Why Multilateralism Matters for Eswatini

We are living in a time of profound global uncertainty.

Climate change is intensifying. Debt burdens are constraining development. Conflicts continue to disrupt lives and economies. Rapid technological change is creating new opportunities, but also widening inequalities.

Against this backdrop, one question is increasingly being asked: can multilateralism still deliver?

The answer matters for all countries, but especially for smaller and more vulnerable economies.

It was therefore fitting that the Kingdom of Eswatini recently hosted the First Session of the Africa–EU Parliamentary Assembly. Bringing together parliamentarians from Africa, the Caribbean, the Pacific and Europe, the Assembly provided an important platform to examine the future of multilateralism, development financing and parliamentary diplomacy.

That Eswatini was selected to host this gathering is significant.

It reflects the country’s longstanding commitment to international cooperation and its active engagement in regional and global institutions, including the United Nations, the African Union, the Southern African Development Community and the Organization of African, Caribbean and Pacific States (OACPS). 

For Eswatini, multilateralism is not an abstract concept debated in conference halls.

It is a practical mechanism through which the country mobilizes financing, technical expertise and partnerships to advance national priorities and improve the lives of emaSwati.

When Multilateralism Delivered for Eswatini

Eswatini offers a compelling example of what effective international cooperation can achieve.

Through partnerships such as PEPFAR and the Global Fund to Fight AIDS, Tuberculosis and Malaria, Eswatini has moved from being one of the countries hardest hit by HIV to one approaching epidemic control. Treatment coverage exceeds 90 per cent, while viral suppression rates are above 95 per cent.

The Global Fund alone has invested more than US$388 million in Eswatini since 2002, including a grant of US$46.7 million for 2024–2027.

These investments have saved lives, strengthened institutions and demonstrated the transformative power of multilateral cooperation.

Recent adjustments in United States assistance, including the closure of USAID funding mechanisms, underscore the importance of building more resilient and sustainable health financing models. U.S. support declined from US$76.6 million in 2024 to approximately US$20 million in 2025 and, at its peak, accounted for up to half of Eswatini’s HIV programme financing.

These changes are placing additional pressure on some HIV testing, prevention and community outreach services, particularly those serving adolescent girls and young women.

At the same time, the United States remains a longstanding and highly valued bilateral partner whose extraordinary contribution has been instrumental in Eswatini’s progress toward HIV epidemic control and in strengthening the country’s broader health system.

As the global financing landscape evolves, the challenge is to build on these gains through stronger national ownership, increased domestic investment, diversified financing sources and continued international partnerships, so that countries are increasingly able to meet the needs of their citizens and sustain progress over the long term.

The Middle-Income Paradox

Eswatini’s experience also illustrates a broader structural challenge.

As a lower-middle-income country with GDP per capita of approximately US$4,300, Eswatini is often viewed as relatively stable.

Yet more than 59 per cent of the population lives below the lower-middle-income poverty line. Youth unemployment exceeds 50 per cent. Inequality remains among the highest in the world, with a Gini coefficient above 54.

For countries like Eswatini, this creates a paradox: graduation in statistics, but not in vulnerability.

As United Nations Secretary-General António Guterres has noted, GDP shows what we produce, but not what we value. It does not capture inequality, climate vulnerability or institutional resilience.

This is why the United Nations’ Beyond GDP agenda, the Pact for the Future and the Sevilla Commitment on Financing for Development are so important. Together, they call for a more equitable global financial system and broader measures of development progress.

Reimagining Multilateralism in a Post-ODA Era

For many developing countries, Official Development Assistance is declining, but it has not been replaced by financing that is affordable, accessible and responsive to national priorities.

Many countries continue to face high borrowing costs, constrained fiscal space and credit ratings that do not fully reflect their economic potential.

The challenge, therefore, is not whether multilateralism works, but how to make it work better for small and vulnerable countries.

This requires reforms to the international financial architecture, including fairer credit rating approaches, expanded access to concessional and blended finance, and continued reform of the United Nations development system to better support countries in mobilizing investment and accelerating sustainable development.

From a United Nations perspective, three priorities stand out.

First, access to global and vertical funds must be simplified so that countries with limited capacity can make fuller use of available resources.

Second, financing should move from fragmented interventions to integrated, country-led platforms that align health, climate, education and digital investments.

Third, countries must invest in human capital.

More than 70 per cent of Eswatini’s population is under the age of 35. In a world where many countries face ageing populations and shrinking workforces, investments in health, education, skills and digital infrastructure are not only national priorities; they are investments in future talent, innovation and productivity.

The Global Digital Compact provides a practical framework for closing digital divides and ensuring that technology supports more inclusive and sustainable development.

The Strategic Importance of Africa–Europe Cooperation

The successful conclusion of the First Session of the Africa–EU Parliamentary Assembly highlighted the strategic importance of cooperation between Africa and Europe.

Discussions focused on peace and security, youth mobility, women in agriculture, critical raw materials and the future of multilateralism.

Africa brings a young and dynamic population, abundant natural resources and immense innovation potential. Europe remains a critical partner in trade, investment, climate finance and technology cooperation.

Together, both regions can help shape a multilateral system that is more inclusive, responsive and aligned with the realities of the 21st century.

A Smarter, Fairer Multilateralism

The true test of multilateralism is simple: does it improve lives? Does it enable the peoples of the world to work collectively on common challenges? Does it promote the equality of nations and peace, security and co-existence? 

The way forward is clear.

Multilateralism must become more resilient and predictable.

Income status must not be the sole determinant of development opportunity.

And partnerships must shift from fragmented interventions to integrated solutions delivered at scale.

If we succeed, Eswatini can become not only a beneficiary of international cooperation, but a demonstration case of effective multilateralism in action.

In an increasingly fragmented world, cooperation is not optional.

It is the most strategic investment we can make in a more just, sustainable and prosperous future for all.