The situation nowadays in the Republic of Chad is still being fully frustrating. Some remarkable evidences:
– deficit of the basic infrastructure is obvious and appearing as one of the main gaps of the Republic. Energetic sector of the Republic of Chad has been totally unmanaged by the STEE – Chad Water and Electric Society. The STEE provides energy just to 15% of the citizens in the capital and even lower percent in the provinces. To survive, most of the people are using middle-aged way by burning biomass fuels: animal manure and wood. Surely, the lack of infrastructure is influencing the Chadian economy a lot, as a consequence – the economy is vulnerable and instable, so any global change, especially in the oil sector makes its negative impact to the Chadian economy. The instable economy in its turn mirrors on the well-being of the local population in the form of the lack of job places, weak social security, etc. Before growth of the oil industry in 1960, the Republic exported the cotton, providing work places for the local population, as well as boosting the economy. The second try to develop the oil industry has been done in 2000, by the huge provision of the direct foreign investment in the oil industry of the country, what was very promising but turned to the failure;
– climate conditions is the next negative factor influencing the economic situation of the Chad. Chadian harsh dry climate negatively influencing the provision of nutrition. Almost 80% of the population is busy in farming what is the main source of nutrition for them;
– illiteracy of the local population. People – is the main source of the development and sustainability of the country, so the illiteracy appears as one of the barrier to the promotion of infrastructure and development as such. The illiteracy has its own roots in the lack of necessary control of the educational system – despite of the mandatory education system in Chad, very low percent of children attending the school and more than 50% of the Chadian population is illiterate. ;
– gender inequality – lack of the women involved in education and working system;
– refugee crisis and political instability in the region make very negative impact to the instable economic and political situation of the country. It suffers of the refugees flows from the neighboring countries – Sudan, Central African Republic, Libya; another threat is Boko Haram – radical Nigerian Islamic organization, involving more and more people and threatening the stability of the region a lot ; another precondition of the present situation is the armed opposition of the President Deby. The situation in this regards has been changed thanks to the joint actions of the Chadian and French armies;
– the situation in the social aspects, such as democracy and human rights issues, is also very deplorable;
– the corruption is one of the main factors destroying the country from inside. The corruption exists in all levels of the governmental system of the Republic of Chad. As to the research done by the Transparency International's Corruption Perceptions Index, the Republic of Chad appeared as the country with the highest range of corruption worldwide in the year 2005. The situation has the tendency to improve, but still be the critical issue nowadays;
– the rapid growth of the Chadian population – it was doubled since 1990 and is expecting to be doubled again by 2040 – is arising negative assumptions ;
– and one of the main factors is the insufficient international investments;
– all the above-mentioned facts lead the country to the overall vulnerable economic situation.
The history of the present critical situation of the Republic has its roots in the mid-1965, when the civil war against autocratic regime of François Tombalbaye took place. In the beginning of the 1970s the crisis has grown up, because of the military operations against guerrillas and the long-term drought. The stock of the cattle has decreased twice; production of agricultural production was sharply reduced. The population of many regions of the country starved. The country still suffered on the armed conflicts until 1990 inclusively. It is important to underline that Chad still endure the remnants of colonial system while the foreign policy of the government of the Chad Republic becomes unitary. 1970-1980th years became the time of conflicts with neighbor countries, what finally led to the mutual support of insurgent groups. All these factors led to the situation when the Republic of Chad being independent still substantially depends on the external financing.
One of the examples of such external investment flows is the Chad–Cameroon Petroleum Development and Pipeline Project. The construction began in 2000 and expected to be implemented in 2004. This project still arise many questions, critics and false concerns that investing in this county could lead to the unexpected and negative consequences. The project aimed to develop the capacity of the production of the oilfields of southern part of the Republic of Chad and to transfer oil to a floating storage and offloading vessel on the coast of Cameroon. The 660 miles pipeline has been built. Stakeholders of the project: ExxonMobil (40%) and its partners, Petronas (35%) and Chevron (25%). The stake of the both countries – Chad and Cameroon was 3%. Mainly it was funded by the IFC – $100 million; by debt financing – France's export credit agency and U.S. Export-Import Bank each provided $200 million; and private investors and lendors – $100 million. Due to the investments done, the project arose great expectations. Today the project is considering as failed because of the many issues which could be divided into two huge kinds of damages – environmental and social. The environmental systems of the both African countries were damaged – the hugest scale of the damage was in Kribi – the coastal Cameroonian town, because of the degradation of the coastal reefs; people, for whom fishing was the main source of income, as well as the underwater habitats, were suffered; also, there were 2 known oil leaks – in 2007 and in 2010, what surely had the biggest impact to the environmental system of the territory. Many NGOs worldwide tried to warn the WB on the consequences of the project and proposed a two-year moratorium for the approval of the project, but the WB declined any proposals.
