Goal 17: Partnerships for the goals
The SDGs can only be realized with strong global partnerships and cooperation. Official Development Assistance remained steady but below target, at US$147 billion in 2017. While humanitarian crises brought on by conflict or natural disasters continue to demand more financial resources and aid. Many countries also require Official Development Assistance to encourage growth and trade.
The world is more interconnected than ever. Improving access to technology and knowledge is an important way to share ideas and foster innovation. Coordinating policies to help developing countries manage their debt, as well as promoting investment for the least developed, is vital for sustainable growth and development.
The goals aim to enhance North-South and South-South cooperation by supporting national plans to achieve all the targets. Promoting international trade, and helping developing countries increase their exports is all part of achieving a universal rules-based and equitable trading system that is fair and open and benefits all.
Lebanon has been able to create successful partnerships to share and enhance knowledge and increase exports with a number of countries. However, due to the lack of partnerships among domestic stakeholders Lebanon risks missing opportunities to increase in transparency and a reduction in government expenditure among many other things.
Did you know…
…that Lebanon has been able to reduce its tax rate on imported goods by almost 75% since 2000?
…that Lebanon does not have a public private partnership (PPP) legal framework even though a law was drafted in 2007?
The UN Conference on Trade and Development (UNCTAD) says achieving SDGs will require US$5 trillion to $7 trillion in annual investment.
Total official development assistance reached US$147.2 billion in 2017.
In 2017, international remittances totaled US$613 billion; 76 percent of it went to developing countries.
In 2016, 6 countries met the international target to keep official development assistance at or above 0.7 percent of gross national income.
Sustainable and responsible investments represent high-potential sources of capital for SDGs. As of 2016, US$18.2 trillion was invested in this asset class.
The bond market for sustainable business is growing. In 2018 global green bonds reached US$155.5billion, up 78 percent from previous year.