13 April 2023 - Insufficient financing remains one of the greatest bottlenecks preventing the world from achieving the Sustainable Development Goals (SDGs). To turn things around and to boost momentum towards financing our future, several major events will take place this month, including the ECOSOC Financing for Development Forum on 17-20 April, and the SDG Investment Fair on 18-20 April.
Here are four key issues you need to know:
- 1. Debt
With global financing conditions tightening, large debt payments due in the coming years, and the current international financial architecture poorly prepared to deal with widespread sovereign debt distress, the global outlook is extremely concerning. Nearly 60 per cent of the poorest countries are in debt distress or at high risk of debt distress.
- 2. Development cooperation
Development cooperation has a crucial role to play in rescuing the SDGs. Enhanced access to reliable, predictable below-market rate financing to support developing countries’ long-term resilience is especially important for countries facing multidimensional structural vulnerabilities.
- 3. SDG Stimulus
In February 2023, the UN Secretary-General proposed an SDG Stimulus of at least $500 billion per year, aiming to tackle the high cost of debt and rising risks of debt distress; massively scale up affordable long-term financing for development; expand contingency financing to countries in need; and advance towards a reformed international financial architecture.
- 4. SDG Investment Fair
The Fair, launched in 2018, serves as a platform to showcase country-level initiatives and investment opportunities, especially in developing countries. Since 2018, seven SDG Investment Fairs have been held; US$ 11+ billion worth of project investments have been pitched in infrastructure, green energy, and agribusiness; and 22 countries and over 1200 key actors have participated. Register to join .
For more information: Financing for Sustainable Development Office