Financing for Development: Progress and Prospects 2018 – UN DESA

Development Financing

Financing for Development: Progress and Prospects 2018
Report of the Inter-agency Task Force on Financing for Development
UN DESA
April 2018 :: 201 pages
PDF: https://developmentfinance.un.org/sites/developmentfinance.un.org/files/Report_IATF_2018.pdf
Abstract
The 2018 report of the Inter-agency Task Force on Financing for Development finds that most types of development financing flows increased in 2017, and that there has been progress across all the action areas of the Addis Ababa Action Agenda. This progress was underpinned by an upturn in the world economy, but at the same time the report warns that risks could derail development progress and structural impediments continue to undermine sustainable development prospects.

The 2018 report provides policy options which, if implemented, would put the world on a sustained and sustainable growth and development path. It also examines the financing challenges to the SDGs under in-depth review in 2018 to help assess progress in the means of implementation for goals on water and sanitation, affordable and clean energy, sustainable cities and communities, sustainable production and consumption, and terrestrial ecosystems.

The 2018 report is the second substantive assessment of progress in implementing the Financing for Development outcomes and the means of implementation of the Sustainable Development Goals since the adoption of the 2030 Agenda for Sustainable Development and the Addis Ababa Action Agenda. The assessment draws on the expertise, analysis and data from almost 60 agencies and international institutions that make up the Task Force, which is led by UN DESA and includes the World Bank Group, the International Monetary Fund and the World Trade Organisation, as well as UN agencies such as UNCTAD and UNDP.
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Press Release
Short-termism impedes progress of hundreds of millions of people, United Nations report says
13 April 2018, New York
Major report released in advance of the G20 and World Bank/IMF Spring Meetings

The prospects of around 800 million of the world’s poorest people remain dire. The global economy is experiencing a moderate upturn, and momentum around sustainable investing is growing, the UN said today.But the vast majority of investment is still short-term oriented and commitments by the international community to create sustainable economies are not being met.

There is an increasing interest in socially responsible investing, but that is no substitute for a broader transformation in the financial system. The report states that the current system rewards investors, financiers and project managers that prioritize short-term profits. Similarly, policy makers are excessively focused on short-term considerations. But there is a price to pay. Infrastructure projects are shelved in favour of short term priorities. Small businesses and women remain excluded from the financial system.

“The good economic news in some regions masks the very real risk that the poorest will be left behind,” said LIU Zhenmin, Under-Secretary-General for the United Nations Department of Economic and Social Affairs. “There is no room for complacency.”…