“edie” reminds us of the need to support the achievement of sustainable development goals.

The UN has pledged an additional $54.5m to help developing nations to achieve the Sustainable Development Goals (SDGs), after its annual reporting last year outlined backwards progress in several geographies on several goals due to the pandemic.

The new funding will be allocated to projects across Kenya, Madagascar and Zimbabwe in Africa, as well as Suriname and North Macedonia. More than 100 nations submitted proposals to the UN for new funding, and the UN has deemed these five as having the “most impactful and impact-ready” proposals.

Funding will be provided in the form of development impact bonds, issued by the Joint SDG Fund from the UN. The fund launched in 2021, initially providing $41m and then a further $17.9.

In Madagascar, the focus will be on SDGs 7 (Affordable and Clean Energy) and 13 (Climate Action). The nation will launch a sovereign fund to finance renewable energy projects and expand energy access. Madagascar has considerable hydropower and biomass sectors and is now seeking to expand solar generation. It also needs to rapidly improve energy access; the UNDP estimates that only one in four people in Madagascar have access to electricity.

Similarly, Zimbabwe will use its share of the funding to launch a renewable energy fund, furthering SDGs 7 and 13. As in Madagascar, most renewable energy generation in Zimbabwe is currently from bioenergy. IRENA data shows that, in 2018, there was no supply from wind or solar. Zimbabwe has pledged to use the fund to also further progress on SDG 5, Gender Equality, supporting women into related jobs.  Read more…

SDGs: UN unlocks $54.5m of new funding amid worries of backwards progress during Covid-19