Prime Minister Aziz Akhannouch arrived in Seville, Spain, on Sunday to represent King Mohammed VI at the fourth international conference on financing development, organized under the auspices of the United Nations.
Akhannouch participated in an official dinner hosted by King Felipe VI and Queen Letizia in honor of the heads of state and government attending this international conference, which kicks off on Monday and runs until July 3.
The Prime Minister is accompanied by a Moroccan delegation that includes Minister of Economy and Finance Nadia Fettah, Morocco’s Permanent Representative to the United Nations Ambassador Omar Hilale, and the Kingdom’s Ambassador to Spain Karima Benyaich.
Around 70 heads of state and government are participating in this international event, alongside 4,000 representatives from civil society organizations, international financial institutions, and the private sector, highlighting the significant political and economic stakes of this global meeting.
The conference, taking place at a time when developing countries face unprecedented financial pressures, aims to address an annual financing gap estimated at $4 trillion, which has increased by $1.5 trillion compared to a decade ago, according to UN Secretary-General António Guterres.
Participants seek to make this conference an opportunity to reform the international financial system, which Guterres described as “ineffective,” and to accelerate the implementation of the Sustainable Development Goals of the 2030 Agenda.
An outcome document titled the “Seville Commitment” is expected to be issued from the conference, calling for better representation of Southern countries in global financial bodies and increasing the lending capacity of development banks threefold, in addition to enhancing international cooperation to combat tax evasion.
