WASHINGTON, Oct. 18, 2018 - Today, the World Bank Group launched the Partnership Fund for the Sustainable Development Goals (SDG Fund) in support of global efforts to meet the SDGs. The aim of the multi-donor SDG Fund is to incentivize catalytic activities that strengthen SDG implementation, equipping countries with tools and best practices to achieve their sustainable development objectives ahead of 2030.
“We saw a funding gap for high impact strategic initiatives at the global, regional and national and local levels that could help to catalyze countries development trajectories for the SDGs,” said World Bank Group Senior Vice President Mahmoud Mohieldin. “The SDG Fund will complement the Bank Group’s efforts at the country level and focus on cross-country capacity building, quality data, knowledge generation, and multi-stakeholder partnerships.”
Sweden is the first partner to help launch the SDG Fund with an initial contribution of USD 7 million. The idea of the SDG Fund grew from initial collaborations between Sweden and the World Bank Group on “SDG Financing” and “SDG Trajectories”. Through these initiatives, a shared vision developed between Swedish International Development Cooperation Agency (Sida) and the Bank Group that many more catalytic innovations could be developed through continued collaboration.
“With the 2030 Agenda and the SDGs, countries have committed to a solid and ambitious framework for sustainable development. Both for people today and for future generations,” said Sida Director General Carin Jämtin. “The World Bank Group is a critical partner in our collective efforts to support countries achieve the Goals. We look forward to further strengthening that partnership through the SDG Fund.”
The first 16 SDGs prioritize action on human, economic and environmental pillars as well as peace and security. SDG 17 is the primary focus of the SDG Fund, with its strong commitment to the means of implementation. Goal 17 promises support through global partnerships and cooperation, finance, data, trade, capacity building and peer-to-peer collaboration.
One of the first funding allocations will support a Bank Group activity to develop new methods to enhance the welfare impact of private sector investments. The Knowledge Support to Welfare Analysis of Private Sector Interventions activity will help create and share analytical frameworks, tools and data to mainstream welfare and inclusive growth impacts in development operations in line with SDGs to End Poverty (SDG1), Promote Sustained and Inclusive Growth (SDG8) and Reduce Inequality (SDG10).
The SDG Fund will also support the Refugee Investment and Matchmaking Platform, which aims to bring local business, global corporations, foundations, philanthropic investors and the development community together to create opportunities for refugees and host populations. Supporting small and medium enterprises across refugee and host communities, the Platform will enable a multi-stakeholder investment catalyst instrument, business-to-business matchmaking, end-skill building, and knowledge embodied in SDG 16.
In response to the need for access to good quality data for the goals, the SDG Fund will support the 2020 Vision for a data-driven exploration of SDG monitoring and implementation. The activity will develop a series of SDG data-driven case studies that help national, regional and global policy makers strengthen awareness of how individual SDGs are being measured, monitored and invested in. It will also support the SDG Atlas, offering a comprehensive perspective of trends and new data for all 17 Goals.
With new partners joining, the SDG Fund is intended to continue to support other innovative activities over the next four years.