Channelling finance for people and the planet is critical. To achieve the 2030 SDGs, over 4 trillion dollars are needed to close the global financing gap. The finance needed is only 1% of the global wealth. However, it is not directed to the most needed areas of sustainable development.
With the UNDP moonshot to mobilize and leverage capital of 1 trillion USD towards the SDGs, we work on building a more sustainable finance architecture with public and private sector partners. UNDP possesses a unique position in shaping global economic governance and initiating systemic changes to make the finance work for economic development, social impacts and environmental sustainability.
UNDP Regional Bureaus work with UNDP Sustainable Finance Hub across 4+1 service offers:
Public Finance for the SDGs
Unblocking Private Capital and Aligning Business Operations for the SDGs
SDG Impact Management and Finance Tracking
Integrated National Financing Frameworks (INFFs) and portfolios
SDG Finance Academy
At the request of countries, we at UNDP Europe and Central Asia:
Ensure timely and quality support to meet country-level development demand
Tailor global UNDP service with national and regional context
Assist governments to learn from regional and global best practices
Build and strengthen partnership on SDG Financing
In the region, we work with country offices to:
Monitor regional trends and progress
Support learning and knowledge exchange on sustainable finance practices
Facilitate and introduce global initiatives to country contexts
Integrate Impact Management methodologies into project management
Regional trends and highlights
10+ countries in the region are involved in INFFs through the Joint SDG Fund, developing development finance assessment and financing strategies based on national development priorities and SDGs.
Budget tagging in Ukraine allows for the tracking and reporting of budget allocations and expenditures related to each SDG, facilitating transparency and accountability in achieving these goals.
In July 2021, Uzbekistan made a significant milestone by becoming the second globally to issue a Sovereign SDG Bond. This innovative financial instrument serves as a means to attract global investment resources and allocate them towards vital public projects aligned with SDGs.
Kyrgyzstan is introducing a requirement to assess the effectiveness of tax incentives within its new Tax Code, aligning them with national development priorities and SDGs. Supported by the INFF, it aims to optimize tax incentives, attract private investment, and generate additional revenue for financing key development strategies, fostering economic growth, and reducing poverty in the country.