The Finance Minister, Lekey Dorji represented Bhutan at the Fourth International Conference on Financing for Development (FfD4), held in Seville, Spain, from June 30 to July 3, 2025. The conference aimed to build a renewed global financing framework to unlock greater capital at lower costs and accelerate progress toward Sustainable Development Goals (SDGs).
FfD4 brought together high-level officials, including the UN Secretary-General, Presidents of the World Bank Group, Asian Development Bank, European Investment Bank, International Monetary Fund Managing Director, World Trade Organization Director-General, and Heads of State, Prime Ministers, and Finance Ministers from around the world. The conference focused on reforming the international financial architecture to enable transformative change amid global uncertainties.
The Minister delivered Bhutan’s national statement, welcoming the adoption of the outcome document which reflects the needs and aspirations of developing countries. He emphasized that the document will serve as a valuable guide in mobilizing financing for sustainable development during a period marked by geopolitical uncertainty and systemic risks.
The Minister highlighted Bhutan’s dedication to environmental conservation and underscored the importance of predictable and accessible climate finance. He called for scaling up Official Development Assistance (ODA) and expanding non-debt-creating financial instruments to support long-term resilience and fiscal stability. He urged Multilateral Development Banks to ease lending terms by increasing tenors, reducing interest rates, and offering financing in local currencies, alongside strengthening debt relief and restructuring mechanisms.
During the conference, Finance Minister engaged in bilateral discussions, including with Her Excellency Sim Ann, Senior Minister of State for Foreign Affairs and Home Affairs of Singapore. They discussed the progress of the Avoidance of Double Taxation Agreement (DTA) negotiations and Singapore’s collaboration on the Gelephu Mindfulness City project.
At the sidelines, the Minister also met with officials from India, Norway, Sweden, Luxembourg, Maldives, and representatives from the Asian Development Bank, UN, OECD, and other multilateral institutions. These meetings provided platforms to explore innovative financing solutions and strengthen international partnerships.
The Finance Minister also actively participated in several high-level side events, on Public Finance for Gender Equality: A Collective Commitment,” organized by UNDP, UN Women, and a group of countries. Lyonpo shared Bhutan’s achievements in advancing gender equality through public finance and outlined future strategies.
On “Tax Inspectors Without Borders (TIWB): Borderless” event, where the Minister highlighted Bhutan’s transition to a developing country and the importance of domestic resource mobilization. He emphasized that the TIWB program has been instrumental in enhancing Bhutan’s tax capacity and fostering fiscal independence.
During the Ministerial Meeting of Landlocked Developing Countries (LLDCs), Bhutan advocated for stronger regional cooperation, infrastructure development, economic diversification, and resilience-building to mitigate external shocks.
The Minister reaffirmed Bhutan’s commitment to working with the international community to strengthen global financing mechanisms and support the realization of the 2030 Agenda. His participation underscores Bhutan’s proactive approach to securing sustainable and inclusive economic growth through innovative finance solutions and international collaborations.
Meanwhile, during the ongoing Parliamentary Session, Members from the Opposition Party questioned on absence of Finance Minister during the re-deliberated on the National Council’s recommendations on the Excise Tax Bill of Bhutan, 2025. The Members from the Opposition Party said it is not fair to pass Bill when incharge of the Bill not present during the deliberation.
The Minister clarified that while the Prime Minister was invited to represent Bhutan, he had nominated the Finance Minister to attend this important meeting on financing for development.
Sangay Rabten from Thimphu
