Finally, he called for concerted efforts to diversify sources of finance to fuel sustainable development. Countries should mobilise domestic resources to strengthen the health, education and infrastructure sectors. They should also try to increase blended finance options in collaboration with the private sector, he added. Governments must also find ways to effectively fight corruption to prevent misappropriation of critical funds, he highlighted.
“At the global level, we must keep working to shape an inclusive and effective global tax regime and ensure that international taxation rules are applied fairly and effectively. Donors must keep their promises on official development assistance, and ensure those precious resources reach developing countries,” Guterres noted.
UN teams across the world will also help ensure that a higher volume of resources are channelled for sustainable development at all levels, he said. He also indicated that global platforms, such as the 30th Conference of Parties to the UN Framework Convention on Climate Change to be held in Brazil, will be utilised to identify innovative sources of climate finance for developing countries, “leading to the mobilization of $1.3 trillion annually by 2035”.
