Discussing SDG financing and the role of Integrated National Financing Frameworks

The event geographically covered the countries, participants in UN Special Programme for the Economies of Central Asia (SPECA), and aimed to facilitate dialogue and  exchange of experience on immediate response measures to mitigate the socio-economic impact of COVID-19 pandemic and link these measures to longer term goals on SDG financing through Integrated National Financing Frameworks (INFF).

This high-level event brought together ministers and deputy-ministers of finance and economy of SPECA Programme countries, as well as the representatives of UNDESA, UNECE, World Bank, IMF, ADB, IDB, EBRD, UNDP, UNICEF, UNFPA and experts of a number of UN agencies and other international organizations. The USG, Executive Director of UN Economic Commission for Europe, Ms. Olga Algaerova, briefed the participants on the ongoing consultations between the SPECA countries on the possibility of establishment of a SPECA Fund as a sub-regional instrument for SDG financing.

As noted by Ms. Elena Panova, the UN Resident Coordinator in Turkmenistan

“International seminar in such format provides a unique platform for exchange of experiences among ministries of finance and economy of the SPECA Programme countries regarding short-term responses to socio-economic consequences of COVID-19 and longer-term SDG financing strategies.  This is first such dialogue of ministers and deputy-ministers of finance and economy at regional level on financing for sustainable development, organized at a time of pandemic, and we hope that the exchange of experience in this format will continue in the future”.

Building on the discussions of the fifth Forum of the Economic and Social Council on Financing for Development, held on 23 April 2020, the International seminar facilitated regional level reflections of the outcomes of the ECOSOC forum.  Discussions also highlighted the importance of addressing existing structural weaknesses, highlighted by the pandemic, such as the need for better financing of the health sector, education, social protection and addressing inequalities. The outcome of the International seminar will feed into the discussions of the High-Level Event on Financing for Development in the Era of COVID-19 and Beyond convened by UN Secretary-General António Guterres and is planned today in New-York.

The international seminar resulted in the adoption of the Statement of participants that outlines the summary of discussions, recommendations and follow up actions related to linking short-term financial stimulus measures in light of COVID-19 with longer term SDG financing at country level, including through the establishment of integrated national financing frameworks.