Ibrahim, D., Ashour, A. (2024). Financing Sustainable Development Goals (SDGs) in Egypt: Current Practices, Challenges and Different Scenarios post COVID-19. test, 32(1), 86-47. doi: 10.21608/inp.2024.350416
Dalia Ibrahim; Ahmed Ashour. "Financing Sustainable Development Goals (SDGs) in Egypt: Current Practices, Challenges and Different Scenarios post COVID-19". test, 32, 1, 2024, 86-47. doi: 10.21608/inp.2024.350416
Ibrahim, D., Ashour, A. (2024). 'Financing Sustainable Development Goals (SDGs) in Egypt: Current Practices, Challenges and Different Scenarios post COVID-19', test, 32(1), pp. 86-47. doi: 10.21608/inp.2024.350416
Ibrahim, D., Ashour, A. Financing Sustainable Development Goals (SDGs) in Egypt: Current Practices, Challenges and Different Scenarios post COVID-19. test, 2024; 32(1): 86-47. doi: 10.21608/inp.2024.350416

Financing Sustainable Development Goals (SDGs) in Egypt: Current Practices, Challenges and Different Scenarios post COVID-19

المجلة المصرية للتنمية والتخطيط
Volume 32, Issue 1, March 2024, Pages 86-47    PDF (13.82 M)
Document Type: المقالة الأصلية
DOI: 10.21608/inp.2024.350416
Authors
Dalia Ibrahim* 1; Ahmed Ashour* 2
1Assistant Professor of Accounting - Macro Economic Policies Center- Institute of National Planning.
2Associate Professor of Economics - Macro Economic Policies Center - Institute of National Planning.
Abstract
Financing development is one of the main challenges facing SDGs achievement especially after COVID-19 and the geo-political conflicts and their worldwide associated negative consequences. In this respect, this paper aims to: (1) shed light on the various sources of development finance, (2) analyze the current practices and challenges facing financing the SDGs in the Egyptian context, (3) set out the potential scenarios for SDG financing in Egypt, especially after the effects of the global pandemic and the Russian- Ukrainian war, based on the methodology of the Keynesian and the financing gap model. It also proposes some policy recommendations for financing the SDGs in Egypt.
Keywords
COVID-19; Development Finance; Finance for Development; Sustainable Development Goals (SDGs); Domestic Resources Mobilization (DRM)
References

References:

  • ACBF (2015). Africa Capacity Report 2015: Capacity Imperatives for Domestic Resource Mobilization in Africa. Harare, Zimbabwe: The African Capacity Building Foundation.
  • AFCoP (2016). Financing development in Africa: Domestic resource mobilization and other innovative strategies. Knowledge Brief No 5: African Community of Practice on Managing for Development Result at the African Capacity Building Foundation (ACBF).
  • Arora, R.U. and Sarker, T. (2023) . Financing for Sustainable Development Goals (SDGs) in the Era of COVID-19 and Beyond. Eur J Dev Res 35, 1–19. doi: 10.1057/s41287-022-00571-9
  • Ashour, A. and Ibrahim D. (2018). Financing the SDGs in Egypt: Evaluating the current practices and challenges. A paper presented at “United Nations Commission for Africa High–Level Policy Dialogue (HLPD 2018), Egypt, July, 10-12. Retrieved from: https://archive.uneca.org/sites/default/files/uploaded-documents/HLPD/2018/hlpd_2018-_egypt_ahmed_and_dalia.pdf
  • AU (2015). Domestic Resource Mobilization: AU Toolkit for Mineral Economies. African Union.
  • Barua, S. (2020). Financing sustainable development goals: A review of challenges and mitigation strategies. Business Strategy and Development 3 (3), 277–293.
  • Beal, D., Fetherston, J., and Young, D. (2018). Narrowing the SDG investment gap: The imperative for development finance institutions. The Boston Consulting Group. Retrieved from:https://www.bcg.com/en-au/publications/2018/narrowing-sdg-investment-gap-mperativedevelopment-finance-institutions.aspx ().
  • Begashaw, B., and Shah, A. (2017). SDG financing for Africa: Key propositions and areas of engagement. Discussion Paper for Development Finance Workshop, The Sustainable Development Goals Center for Africa Conference, Rwanda, January, 27.
  • Besley, T., and Persson, T. (2013). Taxation and Development. Handbook of Public Economics, 5, 51-110.
