Issue 2: Financing for Sustainable Development in Small Island Developing States
Small Island Developing States (SIDS) is a term first appeared during the 1992 United Nations Conference on Environment and Development (UNCED) to focus the attention of the international community to the unique characteristics of the small, ecologically fragile, and economically vulnerable island states, including but not limited to the following:
- Volatility and susceptibility to external global economic factors, including economic and natural shocks beyond domestic control;
- Lack of economies of scale;
- Excessive dependence on international trade;
- Relatively high costs for transportation and energy services;
- Limited human, institutional, and financial capacities to manage and use natural resources on a sustainable basis;
- Increasing demographic (small but rapidly growing population) and economic pressures on fragile, vulnerable, endemic natural resources and ecosystems.
This note aims to provide an overview of current status of various sources of sustainable development financing in SIDS, with a view to taking stock and contributing to relevant discussions, including, among others, the work of the expert committee on a sustainable development financing strategy as well as the preparatory process for the Third International Conference on Small Island Developing States scheduled to take place in Samoa in 2014.