CAIRO, June 3 (MENA) - President Abdel Fattah El Sisi on Tuesday took part via video conference in a high-level meeting held in preparation for the Fourth International Conference on Financing for Development (FfD4), which is scheduled to take place in Spain at the end of June.

According to the official spokesman for the presidency, the high-level meeting aimed to generate political momentum for the upcoming UN conference, a key international event designed to mobilise financing and promote investment in projects that support the achievement of the Sustainable Development Goals (SDGs). The meeting also sought to enhance international cooperation in development finance and address the growing global development gap.

In his address, President Sisi outlined Egypt’s vision for advancing international efforts to finance development. He thanked UN Secretary-General António Guterres for his invitation to attend the meeting, which is being held to mobilise political support and build momentum ahead of the conference scheduled from June 30 to July 3, 2025.

Sisi also expressed his appreciation to Spanish Prime Minister Pedro Sánchez for Spain’s efforts in hosting the event, praising the Spanish government’s preparations and close coordination with the UN Secretariat.

The president noted that the FfD4 is being held at a time of serious global challenges, including rising geopolitical and security tensions, an increase in unilateral and protectionist measures, setbacks in achieving the SDGs, a widening financing gap, and the escalating consequences of climate change. He added that shifts in global trade patterns are further disrupting the world economy, with significant negative impacts on developing nations.

Sisi said that the global community agreed in 2015 on the SDGs as a comprehensive framework to improve the well-being and future of people worldwide. However, he warned that the dangerous expansion of the development and financing gap in recent years could put the 2030 targets out of reach unless immediate and effective action is taken. He called for the conference to produce ambitious and tangible outcomes that reflect a shared political will to accelerate progress on the SDGs.

The president outlined four key issues Egypt hopes will see progress during the conference. First, he called for the development of a roadmap to enhance access to affordable and concessional financing for developing countries. Achieving this, he said, requires addressing existing structural imbalances in the global financial system and strengthening cooperation with development partners.

He added that Egypt hopes the conference will lead to practical steps to continue reforming the international financial architecture and institutions, improve existing financing mechanisms, and introduce new and innovative tools such as debt swaps. He also called for comprehensive frameworks to stimulate private sector investment and link implementation of the Addis Ababa Action Agenda with the SDGs.

Second, Sisi stressed the need to raise ambition in reforming the global debt structure, with specific, actionable steps to address the growing problem of sovereign debt in developing countries. He called for new mechanisms to sustainably manage debt in low- and middle-income countries, which are home to nearly two-thirds of the world’s poor. Failure to deliver tangible outcomes in this area, he warned, could lead to a new global debt crisis and further widen the development gap.

On the third issue, Sisi highlighted the importance of providing necessary technical support and building institutional and human capacities in developing countries. This includes facilitating the transfer of technology and encouraging the use of modern digital tools, such as artificial intelligence, to help those countries make optimal use of their national resources and support their development efforts.

In conclusion, President Sisi emphasized that the success of the FfD4 will depend on the level of ambition reflected in its final outcome document and the inclusion of serious and well-considered measures. He underscored the need for strong political will and a spirit of solidarity and multilateral cooperation to reach fair and practical agreements on unresolved issues, in order to accelerate progress on sustainable development and meet the aspirations of people around the world for a better, more prosperous future.
(MENA)
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