While donor and philanthropic funds add up to billions of dollars, the cost of solving the world’s most critical problems runs into the trillions, with an estimated US$2.5 trillion annual funding gap to achieve the SDGs. To close the gap, it is imperative to implement innovative finance solutions that can divert private capital towards development objectives. In addition, more innovative approaches to public financing for technology and the development of solutions to SDG challenges are urgently required to leverage Science, Technology, and Innovation to achieve the 2030 agenda.
In order to address these challenges in innovation and development funding, IIX worked with UNESCAP to develop this report to identify and assess innovative financing solutions and policy initiatives that mobilize private capital to bridge the SDG financing gap. This report unveils case studies that examine the potential of governance, regulation and legislation, direct government funding, traditional financial instruments and technology-enabled innovative finance solutions to effect sustainable development in Asia and the Pacific.