Seville [Spain], July 4: The International Olympic Committee (IOC) has called for the next steps in the growing cooperation between development finance institutions and the sporting movement during the Fourth International Conference on Financing for Development (FFD4). The role of sport as an important enabler of sustainable development and a tool to create safer communities was also highlighted during the event.
The FFD4 was convened by the United Nations (UN) in Seville, Spain, and brought together heads of state, policymakers, development banks and civil society leaders. Key issues such as inequality, gender-based violence, climate change and the growing need for sustainable and inclusive financing solutions were at the forefront of discussions and were ultimately reflected in the final outcome document, the Sevilla Commitment.
IOC Member HRH Prince Feisal Al Hussein of Jordan, speaking at the plenary session - "Financing Efforts to Build a Better World through Sport" - highlighted how investment in sport generates substantial social and economic returns, and called for enhanced cooperation: "Further joint action is required, notably through: the integration of sport-based investment into national financing frameworks and innovation strategies; the provision of innovative and blended financing to scale sport-based interventions; and assessing the transferability and use of social impact bonds and debt swaps to enable investment in preventative policies and programmes, including those utilising sport."
Prince Feisal pointed to recent examples of successful collaboration, including the recent IOC Olympism365 Summit and Finance in Common Summit, as well as the Paris Summit on Sport for Sustainable Development in 2024, which led to concrete commitments and investments: "The Finance in Common Sport Coalition has committed to invest USD 10 billion in sport and sustainable development projects by 2030. The IOC has also increased its own budget dedicated to promoting the positive impact of sport worldwide by 10 per cent, reaching an unprecedented USD 650 million for 2025-2028.
Prince Feisal concluded by highlighting how the collaboration between the IOC and the UN system, which covers multiple joint programmes across the SDGs, "continues to be a valued and strategic part of our work. These partnerships reflect a shared commitment to advancing global development through collective effort."
Source: Emirates News Agency
