Guinea/ Sustainable development: dialogue on the United Nations System Funding Compact for the achievement of the MDGs held in Conakry
How can financial resources be mobilized and used efficiently in development sectors for the well-being of the population? This theme, called the Financing Compact for the United Nations System's Support for Achieving the Sustainable Development Goals (SDGs), brought together members of the Government, international institutions and ambassadors accredited to Guinea this Tuesday, January 21, 2025 in Conakry.
Organized by the Ministry of Planning and International Cooperation at a hotel, this dialogue session between Guinea and its financial partners aims to address the country's priorities in favor of Guinean populations, especially the most vulnerable.
At the opening of the session, Kristèle YOUNES, Resident Coordinator of the United Nations System, called on international institutions and embassies to work together to address Guinea's urgent needs. "This is a critical time. The 2030 horizon is fast approaching, and Guinea, like many other countries, is faced with a simple but urgent reality: we need bold action and appropriate financing to achieve the Sustainable Development Goals (SDGs). The question of financing is not only how many resources we can mobilize, but also, and above all, how these resources can be optimally used to meet the country's priorities. I hope that this dialogue will mark a crucial step in our collective commitment to change the current trajectory of the SDGs and unleash the full potential of financing in favor of Guinean populations, especially the most vulnerable. Under the impetus of the Ministry of Planning and International Cooperation, we [International Institutions, ed. note], have the opportunity to be artisans of this transformation, to achieve the Agenda 2030, which requires considerable investment, and an innovative approach to financing," she launched.
In his speech, the Minister of Planning and International Cooperation, Ismaël Nabé, pointed out that Guinea is facing a multi-sector crisis. "(...) We are facing financial crises exerted by multiple crises that hinder the full achievement of the SDGs, particularly in the area of regional inequalities, access to basic services and resilience in the face of climate shocks," he recalled.
Continuing, he took the opportunity to make a plea to Guinea's partner institutions. "To respond to these challenges, I wanted to emphasize three priorities in the area of this framework. First, mobilize innovative and diversified resources. Traditional financing, while important, is no longer sufficient. Guinea advocates an approach that combines public-private partnerships to attract private capital to infrastructure and energy projects, but also innovative financing mechanisms, such as green bonds and results-based financing adopted to specific projects.
Secondly, to strengthen international solidarity and South-South cooperation. In this respect, Guinea calls for greater support for bilateral and multilateral partnerships, and for intensification of triangular and circular South-South cooperation, as a strategic lever for adopted and sustainable solutions. Thirdly, to guarantee efficiency and transparency in the use of resources, of course, and rigorous and transparent management of essential resources to inspire the confidence of partners and maximize funding when Guinea needs it", said the Minister, before assuring partners of his country's commitment to effective coordination.
"For our part, Guinea is committed to strengthening institutional capacities, notably through effective monitoring and evaluation systems. We are also committed to aligning investments with national priorities, while ensuring effective coordination with partners", he reassured.
This important meeting was also attended by the Minister of Economy and Finance. Mourana Soumah spoke of the importance of financing in a country's development. "(...) There is no development without financing. So since there can be no development without financing, we need a synergy of action, because we're going to find the 2030 target. This funding must be mobilized internationally, but national efforts must also cover a good part of the financing needs. In addition to international funding, we need to mobilize sufficient domestic resources, and therefore have a significant tax burden that gives us the budgetary space to finance very important development points in our budget. Where we have immense construction needs, such as schools, health centers and regional hospitals", he explained, with the aim of reducing mortality rates in public treatment centers.
It is important to recall that this dialogue session was launched in the run-up to the 4th International Conference on Financing for Development scheduled to take place in Seville, Spain, from June 30 to July 3, 2025.
Embassies from Rwanda, Morocco, Japan, Turkey, Belgium and China, as well as international institutions such as IOM, USAID and the World Bank, took part in this session.
Source: guineenews.org/
