Harnessing Digital Finance for the SDGs and Covid-19
Monday, 13 July 2020
8:00 AM - 9:00 AM
Virtual (New York time)

Side Event

UNCDF with UNDP

Background:
Multiple crises and uncertainties characterise the unprecedented state of the world as the UN Secretary General’ Task Force completes its work. Human tragedy; the fears of a volatile, indefinite health crisis; the implosion of local and national economies with resulting unemployment, poverty and inequality; an extraordinary scale of fiscal and monetary stimuli by those countries that can afford them, and a public finance and sovereign debt crisis for those who cannot. Amidst such turmoil, the persistent and growing threats of climate change and biodiversity loss; and the challenges in securing the national, regional and international cooperation needed to come through this period and build better, with dignity, humanity and hope.

Digitalization, already part of our world, has through this crisis come into its own. Digital finance in particular has become a lifeline for many, and the positive hotspot of a global economy on pause. Digital rails have become the superhighways for large cash transfers by governments to citizens in the face of income losses associated with mandatory lockdowns.

The COVID-19 crisis and its economic aftermath have not created but have without doubt super-charged the trends towards digitalization. In this context, the Task Force’s mandate and recommendations are more important than ever and represent a more urgent agenda to action.

For questions and inquiries: dftf.secretariat@uncdf.org

Please note that participants can request the floor on a first- come, first -served basis due to the time limit.

United Nations