MOPAN High Level Political Forum on Sustainable Development
11/07/23, New York - MOPAN co-hosts High Level Political Forum on Sustainable Development with Permanent Mission of Italy, Indonesia and Costa Rica in New York.
Sustainable Financing at a time of poly-crisis: Creating ties that bind
The protracted effects of the Covid-19 pandemic, the consequences of the Russian war of aggression against Ukraine, food insecurity and soaring inflation are impacting global stability and economy and exacerbating ongoing crises.
The discussion on sustainable financing of multilateral organisations – and in particular of the UN – is a long-lasting discussion. It is a central discussion: if the multilateral system is to deliver results, it must be financed in the “right” manner.
And yet, while multilateral financing has increased nearly 40% in the past decade, nearly all this growth has been in inflexible, project-based earmarked funding. The Secretary-General’s Funding Compact highlighted transformative shifts proposed to the membership to ensure a more sustainable financing model for the UN Development System.
To overcome the longstanding dichotomy between “core” and “non-core” resources, a third way was proposed to encourage quality non-core resources: the management of development-related inter-agency “pooled funds” and single-agency “thematic funds”.