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Innovative Financing for Development in Asia and the Pacific

Government Policies on Impact Investment and Public Finance for Innovation

image of Innovative Financing for Development in Asia and the Pacific

To meet the ambitions of the 2030 Agenda for Sustainable Development, financing for development needs to be dramatically scaled up. Innovative financing has the potential to bridge this gap by attracting private sector capital to support development objectives and by repurposing private sector financing instruments to address persistent development challenges. This report features a diverse selection of case studies on innovative financing mechanisms that have been implemented across the Asia-Pacific region. The report calls for governments to provide incentives for the private sector to move from economic-driven investments to impact investments generating social, environmental and financial returns and offers strategic recommendations based on the lessons learned from experiences in the region.

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Innovative public funding models for science, technology and innovation

Traditionally, public funding for STI encouraged research excellence and private sector investment in research and development (R&D) and innovation. Recently, some governments have moved towards ‘problem-driven’ approaches to public financing of innovation. These approaches focus on solving specific social and environmental challenges through multisector collaborations, and problem articulation and definition with end-users is a critical feature of the process.

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