The new financing framework due to be agreed at Addis Ababa for the universal post-2015 development agenda needs to be bold and transformative in supporting countries to tackle the challenges of eradicating poverty, environmental degradation, vulnerability to natural hazards, and protracted conflicts, United Nations Development Programme (UNDP) Administrator Helen Clark, said in a press release.
He pointed out that Jamaica and the majority of its neighbours have continued to struggle since the global financial fallout without having received much assistance from the worldwide community as a whole.
The Addis Ababa conference will last until 16 July and is expected to adopt an intergovernmentally negotiated and agreed outcome document “Addis Ababa Action Agenda” for the implementation of the new sustainable development agenda.
The MDBs are referred to African Development Bank, Asian Development Bank, European Bank for Reconstruction and Development, European Investment Bank, Inter-American Development Bank and World Bank Group.
“The development finance context has changed since [the 2002 conference in] Monterrey”, Desalegn said. By merging concessional and non-concessional lending windows ADB will be able to increase its financing to member countries by 50 percent.
The SDGs take up the baton from 2016, with a total of 17 new goals, including one to end poverty everywhere, and another to end hunger.
It will be a world in which everyone’s fundamental rights are met, where growth takes place within planetary boundaries, and benefits are delivered to all.
“We think that there really is around the world a recognition of the need to mobilize different streams of financing [or] capital in order to really have sustainable development”, Williams said.
And banks should continue to support microfinance institutions, providing financing as well as capacity building across the sector. “These must be matched by strengthened public policies and regulatory frameworks, and incentives for changes in consumption and production patterns”.
To achieve the global Sustainable Development Goals, it is essential to increase investment and resource flows to developing countries.
He stressed it was the “joint responsibility” of the government, civil societies and the private sector to evaluate their contributions towards the SDGs, including investment in job opportunities, education and protection of the environment.
Blended Finance seeks to attract private-sector investment and finance alongside development finance and philanthropic funds to manage risks and enhance returns.
Mr. Min Zhu, the Deputy Managing Director of the global Monetary Fund (IMF) says partnership, commitment and flexibility would be key in moving further on the path of sustainable and inclusive growth. The only way to seize it is through partnership. Because nowhere is too far to go to help a child survive.
World leaders are intending to raise billions of dollars to ensure sustainable development in developing countries.
We know from the data on child and maternal deaths, the most vulnerable and hardest to reach are those children and mothers who are marginalized, in fragile states, fleeing conflict or so remote that they are not yet being reached with life-saving health services. These steps will close the inequality gap by giving opportunities to the poor, according to analysts.