Vatican City: The Holy See has raised concern that global aid is failing to meet growing needs, even as spending on weapons continues to rise. Speaking at a United Nations forum on financing for development, Monsignor Marco Formica urged world leaders to rethink how financial systems serve people, especially the most vulnerable.
Addressing the Economic and Social Council follow up forum, the Holy See representative said development efforts must keep human dignity at the centre. He noted that the meeting was the first since the adoption of the Sevilla Commitment, a global agreement aimed at reforming financial systems and closing the funding gap for sustainable development goals.
He explained that the current global financing model is not working well enough and needs more fair and ambitious solutions. According to him, financial tools and policies should not be seen as ends in themselves, but as ways to improve people’s lives. Their true value, he said, lies in how well they protect the dignity of every person and support those most in need.
Monsignor Formica pointed to a growing gap between international promises and the daily reality faced by billions of people. He said this is especially clear in poorer countries, including least developed nations, landlocked countries, and small island states, where many continue to struggle with limited resources.
He also highlighted the burden of rising debt, which is limiting public spending on essential services such as healthcare, education, and social protection. At the same time, he warned that aid commitments are not being fully met, while military spending continues to increase.
He said that people who are already vulnerable are paying the highest price for crises they did not create. This, he added, is not only a failure of policy but also a moral failure.
The forum, he said, should be seen as an act of solidarity. He called on wealthier nations to honour their commitments to development assistance and urged for more transparent and accessible systems for debt relief.
He also stressed that private investment should serve the common good, not just financial returns. Countries receiving funds, he said, must also ensure accountability and use resources for real development.
Quoting Pope Leo XIV, the Holy See representative reminded participants that all human beings share equal dignity, regardless of where they are born. He said global inequalities must not be ignored if the world truly wants a better future for all.