International Conference on Financing for Development begins in Seville – Minister Tavio to represent Finland

The United Nations’ fourth International Conference on Financing for Development will take place in Seville, Spain, from 30 June to 3 July. The aim of the conference is to reform the international financial architecture for development cooperation and accelerate funding for sustainable development. Minister for Foreign Trade and Development Ville Tavio will represent Finland at the conference.

The Seville conference will focus on reforming the international financial system, addressing financing challenges faced by developing countries, and boosting investment to support the achievement of the UN’s Sustainable Development Goals (SDGs). The financing gap is so vast that public development cooperation alone is not enough, and new tools are needed.  Solutions are also required to tackle the growing debt burden in developing countries.

 “Strengthening the domestic revenue base in developing countries and increasing private investment in emerging markets are key to financing sustainable development. We also emphasise the importance of harnessing digital solutions in developing economies,” says Minister Ville Tavio.

Finland will take an active role in the Seville conference and supports the adoption of the outcome document, which aims at concrete actions to reshape financing for sustainable development.

Focus on strengthening developing countries’ domestic revenue base

Mobilising domestic resources in developing countries is one of the central themes of the Seville conference. Finland will provide support for the 2026–2029 period to the United Nations Development Programme (UNDP) Tax Inspectors Without Borders – Tax for Sustainable Development Goals initiative and to the African Tax Administration Forum (ATAF) to strengthen taxation capacity in developing countries.

Finland’s EUR 7.4 million contribution to UNDP will support public finance management and broadening of the tax base in developing countries. Through ATAF, Finland will provide EUR 8.5 million to support cooperation among tax administrations, as well as work towards expanding the tax base and combating tax evasion in African countries. This work is essential to help countries finance their own development goals in a sustainable way and to reduce reliance on external aid.

Growth potential in unlocking private capital for development

Alongside tax revenue, Finland emphasises the role of private capital in financing sustainable development, and actively works to channel investment into developing markets. Finland uses its development finance strategically to support this goal.

At the conference, Finland will promote the standardisation of blended finance models to help mobilise private investors more effectively. This effort builds on research carried out by Convergence, a blended finance network. The research is supported by Finland.