Another issue was the corruption and inappropriate spending of the budget. The revenues from the project were supposed to be invested to the poverty reduction. And then the report of the WB in the year 2001 came out with the fact that $4 million of a $25 million bonus was spent by the government of Chad to the weapon. On July 2006, the WB signed with Chad memorandum of understanding. Under this memorandum the Government of Chad agreed to spend with priority 70% of its expenses to the poverty reduction programmes. No requests of the WB led to the success, and in 2006 Chadian government solely increased the portion of the revenues for its general fund from 15 to 30%. In the same year President Déby demanded Petronas and Chevron to quit the country.
Today the project is considering as failed because of the lack of consolidated council and decisions; lack of the research of the present situation in country, consequently, the national features have not been taken in attention; no ESG approach; bad-planned investments; no risk-management; bad monitoring of the investment flows. The WB took unilaterally all the responsibility and didn’t fulfilled its functions. Relying on the above-mentioned facts, the project was doomed to be failed.
This project is the best example of the strong necessity to plan, monitor, manage investment flows according to the international standards and national features, and ensure the direct usage of such flows.
Despite of the fact that the Republic of Chad achieved relatively good results in the extraction of oil in 2003 and the overall economic situation of the country improved, Chad is still facing challenges. The discovery and extraction of oil underlined the gaps in the Chadian economic system, what makes it more sensible for the global oil-price reductions and other shocks.
II. Present investment projects and opportunities for Chad
The strategic development agenda of the Republic of Chad proves the aspiration of this small African country to develop sustainably in accordance with the globally recognized SDGs. The below-mentioned Chadian Action Plans and Programmes are the best evidences of this aspiration. As the estimation done, the total investment flows gap of the developing countries is $3.3 – $4.5 trillion per year. This sum is needed for such issues as medicine, education, food security and climate change mitigation. As to the investment programs and initiatives implementing in the Republic of Chad, one of the most remarkable regional institutions appears African Development Bank. The Bank is working in the close cooperation with Chadian government and in partnership with the WB and EU in order to lift the resources and increase force in the fight with challenges of the Republic. The AfDB initiated the following programmes, promoting the SD in the Republic of Chad:
– One of the powerful Chadian potential is an agro-pastoral resource (agro-forestry, agroindustry and livestock) which makes a great impact into the Chadian economy – providing 80% of employment in the country, and the bulk of all non-oil sector revenues. The AfDB promotes Project to Improve the Resilience of Agricultural Systems in Chad. The Project consists of the $36.2 million, was set up for the period 2015-2033 and co-funded by the Chadian government. The main goals are: to help farmers to tackle the climate issues through the provision of various trainings; improvement of the collection and division of water; support of networks of seed producers.
– Programme to Rehabilitate and Strengthen the Resilience of the Lake Chad Basin Systems. The Lake Chad Basin appears as very important source of the water, fish and ecosystem for Chad, CAR, Cameroon, Nigeria and Niger. The lives of 50 million people living nearby mainly depend on this water source and built according to that ecosystem – most of the people living there are farmers, fishermen and grazers. The lives of the people became vastly in the danger after the coming out of the fearful fact – for the last 55 years the water cover of the lake decreased to the 90%! With the aim of the SD of the Lake Chad Basin, there was a grant of 53.82 million Unit of Account from the African Development Fund. The main objectives of the Programme was the increase the water flows to the lake, minimize water losses by reducing the dams built on the waterways which are feeding the lake, restoration the ecosystem of the lake by preventing sand flows into it, and stop the vegetation that clogs the lake.
