Financing for Development
Financing is key to the realization of the 2030 Agenda for Sustainable Development (2030 Agenda). For this purpose, the Addis Ababa Action Agenda (Action Agenda) canvassed a new Global Financing for Development (FfD) framework encompassing more than 150 iterative financing solutions, policy actions and commitments to finance the breadth of ambition embodied in the Sustainable Development Goals (SDGs).
The United Nations Inter-Agency Task Force on FfD concluded in 2018 that financing the implementation of the 2030 Agenda and the Action Agenda is currently materializing neither at the scale nor the magnitude that would enable the Arab region to achieve sustainable development whilst ‘leaving no one behind’.
The purpose of the Working Group on Financing Sustainable Development (WG-FfD) is to act as a regional hub for cooperation and coordination among the United Nations, the League of Arab States and their specialized organizations and agencies as well as relevant international financial institutions in the implementation of their work on financing for development in the Arab region, including undertaking joint initiatives and research on regional financing for development priority areas.
Membership in the WG-FSD is open to regional offices and bureaus of the United Nations Development System (members of the IATF and the SDG-SFRG), the League of Arab States and its specialized agencies as well as other institutional stakeholders (such as the Islamic Development Bank, the World Bank and the IMF).