  • Bhattacharya, D. and Ali, M.A. (2014). The SDGs- What are the means of implementation. Future United Nations Development System. Briefing 21. Retrieved from: https://cpd.org.bd/wp-content/uploads/2014/09/FUNDS-Briefing21-SDGsMoI-1.pdf
  • Biekpe, N., Cassimon, D., and Verbeke, K. (2017). Development Finance and Its Innovations for Sustainable Growth. An Introduction. In: Biekpe, N., Cassimon, D., Mullineux, A. (eds) Development Finance. Palgrave Macmillan, Cham. doi: 10.1007/978-3-319-54166-2_1
  • Blended Finance Taskforce (2018). Programme of Action: Mobilizing private capital for the SDGs at scale. 2018 Blended Finance Taskforce report on programme of actions.
  • Buchner, B., Trabacchi, C., Mazza, F., Abramskiehn, D., and Wang, D. (2015). Global landscape of climate finance. A Climate Policy Initiative (CPI) report.
  • Dugarova, E., and Gülasan, N. (2017). Global trends: Challenges and opportunities in the implementation of the sustainable development goals. United Nations Development Programme and United Nations Research Institute for Social Development.
  • El-Baz, H. M. (2020). Financial inclusion in Egypt: Challenges and recommendations. L’Egypte Contemporaine 111(538), 520-577. doi:10.21608/espesl.2020.214263
  • El-Hawary, D and Shehata, M. (2022). The way forward. In Mohieldin, M. (Ed). Financing Sustainable Development in Egypt Report. Cairo: League of Arab States.
  • Elnemr, H. and Ashour, A. (2015). Egypt Progress Towards Millennium Development Goals (MDGs) . UNDP Egyptian Human Development Report.
  • Gambetta, N., Azadian, P., Hourcade, V., and Reyes, M. E. (2019). The financing framework for sustainable development in emerging economies: The case of Uruguay. Sustainability 11(1059), 1–24. doi:3390/su11041059
  • Griffiths, J. (2018). Financing the sustainable development goals (SDGs). Development 61 (1), 62–67.
  • Hinchberger B. (2016). 4 biggest challenges to achieving the SDGs. Devex. Retrieved from: https://www.devex.com/news/4-biggestchallenges-to-achieving-the-sdgs-87979 ().
  • Horrocks,P.; Krüger, A. and Raiteri, E. (2023). We need improved impact practices for green, social and sustainability bonds to help deliver on the SDGs. Development Finance Agenda. Vol. 8, No. 7.
  • ILO (2020). Covid-19 and the world of Work. ILO Monitor 2nd Edition. International Labor Organization.
  • IMF (2020). World Economic Outlook. The Great Lockdown: Worst Economic Downturn Since the Great Depression. International Monetary Fund.
  • Islam, J. (2017). Financing for SDG implementation: Challenges and way forward. United Nations (UNESCAP). United Nations Economic and Social Commission for Asia and the Pacific.
  • Jione,J and L. J. Young. (2015). Financing for sustainable development in the post- 2015 era. KIEP Research Paper No. World Economy Update, 5 (11). doi: 10.2139/ssrn.2770354
  • Kedir,A. Elhiraika, A., Chinzara, Z. and D. Sandjong. (2017). Growth and development finance required for achieving SDGs in Africa. African Development Review.29 (1),15- 26. doi:1111/1467-8268.12230
  • Keynes, J.M. (2017) The General Theory of Employment, Interest, and Money; Wordsworth Classics of World Literature, Ed.; Wordsworth Editions Limited: Hertfordshire, UK.
  • Kharas, H. (2014). Reforming ODA to increase development impact. Brookings. Retrieved from: https://www.brookings.edu/research/reforming-oda-to-increase-development-impact/
  • Kuada,J. (2013). Financing economic growth and development in Africa. African Journal of Economic and Management Studies 4 (3). doi:10.1108/AJEMS-06-2013-0056
  • Lee, N., and Sami, A. (2018). Three surprises about private capital flows to low-income countries. In the Center for global development. Retrieved from: https://www.cgdev.org/blog/three-surprises-about-private-capital-flows-low-incomecountries
  • Lucci, P. (2015). Five challenges that sustainable development goals present to the city leaders, CityMetric. Retrieved from: https://www.citymetric.com/politics/five-challenges-sustainabledevelopment-goals-present-city-leaders-1625
  • MIC (2020). International Partnerships for Sustainable Development: Writing the Future in a Changing Global Dynamic. Ministry of International Cooperation, Egypt.
