The role of finance for development
Overview
- Finance for development – mantra since 2015
- Net negative resource flows out of developing countries
- Official finance and ODA failed to keep up with promises or need
- Is Blended finance the solution?
- Space for regional options?
Mind the gap : Addis Ababa and Agenda 2030
- Current public and private initiatives to implement the Addis Ababa Action Agenda and to fulfil the SDGs are insufficient.
- UNCTAD estimates of financing gap sets the annual financing gap of $2.5 trillion a year for developing countries UNCTAD 2014a
- To meet only the first of the Sustainable Development Goals (‘no poverty’) by 2030, and assuming that savings, FDI and ODA stay at current levels, Africa alone would have to grow at double digit rates of over 15% per year.
- How to mind the gap:
- Identifying new and additional sources of finance
- Plug the holes IFF profit-shifting
- Design and implementation of viable nation and regional long-term financing and debt strategies linked to sustainable and productive investment and development.
Penelope Hawkins, Senior Economic Affairs Officer Debt and Financial Analysis branch Division on Globalisation and Development Strategies penelope.hawkins@un.org
