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Global Outlook on Financing for Sustainable Development 2019

Time to Face the Challenge

image of Global Outlook on Financing for Sustainable Development 2019

The financing for sustainable development agenda promises to bring together more actors than ever before – from businesses, governments, philanthropists, and remitting households – to address the world’s most pressing problems and achieve the Sustainable Development Goals.

Yet, in spite of this promise, the financing for sustainable development gap is growing. While needs continue to increase, resources available to developing countries have been constrained and in some cases even declining, as illustrated by the recent drop in foreign direct investments. New financial instruments and interactions have yet to mobilise much-needed new resources in sufficient volumes. And despite significant advances, we do not yet fully understand the opportunities and risks faced by the various actors in this complex new global financing system.

This report sounds a wake-up call. To fulfil the commitments of the 2030 Agenda, and lift hundreds of millions of people out of extreme poverty, the international community needs to maximise the development footprint of existing and future resources, thereby “shifting the trillions” towards the SDGs. The first in a series, this report charts a forward path for the changes required in measurement, policies, and operations to achieve these ambitious objectives.

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Implementation: Co-ordinating actors, tailoring solutions

The 2030 Agenda requires a significant change in how development actors operate so that they deliver on the promise of a holistic approach. Indeed, the impact of the Addis Ababa Action Agenda should be most visible at the level of implementation and operations.This chapter outlines challenges encountered at the country level in integrating diverse sources of financing. It surveys some of the tools being tested to overcome these challenges and recommends ways forward. In short, existing tools must be strengthened, new tools developed and a significant implementation gap filled in order to realise the promise of the Addis Ababa Action Agenda.While recognising that country-led development remains the central pillar of financing for sustainable development, the chapter also encourages the integration of sustainable development at local, regional and global levels. Financing solutions must also be tailored across sectors, including for cross‑cutting policy goals such as gender equality and the climate transition.

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