Financing for Development (FfD) or How are we going to pay for the the SDGs

As many of you know I've been pushing the Sustainable Development Finance conversation in the FfD process. With the two co-facilitators working hard to get input into the process these additional informal conversations on aspects of the FfD agenda which is described as:

The six chapters of the Monterrey Consensus focus on mobilizing financing for development
from all available sources, with chapters on domestic (public and private) financial
resources, international private flows and international financial and technical cooperation
(international public flows), as well as on the importance of the enabling domestic and
international environment for development, including in chapters on trade, external debt
and systemic issues.

A holistic financing framework for sustainable development will need to build on these
chapters and address additional challenges. Specifically, it will need to:

  • be mindful of changes and continuities in the financing landscape 
  • extend the focus to encompass a universal agenda, incorporating global sustainable development considerations into the agenda - including climate finance and combatting climate change 
  • take into account the economic, social and environmental dimensions of sustainable development in an integrated manner, mindful of the proposal for sustainable development goals 
  • consider financing and other means of implementation in a holistic way 
  • address the importance of intermediary institutions and financial instruments to address the question of how to design policies to incentivize the flow of financing from all sources towards global goals
  • consider the follow-up process

The Proposed road map before the 1st prepcom


Mobilisation and effective use of resources (3,5 days)

The global context (0.5 days) -10 November 2014,3-6 pm

The global context, financing needs and major trends in financing across the threedimensions of sustainable development

Domestic public finance (1 day) -11 November 2014
  • Raising domestic public resources:
  • policy reforms
  • taxation and capacity development for effective collection
  • sustainable debt financing and international cooperation for debt resolution
  • Domestic public finance: mainstreaming sustainable development criteria
  • Fighting illicit flows
International public finance (1 day) -12 November 2014
  • Increasing international public finance: aid commitments
  • International public finance, including environmental financing/climate finance
  • South-South and triangular cooperation
  • Innovative mechanisms of financing
Private finance (domestic and international) and blended finance (1 day) -13 November 2014
  • Inclusive finance, including SME financing
  • Long-term investment
  • International capital flows
  • Sustainable finance (EESG considerations)
  • Local capital market development
  • Public-private partnership (PPPs)
  • Remittances and private development assistance
Enabling environment and systemic issues (3 days)

Enabling and conducive policy environment (1 day) - 9 December 2014
  • International monetary and financial system and financial market stability
  • Balancing access to credit with stability in regulatory regimes
  • International tax cooperation
  • Debt crisis prevention and resolution
  • Key policy reforms to implement individual SDGs
Trade, technology and capacity building (1 day) -10 December 2014

  • Trade reforms and facilitation
  • Trade and investment regimes for sustainable development
  • Fostering science, technology and innovation for sustainable development
  • Capacity building

Governance (1 day) -11 December 2014

  • Enabling and conducive national governance, including capacity development, transparent
  • and accountable institutions
  • Enabling and conducive international governance, including global economic governance,
  • transparent and accountable institutions
  • Use of data

Learning from partnerships and follow-up process (1 day) - 12 December 2014 or 14 January
2015

  • Learning from sector partnerships and funds (e.g. global funds, partnerships)
  • Interplay of financing sources at the national level and national sustainable development
  • financing strategies
  • Strengthening the FfD follow-up process

Afterward
So many of us have focused on the SDGs that we have not prepared proper input to the FfD ;rocess. It must not become just a Monterrey + just like the SDGs didnt become a MDG+ process this requires new thinking, new ideas and it needs them tomorrow if not yesterday. I am sure the development NGOs will contribute to the traditional development finance very well but they are not on top of or advocating for sustainable development finance in most cases. This needs new players and it needs them as Ive said yesterday.

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