– Investment Plan for the Strengthening of Resilience to Climate Change in the Niger Basin. The Plan supported projects aiming to the restoration of the soil against degradation; development of the special kinds of crops adapted to the extreme climate conditions; improvement of the grasslands to reduce movements due to the climate change.
Alongside with the investment projects of the Banks, there are various national initiatives: National poverty reduction strategies (2003-2006; 2008-2011), which were replaced by the National Development Plan for the period 2013-2015. The Plan had 8 objectives, mainly responding to the SDGs, such as food security, environmental protection, job creation, gender equality, etc. The plan for the next five years (2016-2020) was firstly presented in June 2014 during the conference in Paris. The conference also responded to the necessity of raising the financing existing NDP and Food Security Programme. The Plan is to be implemented through 2 projects: National Development Plan Implementation Project, along with the Vision 2030 The Chad We Want Project; The Public Finance Management Capacity Building Support Project. The main idea of the projects is the improvement of the governmental capacity of control, management, monitoring and evaluation of the transformation of national economy through the training of the governmental officials. The final and main aim is the foundation of the more resilient and sustainable economy by 2030.
In order to promote the liberalization of trade and whole regional integration, the Republic of Chad became a member of two main regional communities: Economic Community of Central African States (ECCAS) and Central African Economic and Monetary Community (CEMAC).
In addition to the above-mentioned programs, the 11th European Development Fund for the 2014-2020 planned the contribution of the 297 million euros for “rural development, nutrition and food safety” and 53 million euros for “sustainable management of natural resources”.
Third SDG called Health and Well-being, Second – Zero Hunger. UNICEF recognizes the importance of the danger of the malnutrition, especially for pregnant women. In this regard, UNICEF is promoting programs in Chad, aiming to support mothers and kids. UNICEF organized 500 nutrition centers, in partnership with an International Rescue Committee, UNICEF funded various vaccination programs, as well as schooling for medicine workers.
Despite of the improvements done, the poverty remains a very serious issue in the Republic of Chad. To refer the SDGs to the concrete problem, for example, the sustained poverty reduction, the specific actions are needed. In this context it is very important to mention UNIDO. Initiated in 2007 by the African Union Commission with the assistance of UNIDO the Action Plan for the Accelerated Industrial Development for Africa, is aimed to unify financial and non-financial resources on behalf of the increasing the competitiveness of the African region worldwide; increase the export of the goods (gum arabic, cotton, spirulina, etc.). UNIDO is helping in every phase of the local production until the destination of the market and promoting the idea of the importance of the skilled workers, and strong local production capacity.
Another measure implemented to fight the poverty is the Extended Credit Facility. It is so-called part of the reform of the International Monetary Fund, aimed to the reduction of poverty and growing up while investing (PRGT – Poverty Reduction and Growth Trust, was created with the aim to make the financial help of the IMF more accessible, flexible and more proper to the wide difference of low-income countries’ needs). The main function of the Extended Credit Facility is to provide a financial assistance to the countries with continuous payments problems.
As to the donations to the Republic – Chad is in the DAC List of ODA Recipients as the LDC. One of the core donors is France – net bilateral aid. As of 2014, the value of the net bilateral aid to the Chad was $28,220,000.
In the environmental context of the SD in the Republic of Chad, one of the Programmes realizing nowadays could be mentioned. Lake Chad Basin Commission developed an Action Plan, named The Lake Chad Development and Climate Resilience Action Plan in order to promote the SD of the area and to help people who live nearby to adapt to the impacts of the climate change to lake. The plan is implementing through the sustainable usage of the lake resources to promote food security and support local livelihoods communities.
With the aim to manage, monitor and evaluate such a wide range of investment projects, the Public Administration Officers Training Support Project has been announced. The main goal of the Project is to educate Chadian officials through various trainings in order to improve and innovate the provision of the public services, as well as restructuring the management principles of the Chadian development programs.
Another remarkable tool for the harmonization of the huge amount of donor initiatives, the Technical and Financial Partners Committee was set up in April 2011. The TFPC is the platform for Chadian government and other involved parties to discuss the development issues. The Committee is chaired by the African Development Bank.
