Finance and climate-resilient development are anchored on national ownership, emphasizing that control and decision-making are crucial in supervising the process.
In the realms of financing, investment, and sustainable development, a significant shift is underway. The principle of country ownership is taking centre stage, particularly as we approach COP30 in Belém and the Fourth International Conference on Financing for Development (FFD4).
Brazil and South Africa, as they assume the presidencies of COP30 and the G20 respectively, are working diligently to share their experiences and offer support to prospective countries in developing their own platforms. This collaborative approach is crucial, as international partners, including multilateral development banks, governments, the private sector, national development banks, civil society, and technical advisory, all play critical roles in national development.
The concept of country ownership is not new. It has been embedded in the global development agenda, thanks to initiatives like the Compromiso de Sevilla and the Sevilla Platform for Action (SPA). These commitments emphasize the importance of country leadership in financing and development, a principle that is more relevant than ever in the face of rising debt burdens, challenges to global cooperation, and impending climate and biodiversity catastrophes.
The key stages of a development programme that should be underpinned by country ownership, as emphasized at the FFD4, include:
- National Development Ambition: Countries articulate their own development goals and priorities, placing their national aspirations at the centre of the process. This foundation is essential for all subsequent actions.
- Financing: Mobilizing and aligning financing according to the country’s own strategies and development plans, ensuring that finance flows support country-led priorities.
- Delivery and Implementation: Effectively managing and executing development programmes in ways that reflect country leadership and ownership, with coordination among multiple partners but respecting the country’s agenda.
These stages collectively form a continuum from setting ambition through securing financing to delivering results, all grounded in the principle that countries must decide and lead their own development pathways.
The FFD4 also underscores the importance of country ownership in achieving sustainable development goals, particularly those related to climate (SDG 13), peace (SDG 16), and partnerships (SDG 17). To this end, country platforms are being emphasized as mechanisms to achieve deep systemic transformation towards goals identified in national strategies. These platforms are embedded at the highest levels of government and within other national and subnational institutions, including national development banks.
South-South cooperation is being highlighted as a means to address imbalances between individual countries and international organizations. This approach is evident in the increasing number of countries using the Integrated National Financing Frameworks (INFF) approach. More than 85 countries are using this approach to identify financing needs and opportunities, develop policy reform agendas, and embed sovereign financing strategies within national institutions to mobilize, align, and derisk public and private investment in their NDPs, NDCs, and NBSAPs.
INFFs, led by ministries of finance, have leveraged and aligned tens of billions of dollars with national plans. Meanwhile, initiatives like the 'G20 Roadmap towards better, bigger and more effective MDBs' and the Global Financing Playbook are aimed at improving the role of multilateral development banks in national development.
A more systematic exchange of knowledge and experience is needed to enable countries to learn from each other and develop a community of practice into a pillar of global cooperation. This shared learning will be crucial in the coming years as we strive to meet our sustainable development goals and navigate the challenges of climate change and biodiversity loss.
In conclusion, country ownership is emerging as a cornerstone of development programmes, particularly in the areas of financing and sustainable development. By embracing this principle, countries can ensure that their development pathways are truly their own, guided by their own aspirations and priorities, and supported by a global community committed to collaboration and cooperation.
[1] Source: www.un.org/sustainabledevelopment/blog/2022/06/country-ownership-of-development-a-cornerstone-of-sustainable-development-finance/
[2] Source: www.un.org/sustainabledevelopment/blog/2022/06/country-ownership-of-development-a-cornerstone-of-sustainable-development-finance/
- The principle of country ownership is crucial in achieving sustainable development goals, particularly those related to climate change (SDG 13), peace (SDG 16), and partnerships (SDG 17), as it allows countries to develop their own platforms for deep systemic transformation towards goals identified in national strategies.
- Countries can ensure that their development pathways are truly their own, guided by their own aspirations and priorities, and supported by a global community committed to collaboration and cooperation, by embracing country ownership, a cornerstone of development programmes, particularly in the areas of financing and sustainable development.
- The FFD4 emphasizes the importance of country ownership in financing and development, with a focus on mobilizing and aligning financing according to the country’s own strategies and development plans, ensuring that finance flows support country-led priorities.
- The Integrated National Financing Frameworks (INFF) approach, led by ministries of finance, is being used by more than 85 countries to identify financing needs and opportunities, develop policy reform agendas, and embed sovereign financing strategies within national institutions to mobilize, align, and derisk public and private investment in their NDPs, NDCs, and NBSAPs.
