Harmonization of SDGs Financing
02.10.2020
On October 1, a two-day training seminar on the topic of:
"Coordination of the financing system for the sustainable development
goals in Kazakhstan". The session
reviewed the potential of the Institute for economic research to
contribute to ESCAP's planned assessment of SME financing. The SDG
financing methodologies and active collaboration with SMEs to implement
the SDGs were discussed in more detail. Key conceptual approaches to financing for development and recovery from the Covid-19 pandemic were explained to participants. In
turn, the Development Finance Assessment (DFA) is designed to support
the government's efforts to implement the 2030 agenda, providing a
framework for the government's approach to strengthening SDG funding
mechanisms. In
addition, UNDP has developed a number of tools to analyze existing
financial resources and identify opportunities to better mobilize
additional sources of funding to achieve the SDGs, including the DFA. SMEs are not
sufficiently developed in Kazakhstan. According to the World Bank
(2018), SMEs (including private and public sector SMEs) in Kazakhstan
account for 20% of GDP, but provide only 28% of jobs. For comparison, in
Saudi Arabia, SMEs account for 20% of GDP, while creating 51% of jobs,
in the United Arab Emirates, SMEs account for 30% of GDP, providing 86%
of jobs. Speaker Mr. Gregory DePaepe
presented the current development finance trends and practical next
steps for the Institute to implement the Joint Program work plan. As
part of the planned update of the DFA report, it is planned to assess
the costs of achieving the SDGs and determine financial targets for
public and private resources. The working session was aimed at a
concrete assessment of likely problems, risks and gaps in order to
develop the main analytical results of the Joint Program. The main
stages, practical requirements and key results of the work are
discussed. The result of working together
will undoubtedly have a positive effect, based on an analysis of
available data, key stakeholders and capacity needs. As
a result of the two-day seminar, the participants reached an agreement
on mutual cooperation to achieve the goal of updating and completing the
assessment of financing for development of Kazakhstan. Expected results: 2. Development of tools in the field of gender and children's budgeting; 3. Strengthening the national architecture for implementing the SDG
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