Many of the world's nations are gathering starting Monday in Spain for a high-level conference to tackle the growing gap between rich and poor nations and try to drum up trillions of dollars needed to close it. The United States, previously a major contributor, pulled its participation, so finding funding will be tough.
The four-day Financing for Development meeting in the southern city of Seville is taking place as many countries face escalating debt burdens, declining investments, decreasing international aid and increasing trade barriers .
The United Nations and Spain, the conference co-hosts, believe it is an opportunity to reverse the downward spiral, close the staggering 4 trillion annual financing gap to promote development, bring millions of people out of poverty and help achieve the U.N.'s wide-ranging and badly lagging Sustainable Development Goals for 2030.
U.N. Deputy Secretary-General Amina Mohammed said Wednesday that despite "the headwinds" and high geopolitical tensions, there is hope the world can address one of the most important global challenges - ensuring all people have access to food, health care, education and water.
"This conference is an appeal to action," Spain's U.N. Ambassador Hector Gomez Hernandez said, "and we have the extraordinary opportunity to send a very strong message to defend the international community's commitment to multilateralism."