SDG Facility for Investment Resolution and Support in Transitioning Economies
Sustainable Development Goals (SDGs) cover a wide range of complex social, economic, and environmental challenges. In order to fast track the progress in achieving the SDGs, Government of Haryana has established the SDG Coordination Centre (SDGCC) under the Swarna Jayanti Haryana Institute for Fiscal Management (SJHIFM). The SDGCC’s mission is to ensure that the State of Haryana is empowered, prepared and fully equipped with technical knowledge, capacity, resources & systems to implement and achieve the ambitious targets it has set for itself in SDG VISION 2030.
The SDG challenges facing the developing world are complex and intertwined. To add to this, the world today is about $ 7.5 trillion short annually to establish the SDGs in time to meet the deadline for 2030. That investments from all corners are welcome, would be stating the obvious.
The private sector could be a good source, except there is a trust deficit here. The long list of projects with private participation that are languishing or have perished is not an encouraging precedent.
While the reasons behind the failed projects may be many, the prominent ones read like a list of worst practices – sub-optimal solutions, incorrect project definitions & selection, improper planning, inaccurate projections, weak implementation, sub-optimal technology and many more.
The situation calls for new approaches, new methodologies and possibly new types of institutions, at the country and provincial level – where the Business as usual approach is abandoned and “out of the box” solutions are adopted to work with the private sector.
New age problems require new solutions, which often need to be incubated in a favourable tailor-made environment conducive to making a project successful right from the beginning.
Instead of reinventing solutions the innovative approaches already being practised in any part of the world should be easily available to the partners for them to replicate. This calls for a virtual platform to exchange ideas and map solutions; so that they can be adapted and applied to the local issues.
The ambitious SDG agenda demands that the governments too need to think and work with more flexibility like the private sector and the policy decisions are experimented before they are implemented in a carte blanch approach. This calls for the partnerships with global partners engaged in looking for development solutions.
As part of its mission, the Centre has established the SDG First Network - a networking platform to provide congenial environment to connect institutions, curate problems, co-develop solutions and ideas and facilitate access to innovative solutions from across the world. It seeks to nurture partnerships, synergies and linkages between government and Non-government organizations, research and academic institutions - domestic and international - engaged in development solutions.
The SDG FIRST will be a Facility for Investment Resolution and Support in Transitioning Economies which will provide cradle to commercialization solutions for development projects. It will be a consortium of global institutions engaged in SDG implementation at various levels which will meet every quarter to discuss and share the new approaches towards solving the pressing local development needs. It will also have a virtual network which can come together once a month to convene on a development problem and share the best practices.
- To support the ministries /departments/Private sector at the country/state level, right from project cradle stage to commercialization stage in becoming transformative partners in development through research, advocacy, facilitation of public-private dialogue and multi-stakeholder partnerships.
- To bring experimentation and evidence into policy-making to build more sustainable growth for transition economies.
- To provide evidence-based recommendations and prototypes scalable practical development solutions with the use of data and behavioural science.
- Expression of need
- Need analysis
- Solution scanning and mapping
- Project identification
- stakeholder consultation
- Advisor engagement
- Constitution of project management cell
- Phased experimentation
- Proof of Concept
- Project recommendation based on “SDG Returns”
- Contract Performances,
- MOUs and MOAs
- Define Deliverables
- Access to resources – global knowledge, human resources, technology and capital
- Project Implementation replication
- Management teams
- Establish a risk-governance framework
- Web based governance systems
- Documentation and dissemination – Lessons learned, Best Practices and Case Studies
- Providing technical, economic, financial expertise and viable solutions.