Changes from report parliamentary committee draft to plenary report

Change 15

AddedEXPLANATORY STATEMENT

Added4th International Conference on Financing for Development

AddedUnderfunding for the Sustainable Development Goals (SDGs) has become chronic. According to the United Nations, the total financing requirement amounts to an additional 4 000 billion dollars a year.

AddedOfficial Development Aid represents only a tiny percentage of the overall amount required to achieve SDGs.

AddedThe Seville conference will be an opportunity to respond to this huge challenge. An international order shaken by political, security and environmental crises and significant geopolitical tensions give the 4th Conference on Financing for Development a new perspective.

AddedAdded to this, the withdrawal of a major player, USAID, has thrown into doubt the finalisation and completion of ongoing projects and programmes. And it does not bode well as far as the US contribution to the programming of new programmes is concerned.

AddedDeveloping countries are therefore facing increasingly worrying levels of debt. The problem, like so many others, is now becoming structural.

AddedThe Seville conference will be a stress test for all development actors, and in particular for the European Union.

AddedFor the Member States first of all, most of whom are far from meeting their ODA financing target as renewed in 2015 in Addis Ababa. Some Member States have not only failed to meet their ODA target of 0.7% of Gross National Income (GNI), but have even reduced their aid volume.

AddedThis is also a challenge for the development financing architecture, which was designed to create a favourable environment for mobilising the private sector.

AddedIt is also a great responsibility for the Commission, tasked with coordinating the 28 EU development actors, i.e. the 27 Member States plus the Commission itself.

AddedLess in terms of capital contributions but primarily as contributors to partnership actions. Moreover, we should not forget CSOs as important vehicles for delivering cooperation and development, because of their expertise and the way they raise public awareness.

AddedAs the US has already lost credibility on the issue of development, we need to rethink our own development action.

AddedAs Europeans we can do more and better. We can do more by meeting the commitments we have already made. And we can do better by constantly devising ways of ensuring the link between our action and human development in our relations with our partners in the South.