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UNITED NATIONS, Feb 22 (IPS) – Versatile and predictable funding permits UN companies to reply promptly and with agility in occasions of disaster. In international locations corresponding to Afghanistan, Yemen, and Ukraine, UNDP implements tasks and programmes that assist shield livelihoods and improve the resilience of weak communities.
The UN has estimated that the world might want to spend between US$3 trillion and US$5 trillion yearly to satisfy the Sustainable Improvement Targets (SDGs) by 2030, whereas the COVID-19 pandemic has already elevated that estimate by a further US$2 trillion yearly.
As well as, the extremely fragile world financial outlook, impacts of local weather change and rising geopolitical tensions, have led to a significant deterioration in worldwide public finance, leading to 51 creating economies being extremely indebted, with the spectre of defaults looming on the horizon for over-indebted creating international locations.
Contemplating this darkish state of affairs of compounded disaster, the multilateral system is being known as upon to turn out to be extra fit-for-purpose to assist world public items and overcome world challenges.
It’s subsequently crucial that establishments such because the UN and Worldwide Monetary Establishments (IFIs) must bolster their partnership to supply coordinated, efficient, and focused assist to creating international locations’ widening wants for SDG financing.
In opposition to this backdrop and in response to the Addis Ababa Motion Agenda and UN Secretary-Normal’s Roadmap for Financing the 2030 Agenda for Sustainable Improvement, the UN System and IFIs have strived to work extra intently collectively to advertise sustainable and modern monetary programs at nation degree, and to catalyse extra non-public finance.
In 2018, for instance, UN Secretary-Normal António Guterres and former World Financial institution Group President Jim Yong Kim signed a Strategic Partnership Framework, which consolidated their joint dedication to cooperate in serving to international locations implement the 2030 Agenda for Sustainable Improvement.
UN companies have developed monetary and non-financial partnerships with IFIs with the goal to assist governments to leverage financing, technical experience, and advocacy from a wider vary of sources.
By becoming a member of forces, UN companies and IFIs can use and complement their respective comparative benefits in assist of nationwide improvement priorities and maximize improvement affect on the bottom.
Final week, the Govt Board of the United Nations Improvement Programme (UNDP) held its first common session of the 12 months in New York. It was clear that Member States are eager to see better engagement with IFIs to ship on sustainable improvement outcomes at scale.
As we’re gearing in direction of the SDG Summit, there’s a reckoning that we can’t do enterprise as traditional. We want all fingers on deck to make progress in direction of 2030.
This name for joint motion must also be a chance for Member States – normally the identical donors funding the UN system and IFIs – to mirror on the worldwide funding structure of the United Nations Improvement System (UNDS). The UNDS wants predictable, un-earmarked, and versatile sources to carry out its core features and protect the core values of multilateralism, universalism, and improvement effectiveness.
Nonetheless, a report by the Dag Hammarskjöld Basis factors out that OECD-DAC international locations’ funding to the UNDS is extra projectized and extremely earmarked than the World Financial institution and the Worldwide Financial Fund, or regional improvement banks.
On this second of immense world uncertainty, following the UNDP Strategic Plan, UNDP is scaling up its engagement with IFIs to assist international locations entry the capital, technical experience, and partnerships required to attain the SDGs.
Since 2017, UNDP has mobilized over US$1.85 billion from IFI companions, each straight by means of grant contributions and not directly by means of authorities financing to assist mortgage implementation.
In lots of fragile and conflict-affected states, UN companies, corresponding to UNDP, keep and ship, generally on behalf of IFIs who can’t all the time absolutely function in these settings. UNDP works in shut cooperation with the humanitarian system and throughout the event, peace, and human rights pillars of the UN system.
Versatile and predictable funding permits UN companies to reply promptly and with agility in occasions of disaster. In international locations corresponding to Afghanistan, Yemen, and Ukraine, UNDP implements tasks and programmes that assist shield livelihoods and improve the resilience of weak communities.
Member States and shareholders of Multilateral Improvement Banks and different IFIs acknowledge the synergistic and complementary mandates of many UN companies and IFIs. The partnership is or must be apparent in areas corresponding to sustainable finance, local weather motion, disaster and fragility, and poverty alleviation.
However because the world is confronted with unprecedented world challenges that require unparalleled ranges of partnerships and a powerful multilateral system, Member States ought to allow a deeper engagement between the UNDS and IFIs by means of sturdy political dedication backed by a funding structure befitting a world racing in direction of 2030.
Ulrika Modeer is UN Assistant Secretary-Normal and Director of the Bureau of Exterior Relations and Advocacy, UNDP. Steve Utterwulghe is Director of Public Partnerships, UNDP
Supply: UNDP
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