Integrated National Financing Frameworks (INFFs)
INFFs aim to establish an integrated financing reform agenda that supports the transition to SDG-centric budgeting. Through summative research and drawing on a toolbox of empirical models and dynamic simulations, national financing strategies are advanced to harness investments of all kinds to bridge the SDG-financing gap.
Integrated National Financing Frameworks encompass an integral set of tools, processes and methods to overcome existing barriers to financing sustainable development at the country level. These frameworks present a full range of financing sources and channels (public, private, domestic, international, innovative, traditional and debt-financing) that could be tapped by national authorities to finance the SDGs, thereby allowing countries to develop a home-grown strategy to mobilize investments, manage financing risks, and achieve sustainable development priorities, as identified in a country’s national sustainable development strategies.
An INFF spells out how national sustainable development strategies and sector plans will be financed, implemented and monitored. INFFs are developed on the basis of four building blocks that seek to ensure the following:
- Provide detailed analytical assessment and diagnostics of the financing landscape.
- Develop the financing strategy, including the necessary medium-term revenue strategies to bridge the SDG-financing gap by exploiting all channels, conduits and modes of financing.
- Monitor and review the implementation of INFFs and identify the supporting regulatory and institutional reforms needed.
Establish the governance and coordination requisites to ensure that countries are placed on a sustained path to finance their national ambitions under the 2030 Agenda.
To date, most countries have begun preparing voluntary national reviews, but seldom assign a price to achieving the SDGs or indicate how they would be financed at the national level. Equally, national development plans outline a country’s vision for sustainable development, and the steps needed to achieve that vision. Yet, most plans and strategies lack concrete plans for how to finance these actions — a critical missing link that leaves many SDGs underfunded. To support countries in implementing INFFs, ESCWA, alongside other executing agencies including the United Nations Department for Economic and Social Affairs, the United Nations Conference on Trade and Development, the Economic Commission for Latin America and the Caribbean, the Economic Commission for Europe, the Economic Commission for Africa and the Economic and Social Commission for Asia and the Pacific, has put forward a Development Account project entitled “Towards integrated national financing frameworks”. The project aims to support countries in navigating an increasingly complex financing landscape, enhance coherency between the different financing channels, and help mobilize additional financing towards sustainable development.