26 August 2020
The UN Task Force on Digital Financing (UNDF Task Force) of the SDGs has found that digitalization « is already making a difference in financing the SDGs, and harnessing digitalization to advance citizen-centric financing can do so much more. »
The UN Secretary General, António Guterres, has highlighted the key role of Digital Financing to reach the Sustainable Development Goals while launching the UNDF Task Force.
Today’s unprecedented crisis demonstrates how digitalization can be harnessed if properly used, to support vulnerable groups, reduce inequalities and sustain livelihoods.
The work of the Task Force has focused on how digitalization can support financing that meets the priorities of the people it is intended to serve, by empowering them as savers, lenderes, borrowers, investors, and tax payers.
For the UNDF Task Force, harnessing digitalisation to reshape finance is a historic opportunity given the urgency to finance the SDGs. Digitalization is already making a difference but far more can be achieved in « accelerating the use of domestic savings for long-term development », and « making SDGs count in global financial markets, financing SMEs ». But to reach these goals digital risks, such as cybersecurity, gender and minority biases, need to be overcome.
To read the main findings of the UNDF Task Force click here