Expansion of the Joint SDG Fund’s Catalytic Investment Portfolio
The virtual event, co-organized with the Government of Spain and the Joint SDG Fund at the margins of the 2022 UN ECOSOC Financing for Development Forum will feature the Governments of Kenya, Madagascar, North Macedonia, Suriname and Zimbabwe in showcasing five new financing solutions to reduce the growing Sustainable Development Goals (SDGs) financing gap and rescue the SDGs.
The Joint SDG Fund is a multi-partner trust fund established by the UN General Assembly. Our mission is to activate integrated policy and financing levers as accelerators for achieving the SDGs. Selected from a pool of submissions from over one hundred countries, the proposals of Kenya, Madagascar, North Macedonia, Suriname, and Zimbabwe emerged as the strongest, most impactful, and investment-ready. Emerging results from the portfolio approved in 2021 already signaled the potential of investing in innovative finance as evidenced by Indonesia’s SDG bond of US$ 584 million, the Indonesia Impact Fund and Malawi’s BUILD fund – each being the first of its kind. The portfolio is expected to leverage US$ 5 billion toward the SDGs.
These concerted efforts respond to the challenges of our generation, from health to youth empowerment to climate change. These five solutions include a platform that encourages healthy sexual and reproductive habits, and HIV prevention in Kenya financed with the issuance of a development impact bond. Madagascar will use a variety of financial instruments, including a sovereign fund to fund renewable energy projects and expand people’s access to affordable and sustainable energy. In partnership with EBRD and local financial institutions, North Macedonia’s Green Financing Facility will accelerate households and businesses transition to renewable and efficient energy. Suriname will foster a guarantee facility, a business incubator, and a farmer-owned aggregator to develop a sustainable pineapple value chain. Zimbabwe is set to launch, through an ambitious renewable energy fund to upscale the renewable energy infrastructure while empowering women and youth.
Keynote by Under-Secretary-General Ms. Cristina Duarte, Special Adviser on Africa to the United Nations;
Remarks by Ms. Eva del Hoyo, Director General for Multilateral and European Development Policies, Spain;
Remarks and panel moderation by Ms. Diene Keita, Deputy Executive Director, UNFPA; and
Concluding remarks by Ms. Lisa Kurbiel, Director and Head of the Joint SDG Fund Secretariat.
Mr. Fatmir Bytyqi, Deputy Prime Minister in Charge of Economic Affairs of North Macedonia;
Mr. Albert R. Ramdin, Minister of Foreign Affairs, International Business, and International Cooperation of Suriname;
Mr. Andry Ramoroson, Minister of Energy and Hydrocarbons of Madagascar; and
Mr. Zhemu Soda, Minister of Energy and Power Development of Zimbabwe.