Albares calls on countries to fulfil the objective of 0.7% of GDP for Official Development Assistance

In his address in the general debate at the major event being held in Seville, the minister recalled that Spain has already incorporated this objective in its Law on Cooperation, a law in which Spain reaffirms the multi-dimensional nature of sustainable development and advocates for development metrics to include indicators beyond Gross Domestic Product.

At the same time, Albares acknowledged that, while ODA has been and continues to be essential, it will be insufficient on its own. Accordingly, he argued in favour of mobilising national resources and the contribution of the private sector, and to strengthen the agenda of effectiveness and the localisation of funding in order to improve the impact of our actions.

With respect to the mobilisation of domestic public resources, Albares recognised that we must redouble our support for progressive tax systems and for the fight against illicit financial flows. He also reaffirmed Spain's commitment to greater international tax cooperation.

All these matters are set forth in the ‘Sevilla Commitment’, the final document of the Conference. It also sets out measures to enhance debt sustainability and to strengthen the financial safety net, the representativeness of international financial institutions and the potential of trade, along with technology and innovation, as engines of sustainable development. 

The minister also explained that, in Seville, Spain is seeking to foster a collective commitment to achieve gender equality in the decision-making bodies of international financial institutions and multilateral development banks, and to integrate a robust gender perspective in all financing mechanisms.

In addition, Albares emphasised that for such advances to materialise a monitoring mechanism will be crucial to ensure accountability and the effective implementation of the actions and commitments undertaken. 

To do so, the minister stated that Spain can be counted on in this collective effort to implement the Sevilla Commitment, the road map for the future we have taken on to renew the global financing for development framework and contribute, ultimately, to a more equitable and sustainable world.

Minister Albares completed the intense agenda of the day with an address at the side event Spain-OECD-UNCTAD held under the title ‘Beyond GDP: Rethinking Finance for Sustainable Development’. Another side event that Albares inaugurated was ‘Financing the Localisation of the SDGs’, where the minister pointed to the need to ‘mobilise more resources and use them in the most effective manner possible'; while he brought to an end a special event on global health, where he proclaimed that we need a ‘renewed vision, a collective commitment and a road map that can lead us towards sustainable, equitable and better coordinated health financing’.

Albares also had to opportunity to accompany the President of the Government, Pedro Sánchez, in presenting the Global Health Action Initiative in coordination with the WHO, Gavi and the Global Fund.