development finance impact project mma
TRANSCRIPT
Development Finance Impact Project
Financing for development in developing countries
Project aimMy Target group is anyone who interest in and
desire to participate increase understanding of development finance for developing countries especial for Low - income.
Need to understand the fundamental concept of development concept, the source of funding and the role of finance in supporting the new sustainable development for achieving the sustainable development goal.
This project focuses on the supporting and achievement of the Sustainable Development Goals and development in general.
What is SDGs?Sustaiable development goals SDGs is the
opportunity to adopt a set of goals to end poverty, protect the planet, and ensure prosperity for all as part of a new sustainable development agenda.
Each goal has specific targets to be achieved
over the next 15 years. For the goals to be reached, everyone needs to do their part: governments, the private sector, civil society and people like you and me.
Type of SGDs
What are the constraint financing the SGDs?
Ease of tax administartion
Weak capacity for implementation
Trying to get effective and efffiecent tax policy
GDP to tax ration is remaining low
The SDGs therefore require a massive step up in domestic resource mobilisation
What is ODA? Official development assistance (ODA) is a term coined by the
Development Assistance Committee (DAC) of the Organisation for Economic Co-operation and Development (OECD) to measure aid. The DAC first used the term in 1969. It is widely used as an indicator of international aid flow.
ODA are official flows to or for developing countries that are provided: for developmental purposes
by the official sector (Government, public funds)
as grants or “soft loans” (ODA loans are at terms significantly softer than commercial transactions, and bear a “grant element” of at least 25% compared with a loan at 10%.)
It can play a catalytic role and bring in other sources of finance, it is concessional , it’s help fill the finance gaps.
The financing for development approach
The financing for development approach that we want to take is that we need to focus both on more financing and on effective financing. It's more money and smarter money to reach the SDGs. That development needs to be economically, socially and environmentally sustainable.
we are all stakeholders in the finance for development agenda.
The challenges of mobilizing the financing resources needed to help meet the SDGs.
Domestic resource mobilization has significant potential to finance development.
Domestic resources mobilization Limitation in Developing countries
Governance is an important constraint on resource mobilization in developing countries
Domestic resource mobilization is constrained by institutional weaknesses and political weaknesses and became governance problems
CorruptionAbsence of risk-sharing institutions prevents
investment in many potentially profitable sectors in developing countries
Improving the Domestic public Resources Improving good governance and fighting corruption Improve better tax policies, improve administration
and improving public expenditure efficiencyThrough a combination of tax policy and tax
administration effortsChange technology and practice to improve
collaboration and cooperationgood governance conditions can be achieved savers
will feel confident to save, investors to invest, and both will be served by accountable governments providing public goods
Improving the Domestic public Resources ( contd.)
Raising the revenue fairly and equitablyEnsure that when revenue is spent it leads to
improve service ( school, education, health etc.)Reduce remittance cost.Improving the investment climateReduce red tape impediments to doing business.Creat a new era of public private can
collaboration.Do blend finance.
Improving the Domestic public Resources ( contd.)
Rules of Law in PlaceIncentive for foreigne investorNeed more citizen voiceReducing Illicit financial flowImproves TransparencyA government unit needs to be responsible
for implementation, mornitoring and accountablitiy.
ConclusionSustainable development goals can not be achive in
developing countries without very sustainable mobliziation of domestic resources.
Importance of shifting production and comsumption patterns towards more sustaiable model.
By doing better investment climates, better tax collection, more efficient public funding with Multilateral Development Bank, Asia Development Bank and European Invesment Bank to reach the global goal.
Working with Global and regional partner.
resources
http://www.theguardian.com/global-development/2015/jan/19/sustainable-development-goals-united-nations
http://www.eurodad.org/files/pdf/552fab5135867.pdf
http://www.worldbank.org/mdgs/documents/FfD-MDB-Contributions-July-13-2015.pdf
https://class.coursera.org/fin4devmooc-001/wiki/Week_2_Video_Talks
December 2015