LUSAKA, July 2 — Zambia on Wednesday welcomed the adoption of the Seville Commitment, which outlines a comprehensive framework to tackle the urgent financing challenges impeding sustainable development. The document was adopted on Monday, during the 4th International Conference on Financing for Development held in Seville, Spain. The Seville Commitment lays out critical actions aimed at closing the estimated four trillion U.S. dollars annual financing gap needed to achieve the Sustainable Development Goals. It is expected to significantly influence global development finance over the next decade. In response, Zambian Minister of Foreign Affairs and International Cooperation Mulambo Haimbe said the comprehensive reform of the international financial architecture is needed to make it more inclusive, equitable, and representative. He called for addressing the unjust cost of capital, improving access to affordable finance, and strengthening the voice of developing countries in global governance structures.
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