  • MIC (2021).International Partnerships for Sustainable Development : Engaging for Impact Towards our Common Future. Ministry of International Cooperation, Egypt.
  • MIC (2022). International Partnerships for Sustainable Development : From Pledges to Implementation. Ministry of International Cooperation, Egypt.
  • MIC (2023). Role of ODA in supporting Private Sector Engagement. Ministry of International Cooperation, Egypt.
  • (2016). National Voluntary Review on the SDGs. Input to the 2016 HLPF on Sustainable Development. Ministry of International Cooperation, Egypt.
  • Financial Monthly Bulletin, different issues, Ministry of Finance, Egypt. Retrieved from: http://www.mof.gov.eg/
  • Moghieb, H.; A. Zakria, and A. Ashour. (2016). Egypt's Path towards SDG- Goal 6. A paper presented at UNU-MERIT conference "Pathways to SDG - Macro to Micro Perspectives", Egypt, November,19-20.
  • Mohieldin, M. (Ed). (2022). Financing Sustainable Development in Egypt Report. Cairo: League of Arab States. Retrieved from: https://publications.unescwa.org/projects/fsde/sdgs/pdf/Financing%20Sustainable%20Development%20in%20Egypt_Feb%2028.pdf
  • MoPED (2018). Egypt’s Voluntary National Review 2018. Ministry of Planning and Economic Development, Egypt.
  • MoPED (2021). Egypt’s Voluntary National Review 2021. Ministry of Planning and Economic Development, Egypt.
  • Sustainable Development plans. Different issues. Ministry of Planning and Economic Development, Egypt.
  • Morris, S. (2018). Rising to the SDG challenge: The unique contribution of the international development finance club, October: Centre for Global Development report brief.
  • Mubiru, A. (2010). Domestic resource mobilization across Africa: Trends, challenges and policy options. Committee of Ten Policy Brief No. 2/2010.African Development Bank.
  • Nassiry D, Nakhooda S, Barnard S. (2016). Finding the pipeline: project preparation for sustainable development. Overseas Development Institute. Retrieved from: https://odi.org/en/publications/finding-the-pipeline-project-preparation-for-sustainable-development/
  • Nnadozie E.; T.C. Munthali; R. Nantchouang and B. Diawara. (2017). Domestic Resource mobilization in Africa: Capacity imperatives. Africa Journal of Management 3(2). doi:1007/978-3-319-54166-2_2
  • OECD (2019). Development Co-operation Report 2019: A Fairer, Greener, Safer Tomorrow, OECD Publishing, Paris. doi: 10.1787/9a58c83f-en
  • OECD (2020a). Official Development Assistance (ODA). Development Co-operation Directorate. Retrieved from: http://www.oecd.org/dac/financing-sustainable-development/development-finance-standards/What-is-ODA.pdf
  • OECD (2020b). Global Outlook on Financing for Sustainable Development 2021: A New Way to Invest for People and Planet, OECD Publishing, Paris.
  • OECD and UNDP (2021). Closing the SDG financing gap in the COVID-19 era. Scoping note for the G20 Development working group. Retrieved from: https://www.oecd.org/dev/OECD-UNDP-Scoping-Note-Closing-SDG-Financing-Gap-COVID-19-era.pdf
  • Paranque, B.and Pérez, R. (2016). Finance Reconsidered: New Perspectives for a Responsible and Sustainable Finance. Critical Studies on Corporate Responsibility, Governance and Sustainability 10. Emerald Group Publishing Limited: UK.
  • Pekmezovic A. (2019) The new framework for financing the 2030 agenda for sustainable development and the SDGs. In: Walker J, Pekmezovic A, Walker G (eds.), Sustainable development goals: harnessing business to achieve the SDGs through finance, technology, and law reform. John Wiley & Sons Ltd. , 87–105
  • Ratha, D., De,S. , Dervisevic, E. Plaza,S. Schuettler,K, Shaw, W.,Wyss,H, Yi, S. Yousefi,S. (2015). Migration and remittances: recent developments and outlook. Special topic: financing for development. In Migration and Development Briefs, No. 24. Washington, DC: The World Bank.
