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Development Account Projects

Financing strategies for inclusive, equitable and sustainable development in Asia and the Pacific

Background:

The project aims to increase knowledge and capacities of policy makers in developing countries in Asia and the Pacific for mobilizing domestic and international resources, any other mixes of financial sources as appropriate, in support of financing infrastructure development for sustainable development. A coherent and coordinated financing strategy is expected to narrow the sustainable development gaps through calibrated policies in infrastructure development in the region. ESCAP can help forge selected member States to develop financing strategies that can serve as practical policy actions to mobilize financial resources for infrastructure development.

This project will initially undertake primary diagnosis and analytical work on trends and dynamics of financial markets, especially in relation to requirements, availability and sources of financing for infrastructure development. This is required to evaluate how financial markets can better support infrastructure development and how more resources can be mobilized from the financial sector with appropriate financing strategies in developing countries including in least developed countries, landlocked developing countries and small island developing States in the region. The project will then provide support to the policymakers of the five selected countries (Bhutan, Georgia, Philippines, Samoa and Viet Nam) in the region to identify and implement specific policy and financing options that may be best suitable for mobilizing domestic and international resources in support of financing infrastructure development.

The project will be executed by ESCAP, in partnership with relevant UN entities including DESA (Financing for Development Office) and UNDP, and drawing expertise from the Asian Development Bank and International Finance Corporation/The World Bank.  ESCAP will further enhance its collaboration with existing regional, subregional institutions (ASEAN, SAARC, PIFS and ECO), national think-tanks, academia, NGOs and private sectors.

Objective:

To enhance capacity of selected countries in the Asia-Pacific region to mobilize domestic and international financial resources through efficient, equitable and robust financing strategies and institutional frameworks to improve infrastructure development in support of inclusive growth and sustainable development.

Expected accomplishments:

  • Improved understanding among policy makers and major stakeholders (institutional investors, private fund managers and large banks) of financing needs for achieving sustainable infrastructure development and increased knowledge and awareness of financing sources and modalities in areas of infrastructure finance.
  • Increased capacity of policy makers and major stakeholders in the region to prepare national financing strategies that mobilize domestic and international resources in support of infrastructure development to accelerate sustainable infrastructure development.

Implementation status:

In progress.