UNITAR Jeju International Training Center (JITC) organized an online Workshop on "Financing for Sustainable Development" on December 8, 2023. With 420 participants from 38 countries, the Workshop focused on gaining insights into innovative approaches for securing sustainable development financing in developing countries, aligning with the principles outlined in the 2015 Addis Ababa Action Agenda. The three sessions covered topics such as the 2015 Addis Ababa Action Agenda, Domestic Resource Mobilization, and Impact Investing.

In session 1, representative from the UN DESA discussed key international considerations for sustainable development financing, highlighting the seven action areas of the Addis Agenda: Domestic Public Resource, Private Business and Finance, Development Cooperation, Trade, Debt, and Technology and Capacity. He also pointed out the challenges posed by the COVID-19 pandemic, particularly the difficulties developing countries face in securing recovery funds due to high debt and interest rates. The session underscored the importance of effective debt and resource management within these action areas, especially in the context of pandemic-related economic recessions.

In session 2, representative from UNCTAD addressed issues related to phantom FDI and strategies for utilizing FDI effectively. She emphasized the need for robust FDI regulations to foster economic development and called for transparent oversight of corporate data and assets to ensure responsible and productive use of funds in developing countries.

In session 3, representative from the Korea Social Investment Foundation focused on Impact Investing, which seeks both financial returns and societal benefits by funding companies addressing social and environmental challenges. She highlighted successful examples of Impact Investing in sustainable energy and eco-friendly packaging. Overall, the Workshop offered participants with insights into development financing mechanism.