Addis Ababa — Claver Gatete, Executive Secretary of the United Nations Economic Commission for Africa (ECA), has called for a transition from rhetoric to action, urging the development of financial instruments that reflect Africa’s real development priorities.
Speaking at a high-level side event during the Fourth International Conference on Financing for Development (FfD4) in Seville, Spain, Gatete emphasized that while African nations are piloting their own innovative solutions, global financial systems must evolve to support these efforts more effectively.
“Innovative financing instruments are no longer optional — they are essential,” said Gatete. He noted that the current global financial architecture continues to restrict Africa’s access to affordable capital, despite the continent’s immense investment potential and urgent development challenges.
Gatete stressed the importance of country platforms—mechanisms that align national development goals, improve inter-ministerial coordination, and ensure the transparency needed to attract sustainable, long-term investments.
“Unlocking private finance requires more than good ideas. It requires trust, coherence, and credible institutions,” he added.
The event was jointly hosted by the five UN regional commissions—ECA (Africa), ECE (Europe), ECLAC (Latin America & the Caribbean), ESCAP (Asia-Pacific), and ESCWA (Western Asia)—as part of a broader effort to advocate for regional approaches to global development finance challenges.
Their collective policy brief, titled "Road to Seville", outlines recommendations in five key areas:
- Domestic resource mobilization
- Debt sustainability
- Global economic governance
- International cooperation
- Private sector finance
The message from Seville is clear: Africa’s financial future requires both global reform and regional innovation—with solutions grounded in trust, transparency, and true alignment with the continent’s priorities.
Addis Ababa, July 1, 2025 (ENA) – Executive Secretary of the UN Economic Commission for Africa (ECA), Claver Gatete, has called for a shift from rhetoric to results, urging the creation of financial instruments that genuinely reflect Africa’s development needs.
Speaking at a joint side event hosted by the UN’s five regional commissions during the Fourth International Conference on Financing for Development (FfD4) in Seville, Spain, Gatete noted that while African countries are already piloting innovative solutions, global financing systems must evolve to meet the continent’s realities.
"Innovative financing instruments are no longer optional—they are essential," Gatete emphasized. He added that the current global financial architecture continues to limit Africa’s access to affordable finance, despite its significant investment potential and pressing development needs.
He also highlighted the importance of country platforms that align national development priorities, enhance inter-ministerial coordination, and improve transparency to attract long-term investment.
“Unlocking private finance requires more than good ideas. It requires trust, coherence, and credible institutions,” he said.
The side event was part of a broader initiative by the five UN regional commissions—ECA, ECE, ECLAC, ESCAP, and ESCWA—to promote regional approaches to solving global development finance challenges.