UN conference cites Egypt’s ‘NWFE’ programme as model for development finance

The final declaration of a United Nations conference has cited Egypt’s country platform for the ‘NWFE’ program as a model for a new generation of platforms and innovative tools to reform the global financial architecture.

The declaration, issued following the 4th International Conference on Financing for Development (FFD4) in Seville, Spain, was part of the “Seville Pledge,” the first internationally agreed development financing pledge since 2015. The pledge aims to close a $4 trillion gap in financing for the Sustainable Development Goals and calls for a restructuring of the global financial system amid escalating debt crises and declining investment.

The conference launched 130 initiatives under the “Seville Platform for Action (SPA)” to stimulate large-scale investment, address debt and development crises, and reform global finance.

Rania Al-Mashat, Egypt’s Minister of Planning, Economic Development, and International Cooperation, said the NWFE program, launched in 2022, anticipated global calls for platforms that integrate development and climate action.

The final declaration of a United Nations conference has cited Egypt’s country platform for the ‘NWFE’ program as a model for a new generation of platforms and innovative tools to reform the global financial architecture.