Major UN report on sustainable financing says global financial architecture must be revamped, Bangkok, 10 April 2019
Bangkok launch: 10 April 2019, 11.00am, FCCT Bangkok
This major UN report takes stock of the progress countries are making in mobilizing financing to achieve the Sustainable Development Goals. Now in its fourth year, the “Financing for Sustainable Development Repot 2019” evaluates the global landscape and makes recommendations for governments before the Spring Meetings of the World Bank and IMF and the ECOSOC Forum on Financing for Development.
While interest in sustainable financing is increasing, the transition to a sustainable economy is not happening at the required scale. At the same time, systemic risks are rising, and the multilateral system is under strain. The 60 agencies, including ESCAP, involved in writing the report calls for strengthened collective action to tackle global challenges as well as national policies to align domestic financial systems with sustainable development, including addressing short-term incentives in financial markets. It finds that a failure to reshape both national and international financial systems will result in the failure of the international community to deliver the 2030 Agenda for Sustainable Development, including eliminating extreme poverty and combatting climate change.
Media representatives are cordially invited to attend the report launch in Bangkok:
When: Wednesday, 10 April 2019, 11.00am – 12.00pm (light refreshments will be served)
Where: Foreign Correspondents’ Club of Thailand, Penthouse, Maneeya Center Building, 518/5 Ploenchit Road, Pathumwan, Bangkok
- Mr. Hamza Malik, Director, Macroeconomic Policy and Financing for Development Division, United Nations ESCAP
- Ms. Tientip Subhanij, Chief, Financing for Development, Macroeconomic Policy and Financing for Development Division, United Nations ESCAP
- Mr. Thomas Beloe, SDG Finance Advisor, UNDP Bangkok Regional Hub
The “Financing for Sustainable Development Report 2019” is a joint product of the Inter-agency Task Force on Financing for Development. The full copy of the report and the annex are available at: https://developmentfinance.un.org/
To complement this global report, ESCAP has also produced a report on “Financing for Development in Asia and the Pacific: Highlight in the context of the Addis Ababa Action Agenda, 2019 Edition”. The report highlights the region’s current situation and progress in multiple areas of financing for development. The full copy of the report is available at: https://www.unescap.org/resources/financing-development-asia-and-pacific-highlights-context-addis-ababa-action-agenda-2019
Similarly, building on a central feature of the Addis Ababa Action Agenda (AAAA), which calls for nationally-owned sustainable development financing strategies, the Integrated Financing Solutions collection of case studies has been developed by UNDP with support from the Asian Development Bank. The full report can be found here: http://www.asia-pacific.undp.org/content/rbap/en/home/library/sustainable-development/integrated-financing-solutions.html
Ms. Kavita Sukanandan, Public Information Officer, Strategic Communications and Advocacy Section, ESCAP, T: (66) 2 288 1869 / E: [email protected]