Complex and overlapping crises hold back the dynamics of human development. Rising inequalities and uncertainty caused by crises have a negative impact on the success of achieving the Sustainable Development Goals (SDGs). In order not to lose progress in achieving the SDGs, it is necessary to rethink and restructure the strategy and mechanisms for financing development.
Focusing on priorities and responding to crises, it is necessary to focus on achieving long-term goals. An integrated approach in the development and implementation of the three strategic pillars - long-term investment, strategic innovation and new financing mechanisms - can help countries move along the development trajectory.
As part of the Strategic Plan 2022-2025 UNDP proposes the development of integrated national financing frameworks as a systematic and innovative approach to empower SDG financing that works for people and the planet. These programs help improve financial flows and budget planning to achieve the Sustainable Development Goals. They are implemented by UNDP in more than 80 countries around the world through tools such as SDG budgeting in government programs, tax policy tools, private capital engagement, and the development of digital solutions to determine the needs and dynamics of funding for each sustainable development goal.
“We are looking at the full range of financial resources that countries need or already have. Resources for achieving the SDGs can be increased by prioritizing and improving the efficiency of the use of budgetary and extrabudgetary funds, as well as through the use of corporate finance, private sector investment and debt instruments.”
Aleksandra Solovieva, UNDP Resident Representative in Belarus
Part of the implementation of this approach in Belarus was a rapid due diligence assessment of the contribution of 24 state programs to the achievement of the SDGs, conducted by UNDP in Belarus, jointly with the Ministry of Natural Resources and the Environment and the Ministry of Economy. The results of the assessment were presented at the meeting of the Council for Sustainable Development, which was held in Minsk on November 18, 2022.
The study showed that the degree of integration of the SDGs into the state programs of Belarus is 60%. Experts noted the contribution of state programs to the SDGs in the field of healthcare and urban development.
Carrying out such assessments allows analyzing and most effectively allocating funds for financing priority areas of sustainable development, as well as attracting new sources of financing.
Comprehensive national frameworks help make SDG finance an important component of a national strategy for achieving the goals and align development finance with national needs.
For more information, please contact Aleksey Chistodarsky, Information and Promotion Officer of the United Nations Development Program (UNDP) in Belarus by email: alexei.tchistodarski [at] undp.org (alexei[dot]tchistodarski[at]undp[dot]org)
This article was originally published at UNDP Belarus
Note:
The Joint SDG Fund's joint programmes are under the prestige leadership of the Resident Coordinator Office and implementing United Nations Agencies. With sincere appreciation for the contributions from the European Union and Governments of Denmark, Germany, Ireland, Italy, Luxembourg, Monaco, The Netherlands, Norway, Portugal, Republic of Korea, Spain, Sweden, Switzerland and our private sector funding partners, for a transformative movement towards achieving the SDGs by 2030.
