domestic resource mobilization

Africa Union Inputs for an Elements Paper on Financing for Development

Africa Union Inputs for an Elements Paper on Financing for Development

As the world prepares for FfD4 in 2025, it is imperative that the global community come together to formulate a unified and stronger vision for mobilizing the adequate financial resources needed to achieve the  UN Sustainable Development Goals as well as support the achievement of the African Union Agenda 2063.  Building on the foundations of the 2015 Addis Ababa Action Agenda, which established a comprehensive framework for financing sustainable development, the FfD 4 outcome document should recognize the unique and complex challenges faced by African countries and call for enhanced international support to address issues such as domestic resource mobilization, external debt challenges, and cost effective access to international financial markets in order to promote inclusive growth and sustainable development in Africa.

Elements Paper For The Outcome Document Of The Fourth International Conference On Financing for Development1

Elements Paper For The Outcome Document Of The Fourth International Conference On Financing for Development1

Efforts have not been sufficient. The current international financial architecture falls short in mobilising the long-term financing necessary to address multiple challenges. New and emerging issues require innovative financing solutions and reforms. Initiatives and efforts at the United Nations, international financial institutions and by Member States to scale up financing for development and reform the international financial architecture have generated momentum. Ambition must now be matched with concrete commitments and actions.