Embedding the SDGs within the allocation and expenditure processes of the national budget will enable scarce public finance to be favourably aligned with the SDGs and national development priorities.  Scrutiny over the budget and dialogue with citizens on the most effective utilisation of public funds for SDG delivery can also be enhanced, also strengthening the use of the budget in COVID-19 response and recovery, whilst accelerating progress towards the SDGs.

Strengthening the efficiency and effectiveness of domestic resource mobilization is critical both in terms of revenue generation and the direct impacts of tax policy on sustainable development.  Finance for the SDGs can be enhanced through the issuance of debt instruments that align with debt sustainability objectives and leverage finance directly for sustainable development outcomes. 

International public finance and south-south cooperation have an important role to play in supporting reforms. They must catalyse wider resources and means of implementation to advance the SDGs, and COVID-19 response and recovery. A growing number of emerging economies are becoming more active, offering new sources of finance, and transferring technology and expertise to contribute to achieving the SDGs, and build back better. International Finance Institutions have a critical role to play in this.

Enabling private sector capital to flow to SDG related investment at scale will require policy and regulatory shifts, better access to information on investment opportunities, and clear standards on the criteria for identification of SDG aligned investment. This will also enable a sustainable COVID-19 response and recovery that is aligned with the 2030 Agenda.

Adjusting business models to integrate a calculation of sustainable development returns into their balance sheets will help align private sector growth to the SDGs. This requires innovation in business practices, as well as change in goverment policy and regulation. Private Sector also plays a critical role in the COVID-19 response and recovery providing much needed innovation in the production of solutions to the crisis as well as the potential to stem the rise of unemployment, while critical support is needed to enable business to maintain their operations and to recover with their operations at scale. For a full description of services please see the UNDP Private Sector COVID-19 Service Offer, click Learn More

Strengthening the coherence of government systems to classify and track public finance and the frameworks used by the private sector to report on their development impact will be central to generating the data needed for decision makers to mobilize and align finance with the SDGs, which is also critical for integrated COVID-19 response and recovery.