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Attachments
Introduction
Financing for development remains one of the major issues all countries are grappling with, particularly the developing and least developed ones, given the huge challenge it poses to development plans and programs especially amid lacking resources needed to implement these plans and programs designed to achieve various economic and social goals, and improve the standard of living of States. The widening funding gap in these countries make them vulnerable and in need of resources and savings of others.
The ever-expanding international relations among the different countries, integration in resource mobilization and meeting funding requirements to achieve higher levels of economic safety and security for different peoples; amid shared sense by the international system represented by the various international institutions and global funding institutions towards social responsibility, as well as international partnership to achieve sustainable development goals; the United Nations system has adopted in its development and guidance agendas for developing and less developed countries, a set of strategies, technologies, tools, operations and means that are developed to support the establishment of national financing structures, in cooperation with Sustainable Development Bodies within the United Nations Group, with a view to overcoming barriers to development, and mobilizing resources, savings, local and international investments to finance sustainable development plans and programs.
The development process entails certain pre-requisites, including creating a conducive environment for attracting savings of others, mainly external savings, to ensure adequate safeguards and a positive working environment. This may include sufficient state-owned financial sources to meet its investment financing and production needs, while searching for new mechanisms that would ensure access to sustainable development funding, which is a shared…
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