United Nations Under-Secretary-General, Claver Gatete, has called for bold, coordinated action to close Africa’s $1.3 trillion annual sustainable development financing gap.
This is disclosed in a statement on Monday by the Communications Section, Economic Commission for Africa.
Speaking in Seville, Spain, at a high-level side event during the Fourth International Conference on Financing for Development (FFD4), Gatete warned that time was running out.
According to him, climate shocks, rising debt and tightening finance are striking just when investment is most urgently needed to achieve the Sustainable Development Goals.
The News Agency of Nigeria (NAN) reports that the global SDG financing gap now stands at $4 trillion annually, with Africa’s share reaching $1.3 trillion.
Gatete questioned why Africa, rich in resources and talent, still struggles to secure capital at scale.
He attributed the challenge to deep-rooted structural constraints and a fragmented global financing architecture that fails to serve Africa’s development needs.
Gatete said the Economic Commission for Africa (ECA) is promoting practical, scalable solutions to bridge the financing divide.
The ECA boss outlined five priority actions by the comission to mobilise sustainable finance and boost economic resilience.
He cited a debt-for-nature-and-industrialisation swap piloted in the Democratic Republic of Congo, linking it to investment in battery and electric vehicle industries, combining fiscal stability with green growth.
Gatete called for a stronger support for the Sustainable Debt Coalition, where ECA serves as Secretariat, noting that the coalition helps countries cut borrowing costs, access climate finance and improve fiscal strength.
He also called for stronger country platforms and better policy coordination to build investor confidence, while highlighting ECA’s African Investment Map, which helps de-risk capital flows and guide investments to viable projects.
Gatete emphasised unlocking blended finance through partnerships with Development Finance Institutes (DFIs), philanthropy and platforms like Convergence.
He said building a robust pipeline of bankable projects is equally essential to attract commercial capital.
Tbe under-secretary-general urged African nations to deepen domestic financial markets and improve sovereign credit ratings, adding that Africa must build internal resilience while seeking global solidarity and fair financing.
“Sustainable development cannot wait,” Gatete said, stressing that practical solutions already exist.
“What is needed now is political will, coordination and partnerships to drive delivery at scale,” he said.
He reaffirmed ECA’s readiness to work with partners to turn these priorities into lasting, inclusive impact.
