On financing for development – ahead of the Fourth International Conference on Financing for Development in Seville
A-10-2025-0101
Committee on Development · Rapporteur: Charles Goerens
- Voted on · Rejected 282–340–26 · See the decision →
- Full procedure 2025/2004
Written by a language model from the full text only; every figure comes from the text. The paragraph links open the paragraph a statement rests on — check the text itself before relying on it.
Parliament's resolution on financing for development ahead of the FfD4 in Seville calls for reforming the international financial architecture, addressing debt, boosting ODA, and enhancing tax cooperation.¶¶¶ It urges the EU to lead by example, increase development finance, and ensure policy coherence, while stressing the need for private finance and support for vulnerable groups.¶¶¶
Committee position. The Committee on Development proposes a resolution calling for comprehensive reform of global financial architecture, debt relief, increased ODA, and stronger tax cooperation ahead of the FfD4.¶¶¶
Key points
- Calls for structural reform of the international financial architecture to democratise development cooperation and ensure equal power sharing, supporting gender equality.¶
- Urges the EU and Member States to increase development efforts and improve credibility as a reliable partner.¶
- Reiterates that EU development policy must follow the 2030 Agenda, Paris Agreement, and Addis Ababa Action Agenda, with a human rights-based approach.¶
- Calls for a fair and efficient multilateral debt work-out mechanism and stresses the importance of domestic resource mobilisation.¶
- Demands that at least 93% of EU development expenditure meets ODA criteria, 85% of new actions have gender equality as principal or significant objective, and 5% as principal objective.¶
- Urges the EU to work towards mobilising USD 1.3 trillion per year by 2035 for development cooperation, as per the Baku-Belem roadmap.¶
- Calls for exploring innovative financing mechanisms, including taxes on sectors benefiting from globalisation, to finance global public goods.¶
- Calls for a UN Framework Convention on Sovereign Debt and urges the EU to support it, ensuring fair burden-sharing among creditors.¶
- Urges the EU and Member States to increase grant-based climate finance, especially for adaptation in least developed countries and small island states.¶
- Calls for increasing MDB financing power and including state-contingent clauses in all public lenders' contracts.¶¶
- Urges the EU to engage in adopting a UN Treaty on Business and Human Rights and to support a global beneficial ownership registry.¶¶
- Calls for urgent action to meet the 0.7% ODA target and to devote 15% of ODA to education by 2030.¶¶
Who is affected
- Developing countries, especially least developed and fragile states, will benefit from debt relief and increased grant-based finance.¶¶
- Multinational enterprises face calls for a global minimum tax rate of 15% and a UN tax convention.¶¶
- Women's rights organisations and women-led groups are targeted for increased funding and gender equality in development.¶¶
- Civil society organisations, including churches and faith-based groups, are recognised as key partners and need guidelines.¶
- Private investors and companies are encouraged to invest in developing countries, with safeguards for local benefits.¶¶
Figures and deadlines
- USD 1.3 trillion per year by 2035 for development cooperation, as per the Baku-Belem roadmap.¶
- At least 93% of EU development expenditure must meet ODA criteria.¶
- 85% of new actions should have gender equality as principal or significant objective, and 5% as principal objective.
- 0.7% of GNI as ODA target, with 0.15% and 0.20% for LDCs.¶¶
- 15% of ODA to education by 2030.¶
- Global minimum corporate tax rate of 15% for multinational enterprises.¶
- USD 154 billion to at least USD 384 billion per year by 2025 for nature-based solutions.¶
Legal basis: Article 208 TFEU and Article 21(2) TEU¶