Deputy Prime Minister Hồ Đức Phớc (second, right) and the Vietnamese delegation attend the FfD4 on June 30 in Seville, Spain. VNA/VNS Photo

HÀ NỘI — Deputy Prime Minister Hồ Đức Phớc led a Vietnamese delegation to attend the opening ceremony of the Fourth International Conference on Financing for Development (FfD4) on June 30 in Seville, Spain.

The event, which runs until July 3, gathered more than 15,000 participants, including nearly 60 heads of state and government leaders, around 100 high-level country representatives, ministerial-level officials and leaders of international organisations such as the World Bank (WB), International Monetary Fund (IMF) and World Trade Organization (WTO), as well as public development banks and representatives from the private sector.

Building on more than two decades of implementing key international commitments, including the 2002 Monterrey Consensus, the 2008 Doha Declaration and the 2015 Addis Ababa Action Agenda, FfD4 marks a pivotal moment in mobilising and efficiently allocating resources for development, while reshaping the governance frameworks for finance at national and global levels.

In his opening remarks, Spanish Prime Minister Pedro Sanchez described the conference as a new journey in financing for development and called for strengthening cooperation in tackling common global challenges. He stressed the importance of improving the effectiveness of financial resource use through the implementation of the Seville Commitment.

Meanwhile, UN Secretary-General Antonio Guterres warned of the risk of not achieving the Sustainable Development Goals (SDGs), with two-thirds of the targets currently off track. He highlighted three priority action areas, including mobilising rapid and broad-based financial flows, addressing unsustainable global debt and increasing the participation of developing countries in global financial governance.

At the opening session, world leaders adopted the Seville Commitment, which aims to establish a comprehensive framework to address current financial challenges, with the goal of mobilising US$4 trillion to support the achievement of the SDGs.

Deputy PM Phớc was scheduled to deliver key remarks at the plenary session and a roundtable discussion on revitalising international development cooperation on July 1.

On the sidelines of the opening session, Deputy PM Phớc met with Armida Salsiah Alisjahbana, UN Under-Secretary-General and Executive Secretary of the UN Economic and Social Commission for Asia and the Pacific (ESCAP), who praised Việt Nam’s socio-economic achievements and its active, responsible role in multilateral frameworks. He reaffirmed Việt Nam's appreciation for the UN’s role, including ESCAP, and called for continued support in accessing concessional finance to implement the SDGs and respond to climate change.

Phớc also held a meeting with Bendito dos Santos Freitas, Minister of Foreign Affairs and Cooperation of Timor-Leste. Congratulating Timor-Leste on its anticipated accession as the 11th member of ASEAN later this year, he proposed that the two countries enhance their practical cooperation, especially in telecommunications, agriculture and education. The foreign minister expressed gratitude for Việt Nam’s support during Timor-Leste’s ASEAN membership bid and confirmed his country's desire to deepen its multifaceted cooperation and friendship with Việt Nam. VNA/VNS