Compromiso de Sevilla – FAQs

1. What is Compromiso de Sevilla?

On Tuesday, 17^th June 2025, UN Member States reached agreement on the outcome document for the Fourth International Conference on Financing for Development, to be formally adopted at an upcoming summit in Sevilla, Spain – though without the participation of the United States, which withdrew from the negotiations and announced it will not attend the conference.

This outcome document is known as the Compromiso de Sevilla.

The Sevilla conference, to be held from 30 June to 3 July will mark the fourth major UN conference on financing for development, following Monterrey (2002), Doha (2008) and Addis Ababa (2015).

It is expected to produce concrete commitments and guide international financial cooperation in the lead-up to and beyond the 2030 deadline of the Sustainable Development Goals (SDGs).

2. What are some of the key outcomes of the negotiations?

• Noted the gap between sustainable development aspirations and financing to meet them has continued to widen, particularly in developing countries reaching an estimated $4 trillion annually
• Reaffirmed commitment to multilateralism
• Decision to launch an “ambitious” package of reforms and actions to close the financing gap with urgency, and catalyse sustainable development investments at scale
• Committed to making global economic governance more inclusive, representative, equitable, and effective

(Please see Annexure A for the full text of the outcome document).

3. Why did the US withdraw from the negotiations?

The reasons cited in the US statement for withdrawal were: 

• firm rejection of the proposal to increase lending capacity of multilateral development banks 
• rejection of  the envisioned role for the UN in the global debt architecture
• trade language negotiated or adopted by the General Assembly and the Economic and Social Council or under their auspices, having no relevance for U.S. trade policy, for U.S. trade obligations or commitments, or for the agenda at the World Trade Organization
• Negotiations related to a UN Framework Convention on International Tax Cooperation being inconsistent with U.S. priorities and representing unwelcome overreach, coupled with US’ intention to reject the outcomes of that process and oppose them
• rejection of any attempt to establish alternative, duplicative processes for financing regulations as they are beyond the scope of the UN’s mandate and limit the sovereignty of Members States

4. What were the commitments made to international tax co-operation?

To strengthen international tax cooperation and ensure that international tax rules respond to the diverse needs, priorities, and capacities of all countries, especially developing countries, the statement made the following commitments: 

• We commit to ensure that international tax cooperation is fully inclusive and effective, and beneficial to all. We resolve to strengthen the voice and representation of developing countries in the international tax architecture. We emphasize the importance of careful analysis of the implications of international tax cooperation frameworks for developing countries, ensuring equitable benefits and addressing their specific challenges
• We will continue to engage constructively in the negotiations on a United Nations Framework Convention on International Tax Cooperation and its protocols and encourage support for the process
• We will promote inclusive cooperation and dialogue among national tax authorities on international tax matters, and take note with appreciation the work of the United Nations’ Committee of Experts on International Cooperation in Tax Matters, including its subcommittees
• We recognize the ongoing implementation of Pillar Two of the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting, which intends to ensure that large multinational enterprises pay a minimum level of tax on the income arising in each of the jurisdictions where they operate. We call for country-based specific technical support to interested Member States upon their request in implementing the Global Anti-Base Erosion Model Rules and the Subject to Tax Rule under Pillar Two
• We will make sure that all companies, including multinationals, pay taxes to the Governments of countries where economic activity occurs and value is created, in accordance with national and international laws and policies
• We commit to enhance tax transparency while recognizing the challenge that countries in special situations face. We will support developing countries to implement standards, including by strengthening support for capacity development and giving them special considerations, while ensuring data protection and information security. We will work to strengthen country-by-country reporting of multinational enterprises, when applicable, including further evaluating the creation of a central public database for country-by-country reports
• We commit to enhance beneficial ownership transparency and cooperation on exchange of beneficial ownership information. We will implement effective domestic beneficial ownership registries with high quality and standardized information, consistent with international standards. We will enhance mechanisms for information exchange among national beneficial ownership registries and consider the feasibility and utility of a global beneficial ownership registry. In all these efforts, we will build on existing work, facilitate the exchange of knowledge and best practices, and provide assistance to developing countries in implementing these transparency standards
• We will provide developing countries with demand-based technical assistance and capacity building programmes to ensure that they benefit from international tax cooperation

5. What are the implications of Compromiso de Sevilla?

The outcome statement will be indicative of the future stance to be adopted by Governments which will shape policymaking, and guide approach towards multilateralism. 

¹ https://news.un.org/en/story/2025/06/1164591
² https://usun.usmission.gov/remarks-at-the-closing-meeting-of-the-preparatory-committee-for-the-fourth-international-conference-on-financing-for-development/

Annexure A »

Disclaimer: The contents contain general guidance on developments on the subject and specific professional advice should be sought before acting on them. The views contained herein are that of the author and do not necessarily constitute those of BMR Legal.