  • Salazar,V. and katigbak,J.P.(2016). Financing the sustainable development goals through private sector partnership. Center for International Relations and Strategic Studies (CIRSS). CIRSS Commentaries III (10),
  • Schmidt-Traub, G. and Sacks,J. (2015). Financing sustainable development: Implementing the SDGs through effective investment strategies and partnerships. Sustainable Development Solutions Network. Working Paper (April).
  • SDGC/A. (2017). SDG financing for Africa: Key prepositions and areas of engagement. A discussion paper presented for the development finance workshop in the SDGs Center for Africa Conference. Kigali, Rowanda: The SDGs Center for Africa.
  • Sharma, A. (2017), November 23). Financing sustainable development goals: How should India look at private investments for development. Forbes India, November,23.
  • Shetty, S. 2020. Accelerating progress of low-income countries towards the SDGs: Balancing realism and ambition in a post-COVID-19 world. CGD policy paper 194, November, Center for Global Development, Washington, DC.
  • Shibli, A. (2018). The challenges of SDG financing. The Daily Star. Retrieved from: https://www.thedailystar.net/opinion/open-dialogue/news/the-challenges-sdg-financing-1640431
  • Signe’, L. (2016). How to implement domestic resource mobilization successfully for effective delivery of SDGs in Africa. OCP Policy Center. Policy Brief (16/24).
  • Soget, T. (2020). Financing the Sustainable Development Goals. MPDI. France.
  • Torgler, B., & Schneider, F. (2007). Shadow Economy, Tax Morale, Governance and Institutional Quality: A Panel Analysis. CESifo Working Paper No. 1997.
  • Transparency International. (2021). Corruption Perception Index. Retrieved from: https://images.transparencycdn.org/images/CPI2021_Report_EN-web.pdf
  • UN (2002). Financing for Development: Building on Monterrey. Department of Economic and Social Affairs, New York: United Nations.
  • UN (2014). Report of the Intergovernmental Committee of Experts on Sustainable Development Financing. United Nations General Assembly. A/69/315. New York: United Nations,.
  • UN (2015). Addis Ababa Action Agenda of the Third International Conference on Financing for Development. Addis Ababa Action Agenda. United Nations.
  • UN (2019). Report of the inter-agency task force on financing for development. Financing for Sustainable Development Report, 1–177. United Nations.
  • UN (2020). Financing for Sustainable Development Report 2020. Inter-agency Task Force on Financing for Development. New York: United Nations.
  • UN (2022). Inter-agency Task Force on Financing for Development, Financing for Sustainable Development Report 2022. (New York: United Nations, 2022).
  • UNCTAD (2014). Investing in the SDGs: An Action Plan. World Investment Report: United Nations Conference on Trade and Development.
  • UNDP (2017a). Financing the sustainable development goals in ASEAN: Strengthening integrated national financing frameworks to deliver the 2030 agenda. ASEAN-China UNDP Symposium on Financing the Implementation of the Sustainable Development Goals in ASEAN. United Nations Development Program.
  • UNDP (2017b). Financing the SDGs in the Pacific islands: Opportunities, challenges and ways forward. Discussion paper. United Nations Development Program.
  • UNDP (2022). The impact of the war in Ukraine on sustainable development in Africa. Regional Bureau for Africa: United Nations Development Program.
  • UNGA (2015). Addis Ababa Action Agenda for the Third International Conference on Financing for Development. New York: United Nations.
  • USAID (2018). Framework for strategic application of TSA and GFMIS in Egypt: Leadership in the public financial management II (Nov.): United States Agency for International Development.
  • Wasis, A. (2017). Financing the SDG- Opportunities and challenges. Malaysia: Economic Planning Unit.
  • WB (2017). Governance and Institutions: The Role of Domestic Resource Mobilization.  World Bank.
  • Yunita, A., Biermann, F., Kim, R. E., & Vijge, M. J. (2023). Making development legible to capital: The promise and limits of ‘innovative’ debt financing for the Sustainable Development Goals in Indonesia. Environment and Planning E: Nature and Space 6 (4). doi:1177/25148486231159301.
  • Zerbib, O.D. (2020). A Sustainable Capital Asset Pricing Model. (S-CAPM): Evidence from Green Investing and Sin. Stock Exclusion; Tilburg University: Tilburg, Netherlands.
Statistics
Article View: 368
PDF Download: 531