Sub-Saharan Africa Closes Gaps in SDG Financing

Sub-Saharan Africa Closes Gaps in SDG Financing

We designed a financing mechanism to close the gaps in SDG financing in Sub-Saharan Africa.

Sub-Saharan Africa (SSA) is at the crosshairs of climate change, and citizens of many African countries increasingly experience the disastrous effects of drought, famine, and floods. The pandemic’s impact, as well as increased fuel, food, and fertilizer prices, have set back years of progress in many SSA economies.

Momentus (formerly IFCL) designed a public-private funding mechanism targeting US$20bn. It would provide short-term relief coupled with medium- and longer-term measures to help affected SSA countries get back on track with the UN’s SDG 2030 agenda.

This flagship initiative sponsored by UN agencies was designed to provide financial relief and access to catalytic capital. It raised funds to scale by tapping a wide range of funding sources according to their return requirements and strategic interests. The innovative governance model provided necessary structures to private investors while utilizing the convening power of the UN agencies.

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- John Brown, Caribbean Development Bank