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UN says domestic financing crucial to success of SDGs

Xinhua, July 13, 2015 Adjust font size:

A senior United Nations (UN) official said on Monday that the proposed Sustainable Development Goals (SDGs) will only be a success if countries take ownership of them and take serious initiative to mobilize domestic finances.

The SDGs are a proposed set of targets relating to future international development and are expected to replace the Millennium Development Goals (MDGs) once they expire at the end of 2015. They will be adopted in September this year by UN member states.

Rekha Shrestha, UN Communication Specialists in Zambia told reporters that governments will need to do more to ensure that the goals become a reality and should not take them as mere UN goals.

"Governments should be the ones driving them. They need to do more; both developed and developing countries; both governments from the north and south. At the same time the new SDGs open an opportunity for private sector to come on board," she said.

She said the Third International Conference on Financing for Development which opens in Addis Ababa, the Ethiopian capital this week, will play a crucial role on the mobilization of finances for the successful implementation of the goals.

According to her, the SDGs have ambitious targets which will require seriousness on the part of governments hence the need for governments to put in place serious financing mechanisms.

"Both domestic and international financing will be crucial and governments should establish ways of incorporating the private sector in the implementation of the goals," she added. Endi