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ILO Lauds Global Commitment To Boost Social Protection Investments

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Last updated: 2025/07/11 at 4:41 PM
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The International Labour Organization (ILO) has commended the decisions taken by global leaders and other stakeholders at the Fourth International Conference on Financing for Development held in Seville, Spain, from 30 June to 3 July, which calls for increased investments in social protection.

The consensus document commits to supporting countries that aim to expand coverage by at least two percentage points annually.

Commenting on the consensus agreement by the global leaders on the need for increased investments in global protection, the ILO Director-General, Gilbert Houngbo, said: “The Compromise de Sevilla  reaffirms the importance of multilateralism and a sustaining international framework with a clear, pragmatic benchmark. The real test now lies in implementation with national ownership, institutional capacity and international solidarity.”

According to him, the Compromiso de Sevilla encourages countries to “integrate financing of social protection systems and policies, including floors and policies in line with International Labour Organization recommendations and intergovernmentally agreed standards, into their country-led plans and strategies.”

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Houngbo further maintained that it also committed to “provide support to developing countries that aim to increase social protection coverage, including those that aim to do so by at least two percentage points per year.”

Data from the global labour organization indicated that currently, 3.8 billion people still lack basic social protection.

A news release from the ILO,  indicated that its recognizing the centrality of universal social protection in the Compromiso de Sevilla reaffirms that the international financial system must work for people, workers and their families, enhancing living standards, reducing inequalities and protecting the most vulnerable, including persons with disabilities, young people and migrants.

Houngbo maintained: “For beyond economic efficiency, what is at stake is the credibility of our promise to leave no one behind.”

To support implementation, the ILO and the Global Partnership for Universal Social Protection (USP2030) launched the Sevilla Platform for Action to help countries mobilize resources, prioritize public investment and expand social protection coverage, especially in countries and populations with the greatest gaps.

In addition to the strong focus on social protection, the Compromiso de Sevilla marks several other important gains for the International Labour Organization and its constituents.

The ILO press release further stated that the outcome recognized the role of micro-, small and medium-sized enterprises, cooperatives and the social and solidarity economy as key drivers of decent work and inclusive growth, and called on countries and financial institutions to expand targeted support to these sectors, including through tailored financing, technical assistance and policy integration.

The agreement also encourages greater alignment of financing strategies with employment goals, including the promotion of youth employment, the care economy and the transition to formality. These priorities reflect the International Labour Organization’s integrated approach to social justice and will inform its continued engagement on financing for development.

At Seville, the ILO played a pivotal role in shaping the outcome of the Conference by moderating the Multistakeholder Round Table on Mobilizing and Aligning Domestic Public Resources, which helped drive forward commitments on tax justice, fiscal transparency and inclusive public finance.

The global labour organization also co-organized a High-Level Special Event With Spain, Qatar and the United Nations, reinforcing the global resolve to finance social development and laying the groundwork for implementation efforts at the Second World Summit for Social Development, to be held in Doha, Qatar, in November 2025.

 

TAGGED: Fourth International Conference on Financing for Development 's "Compromiso de Sevilla" Agreement, Fourth International Conference on Financing for Development held in Seville - Spain, Global Partnership for Universal Social Protection (USP2030), ILO Director-General - Gilbert F. Houngbo, ILO Lauds Global Commitment To Boost Social Protection Investments, International Labour Organization (ILO), Labour and Industrial Relations Matters, Social Protecction
brtnews July 11, 2025 July 11, 2025
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About BRTNews

BRTnews.ng, is an online publication with a strong penchant for investigative journalism. We have specialized skills in reporting business and economy globally but more particularly, banking and taxation matters.
Our team comprised of a few seasoned journalists whose high...

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