FFD4 HIGH-LEVEL SIDE EVENT
Session:
Mobilizing Finance for Sustainable Development
Statement
By
Mr. Claver Gatete
United Nations Under-Secretary-General and
Executive Secretary of ECA
Seville, Spain
30 June 2025
Excellencies,
Distinguished Colleagues,
Partners and Friends,
It is a privilege to join this timely dialogue on mobilizing finance for sustainable development, under the banner of the Fourth International Conference on Financing for Development to reflect on our collective progress and envision a renewed future of development finance.
And the stakes could not be higher.
As we speak, climate shocks are intensifying, debt levels are rising, the geopolitical terrain is volatile, and development financing is tightening at the very moment we need it most.
Moreover, the global SDG financing gap now stands at $4 trillion annually.
For Africa, this shortfall is US$1.3 trillion per year – resources that could enable a just transition, expand healthcare and transform education.
Despite our vast potential, access to affordable, long-term finance remains elusive.
The question remains: why does a continent rich in renewable energy, arable land and human capital continue to struggle for capital at scale?
The answer lies in long-standing structural challenges and a fragmented financing architecture.
At the Economic Commission for Africa, we are advancing practical solutions to bridge this divide.
Allow me to share five priority actions.
First, we must scale innovative financing instruments.
In the Democratic Republic of Congo, ECA is piloting a debt-for-nature-and-industrialization swap – linking debt relief to investment in battery and EV value chains.
These approaches offer a pathway to both fiscal sustainability and green industrialization.
Second, we must support the Sustainable Debt Coalition, which ECA serves as Secretariat.
The Coalition brings countries and partners together to enhance access to climate finance, reduce borrowing costs and strengthen fiscal resilience.
In this regard, we call for broader participation and deeper global support.
Third, we must strengthen country platforms and policy coherence to build investor confidence.
Our African Investment Map is designed to de-risk capital flows and direct investment toward bankable, high-impact projects.
Fourth, we must unlock blended finance at scale.
That means working with DFIs, philanthropic partners and platforms like Convergence to mobilize commercial capital while mitigating risk.
We must also build the pipeline of investable projects.
Fifth, we must deepen domestic financial markets and improve sovereign credit ratings.
We believe it is imperative that Africa builds resilience from within, even as we seek global solidarity.
Excellencies, sustainable development cannot wait.
Thankfully, the solutions exist.
What is needed is the political will, the coordination and the partnership to deliver at scale.
And the Economic Commission for Africa is ever ready to work with you to turn these priorities into impact for our people and our planet.
Thank you.