Such large amount of various investment initiatives and donor programs are undoubtedly making great contribution to the various issues the Republic of Chad is facing – poor economic situation, lack of infrastructure, medicine, education, climate conditions, etc. Nevertheless, the Republic has big potential for development, relying on its own advantages, such as its favorable geographic position, natural resources, agro-pastoral potential. The geographic position of the Republic of Chad makes country a transit zone between Sub-Saharan and North African countries, what means consequently that Chad has a great potential to become a key stakeholder of the economic integration in the region. One of the main advantages of the Chad is the real assets in form of the mineral and oil resources and agro-pastoral potential, what could become very important resource for the further economic stability of the country. With the sustainable governing, the resources could prepare country for the post-oil period, as well as make the country more resilient to any global changes in the oil market.
The last two-years for the Republic of Chad have been challenging time, as to the backdrop of the oil-prices, instable regional security situation, debts. On 30 of June 2017 the IMF has approved new three-year arrangement for $312,1 million in the framework of the recovery strategy. The new three-year arrangement under the Extended Credit Facility Program will help country to deal successfully with the above-mentioned issues and to stabilize the economic and security situations of the country in whole. Another important measure adopted by the Chadian government facing with the challenges of the low oil-prices, was “the collection of the non-oil receipts and their greater safeguarding.”
D. Perspectives and possible solutions
V. Predictions and suggestions
I. Possibilities for the Sustainable Future of Chad
After the long time of the armed conflict and the regional tense situation, the Republic of Chad is experiencing the relative peace and stability. This stability became the result of the overall set of internal measures and international financial programmes implemented. As a vivid result is the achievement compliance with EITI (Extractive Industries Transparency Initiative) standards in 2014 and completion of the HIPC (Heavily Indebted Poor Countries) initiative in 2015. Another indicator is the real GDP of the country, which was doubled from 4,5% in 1990-2003 to 9,4% in 2004-2012 and reached 6,2% in 2015.
Despite all of the positive changes, Chad is still experiencing such challenges, as: vulnerable economic system; poverty; instable political situation; difficult climate conditions; a wide range of the social issues and many consequences of the above-mentioned challenges. Some recommendations could be implemented in order to strengthen the Chadian economy, reduce poverty, and mitigate the consequences of the climate conditions.
To reduce the deficit of the basic infrastructure it is necessary to transform the infrastructural sector of the country, to invest in development of self-infrastructure in order to reduce extreme dependence on the external investments. The investments must be done with perspectives to the Chadian future – to the infrastructure of the country. It is necessary to create conditions in order to transform the national economic system which will lead to the development in the oil sector, agroindustry, political and social stability. In this regard the following measures in the governmental scale are to be implemented: strict governance in all levels; transformation of the infrastructural sector; integration into the regional economy; establishment of the environment for the business development; establishment an assessment institution to monitor the achievement in implementation of the SDGs.
The further development of the invested infrastructure is the next important factor. In order to implement the smart governance and development, the educated personnel appears as one of the man conditions. So the next goal would be the strict control to the educational system of the country to avoid the present situation, when the mandatory education is not monitored what leads to the huge percent of the illiterate population. Educational programs abroad for the Chadian specialists could be very good step towards quality education.
In the Republic of Chad the issue of the gender equality is one of the core questions. In this regard it is very important to develop the involvement of women into the social aspects of the country – to raise their interest to education through various presentations and trainings, and their involvement in the infrastructure by providing job places and explain their importance for the further development of the country.
Human rights issue is one of the main social issues of the country. It requires the strict attention of the international community. The measures of strengthening the security of human rights must be improved by the participation of the international human rights institutions. The overall sight to the social issues, such as health and well-being and the possible solutions has been done by Dr. Babatunde Osotimehin, who was an Executive Director of the UN Population Fund of the Chad until his death in June 20017. His conclusions on the possible solutions of government to achieve health and well-being of the people, have been done based on his vision of the issues “from the inside”: “…the investment in the health workers, in the social protection and in the supply chains… another solution would be the provision of the nutritional advice to people, provision of the sexual education. The most important issue is to provide the information, knowledge and services to prevent such disease, as HIV… the programmes must be strong monitored, the civil society must be good prepared and organized… it could be not so expensive, as it seems to be to the first sight, the most important points here – the motivation, leadership and the political power to put resources where it does matter.”
