Heads of state and government leaders are convening to enhance development funding amid OECD forecasts predicting a decline of 9% to 17% for 2025. Despite this, Mathias Cormann expresses optimism and presents concrete strategies in Seville to increase resources and improve debt conditions for vulnerable countries. He emphasizes the importance of effective fund allocation and leveraging private sector involvement. The OECD remains committed to multilateralism, aiming for collaborative efforts to address the challenges of development funding at this significant summit in Seville.
This means, and our data clearly shows this, that we need to make every dollar count. We've got to make sure that the money really hits the ground in the most effective way possible and that we leverage it as much as possible to draw in additional private resources.
It's an incredibly important summit, and Spain wants Seville to be a kind of launching pad for measures, commitments, and decisions. At the OECD, we are fully committed to multilateralism; we need to continue working together to the best of our ability to tackle all the challenges posed by development funding.
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