Mahmoud Mohieldin, World Bank Group, said the Fund was created as the Bank noticed the existence of a funding gap for high impact SDG strategic initiatives at the global, regional and national and local levels.
The SDG Fund is intended to support innovative activities over the next four years, including a focus on cross-country capacity building, quality data, knowledge generation, and multi-stakeholder partnerships.
18 October 2018: The World Bank Group has launched the Partnership Fund for the SDGs (SDG Fund), a multi-donor fund to incentivize catalytic activities for SDG implementation, as well as to equip countries with tools and best practices to achieve the Goals. Sweden is the first partner to help launch the SDG Fund, with an initial contribution of US$7 million.
Mahmoud Mohieldin, World Bank Group, explained that the Fund was created in recognition of a funding gap for high-impact SDG strategic initiatives. He said the Fund will complement the Bank’s efforts at the country level, and also focus on cross-country capacity building, quality data, knowledge generation, and multi-stakeholder partnerships.
The first funding allocations will support, inter alia:
- ‘Welfare Analysis of Private Sector Interventions,’ which will help create and share analytical frameworks, tools and data to mainstream welfare and inclusive growth impacts in development operations in line with SDGs 1 (no poverty), 8 (decent work and economic growth), and 10 (reduced inequalities);
- The ‘Refugee Investment and Matchmaking Platform,’ which will support small and medium enterprises (SMEs) across refugee and host communities by enabling a multistakeholder investment catalyst instrument, business-to-business matchmaking, end-skill building, and knowledge enshrined in SDG 16 (peace, justice and strong institutions); and
- The ‘2020 Vision for a data-driven exploration of SDG monitoring and implementation,’ which will develop a series of SDG data-driven case studies to help policy makers strengthen awareness of how individual SDGs are being measured, monitored and invested in.
The SDG Fund also aims to support other innovative activities over the next four years. [World Bank Group Press Release]