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The COVID-19 pandemic has triggered an unprecedented crisis in countries across the globe, halting economic activity and threatening public health and social wellbeing. There is a significant risk of backsliding on progress in achieving the 2030 Agenda and the Addis Ababa Action Agenda on financing for development. The pandemic has exacerbated existing vulnerabilities. Many countries are facing a decline in investments, growing debt burdens and severely reduced fiscal space. In the context of the Decade of Action and Delivery for the Sustainable Development Goals (SDGs), there is an urgent need to explore all available financing options to address the pandemic and mobilize the resources for a sustainable response and recovery.
This informal meeting of the Financing for Development Forum discussed concrete financing solutions in response to the pandemic in the framework of the Addis Agenda, paying particular attention to the needs of countries in special situations that face specific challenges in tackling the crisis. The meeting brought together experts from governments, international organizations, civil society and the private sector and will serve a dual objective: (i) to present concrete solutions to finance the response to the pandemic and (ii) explore policy options to set the world on a resilient and sustainable recovery. More information…