Club de Madrid’s annual policy dialogue 2025 focused on financing for sustainable development and on driving sustainable futures for all through international financial reform. A collective call to action issued at its conclusion of the event emphasizes that delivering on long-standing commitments, including the 2030 Agenda for Sustainable Development, is “no longer only a matter of policy” but “a test of international credibility and shared responsibility.”
Held from 3-4 April in Nairobi, Kenya, the event sought to support implementation of the outcomes of the 2024 Summit of the Future (SoF) and bring the voice and agency of Club de Madrid’s members – “democratic former Heads of State and Government” – to the UN Economic and Social Council (ECOSOC) Forum on Financing for Development Follow-up (FfD Forum), the Fourth International Conference on Financing for Development (FfD4), and the Second World Summit for Social Development, among other milestones.
The Call to Action draws attention to an annual shortfall of over USD 4 trillion to achieve the SDGs and unmet climate finance commitments that undermine sustainable development. Highlighting multilateralism as “the only way forward,” the document urges political leadership across the Group of (G20), the UN, and international financial institutions (IFIs) to act on seven priorities:
- Transform multilateral development banks (MDBs) and unlock the power of financial innovation;
- Establish a fair, multilateral sovereign debt resolution framework;
- Deliver global tax justice and strengthen domestic resource mobilization;
- Reaffirm official development assistance (ODA) as a strategic and predictable investment;
- Scale up climate finance and align private investment with public purpose;
- Advance inclusive and accountable financing; and
- Defend a fair multilateral trading system (MTS) against fragmentation and protectionism.
A 17-page Concluding Document of the 2025 Annual Policy Dialogue presents 20 key messages articulating Club de Madrid’s position on priorities for the global FfD agenda in the lead-up to FfD4, the G20 Summit, the meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG), and other relevant UN convenings in 2025 and beyond. These include democratizing global financial governance, reforming credit rating systems, elevating South-South cooperation, and supporting the negotiation of the UN Framework Convention on International Tax Cooperation.
Three working groups contributed to the Policy Dialogue through dedicated discussions on scaling up finding and reforming financial institutions, sovereign debt issues, and international tax cooperation.
Organized by Club de Madrid and partners, the event was hosted by the UN Office in Nairobi and Kenya’s Ministry of Foreign and Diaspora Affairs.
Club de Madrid is an alliance of democratic former Presidents and Prime Ministers who, through dialogue and advocacy efforts, tackle challenges such as inclusion, sustainable development, and peace. [Club de Madrid’s 2025 Annual Policy Dialogue: International Financial Reform: Driving Sustainable Futures for All]