developing countries face high borrowing costs and heightened rollover risk; Only Marginal increase in Tax revenue in developing countries in past two decades, etc. 
• More Fragmented World: Affecting international financial and development cooperation architecture in cross-border payment system, e.g., emergence of alternatives to Society for Worldwide Interbank Financial Telecommunication (SWIFT), etc. 

Priority Actions and Recommendations

• Scaling Financing: Close estimated $4 trillion SDG financing and investment gap through strengthening domestic private sectors, supporting diversification, etc. 
• Aligning finance with  Sustainable Development Outcomes: Ensuring quality, impact, and alignment with country-owned strategies on both private and public finances. 
• Strengthening Resilience:  Building stronger domestic institutions and integrating climate and disaster risk considerations into financial instruments.
• Multi-layered approach to Cooperation:  Stronger linkages between national development banks, regional and multilateral institutions, etc. 
• Role of Multilateralism: Predictable, rules-based international system to lower risks, foster investment, etc.