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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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Increasing complexity in the financing for sustainable development system - instruments, income and interlinkages

Each actor and type of finance for sustainable development has its own comparative advantages, costs and benefits. The wide range and variety of financing actors suggests new opportunities to diversify between and combine financing sources to increase their contribution to sustainable development. In an ideal world, actors would be well informed about these strengths and weaknesses, enabling them to strategically exploit each source to meet the financing needs of Agenda 2030.This Chapter provides an overview of features and factors that increase the diversity of financing available, but also increase the complexity of financing choices. The Chapter outlines the different instruments available, as well as the way a country’s income level affects the financing options it faces. Finally, the Chapter surveys some of the complex interactions between actors and financing sources. These three elements – instruments, income levels, and interactions – reinforce the need for a coherent, holistic approach across actors.

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