Bangkok, June 12, 2023: The Integrated NationalFinancing Framework Facility (INFF Facility), UN Development Programme (UNDP), UNDepartment of Economic and Social Affairs (UN DESA), UN Economic and SocialCommission for Asia and the Pacific (UNESCAP) and European Union today host theRegional knowledge exchange – Financing Sustainable Development inAsia-Pacific Region in Times of Volatility and Uncertainties – in Bangkok,Thailand.
The two-day event enables governmentministers, international financing institutions (IFIs), development financinginstitutions (DFIs), academia, banks, bond issuers and civil society, to share theirexperiences of implementing integrated national financing frameworks (INFF).
TheINFF can promote changes in the national financing architecture to better alignall financing flows towards the SDGs and Nationally Determined Contributions (NDCs)using the full range of policies, financing instruments and partnerships. The UNSecretary-General highlighted the importance of INFFs which are being used by over85 countries, in the SDG Stimulus to DeliverAgenda 2030, calling them “an ideal tool for countries toset out their key financing policies.”
As the world hits the mid-waypoint of the implementation of the 2030 Agenda, none of the countries in AsiaPacific is on track to reach them. Many countries inthe region suffered two consecutive years of decline in the Human DevelopmentIndex (HDI) and other indicators, as existing development challenges wereexacerbated by COVID-19 and other compounding crises.
Against this backdrop, sustainablefinancing is increasingly playing the role as an enabler that can scale up theprogress towards the SDGs and the Paris Agreement. In response, the Asia-Pacificregion is leading in the use of the INFF, making up nearly a fifth (19%) of allcountries adopting them. Mongolia was the first country worldwide to endorseits INFF financing strategy last year and the Maldives recently launched theirgender-responsive climate financing strategy, the first to directly supportnational contributions to the Paris Agreement. Many other Asia-Pacificcountries are finalizing their financing strategies and now turning toimplementation.
Marcos Neto, Director of UNDPSustainable Finance Hub commented: “INFFsare being used by Ministries of Finance and Planning to mobilise and aligncapital with sustainable development and climate action priorities, unlockingSDG policy space even within a challenging global and regional context. As welook to the second half of the SDG timeline this exchange will provide animportant forum for countries to learn from one another and identify areas forcollaboration and partnership. We applaud the Asia-Pacific countries for takingthe initiative to adopt the INFF approach and sharing their experiences withtheir peers.”
Navid Hanif, Assistant Secretary-General forEconomic Development in the Department of Economic and Social Affairs (DESA)added: “To achieve the SDGs, we must “future-proof” thepolicy architecture and move toward long-term oriented financing models.Integrated financing strategies can play a key role in enhancing risk-informedfinancing policies, providing financing for resilience, and financing that isresilient. It is in within this context that the INFF methodology provides afoundation for action.”
HamzaAli Malik, Director, Macroeconomic Policy and Financing for DevelopmentDivision, UN ESCAP stated: “Recent multifacetedcrises have weakened economic performance, rising interest rates and debtvulnerabilities and exacerbating the challenges of financing the SDGs andclimate action. In this context, INFFs can help Asia-Pacific countries alignrelatively limited financial resources with the ambitions of the 2030 Agenda forSustainable Development. It is encouraging to see more and more Asia-Pacificcountries using INFFs with support from the UN Development System and sharingtheir experiences with each other.”
Sara Rezoagli, DeputyHead of the EU Delegation to Thailand said: “The EU has been a strong supporter of INFFs since the beginning as webelieve it is a key tool for Asia-Pacific countries to achieve the SDGs and theobjectives of Paris Agreement. By strengthening transparency and supportinglong-term investment and planning, INFF represents a great opportunity not onlyto scale up sustainable finance but also to achieve sustainable and inclusivegrowth. This is why the EU, as Team Europe and in cooperation with partnerslike UNDP and UNEP, will continue supporting countries in building a conduciveenvironment for sustainable finance, including providing advice throughtechnical assistance and capacity-building support.”
About the INFF Facility
The INFF Facility is a joint initiative of theUnited Nations Development Programme (UNDP), the United Nations Department ofEconomic and Social Affairs (UN DESA), the Organisation for EconomicCo-operation and Development (OECD), the United Nations Children’s Fund(UNICEF), the European Union and the Governments of Italy, Spain and Sweden. Itsupports countries developing INFFs.
The Facility brokers technical assistance,facilitates knowledge exchange and provides access to technical guidance. Ithelps governments and their partners at the national level realise thepotential of the INFF approach to accelerate progress towards nationalsustainable development objectives and the SDGs.
The Facility was launched at the 2022 Financing forDevelopment Forum, following the endorsement by G20 Leaders of the G20Framework for voluntary support to INFFs in October 2022. In its first year ofoperations the Facility has responded to requests for technical assistance from11 countries worldwide, provided technical support to 19 countries in theprocess of developing their financing strategy and facilitated exchange betweenpolicymakers from 59 countries.
About the INFF
Integrated national financing frameworks (INFFs) help countries financetheir national sustainable development objectives and the Sustainable DevelopmentGoals (SDGs).
ThroughINFFs, countries develop a strategy to mobilise and align financing with alldimensions of sustainability, broaden participation in the design, delivery andmonitoring of financing policies, and manage risk.
INFFsare voluntary and country-led. They are embedded within plans and financingstructures, enabling gradual improvements and driving innovation in policies,tools and instruments across domestic, international, public and privatefinance.
To build cohesion and encourage knowledgeexchange between countries implementing INFFs around the world, the INFFFacility, in cooperation with a growing network of partners, is developingjoint approaches to bring together expertise, tools and relationships insupport of country-led INFFs. To learn more about thecountries implementing an INFF visit INFFe-learning course. Formore information about INFFs, visit www.inff.org.
