27 April, 2021 - The Joint SDG Fund under the overall leadership of the UN Resident Coordinator Office in Armenia has launched “Making Finance Work for Transformative Change in Armenia: Unlocking Finance for Armenia 2030” new joint project. The objective of the project is to support the Government of Armenia to create clear links between policies, planning and budgeting processes (horizontal workstream); and deploy innovative and evidence-driven mechanisms to leverage partnerships and multiple sources of finance towards three priority areas in Armenia - climate change, food security and human capital (vertical workstream).
Throughout the past two years, a new generation of sectoral and cross-sectoral strategies have been developed and refined for over 20 focus areas, guided by the three interconnected elements of sustainable development: economic growth, social cohesion, and environmental protection. Linking them together is a new comprehensive and long-term national development plan, called the Armenia Transformation Strategy 2050, which aims to serve as the primary policymaking framework for the foreseeable future.
The project “Making Finance Work for Transformative Change in Armenia: Unlocking Finance for Armenia 2030” is led by UNDP and implemented jointly with UNICEF and WFP, in partnership with the Offices of the Deputy Prime Ministers, Ministry of Finance, Ministry of Economy and the National SDG Council, as well as, international financial institutions and the national civil society.
In his opening remarks Shombi Sharp, the UN Resident Coordinator, mentioned: “As Armenia intensifies its recovery from the dual crises of pandemic and conflict, it is even more crucial now than ever before to ensure effective policy implementation for a sustainable and resilient recovery and national development.”
To assist the government in achieving the goals, the project will operationalize the Armenian Transformation Strategy and sectoral strategies through an SDG integrated financial framework and strengthen the financing architecture for effective policy implementation.
The project will address local needs and gaps in particular to support generating resources for equal distribution of funds for vulnerable groups. In line with the project vision, investments in these sectors will promote sustainable development across all dimensions of the 2030 Agenda.