The report’s main message is that finance alone will not be sufficient to promote and achieve the post-2015 development agenda. Policies also matter and are fundamental. Appropriate and coherent policies will ensure that finance is used effectively to achieve results and that it is not wasted or underused. Good policies will help ensure that more finance is mobilised. The report identifies many examples of governments that are making effective policy choices in mobilising finance for major enablers of transformative development, including local governance, infrastructure, green energy technology, biodiversity, human capital and trade.
Given the challenges encountered in the follow-up of the Monterrey Conference, it is crucial to develop an appropriate system of monitoring and accountability that covers as many flows of finance as possible and that stimulates the right actions in the finance and policy framework, nationally and internationally. This accountability system must cover both the SDGs and their targets and the finance and policies required to achieve them. It can then guide implementation of the post-2015 agenda in a way that covers finance, policies and partnerships. The analysis suggests that it is not a shortage of funds that will be the constraining factor in achieving a transformative post-2015 development agenda. Rather, it is the way finance is mobilised and used that will determine success in achieving the goals the agenda enshrines. This in turn will require efforts to improve the effectiveness of each category of financing by drawing on its unique characteristics in support of particular enablers of development, to expand the range of possible sources of finance through appropriate policies and also to combine different flows as effectively as possible. This will call for reform of national finance and policy frameworks, as well as concerted efforts at the international level.
Download the report in multiple languages here: http://ecdpm.org/publications/european-report-on-development-2015/.