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U.N. conference gains pledges for climate finance, launches initiatives

Leaders pushed for better financial systems at only the fourth U.N. conference on development financing held since 2002.

The Fourth International Conference on Financing for Development held in Seville, Spain.
Negotiators sought new public-private cooperation, long-term tax reform, and creative ways to increase climate finance at the Fourth International Conference on Financing for Development held in Seville, Spain. (UN DESA/Helen Rosengren)

The Fourth International Conference on Financing for Development, a U.N.-hosted series, concluded with a pledge to increase climate finance and the launch of 130 new initiatives.

The conference ended with the Sevilla Commitment (Compromiso de Sevilla), a plan that aims to boost sustainable development investment and address the global debt crisis. It also seeks to give developing nations a stronger voice in international finance.

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