As the Fourth International Conference on Financing for Development wraps up, Devex reporters Jesse Chase-Lubitz and Elissa Miolene join Associate Editor Thomas Cserép for a podcast episode reflecting on what transpired this week in Sevilla — beyond the sweltering 115 degrees Celsius heat.

The big takeaway from FfD4 is the Compromiso de Sevilla, a document that participants view as both a commitment and a compromise. "Multilateralism lives" became the conference's unofficial motto as countries adapted to the United States’ absence.

“It's more of a pickup moment after six months of global upheaval, and now moving forward and seeing what's next, and perhaps there'll be other actors that fill that gap, and maybe that might come from the global south itself,” Miolene said.

Key outcomes include establishing a borrowers' group to amplify the voices of low- and middle-income countries, and creating a global debt registry aimed at promoting transparency. While climate language was significantly watered down due to the United States’ proposed amendments prior to their withdrawal, tax reform gained momentum, with renewed calls for a U.N. convention on international tax cooperation.

However, civil society groups expressed frustration over access restrictions at the conference, while journalists faced rigorous checkpoints entering areas where negotiations were actually taking place.

At the conference’s side events, private sector engagement was notably high, suggesting that despite falling aid budgets, there's a genuine appetite for partnerships — with the overall mood remaining cautiously optimistic about what comes next.