The COVID-19 pandemic and the ensuing global recession are undermining fiscal and external balances in many countries. But even before the pandemic, financing emerged as one of the key challenges to Sustainable Development Goals (SDG) achievement.
In the Addis Ababa Action Agenda, UN Member States introduced the concept of integrated national financing frameworks (INFFs) to help countries better align their financing policies with long-term development strategies and plans. In the current context, INFFs can play a twofold role in supporting the crisis response. First, while a full implementation of an INFF will take time, some elements can support immediate response—e.g. a rapid assessment of the COVID-19 impact on the financing landscape or a rapid review of support options from the international community. Second, as countries review and reformulate national development plans from a post- COVID baseline, INFFs can be a valuable tool in helping formulate a comprehensive strategy for recovery and prepare for future risks—one that is aligned with the SDGs, the Paris Agreement, and that is sustainably financed.
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Published in November 2020
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