More than 70 global leaders are expected to attend a UN summit taking place in Seville from Monday to Thursday (30 June-3 July), with ambitious reforms on the agenda.
Leaders are expected to formally adopt a 38-page document, dubbed the "Seville Commitment,” which was previously agreed upon.
The agreement, while not legally binding, signals a political push to fix the global financial system, close the $4 trillion [€3.4 trillion] annual development funding gap, and speed up progress on the UN Sustainable Development Goals, including targets on education, health and poverty eradication.
In April, the Organisation for Economic Co-operation and Development (OECD), reported that aid spending in 2024 dropped by 7.1 percent, with deeper cuts of more than 15 percent expected this year.
The EU, for its part, is expected to deliver only the minimum.
In a 12-page position paper published in May, on aid budgets, the EU simply “recalls the collective commitment” to fulfil their “respective ODA [Official Development Assistance] commitments” to deliver 0.7 per cent of gross national income as foreign aid.
The Sevilla summit comes at a time of high global uncertainty, a looming US trade war, aid cuts, climate disasters, and with debt distress in developing nations intensifying.
And with over 80 percent of USAID programs recently defunded and Germany also planning cuts to its development budget, success will hinge on whether political promises translate into real action.
In neighbouring Portugal, the 2025 ECB Forum on Central Banking will take place from Monday to Wednesday. The conference brings together top central bankers to discuss how to adapt monetary policy and global financial stability.
Meanwhile, the first EU-Moldova summit will be held in Chișinău on Friday (4 July). European Council president António Costa and European Commission chief Ursula von der Leyen will join Moldovan president Maia Sandu to reaffirm the EU’s political and financial support.
Denmark will take over the six-month rotating European Council presidency on Tuesday (1 July), with the typical visit of the colleague of commissioners and the opening celebration planned in Aarhus for Thursday.
But before travelling to Denmark, the European Commission is expected to present the 2040 climate target on Wednesday, which independent scientists say must include at least a 90-percent cut in greenhouse gas emissions compared to 1990 levels to stay aligned with the Paris Agreement.
But that move is now in doubt, after French president Emmanuel Macron publicly urged the EU not to rush into an ambitious 2040 target, arguing that more time is needed to balance climate goals with European competitiveness.
The EU has committed to achieving climate neutrality (net‑zero emissions) by 2050 and to reducing its net greenhouse gas emissions by at least 55 percent below 1990 levels by 2030.
US president Donald Trump said last week that the US and Iran would meet next week — but no official date has been confirmed.
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Elena is EUobserver's editor-in-chief. She is from Spain and has studied journalism and new media in Spanish and Belgian universities. Previously she worked on European affairs at VoteWatch Europe and the Spanish news agency EFE.
Elena is EUobserver's editor-in-chief. She is from Spain and has studied journalism and new media in Spanish and Belgian universities. Previously she worked on European affairs at VoteWatch Europe and the Spanish news agency EFE.