Leveraging Innovative Financing to fund the SDGs
JAKARTA, 16 NOVEMBER 2017 – The United Nations Development Programme (UNDP) hosted an international conference on innovative financing for development on 16-17 November in Jakarta. The conference was supported by the Government of Canada and aimed to capture the current trends in innovative financing and social impact and exploring new ways to harness the potential of innovative financing to assist countries achieve the Sustainable Development Goals (SDGs).
Two years since the SDGs were adopted, UNDP has been actively engaging the initiative to leverage more on innovative financing including but not limited to social finance, blended finance and Islamic finance. This conference will bring together UNDP officials, impact investors, social enterprises, foundations, financial institutions and development partners.
“By convening this conference and bringing all key stakeholders together, UNDP hopes to accelerate the leveraging of innovative financing so that more resources, including from the private sector, are mobilized for development in Indonesia and globally. Leveraging finance for the SDGs is an important contribution that the United Nations Development System, especially UNDP, can make to the 2030 agenda,” said Christophe Bahuet, Country Director UNDP Indonesia.
The conference also showcased concrete experience gained in this area. This included UNDP Indonesia’s innovative work in exploring new social and blended finance instruments, exploring the potential of Islamic finance for SDGs, launching crowdfunding campaigns for environment projects, supporting the establishment of a first sovereign wealth fund in Indonesia and setting up an Innovative Financing Lab. One of the latest innovations is Connector.Id – an online matchmaking fund, connecting entrepreneurs in the country with possible investors, which was launched at the conference.
“The Government of Canada sees a great value in advancing innovative financing that will help achieve the SDGs, and is delighted to be partnering with organizations such as UNDP on this issue in Indonesia. Canada’s new Feminist International Assistance Policy emphasizes the role that the private sector plays in stimulating economic growth, and seeks to engage in private sector partnerships that attract co-financing and investment in order to help identify new solutions to development challenges, and generate more opportunities for women and girls, the poorest and most marginalized”, said Ambassador of Canada to Indonesia, H.E. Peter MacArthur.
SDGs, are a universal call to action to end poverty, protect the planet and ensure that all people enjoy peace and prosperity. These 17 Goals build on the successes of the Millennium Development Goals, while including new areas such as climate change, economic inequality, innovation, sustainable consumption, peace and justice, among other priorities. UNDP Indonesia together with the Governments of Canada and Indonesia, academe, private sector, civil society and citizens are committed to achieve the goals by 2030.
Head of Communications Unit UNDP