Global Dialogue on Digital Financing for Sustainable Development


Digital finance holds great potential to accelerate the 2030 Agenda, as well as risks. New global initiatives such as Libra are currently opening up fundamental governance questions in that field. This represents a unique window of opportunity for Switzerland, which has always pushed for inclusive intergovernmental processes, to ensure that these governance discussions are inclusive and address the challenges of sustainable development.

Pays/région Thème Période Budget
Monde entier
Education

Politique d'éducation
01.02.2020 - 31.12.2021
CHF 992'678
Contexte

Innovations on digital finance4 , such as the launch of new global digital currencies (e.g. Libra), are offering new risks and opportunities. If certain risks, e.g. the lack of access due to weak or non-existent digital coverage, are not addressed, the most vulnerable groups will be left behind. However, digitalization can also lead to innovative service delivery which improves financial inclusion of the end beneficiaries.

Current relevant financial bodies (e.g. the International Monetary Fund and the Financial Stability Board) focus mainly on money laundering and financial stability when discussing digital finance, but not on the SDGs and do not take sufficiently into account the priorities and concerns of low- and middleincome countries, nor of civil society actors. However, these countries are particularly hit if sustainable development is not considered in the development of new financing practices and standards for digital finance.

[1] Final report issued by the High-Level Panel can be viewed at https://digitalcooperation.org/rqçort/

Objectifs To contribute to ensuring that the SDGs provide an effective framework for an inclusive approach to governing international developments of digital financing, through the establishment of a Global Dialogue on Digital Financing.
Groupes cibles Members of the dialogue should be: Experts from the private sector and civil society. Ministries of Finance, Central Banks and major financial actors of developing countries (including economy and trade ministries), as well as international organizations and fora with a financial mandate (e.g. IMF, Financial Stability Board, Bank for international Settlement.)
Effets à moyen terme

Contribute to the on-going development of overarching governance arrangements for, and thereby practices of emerging global digital financing initiatives in an inclusive manner that takes into account their impact on sustainable development.

Provide key actors who are involved in the governance of finance (e.g. representatives from Central Banks, ministry of finance and trade) and the private sector and civil society from developing countries (notably non-G20 developing countries including least developed countries (LDCs) and Small Island Developing States (SIDS), who are not usually heard and taken seriously, a robust voice in the current discussions as to how to shape and govern an emerging generation of global digital financing platforms.

Résultats

Principaux résultats attendus:  

Technical briefs and papers that assess and articulate the risks and opportunities of emerging global, digital financing initiatives to help achieve the SDGs in different country contexts (e.g. LDCs) are developed.

An agreed approach (e.g. principles, criteria, standards, norms) on how the SDGs can most effectively be used as a contribution to the on-going development of governing arrangements of an emerging set of global digital financing platforms is developed.


Principaux résultats antérieurs:  

Recommendations of the UN Task Force on Digital Financing of the SDGs and of the High Level Panel on Digital Cooperation from June 2019[1] e.g. the recommendation to have more effective and inclusive cooperation on digitalisation, particularly in the area of health and finance.

[1] Final report issued by the High-Level Panel can be viewed at https://digitalcooperation.org/rqçort/


Direction/office fédéral responsable DDC
Crédit Coopération au développement
Partenaire de projet Partenaire contractuel
Organisme des Nations Unies (ONU)
  • Programme des Nations Unies pour le développement


Autres partenaires
United Nations Development Program
Coordination avec d'autres projets et acteurs

1.      DiploFoundation (inclusive process of digital governance)

2.      ECOSOC Financing for Development Forum

3.      The Building Bridges Week in Geneva

4.      Swiss UN Mission in Geneva 

5.      SDG Lab

Budget Phase en cours Budget de la Suisse CHF   992'678 Budget suisse déjà attribué CHF   622'500 Budget y compris partenaires de projet CHF   992'678