Usi during the roundtable discussion in Seville today.—Picture courtesy of Malawi Government
* Malawi would like to see advanced human capital expertise in the private and public sector to enhance capacity building
* All countries are operating in difficult environments but financing partners must not forget the positive outcomes of supporting programmes which have a spill over effect on human capital development
Maravi Express
Vice-President Michael Usi has called for development partners to critically consider investing and financing initiatives that support human capital development, especially in the health sector.
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Usi is quoted by Malawi Government official Facebook page as making the call today at a roundtable discussion on advancing the Commission on the Future of Development Finance organised by the Gates Foundation, and Devex.
This was on the sidelines of the 4th International Conference on Financing for Development (FfD4) taking place in Seville, Spain — which was opened by Spain Prime Minister Pedro Sanches Perez-Castejon.
At the roundtable Usi is reported to have said “Malawi would like to see advanced human capital expertise in the private and public sector to enhance capacity building”.
He is further reported to have “recognised that all countries are operating in difficult environments but financing partners must not forget the positive outcomes of supporting programmes which have a spill over effect on human capital development”.
“He highlighted that in Malawi, organisations like the Global Fund, have supported HIV programmes, thereby saving many lives.
“For this to be possible, there should be enablers in commission. The people have to have good health. The health sector should not be excluded because it can make or break progress we have made.”
The Vice-President is expected to make his national statement and make commitment to prioritising areas that align with the conference theme ‘Financing Our Future’.
Meanwhile, the FfD4 was opened with the adoption of the Sevilla Commitment or Compromiso de Sevilla, an intergovernmentally negotiated outcome that lays the foundation for a renewed global framework for financing development.
A report by uneca.org says commitments include steps to close the US$4 trillion financing gap for the Sustainable Development Goals (SDGs); address the debt crises and reform the rules of the system to make the international financial system fairer and more transparent, putting people’s needs at the center, and injecting new hope for people around the world.
“We are here in Sevilla to change course — to repair and rev-up the engine of development to accelerate investment at the scale and speed required — and to restore a measure of fairness and justice for all,” said United Nations.
UN Secretary General António Guterres
On his part, Prime Minister Pedro Sánchez said: “The Sevilla Commitment document is a global promise to fix how the world supports countries as they climb the development ladder.
“It is time to take a step forward and not only reaffirm our commitment but redouble it. We must improve debt sustainability, ensure fiscal justice, and fulfill our commitments to international cooperation.
The FfD4, which was opened in the presence of the King of Spain, His Majesty Felipe VI, has drawn more than 15,000 attendees, including close to 60 Heads of State and Government, ministerial-level representatives, heads of international organizations, such as the World Bank, the International Monetary Fund and the World Trade Organisation, public development banks, private sector organizations and civil society representatives.
“Alongside the plenaries and multi-stakeholder roundtables, more than 470 special and side events are also taking place during the Conference period,” reports uneca.org.
“FfD4 builds on the momentum of the Pact for the Future, adopted by world leaders in September 2024, where countries agreed to boost investment in the SDGs, address the growing debt burdens of developing countries and accelerate long-overdue reforms to the global financial architecture.
“Signaling a new phase of collective action on financing for development, coalitions of countries and diverse stakeholders will announce ambitious initiatives and concrete solutions under the Sevilla Platform for Action that will boost the renewed financing framework and set out a turning point from dialogue to delivery.”
Sevilla Platform for Action
“Coalitions of countries and stakeholders have put forward more than 130 high-impact initiatives in the Sevilla Platform for Action, to begin implementation of the Sevilla Commitment or Compromiso de Sevilla on day one.
“These initiatives complement the renewed global financing framework adopted by world leaders and will help deliver tangible progress to finance our future, across the three main sets of commitments of the Compromiso — to catalyse investments at scale, address debt challenges, and support reforms for a transparent and fair architecture.
International Business Forum
“Held alongside FfD4, the International Business Forum brings CEOs and prominent global business leaders together with Heads of State and Ministers to drive solutions that unlock private finance and investments for sustainable development.
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“Organised by the FfD4 Business Steering Committee, the forum aims to strengthen collaborations and co-create solutions for sustainable investment.
The 4th FfD4 is building on the foundations laid by the Monterrey Consensus (2002), Doha Declaration (2008), and Addis Ababa Action Agenda (2015), as well as the Pact for the Future adopted at the UN last September.
“Rising debt burdens, falling investment, and shrinking aid are among the financing challenges confronting the world today,” reports uneca.org. “With progress on the SDGs off track and rising systemic risks, including due to climate change and conflicts, the Conference provides a once-in-a-decade opportunity to mobilise finance at scale and reform the rules of the system to put people’s needs at the centre.”
