Philippines Represents Developing and Middle-Income Countries in Negotiations on Outcome Document of 4th International Conference on Financing for Development

(Left) Minister Jesus Enrique G. Garcia II negotiating on domestic and international private business and finance on behalf of the Group of 77 and China. (Right) Mr. Dennis B. Bregala negotiating on debt and debt sustainability for the Like-Minded Group for Middle-Income Countries (LMG-MICs).  

NEW YORK 23 June 2025 — The Philippines successfully represented the Group of 77 (G77) and China and the Like-Minded Group for Middle-Income Countries (LMG-MICs) in negotiations on the “Compromiso de Sevilla” – the outcome document of the 4th International Conference on Financing for Development (FFD4) to be held from 30 June to 03 July 2025 in Sevilla, Spain.  The document was adopted by consensus by the Second Committee of the UN General Assembly on 17 June 2025.  

The Philippine Mission to the United Nations Minister Jesus Enrique G. Garcia II, Second Committee Expert, coordinated for the G77 and China the chapter on domestic and international private business and finance. Mr. Dennis B. Bregala, Second Committee Adviser, coordinated for the Like-Minded Group for Middle-Income Countries (LMG-MICs), which the Philippines currently chairs, the chapter on debt and debt sustainability.  

The Compromiso de Sevilla is the new global financing for development framework that will contribute to the achievement of the Sustainable Development Goals (SDGs) over the next decade.  Its precursor, the Addis Ababa Action Agenda (AAAA) was adopted in 2015.

Discussion on the general elements of the document took place during sessions of the Preparatory Committee held in July and December 2024, and February and May 2025.  Line-by-line negotiations on the text were conducted inter-sessionally and spanned the course of several months. 

The Preparatory Committee was co-chaired by the Permanent Representatives of Portugal and Burundi, while the negotiations on the outcome document were co-facilitated by the Permanent Representatives of Zambia, Norway, Nepal, and Mexico.  

Minister Garcia secured language on the need to mobilize additional foreign direct investment (FDI) and private sector resources at scale and speed for developing countries, aligned with national priorities, including in infrastructure and renewable energy, as well as concrete steps to support MSMEs in developing countries through regulatory reform and access to financing. 

In view of the current international context, the Philippines pushed for a text that reaffirms the positive role of migrants and their families, with commitment to reduce the costs of remittances, noting their contributions to sustainable development, while maintaining they cannot be substitutes for official development assistance (ODA) and FDI. 

Mr. Bregala advanced the inclusion of MICs in the debt treatment architecture, noting MICs’ greater share of foreign liabilities arising from higher dependence on debt instruments as a result of their ineligibility for concessional finance due to income categorization.  

The outcome document encourages the expansion of the G20 Common Framework for Debt Treatments beyond the Debt Service Suspension Initiative to MICs. In line with climate and nature risks faced by many MICs, the outcome document also takes into account the debt and climate nexus by incorporating climate and nature action in the debt sustainability assessment of the IMF and the World Bank, as well as considering the work of the Expert Review on Debt, Climate, and Nature. 

The G77 and China is the largest negotiating group in the UN, composed of 134 developing countries.  The LMG-MICS is composed of 19 middle-income countries from all geographic regions. 

The Compromiso de Sevilla will be formally adopted at FFD4 Conference in Sevilla, Spain, to be held on 30 June to 03 July 2025. END

For more information, visit https://www.newyorkpm.dfa.gov.ph, https://www.un.int/philippines  or https://www.facebook.com/PHMissionNY/.