Adopted in Sevilla, Spain in July 2025, the Compromiso de Sevilla renews the global Financing for Development (FfD) framework, building on the 2015 Addis Ababa Action Agenda, the 2002 Monterrey Consensus, and the 2008 Doha Declaration. It sets out a package of reforms and commitments across domestic public finance, private capital mobilization, official development assistance (ODA), international trade, sovereign debt, and the international financial architecture—intended to close the estimated $4 trillion annual sustainable development financing gap facing developing countries.

Key takeaways:

• Domestic resource mobilization: Commitments to strengthen tax systems, broaden tax bases, address undeclared income and wealth, and improve public financial management (PFM), including through independent supreme audit institutions. Developed countries are called to double support for developing countries’ domestic revenue mobilization by 2030, targeting tax-to-GDP ratios of at least 15%.
• International tax cooperation and illicit financial flows (IFFs): Continued engagement on a UN Framework Convention on International Tax Cooperation, implementation of OECD/G20 Pillar Two (a global minimum corporate tax), beneficial ownership transparency, and stronger enforcement of the UN Convention against Corruption (UNCAC), including asset recovery mechanisms.
• Private capital mobilization: Scaling up blended finance, guarantees, first-loss capital, and local-currency lending instruments to de-risk investment and improve MSME (micro, small and medium enterprise) access to finance; a target to reduce remittance transfer costs to below 3% by 2030.
• Multilateral development banks (MDBs): A call to potentially triple annual MDB lending capacity, implement the G20 Capital Adequacy Framework recommendations, and expand use of hybrid capital and Special Drawing Rights (SDR) rechanneling.
• Sovereign debt architecture: New mechanisms proposed, including a consolidated global debt data registry (housed at the World Bank), a borrower countries’ platform, and state-contingent debt clauses (e.g., climate-resilient and debt-pause clauses) to make restructuring more predictable, timely, and equitable.
• Trade and value chains: Reaffirmed support for the WTO-centered multilateral trading system, LDC trade preferences (duty-free/quota-free access), and local value addition for critical minerals and commodities.
• Governance and accountability: Broader representation of developing countries in IMF/World Bank governance structures, alongside a new biennial review cycle at the ECOSOC Financing for Development Forum to monitor implementation.