Tapping into Innovative Financing Instruments to Accelerate Sustainable Development: A Roadmap to Just Development Finance in Egypt

The Full Event Recording

Presentation of Egypt's INFF Strategy

Background

The global development landscape has changed dramatically over the past decades. Multiple challenges, including climate change, the recent global pandemic, and geo-strategic tensions have all threatened the capacity of national systems to achieve SDGs and preserve their development gains. These challenges have resulted in disruptions in global trade, a significant increase in the cost of strategic goods such as energy products and grain, and a gradual decline of FDI in developing nations. Additionally, many low and middle-income countries have been forced to concentrate their public spending to mitigate the impact of such challenges, which came at the expense of public spending in human capital, particularly education, healthcare, and employment.

The role of integrated and innovative solutions, country-led platforms, sustainable investments, de-risking and innovative financing modalities, south-south and triangular cooperation, and extensive technical expertise, have become more important than ever for achieving efficient policy reforms and sustainable investments that widen the private sector participation in the developing economies and emerging markets.

Egypt, through its principled economic diplomacy and its recognition of the importance of country-led platforms in accordance with the Global Partnership for Effective Development Cooperation (GPEDC), has committed to concrete transformative actions in the realm of financing for development. Egypt has taken considerable steps in enhancing the national development finance policies through various initiatives that are human-centric and address the multidimensional development challenges in a comprehensive and nationally-owned manner i.e. the Sharm El-Shiekh Guide Book for Just Financing, the Decent Life initiative, Takaful and Karama Program, and the Country Platform for the Nexus of Water, Food and Energy - NWFE Program, multiple debt-swap programs with bilateral partners, and the Hub for Advisory, Finance & Investment for Enterprises (منصة حــافِـز).

This comes in full alignment with the national commitments presented by Egypt during the SDG Summit in 2023. This also comes in-line with the country’s 2023-2027 Strategic Cooperation Framework with the UN (UNSDCF) and its commitment to financing the SDGs through various means including the Integrated National Financing Framework (INFF), which the government of Egypt has committed to implement with the United Nations in 2020, laying out the means of financing its national priorities by 2030. The discussions will shed light on the importance of alignment between developmental and financial planning, and how the presence of a supporting institutional framework is crucial to ensure this connection.

About this Event

The side event brings policymakers, global leaders, multilateral development banks, climate and green funds, the private sector, civil society, academia and research houses together to share their economic, social and environmental vision towards the future of the SDGs within the current multiple development challenges. This side event focuses on how innovative financing instruments and de-risking modalities can be leveraged to accelerate the implementation of the Sustainable Development Goals and attain national and global developmental priorities, with a particular focus on ensuring just and equitable development finance.

Egypt launches its financial strategy at this event which aims to provide a comprehensive national financing framework to enhance sustainable development in line with Egypt’s Vision 2030. The side event also presents an opportunity to facilitate discussions on innovative financial instruments that can mobilize private-sector investments to achieve sustainable development goals.

Where can i find the Summit of the Future side event page?

The event page is here.