At the Fourth International Conference on Financing for Development (FfD4), Malala Fund spotlighted how unjust debt burdens undermine girls’ education and called for bold global reforms.
Earlier this month, government officials, civil society organisations and activists gathered in Seville, Spain, for the Fourth International Conference on Financing for Development (FfD4). The outcome document released ahead of the conference, the Compromiso de Sevilla, is intended as the basis of a renewed global framework for financing sustainable development, particularly amid a widening $4 trillion annual financing gap faced by low-income countries.
This conference assessed the progress made in the implementation of the previous outcomes — the Monterrey Consensus, Doha Declaration and Addis Ababa Action agenda — and addressed urgent global challenges like climate, development financing and reforming the international financial architecture to better align with the Sustainable Development Goals (SDGs).
At FfD4, Malala Fund built awareness and deepened partnerships to advance calls for debt justice for girls’ education. By centring girls’ perspectives and fostering cross-sector reflection and collaboration on the issue, Malala Fund is helping shift the global conversation toward financing solutions that recognise debt justice and girls’ education as inseparable issues.
As debt took centre stage at the conference, Malala Fund published new research showing that reducing debt servicing ratios to 10% of national revenues in lower-income countries could release $506 billion for education over five years. That’s enough to give governments the fiscal space to abolish school fees, hire more teachers and support more adolescent girls to complete school. Malala Fund is advocating for financial systems that work for girls, recognising that debt reform goes hand-in-hand with girls’ education and building a more just, equitable future.
Building a coalition for debt justice across sectors
On the first day of FfD4, Nabila Aguele, Malala Fund’s Chief Executive for Nigeria, joined a panel of country representatives and civil society leaders to discuss sustainable financing solutions for education and the urgent need to include girls’ priorities in national budgets.
“The message was clear: this will take domestic leadership, long-term sustainability, strong accountability, innovative financing models, outcome-focused investments and collaboration across stakeholders,” said Aguele.
On July 2, Malala Fund co-hosted an event with education sector partners on how centring education in discussions about financial architecture and debt reform can tangibly improve outcomes for girls. Alongside youth leaders, economists and gender experts, the panel discussed the systemic barriers that keep education underfunded and proposed recommendations.
This first panel focused on domestic resource mobilisation, tax justice and financial architecture reform. Andressa Pellanda, coordinator for Campanha, a Malala Fund partner, spoke about education financing structures in Brazil, calling for systems that are transparent, equitable and sustainable.
Other speakers, including Attiya Waris, U.N. Independent Expert on Foreign Debt, Financing Obligations and Human Rights, reflected on debt as a fundamentally unjust mechanism that prevents countries from investing in girls.
On July 3, Malala Fund — in partnership with Plan International, UNGE, the Government of Chile and a coalition of other partners — convened its final event at FfD4. It brought together government officials, financial experts and youth leaders to explore a range of modalities to fund girls’ rights and the current challenges facing the funding landscape today. From reallocating funds from debt servicing to girls’ education to progressive, gender-responsive taxation policies, it’s clear that the path to sustainably financing girls’ education is within reach.
“We want to see the G20 Common Framework work for girls and bring debt relief down to truly sustainable levels,” said Naomi Nyamweya. “And what is truly sustainable is the levels that enable governments to invest in adolescent girls and their needs.”
Elevating girls’ voices in global conversations on debt
Governments in crushing debt often cut essential services like education, health care and school feeding programmes. These cuts, combined with social norms that demand women and girls to fulfil dual roles, household management and generating income, reinforce intergenerational poverty, marginalisation and limit girls’ opportunities.
Without education, girls face reduced lifetime earnings, limited decision-making power and increased exposure to early marriage and violence. The consequences are both immediate and long-term for girls, their families and entire communities.
Girls live this reality every day, but are often left out of spaces where education financing decisions are made.
“If we want truly sustainable development, we must begin and end with education. We have to pivot funds from institutions to individuals. Education shifts power from austerity to agency, from top-down mandates to local innovation and ultimately from crisis to resilience,” said Sapphire Alexander, youth activist and founder of Caribbean Feminist.
Looking ahead to G20
The Compromiso de Sevilla is less than ideal. While the conference stressed the importance of increased transparency and acknowledged that effective debt management hinges on coordinated action between creditors and debtors, it stopped short of systemic change. Without a comprehensive solution, low- and middle-income countries will continue to lose prominent fiscal space to debt servicing.
The combined threats to education and other social services that girls rely on should be front and centre of discussions. Yet, girls’ perspectives — and youth broadly — were sidelined at the conference, leaving their priorities behind. Girls’ leadership and intentional engagement are how we create a world where every girl can learn and choose her own future. Without their recommendations, policies will continue to exclude them and their priorities.
Following FfD4, Malala Fund and partners hosted a virtual learning circle for young feminist activists to connect, share and learn about FfD4, what the outcomes mean for girls’ rights and what they want to see as next steps. The recording of our earlier, introductory learning circle on debt as a girls’ rights issue is here.
As attention turns to the G20, Malala Fund will continue to call for financial reforms that enable governments to prioritise resources for education and build a world where every girl can learn, as outlined in our new five-year strategy. In a time of competing global priorities, investing in education — especially for girls — is one of the most effective ways to drive equitable growth, reduce inequality and build more resilient societies. And we’re determined to match girls’ resilience and hope for their future.
