FAO at the 2022 ECOSOC Forum on Financing for Development
Hybrid Event, 25/04/2022 - 28/04/2022
The 2022 ECOSOC Forum on Financing for Development is an intergovernmental process mandated to review the Addis Ababa Action Agenda and other financing for development outcomes, as well as the means of implementation of the Sustainable Development Goals (SDGs). This Seventh ECOSOC Financing for Development Forum will be convened by the President of ECOSOC, from 25 to 28 April 2022.
Experts and policymakers can benefit from the Addis Agenda’s operational framework to enable inclusive investments in the transformation of agrifood systems. The UN Food Systems Summit (UNFSS) set clear objectives to this end: (i) leveraging substantial resources; (ii) de-risking innovations; (iii) accelerating change; and (iv) mobilizing private capital, including from financial institutions, businesses and consumers.
The 2022 ECOSOC Forum on Financing for Development is the first such forum to take place after the UNFSS, and presents a unique opportunity to reflect on how to establish a robust finance architecture that prioritizes an inclusive and sustainable agrifood systems transformation. The recently released 2022 Financing for Sustainable Development Report will provide substantive inputs for discussions at the Forum. The report is a joint product of the Inter-agency Task Force on Financing for Development, which is comprised by over 60 United Nations agencies, funds, and programmes and other international organizations.
Monday, 25 April | 10:30 AM - 12:00 PM
Informal Meeting 'Financing the SDGs by increasing fiscal space for an inclusive and sustainable recovery'
The Director fo the FAO Liasion Office with the UN in New York, QU Guangzhou, will speak from the floor.
Join us for the FAO side event
Wednesday, 27 April | 12:30 PM - 2:30 PM (EST)
'Finance for Agrifood Systems Transformation in the context of the Addis Ababa Action Agenda'
The FAO Chief Economist, Máximo Torero, will participate.
The Deputy Director of the FAO Inclusive Rural Transformation and Gender Equality Division, Lauren Phillips, will moderate the event.
The side event will invite participants to reflect and exchange ideas around sustainable finance for more sustainable and resilient agrifood systems, including by linking the Food Finance Architecture and the Addis Ababa Action Agenda. Discussions will explore the link between sustainable finance and the resilience of agrifood systems, including on how public funds can support the recovery of farmers and the liquidity of micro, small, and medium-sized enterprises (MSMEs), including through social protection, on the heels of the COVID-19 pandemic.
About the 2022 Financing for Sustainable Development Report
The '2022 Financing for Sustainable Development Report: Bridging the Finance Divide' identifies a “great finance divide” – the inability of poorer countries to raise sufficient resources and borrow affordably for investment. This contributed to developing countries being unable to respond to the COVID-19 pandemic and will hold them back from responding to new crises and investing in sustainable development. Developing countries need reliable and affordable financing to invest in the SDGs.
The report recommends three sets of actions that can help to make progress in bridging the finance divide: (i) implement urgent measures to address financing gaps, rising costs of borrowing, and heightened debt risks; (ii) increase public financing for investment in public policy priorities and effectively spend mobilized resources on the SDGs and productive investment, ensuring the international community works to reduce borrowing costs and volatility from commercial sources; and (iii) address debt overhangs to reduce debt burdens. Find out more.