The Permanent Mission of Canada, the Permanent Mission of Jamaica, the ILO, UNCTAD and UNDP invited all Financing for Development Forum 2021 participants to join a side on financing a COVID-19 recovery for a green, purple and digital transition that leaves no one behind.
The event served as an opportunity to update on the work of the three cluster areas in the context of the initiative "Financing for Development in the Era of COVID-19 and Beyond".
The discussion focused on public policies aimed at stimulating investments and employment opportunities for a green, purple, and digital recovery from the pandemic.
Country examples were shared to assess the initial impact of stimulus measures and financing gaps, as were countries' experiences in NDC and SDG-financing strategies, such as through the Integrated National Financing Frameworks (INFF) integrating COVID-19 related impacts.
The discussion also focused on options for expanding fiscal space, particularly in developing countries and aligning financing to the SDGs.
The urgency to develop a coordinated response to COVID-19 led the UN secretary-general and prime ministers of Canada and Jamaica to launch the "Financing for Development in the Era of COVID-19 and Beyond" initiative in May 2020 to promote financing solutions commensurate with the needs of a sustainable recovery and the SDGs.
UNDP, ILO and UNCTAD have been tasked to define the way forward to implement the menu of options resulting from that process for financing climate change, a socio-economic recovery and technology. The event provided an opportunity to update on progress in the process.
In addition, the event promoted an exchange of views on interrelated themes such as:
- The strengths and weaknesses of COVID-19 recovery plans to promote a sustainable and resilient future
- The role of global standards in facilitating the alignment of finance to the SDGs
- The role of macro-economic policies in promoting more resilient labour market outcomes and productive investments
- The implications of the digital transition for sustainable finance, and country experiences on SDG-financing strategies such as through the INFF integrating COVID-19 related impacts
Speakers included:
- Courtenay Rattray, Permanent Representative of Jamaica to the United Nations
- Robert Rae, Permanent Representative of Canada to the United Nations
- Gilson Pina, Director of National Planning at the Ministry of Finance, Government of Cabo Verde
- Sharan Burrow, General Secretary, International Trade Union Confederation
- Roberto Suárez Santos, Secretary-General, International Organisation of Employers (TBC)
- Marcos Neto, Director, Finance Sector Hub, UNDP
- Sangheon Lee, Director, Employment Policy Department, ILO
- Shamika Sirimanne, Director, Division on Technology and Logistics, UNCTAD
- Shahra Razavi, Director, Social Protection Department, ILO
- Chantal Line Carpenter, Chief, New York Office, UNCTAD
Watch the discussion
