{"id":26354,"date":"2017-05-22T12:30:53","date_gmt":"2017-05-22T12:30:53","guid":{"rendered":"https:\/\/www.un.org\/sustainabledevelopment\/?p=26354"},"modified":"2018-04-22T11:53:12","modified_gmt":"2018-04-22T15:53:12","slug":"financing-for-development-progress-and-prospects-report-of-the-inter-agency-task-force-on-financing-for-development-2017","status":"publish","type":"post","link":"https:\/\/www.un.org\/sustainabledevelopment\/blog\/2017\/05\/financing-for-development-progress-and-prospects-report-of-the-inter-agency-task-force-on-financing-for-development-2017\/","title":{"rendered":"Launch of the “Financing for Development: Progress and Prospects” Report of the Inter-agency Task Force on Financing for Development 2017"},"content":{"rendered":"

New York, 22 May\u2013<\/strong>Continued slow global economic growth is likely to leave about 6.5 per cent of the world population extremely poor in 2030 without national actions supported by international cooperation, according to a new report issued by the United Nations today.<\/p>\n

A continuation of the status quo would severely hamper efforts to achieve the Sustainable Development Goals by 2030. The Goals call for eliminating poverty by 2030.<\/p>\n

According to the 2017 \u201cFinancing for Development: Progress and Prospects\u201d report, under current trends, least developed countries (LDCs) are likely to fall short by large margins.<\/p>\n

Projections indicating that global gross product will grow at less than 3 percent over the next two years, and with slow growth in international trade\u2014it grew at less than 2 per cent per year in value terms 2011 to 2014, before declining by 10 per cent in 2015\u2014prospects for the poorest remain challenging.<\/p>\n

United Nations Secretary-General Ant\u00f3nio Guterres called on countries to take swift action: \u201cDespite the huge strides in the fight against poverty, made possible by globalization and technological progress, inequality has increased markedly around the world. Conflicts are proliferating and other megatrends such as climate change, food security and water scarcity, are putting the progress of the last few decades at risk.\u201d<\/p>\n

The report, which is led by the United Nations Department of Economic and Social Affairs, tracks progress on the Addis Ababa Action Agenda<\/a>, and draws on the expertise, analysis and data from over 50 international institutions that make up the Inter-agency Task Force on Financing for Development, including the World Bank Group, the International Monetary Fund and the World Trade Organization, Ä¢¹½ÊÓƵCTAD and Ä¢¹½ÊÓƵDP. The Addis Agenda, adopted at the Third International Conference on Financing for Development in July 2015, provides a global framework to support the implementation of the SDGs by ensuring the effective mobilization of resources at the national and international level.
\nThe report contends that many of the challenges that countries face\u2013including slow economic growth, climate change and humanitarian crises\u2013have cross-border or even global repercussions, and cannot be addressed by any one actor alone. It states that a steadfast commitment to multilateral cooperation for sustainable development should support national efforts.<\/p>\n

The Addis Agenda points to an infrastructure gap of $1 trillion to $1.5 trillion annually in developing countries, while estimates of the global gap generally range from $3 trillion to $5 trillion annually.<\/p>\n

To close these and other gaps, the report finds that there is an urgent need to increase long-term investments in sustainable development and to address economic vulnerability. Such investment will stimulate global growth, leading to a virtuous cycle. \u201cRamped-up investment in sustainable infrastructure will help stimulate sustainable and equitable global growth, and make available more resources for investment in achieving sustainable development,\u201d said Wu Hongbo, Ä¢¹½ÊÓƵ Under-Secretary-General for Economic and Social Affairs.<\/p>\n

About the Inter-agency Task Force on Financing for Development<\/strong><\/p>\n