Civil society calls for transformative action on debt justice, feminist economic policies and public finance architecture in lead-up to the Fourth International Conference on Financing for Development

The Civil Society Financing for Development (CSFfD) Mechanism, pushed for progressive reforms during the 2025 UN Financing for Development Forum, held from April 28 to May 1 at the United Nations Headquarters, New York.

The UN Financing for Development Forum served as a key preparatory platform ahead of the Fourth International Conference on Financing for Development (FFD4), scheduled for June. Global Call to Action Against Poverty (GCAP) is a part of the Civil Society Financing for Development (CSFfD) Mechanism.

The strategic side-events organised by the CSFfD Mechanism called for urgent reforms in international public finance, debt architecture and global economic governance with a strong emphasis on gender and climate justice.

Reclaiming the Role of the State in Public Finance Architecture

In the side event on April 28, titled “The Unique Opportunity for a Meaningful Reform of the International Public Finance Architecture”, civil society organisations underscored the need to restore the developmental and regulatory role of the state and democratise decision-making in global finance.

The roundtable featured experts who proposed bold actions such as the creation of a UN Convention on International Development Cooperation and the launch of an intergovernmental UN process to reform International Financial Institutions (IFIs) and Multilateral Development Banks (MDBs). The session generated rich dialogue around rebalancing power and equity in global financial governance.

Feminist Economic Justice at the Core of FFD4

The side-event “Feminist Perspectives and Recommendations on the Fourth International Conference on Financing for Development” organised on April 29 at Conference Room-TRI in UNHQ, drew attention to the intersections between gender, economic inequality and ecological breakdown.

Speakers presented data and analysis connecting systemic economic structures with persistent gender discrimination and social exclusion. Feminist advocates, including Mae Buenaventura of The Asian Peoples’ Movement on Debt and Development (APMDD), argued for a Sovereign Debt Convention and a Convention on International Development Cooperation to build a financial system that works for women, Indigenous peoples and marginalised communities.

Civil Society’s Response to the First Draft Outcome Document

On April 30 at Conference Room-4 of UN Headquarters the side event, “Towards an ambitious FfD4 Conference: Civil Society Response to the First Draft Outcome,” focused on analysing the draft’s thematic pillars and proposing language to strengthen commitments on gender equality, environmental sustainability and democratic governance.

Participants emphasised the need to raise ambition and hold Member States accountable to the 2030 Agenda for Sustainable Development and international human rights obligations.

Mandating a Just Multilateral Debt Architecture

The closing side event, “Mandating a New Multilateral Debt Architecture Including a Reformed Credit Rating System,” organised on May 1 at Conference Room-TRI of the UN Headquarters, spotlighted civil society demands for comprehensive sovereign debt reform.

Proposals included a UN Framework Convention on Sovereign Debt and the establishment of a public credit rating agency accountable to multilateral standards rather than market speculation. From the perspective of Global South countries, these are not optional policy reforms but urgent measures to protect sovereignty, social spending, and development rights.

The Way Forward

With engagement across the UN Financing for Development Forum, the civil society reiterated that justice in development finance must be at the heart of the FFD4 process. They emphasised that without systemic reforms — including binding international frameworks, feminist economic transformation and climate justice — the world will fall short of achieving inclusive and sustainable development.

–