In “an exceptional joint effort” by the President of the UN Economic and Social Council (ECOSOC) and the co-chairs of the Intergovernmental Preparatory Committee of the Fourth International Conference on Financing for Development (FfD4), the ECOSOC Forum on Financing for Development Follow-up (FfD Forum) and the first meeting of the fourth session of the FfD4 Preparatory Committee (PrepCom 4.1) gathered ministers and high-level officials to discuss the first draft of the FfD4 outcome document and foster political momentum for the Conference.

The FfD Forum and PrepCom 4.1 convened back-to-back at UN Headquarters in New York, US. The FfD Forum took place from 28-29 April. PrepCom 4.1 met from 30 April to 1 May.

According to the Earth Negotiations Bulletin (ENB) briefing note, the meetings took place against the backdrop of major cuts to official development assistance (ODA) that are expected to decrease it 50% by the end of 2025. At the same time, the financing gap to achieve the SDGs is estimated at more than USD 4 trillion annually.

Coming on the heels of the Spring Meetings of the International Monetary Fund (IMF) and the World Bank Group, the FfD Forum served as “an opportunity to reflect on the nested crises facing the world, and how best to close the development financing gap.” Calls were heard to reform the international financial architecture “to give a voice to the most vulnerable and address ever increasing global inequalities.”

During PrepCom 4.1, delegates exchanged views on how best to deal with the outstanding issues in the first draft of the FfD4 outcome document. Instead of conducting line-by-line negotiations, they engaged with panelists on issues contained in the draft. Delegates reflected on ODA’s rapidly changing landscape, debated reform of the global debt architecture, and outlined priorities for science, technology, and innovation (STI). Many called for “a fit-for-purpose system for monitoring and follow-up to track the implementation of commitments.”

During both meetings, ENB notes, delegations shared views on the breakdown of the rules-based multilateral trading system (MTS), threatened, inter alia, by tariffs the US government recently imposed on over 100 countries. The US was not present either at the FfD Forum or the PrepCom. [ENB Coverage of 2025 FfD Forum and PrepCom 4.1]