The FfD4 is taking place at a time when the world is reeling with multiple crises: growing inequalities within and between countries, unsustainable debt burdens faced by Global South countries undermining the realization of human rights and the provision of public services, structural gender inequalities, decent work deficit, continued corporate tax avoidance and evasion and illicit financial flows, rise in conflicts and militarism, cuts in official development assistance (ODA) and failure to uphold longstanding commitments, shrinking civic space, the worsening triple planetary crisis, widespread hunger and malnutrition, growing fractures in the multilateral trade system, and rapidly declining international cooperation.
Civil Society Declaration Finance In Common Summit (FiCS) | Fostering Infrastructure And Finance For Just and Sustainable Growth
The confluence of rising inequality, debt crises, and the escalating climate emergency demands that Public Development Banks (PDBs) demonstrate genuine leadership in driving just, sustainable development. At this critical juncture, PDBs must move beyond rhetoric and commit to concrete, transformative actions, placing human rights, community leadership, and environmental sustainability at the core of all financing decisions. Civil Society Organisations (CSOs) call on PDBs to embrace this responsibility and champion a new era of development finance.