Advertisement
Business

SDGs funding up 312 percent

Advertisement

Donor funding towards implementation of Sustainable Development Goals (SDGs) grew by 312 percent in 2020, a Malawi SDG Acceleration Fund 2020 Annual Report shows.

The fund from development partners went up from $34 million (about K27 billion) in 2019 to $140 million (about K112 billion) last year.

Comparatively, this comes while the acceleration funds’ predecessor initiative, the Malawi One United Nations (UN) Fund, mobilised K96 billion from donors between 2009 and 2018.

Advertisement

These figures illustrate an increase in performance in the period under review.

Among other factors, the surge in the funds is attributed to the donors’ appetite to support implementation the aspirations.

“Thanks to its new composition, in 2020 the fund had an exponential growth expanding from two donors in 2019 to five donors in 2020, with more donors expected to join the fund in 2021.

Advertisement

“In terms of resource mobilisation, the fund grew from a $34 million portfolio in 2019 to $140 million in contributions in2020, representing a 312 percent growth. The number of projects funded doubled up from four in 2019 to 10 in 2020,” reads the report.

In his commentary, Secretary to the Treasury Chancy Simwaka attributed the rise to resilient relations between the government and development partners.

“These programmes represent strategic partnerships between the government of Malawi, including local authorities and communities, and the UN, and lead towards accelerating the SDG agenda in the next 10 years as outlined in the Malawi 2063 Vision,” Simwaka said.

Advertisement
Tags
Show More
Advertisement

Related Articles

Back to top button
Close
Close

Adblock Detected

Please consider supporting us by disabling your ad blocker