The United Nations hosted its first-ever Biennial Development Finance Summit, marking a historic step in global efforts to accelerate progress toward the 2030 Sustainable Development Goals (SDGs). UN Secretary-General António Guterres emphasized that the summit is unprecedented, highlighting its significance as more than just a regular meeting.
The summit was attended by top political leaders, international institutions, and officials representing the G7, G20, and the upcoming COP30 UN climate conference. The primary focus was on addressing the challenges in development finance that hinder progress toward achieving the SDGs.
Guterres described the summit as an example of “networked, inclusive multilateralism in practice.” He noted that he had proposed the summit in 2021, and it was later recognized in the previous year’s Pact for the Future Agreement as a key mechanism for reforming international financial systems.
The event was designed to serve as a platform to foster coherence, ambition, inclusivity, and actionable solutions, aiming to align stakeholders in mobilizing development finance effectively to meet global sustainability targets.
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