In Part Two, contributors look into the past, towards the future and the complexity of international financing for development.

I

International financing of the Sustainable Development Goals

This contribution by Homi Kharas discusses the financing of the SDGs but widens the horizon to look at, for example, the contributions of private financing of public investment. He stresses that economic growth, and associated increases in domestic revenues, is far and away the largest driver of new financing for the SDGs, estimating that spending on the SDGs by developing countries could increase by US$ 7 trillion as a result.

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Homi Kharas, Deputy Director for the Global Economy and Development program at the Brookings Institution

“Despite advances in some areas, private financing is highly volatile in its response to global market and country-specific conditions, and is not a stable source of long-term capital for financing the SDGs at affordable rates.”
Amount of investment that emerging markets may need to deal with the COVID-19 crisis
US$ 2.5 trillion
II

From crisis to recovery: Building back better from COVID-19 through integrated national financing frameworks and SDG financing strategies

This contribution by Orria Goni, Emily Davis and Thomas Beloe explores how to build back from COVID-19 with a focus on financing strategies, including integrated national financing frameworks (INFFs). The authors argue that financing strategies that put the SDGs at the heart of recovery are crucial.

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Orria Goni, Emily Davis and Thomas Beloe,
UNDP Finance Sector Hub

“Integrated national financing frameworks [INFFs] comprehensively articulate how tax revenues, improved spending efficiency, debt management, international development cooperation, as well as foreign and domestic private-sector investment, can be aligned with national development priorities.”
The UN Secretary-General’s Strategy for Financing the 2030 Agenda for Sustainable Development underscores the UN’s critical role in transforming the financial system.
III

Reinforcing forces? New technologies and investment in sustainable development

In the final chapter in this section, Navid Hanif and Philipp Erfurth focus on the nexus of new technologies and investment in sustainable development, asking if they are reinforcing forces which can generate synergies and unlock new funding for development. The authors argue that investment in emerging technologies can help accelerate achievement of the SDGs, while grasping the benefits of new technologies can help accelerate investment in sustainable development.

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Navid Hanif, (Director of Financing for Sustainable Development Office, UN) and Philipp Erfurth, (Economist)

“Investment in emerging technologies can help accelerate achievement of the SDGs, while grasping the benefits of new technologies can help accelerate investment in sustainable development.”
Amount invested in clean technology (mostly energy)
US$ 40 billion