The INFF process will assist the Government of Timor-Leste in improving governance and coordination, articulating a financing strategy and strengthening the monitoring and oversight framework. The INFF will building on the DFA, completed in 2019, to help diversify financing sources and grow the fiscal space in order to reduce the government’s reliance on petroleum funding. A strong INFF that mobilises pro-health taxation, diaspora financing through remittances and financing for climate-related SDGs will be a catalyst for increasing investments in sustainable development.
To achieve the SDGs and the country’s Strategic Development Plan goals by 2030, Timor-Leste needs to overcome two main challenges: (a) the lack of an existing national, holistic and integrated system of financing for the SDGs; and b) non-diversified development financing that is heavily reliant on the Petroleum Fund. To tackle these challenges, the INFF will establishing a coordination framework and identify and map innovative SDG financing options and opportunities.
For more details, visit the Joint SDG Fund website.