President Muhammadu Buhari will inaugurate Nigeria’s Integrated National Financing Framework (INFF) for Sustainable Development on Friday.
In a statement, his media aide Femi Adesina said the Nigerian leader would perform the inauguration on the margins of the 77th Session of the United Nations General Assembly (UNGA77) in New York.
“Proposed within the broader Addis Ababa Action Agenda, the Integrated National Financing Framework (INFF) is a planning and delivery tool to finance sustainable development at the national level,” said the statement.
According to the statement, the INFF helps policymakers lay out a strategy to increase investments for sustainable development, manage financial and non-financial risks, and ultimately achieve sustainable development priorities.
”While a country’s national development plan spells out what needs to be financed, the INFF shows how it will be financed and implemented. For Nigeria, the INFF is also expected to help in the recovery from the effects of COVID-19 pandemic as well as help address lack of an integrated approach to financing SDGs,” it added.
The Buhari regime stressed that this “has been a key challenge to meeting the financing requirement, estimated at $100 billion over the next 10 years” and that the 2030 Agenda for Sustainable Development presented an ambitious, complex and interconnected vision that countries around the world have committed.
“Realising this vision will require mobilisation of a diverse range of public and private resources. The INFF is a tool to help countries strengthen planning processes and overcome existing impediments to financing sustainable development at the national level,” the statement explained.
It added, “It helps governments and their partners to build more integrated approaches to financing, Strengthening the alignment between public and private investments and longer-term sustainable development objectives. It builds greater coherency across the governance of public and private financing policies.”
(NAN)
