national financing strategy for Namibia, to access additional sources of finance for its development towards the sustainability development goals (SDGs). a logical thought process, moving from high-level opportunities to access sources of finance to a concrete strategy for achieving it.
1. FINANCING FOR SUSTAINABLE
DEVELOPMENT GOALS (SDGS)
Final Project
A case study of an EMDE country striving to eradicate poverty
World Bank Group MOOC, 2019
2. HOW MUCH WILL BE ENOUGH?…
The Sustainable Development Goals (SDGs) are a
collection of 17 global goals set by the United Nations
General Assembly in 2015 for the year 2030 (Agenda
2030). The United Nation (UN) estimates the gap in
financing to achieve the Sustainable Development
Goals (SDGs) at $2.5 trillion per year in developing
countries alone (UNCTAD, 2014).
Assuming Namibia is an EMDE striving to eradicate
poverty, given its population of 2.5 million. US$ 550
million (estimated figure) Domestic public and private
resource and international resources will need to be
mobilized for infrastructure development that can create
more employment whilst reducing poverty.
4. AVAILABLE SOURCES OF FUNDS
Total receipt-2017:
Namibia
FDI
OOF
ODA
PI
PR
Others
Where:
FDI-Foreign Direct
Investment (38%)
OOF-Other Official Flows
(25%)
ODA-Official Domestic
Assistance (14%)
PI-Portfolio Investment
(19%)
PR-Personal remittances
(4%)
Others-Personal grants
and Officially supported
export credits (6%)
Source: Authors own compilation, accessed from
https://public.tableau.com/views/Bigpictureoftotalresourcereceiptsbyyear/Byyear?:embed=y
&:display_count=yes&publish=yes&:showVizHome=no
5. UNDERSTANDING REVENUE MOBILIZATION
Revenue mobilization is a key
development priority and essential
to finance investments in human
capital and infrastructure to
achieve the World Bank’s twin
goals of ending extreme poverty
and boosting shared
prosperity. The basic key concepts
on domestic public resource
includes:
raising resources and using
fiscal systems to combat
inequality;
aligning fiscal systems with
environmental goals; and
strengthening international tax
cooperation and fighting illicit
financial flows
Improved tax reforms to
augment increase in tax collection.
6. ACCESSING FINANCE
To meet the Sustainable Development Goals (SDGs) by
2030,countries need to scale up financing from billions to trillions of
dollars. Private finance is the largest resource to fill up this gap,
collaborating in blended finance, including concessional finance and
integrated national financing framework as well as devise appropriate
rules and regulations that balance access to finance with financial
market stability,
Achieving SDGs
MDGs
Private
sector
Public
sector
To expand MDBs’ private sector
operations of lending and equity
investment to the private sector to
maximize leveraging impact.
supports the growth of
public-private partnerships (PPPs
which strategies are
needed in order to
better align business
activities with the
transformative
Agenda of the SDGs?
reallocate existing resources
toward sustainable development
investments and use them
effectively,
7. WORKING WITH WORLD BANK GROUP…
Developing country capacity to design critical
and sensitive policy reform
Investing in the modernization of tax
administration systems
Assisting on the development of Medium-Term
Revenue Strategies (MTRS)
Strengthening monitoring and evaluation of
reforms and implementation plans.
World Bank support includes provision of technical advice,
high- level policy dialogue and financing for:
8. POVERTY ERADICATION REQUIRES:
(a) political will;
(b) mobilization of the required resources
including human resources and expertise;
(c) networking with all the stakeholders; and
(d) formulation and adopting management
structures for better program coordination and
implementation to generate the expected
outcomes.
9. EFFECTIVE WAYS TO REDUCE POVERTY.
To mention but few…
Develop and implement rapid and sustained economic growth
policies and programs, in areas such as health, education etc…
Encourage countries to engage in trade as a path out of poverty.
Create and improve access to jobs and income and develop
entrepreneurial talent.
Providing all people with access to basic social services including
education, health care, adequate food, sanitation, shelter and clean
water.
Empower people living in poverty by involving them in the
development and implementation of plans and programs to reduce
and eradicate poverty.
Remove barriers to equal access to resources and services.
Provide access to technology and innovation including internet
access and affordable energy.
10. THE BIGGER PICTURE…
EMDEs
Integrated national financing network
Domestic Resource Mobilization (DMRs)
Curbing illicit financial flows and
promoting transparency and accountability
Working closely with Multilateral Development
Banks (MDGs) for assistance and guidance
11. CONCLUSION
To achieve the 2030 Agenda, global solutions need
to be complimented by national actions. For private
investors, embracing new and expanded markets
not only makes good business sense but, it creates
jobs and opportunities for people in the world’s
poorest countries.
Most importantly, achieving these goals should take
into account sustaining the environment without
compromising the ability of future generation to
meet their own needs and above all, curb issues
such as illicit financial flows etc…
