Financing Sustainable Development

This paper seeking to provide a comprehensive insight of development finance and issue between finance and sustainable development furthermore, examining development finance perspective, financing mechanisms for sustainable development and examines whether available financing instruments contribute to achieve the sustainable development goals (SDGs) in which significant progress is still required in developing countries. The study conducts a literature review of Reports, policy documents and academic literatures on financing mechanisms for sustainability development. After I identify the types of financing instruments suggested by UN to finance sustainability development I linked them with the SDGs they would contribute towards achieving, considering the potential link of the instrument with the SDGs and its targets. In addition, the financing programs available from the public sector, non-governmental organizations (NGOs), the financial sector and multilateral credit agencies were examined. The results obtained show that the main financing sources for sustainable development are located within the public sector due to the absence of a developed financial market in developing countries, and that the existing financial instruments do not address the SDGs where most attention is required. The study findings highlight the need for greater coordination among all parties to make efficient use of the scarce resources available to enable it to meet SDGs.