New York - The 2025 Dialogue on Public Finance and the SDGs commenced today at Columbia University, New York, co-hosted by the Governments of Finland and Norway, the United Nations Development Programme (UNDP), and Columbia University. Running from January 29 to 31, 2025, the event will foster innovative financial solutions to accelerate the achievement of the SDGs amidst unprecedented global challenges.

As we approach the final years of the 2030 Agenda, the international community faces significant obstacles in sustainably and equitably funding the SDGs. Developing countries are confronted with a precarious financing landscape characterized by rising debt servicing costs, projected to increase from 26 billion in 2022 to over 40 billion by 2025. With only 17% of assessable SDG targets currently on track, achieving sustainable development necessitates a fundamental transformation in public finance approaches.

Achim Steiner, UNDP Administrator, opened the Dialogue by emphasizing the urgent need for collaboration: "Public finance is at a crucial moment, with close to one-third of the SDGs experiencing setbacks and a significant financing gap endangering our collective goals for development. We must prioritize sustainable, fair, and transparent public finance to bridge this gap and re-establish trust between citizens and states. Together, we can build a resilient future that leaves no one behind."

The 2025 Dialogue builds on the successes of previous events, including  the 2023 Dialogue on Tax and the SDGs, which 370 participants from 61 countries. This year’s discussions will focus on various aspects of public finance, including gender-responsive public finance, financing for health and well-being, and the role of public finance in crisis contexts. It aims to identify innovative public finance approaches, facilitate knowledge exchange on integrated strategies for sustainable development, and develop actionable recommendations for the upcoming Financing for Development conference.

Joseph Stiglitz, Nobel Laureate in Economics and Professor at Columbia University, also addressed attendees, stating, "We are in a new economic world with a new economic paradigm. This is an exciting time for us to discuss how countries - including developing countries - can raise revenues in a way that ensures economic growth along with shared prosperity."

A diverse coalition of partners, including the International Monetary Fund (IMF), the Organisation for Economic Co-operation and Development (OECD), the United Nations Department of Economic and Social Affairs (UN DESA), and the World Bank Group (WBG), is supporting the Dialogue. 

Looking ahead, pivotal global discussions, including the 2025 Climate Change CoP in Brazil and the fourth International Conference on Financing for Development in Spain, present opportunities for transformative action. The 2025 Dialogue seeks to leverage these opportunities by bringing together diverse stakeholders to examine the interconnections between public finance and development outcomes, ultimately working toward more effective, equitable, and sustainable financial systems that serve all citizens.

Victor Garrido Delgado victor.garrido.delgado@undp.org

About UNDP:

UNDP is the leading United Nations organization fighting to end the injustice of poverty, inequality and climate change. Working with our broad network of experts and partners in 170 countries, we help nations to build integrated, lasting solutions for people and the planet. Learn more at undp.org or follow at @UNDP.

About UNDP SFH: 

The UNDP Sustainable Finance Hub brings together UNDP’s financial expertise to harness public and private capital for the Sustainable Development Goals (SDGs)- supporting governments, investors and businesses in reaching climate, social impact and sustainability targets. Its work drives systemic change towards a sustainable financial architecture that benefits people and the planet. 

Find out more about its integrated services that ensure all finance is sustainable, at sdgfinance.undp.org or follow @UNDP_SDGFinance