The Macroeconomic Policy Division of the ECA is convening an Expert’s Meeting to review the draft Report on “Innovative Approaches to Financing the Sustainable Development Goals (SDGs) in Africa”.
Mobilization of sufficient financial resources to finance Africa’s development agenda has become a challenge in a very dynamic global environment. Domestic resource mobilization in Africa will be critical to meet the continent’s development financing needs. Compared to official development assistance and international private finance, domestic resources provides a more sustainable and less volatile base to finance the sustainable development goals of Agenda 2030. Therefore, while addressing illicit financial flows, the need for mobilizing additional resources to finance Africa’s development agenda has led to a search for innovative sources of development finance.
Given the role of finance in attaining the structural transformation agenda premised on African-owned and African-driven developmental initiatives, the study attempts to investigate innovative mechanisms of financing Africa’s structural transformation and examines the key challenges that African countries face in innovatively mobilizing domestic and external resources to finance agenda 2063 and SDGs. The draft report reviews the international experience of innovative sources of finance for Development beside closely examining how African countries innovatively have mobilized both domestic and external innovative sources of sources of finance based on five sample countries from the region. The study also assesses how African countries innovatively mobilize traditional sources of finance before concluding the study by providing some policy recommendations. The expert group meeting will bring together researchers and policy makers to discuss the issues identified above.
Date: 17 October 2017
Venue: Caucus # 7, UNCC, Addis Ababa