UN Agencies Host Side Event on Integrated national financing frameworks for Financing the Sustainable Development Goals at TIF 2024

The session provided an opportunity for participants to explore innovative financial mechanisms and share experiences on how to strengthen the country's capacity to mobilize resources for sustainable development. The discussions centered around identifying challenges, opportunities, and potential partnerships that can drive forward the successful implementation of SDG financing frameworks.

Vladimir Valetka, UN Resident Coordinator’s Office (RCO) Economist, presented findings of the SDG gaps analysis conducted jointly with the Ministry of Finance and Economy and Statistics Committee. In his remarks, Mr. Valetka briefly reviewed Turkmenistan’s progress on SDG implementation, reflecting on the global context and challenges facing many countries. He and other presenters from UNCTAD, UNDP and FAO outlined key lessons learned from both national and international efforts, highlighting successful approaches to sustainable development financing. With only 17 % of SDGs on track globally, the UN has agreed on SDG acceleration by prioritizing six key SDG transitions – interlinked and with high potential for systemic impact in most countries, including Turkmenistan. These transitions are rooted in the SDGs and include: (1) food security and water management; (2) green energy transition; (3) digital connectivity; (4) education; (5) jobs and social protection; and (6) climate change, biodiversity loss and pollution. In addition, UNCT and the Government prioritized (7) universal health coverage and (8) peace, justice and institutions.

Mr. Valetka’s presentation touched on the importance of well-designed and evidence-based integrated financial strategies in achieving the SDGs. He emphasized the need for innovative solutions and stronger collaboration between government entities, the private sector, and international partners to bridge an estimated financing gap of 2.8% of GDP annually up to 2030, essential for achieving the National Commitments to Sustainable Development Goals Transformation. These are substantive investments and 44% of them would focus on boosting human capital and supporting the most vulnerable. Another 37% would be required to enable economic transformation through structural changes by moving labor and other resources from lower- to higher-productivity sectors (from agriculture to manufacturing and renewables) and raising within-sector productivity growth (digitalization, green economy and transforming food systems). Apparently, successful economic transformation would require smart macroeconomic and structural policies, including deregulation, eliminating corruption, privatization and private sector development, better investment climate. The remaining 19% of the financing gap would be required to support the environmental pillar of development by adapting to and mitigating climate change, biodiversity loss and pollution. The Government can use these findings along with the development finance assessment to develop and implement a roadmap and financing strategies for implementing the integrated national financing framework (INFF). 

The side event underscored the UN’s continued commitment to supporting Turkmenistan in strengthening national financing mechanisms, promoting public-private partnerships, and aligning financial flows with the SDGs. Participants agreed that fostering a more inclusive and strategic approach to SDG financing and reducing data gaps is critical to advancing the 2030 Agenda for Sustainable Development.

This session represents an important milestone in the ongoing collaboration between the UN and the Government of Turkmenistan to develop sustainable and resilient financing strategies for the country’s future development. Specifically, the discussions will inform the UN programming, including the design of the new Cooperation Framework for 2026-2030. The UN will continue to work closely with national partners to consolidate financial resources and ensure that funding is effectively channeled towards key SDG priorities.