Sector: International development
Service: Incubators & accelerators
The Sustainable Development Goals (SDGs) represent global collective ambition for social equality and are currently underfunded to the sum of $3.6 – 5.6 trillion. Against this backdrop, policy-makers and practitioners have begun to explore the role innovative finance can play in attracting finance to bridge the gap.
In September 2017, Numbers for Good was invited to work with the Indonesia country office of the United Nations Development Programme (UNDP) to assist in launching the first innovative finance lab. The lab will facilitate funding for the SDGs by convening key partners, experimenting with new forms of funding and developing best practice around the allocation and management of funds as well as impact measurement.
Through this partnership, Numbers for Good helped articulate the lab’s scope of work, strategy and 3-year action plan. Through a series of engagements with key stakeholders from government, the social sector, corporations and religious leaders our team explored various aspects of innovative finance including: financial instruments, approaches to leveraging alternative development finance, sources of SDG-relevant investments and metrics to measure impact.
The lab has already secured support from the Indonesian government and other key stakeholders from the public and private sector. The Innovative Finance Lab is part of a bold new move for the UNDP into more sustainable forms of development and we are proud to have been part of this exciting new enterprise. Francine Pickup, Deputy Country Director at UNDP Indonesia:
“Private investment and religious funds offer tremendous untapped potential for supporting the Sustainable Development Goals. Numbers for Good provided valuable expertise based on the organisation’s practical experience to help UNDP explore how innovative financing instruments can help leverage these new forms of capital and channel them to where they are needed most.”