Ready for a turnaround

In December 2023, the United Nations General Assembly finally gave the mandate to convene the 4th International Conference on Financing for Development (FfD4). In a challenging economic and geopolitical environment, high expectations are placed on the conference. On the one hand, ways and means are to be found to mobilize additional funds in order to at least significantly reduce the enormous financing gaps in development and climate action. On the other hand, FfD4 is also intended to be a milestone for the reform of international institutions, i.e. to help make the international financial and trade architecture fit for the
challenges of the present and future. Spain has been nominated to host the conference. The actual world
summit is to take place there in summer 2025. With the first meeting of the organizing committee on 23 February 2024 at the UN headquarters in New York, the preparatory process has entered its hot phase.

In this new briefing paper, Bodo Ellmers and Wolfgang Obenland provide an overview of the Financing for Development process, the challenges for the upcoming 4th FfD conference, the upcoming negotiations and possible or desirable outcomes.