As aid dwindles, countries pledge to close a $4 trillion development gap

These reforms – most of which came from commitment created by Member States attending the development finance summit in Seville last year – including mobilizing public and private investment, expanding debt relief mechanisms for developing countries, and tackling corruption.

“Today’s results show that, through dialogue, mutual respect and compromise, Multilateralism can provide meaningful results,” Economic and Social Council (ECOSOC) President Lok Bahadur Thapa said.

This annual ministerial declaration marks the end of the UN session High Level Political Forum on Sustainable Development (HLPF)which takes place in New York from July 7 under the auspices of ECOSOC.

In the declaration, Member States also acknowledged the United Nations’ limited liquidity, condemned attacks on critical infrastructure such as shipping routes, identified poverty eradication as the greatest global challenge, highlighted the need for inclusive governance of artificial intelligence (AI) and condemned unilateral trade actions – reflecting current geopolitical challenges.

SDGs efforts are hampered

Most of the funding needed to achieve the SDGs comes from domestic sources, however The UN report has noted That Official development assistance (ODA) is critical to financing sustainable development in the poorest countries.

Despite Seville’s commitment and repeated multilateral agreements to increase SDG financing, ODA falls by 23.1 percent between 2024 and 2025largely due to declining aid from the United States, Britain, Germany, France and Japan, according to data from the Organization for Economic Co-operation and Development (OECD).

In the 2026 declaration, the signatories urge developed countries to increase ODA according to the UN target of 0.7 percent of Gross National Income (GNI). If every member country of the OECD Development Assistance Committee meets that target by 2023, an additional $200 billion in aid would be available..

Two new UN reports were presented on Thursday by Navid HanifAssistant Secretary General for Economic Development at Department of Economics and Social Affairs (DESA)shows that existing ideas such as coordinated action and bridging the digital divide can bring progress on the SDGs.

UN Development Policy Committee Chair José Antonio Ocampo said on Thursday that reducing high borrowing costs and increasing the capacity of multilateral development banks will be key to accelerate progress on the SDGs.

“Leaving no one behind, including leaving no country behind, remains a must to achieve sustainable development in 2030 and beyond,” said Ocampo.

The UN looks to the future

Throughout the HLPF, UN officials repeatedly acknowledged that many of the SDGs would not be fully achieved by 2030, but they also began discussing what kind of development policies to pursue in the following years.

“While the focus remains on accelerating progress on the SDGs towards the 2030 deadline, it is time to start discussing what sustainable development will require after 2030,” said Mr. Ocampo.

Next year, in addition to the annual HLPF, the UN will host a quadrennial high-level SDG Summit, attended by member states will consider the future of sustainable development.

Glass half full

Deputy Secretary General Amina J. Muhammad reflects the lessons learned from 11 years of the SDGs, affirming their “transformational” impact on multilateralism while recognizing the challenges associated with current national interest trends in such cooperation.

Mohammed’s mother said the UN is not looking for a replacement 2030 Agenda for Sustainable Developmentbut it is considering various possibilities, including a range of other goals.

“The next five years are about realizing the promise of the SDGs and building the foundations to achieve these goals,” said Ms Mohammed.