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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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Setting the scene

In the closing months of 2015, the United Nations General Assembly adopted an ambitious, all-encompassing agenda to guide the advancement of humankind for the next 15 years. The Sustainable Development Goals (SDGs) and the Addis Ababa Action Agenda on Financing for Development, collectively known as the 2030 Agenda for Sustainable Development (or ‘2030 Agenda’), called on all countries to advance the welfare of societies, economies and the environment. Science, technology and innovation (STI) were identified as key means of implementation for the 2030 Agenda.

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