Global coalition unveils $4 trillion development finance plan as aid funding drops
A coalition of governments and international organisations have announced a comprehensive Action Plan to dramatically increase private sector investment in developing countries, addressing a $4 trillion annual financing gap that has widened since the pandemic. The initiative, unveiled at the Fourth Financing for Development Conference (FFD4), brings together the UN Capital Development Fund, UN Economic Commission for Africa, African Union Commission, OECD, and governments from Finland, Norway, and Switzerland, among others. The plan specifically targets mobilising private capital for the world's 44 Least Developed Countries, home to 880 million people. The announcement comes as official development assistance declined by over…
