Workshop on Supporting Cambodia in meeting the challenge of resource mobilization for achieving the 2030 Agenda for Sustainable Development

5 Nov 2018 to 6 Nov 2018
Phnom Penh, Cambodia

Financing needs in the least developed countries are disproportionately large relative to the size of their economies. To tackle these needs, the 12 least developed countries (LDCs) of the Asia-Pacific region require greater domestic resource mobilization, complemented by strong international support, to improve tax and other revenue collection. Countries also need to identify additional and innovative financing sources, as well as develop their financial markets in an efficient, fair and predictable manner.

These challenges have been highlighted by the global community through the 2030 Agenda and the Addis Ababa Action Agenda of the Third International Conference on Financing for Development (AAAA). The United Nations has already embarked on a number of plans of action to support the development challenges faced by LDC, including that of mobilization of domestic resources- namely the Istanbul Programme of Action for LDCs (IPoA, 2011-2020). Such policy issues for LDC have also been highlighted in ESCAP’s Regional road map for implementing the 2030 Agenda for Sustainable Development in Asia and the Pacific. ESCAP, as a United Nations Regional Commission, is critically placed to assist LDCs in the region in this subject due to its role as an intermediary in implementing the internationally agreed global and regional policy agendas at the country level in support of the United Nations country teams.

Cambodia, as an LDC, faces similar challenges. According to ESCAP research and analysis, it could cost around 12.7% of GDP per year to meet the infrastructure investment needs for Cambodia. Therefore, there is a need of mobilizing financial resources for Cambodia in order to narrow development gaps and to address the SDGs. Consequently, using the existing resources effectively and raising additional resources is a top priority for Cambodia.

The United Nations Economic Commission for Asia and the Pacific (ESCAP) therefore organized on 5-6 November 2018 a national workshop to support Cambodia in meeting the challenge of resource mobilization for achieving the 2030 Agenda for Sustainable Development.