LocationsII Uzbekistan Economic Forum hosts a side event on Integrated National Financing Strategy
November 5, 2022
Photo: UNDP Uzbekistan
4 November 2022, Samarkand. The New Uzbekistan Development Strategy for 2022-2026 (DS) sets out very ambitious objectives including the one to increase the country’s GDP per capita by 1.6 times during the next 5 years and joining a group of an upper-middle income countries by 2030. This creates a necessity for careful consideration for funding options. According to the Development Finance Assessment (DFA) produced with support of UNDP in 2020 the SDG financing gap in Uzbekistan is around USD 6 billion annually.
UNDP has been supporting Uzbekistan to develop Integrated National Finance Framework (INFF) - a framework to help build more holistic approach for mobilizing and aligning public and private finance with national objectives, and strengthen the dialogue and collaboration across government, the private sector and civil society. One of the building blocks of the INFF is the Financing Strategy which has been drafted in consultation with the national and international stakeholders.
Photo: UNDP Uzbekistan
Matilda Dimovska, UNDP Resident Representative noted that
“INFF and the financing strategy are in fact part of a broader, systemic journey that Uzbekistan is undertaking. A shift of the public and private finance towards development, for a development-oriented public finance”.
Photo: UNDP Uzbekistan
The purpose of this side event hosted by UNDP jointly with the Ministry of Finance and EU Delegation in Uzbekistan was to present the Financing Strategy to a broader audience of II Uzbekistan Economic Forum participants, as well as present the outcomes of the recent dialogues that were held around it just a few days before. It was also important to discuss the proposed way forward, and how development partners can support implementation and operationalization of the Strategy. In addition, the event aimed to reflect on the experience of Uzbekistan with development finance instruments – the 2021 issuance of SDG Bonds.
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Since 2020 the Government of Uzbekistan has been implementing the UN Joint Programme “Establishment of Integrated National Financing Framework for Sustainable Development in Uzbekistan”, led by UNDP alongside the United Nations Children's Emergency Fund (UNICEF), the World Health Organization (WHO) and the UN Office on Drugs and Crime (UNODC). It aims to facilitate the establishment of an Integrated National Financing Framework (INFF) in the country to maximize the development impact of ongoing reforms. The Joint Programme is funded by the UN Joint SDG Fund with contributions from the European Union and governments of: Denmark, Germany, Ireland, Luxembourg, Monaco, Netherlands, Norway, Portugal, Spain, Sweden, and Switzerland.