Another social challenge of Chad is the corruption in all governmental levels. It could be overcome with a help of the international community by the non-stop monitoring of usage of the external investments, as well as by research of the political situation of the country in order to avoid the consequences happened with the Cameroon-Chad Pipeline Project.
One of the challenges of the African countries is the climate. The adaptation to the climate is an important issue in this regard. Adaptation needs a range of measures to be implemented, including human capacity, technologies, and investments. Among them: education and information of the population regarding the climate risks and increasing their ability to react; develop research in regards climate and environment, as well as exchange the knowledge and technologies within the agro-pastoral stakeholders and research institutions; finance the research programs and institutions and support them in defining adaptation measures, based on the necessities of the local population and strengthening the coherence between all sectors; develop and invest in the national programs for conservation and sustainable use of the resources through strengthening the monitoring of the forest, water resources and protection of soil from degradation;
A lot of efforts, programs and investments are targeted already to the issue of the political stability of the country. There is a great necessity to continue measures, aimed to the safety and the security of the region. The strict management of the processes and monitoring of the present situation, as well as early prediction of the possible future conflicts must be implemented both by the government of the Republic of Chad and the international community.
Vulnerable economy is one of the main challenges of the Republic of Chad, what includes all above-mentioned facts. To achieve positive changes in this regard, all described measures must be implemented: the political stability must become constant status; corruption in all levels must be overcame; human rights must become one of the main public property; infrastructure and prepared specialists must appear as basic pillars of the governmental system. In this regard, the taxation system must be reviewed in order to raise extra funds for founding the SD institutions. The capacity-building is another important issue for the achievement of the post-2015 development agenda. As to the Report of the third International Conference on Financing for Development in Addis Ababa in July 2015, the capacity development must be addressed to the specific necessities of the country and follow national priorities in regards SD. In order of implementation, it is necessary to build a partnership of the stakeholders of all levels.
And one of the most important conditions would be the sufficient international investments. The international community – international organizations and private sector are the crucial actors in this regard. The well-planned investments mean detailed process of preparation, smart distribution of the payments and strict monitoring of the implementing work.
The implementation of the measures must be strict managed and monitored, so it is necessary to create a subregional body for coordination the activities on implementation the SDGs.
The Republic of Chad today heavily depends on the natural resources. This is not the best strategy for development. The main mission of the Chadian government is to look for the alternative sources of the income. The various Action Plans the Republic of Chad is implementing nowadays have very good chances to stabilize the economic situation of the country and become the status of the “emerging” economy by 2030. One of the main steps towards economic development must become the industrialization of the country what will consequently lead to the economic diversification, social integration, including involvement of women and young people, improvement of the business environment what will attract foreign investors and capital.
8. Suggested global solutions of the presented challenges
One of the best solutions of the global challenges of investing in the SD could be the “Five pathways to the Sustainable Development Goals” proposed by the OECD:
a. Foreign direct investment into the developing countries is the best source of the international financial flows promoting the SD. It opens great opportunities for the country-recipient, promoting infrastructure, reducing poverty, boosting economy. Nowadays there is a tendency of decreasing the level of the flows, what could lead to the serious negative impact. Such tool as OECD Policy Framework for Investment could help countries to improve investments-friendly environment and create necessary conditions for the social and economic returns from the flows.
b. Blended finance could help to implement SDGs through rational and direct usage of financial resources. For example, promotion of risk prevention measures through usage of the public funds. In this regard it is important to mention Sustainable Development Investment Partnership – a joint venture of the OECD and World Economic Forum, joining various philanthropic, public and private institutions worldwide and mobilizing $100 billion into the blended finance in order to promote sustainable infrastructure.
c. Monitor and measure the mobilisation effect of public sector interventions on private investment to supply the most important information in order to engage finances for the promotion of SDGs.
d. Sustainable investments must leave no one behind. In this regard, social impact investment is created. It addresses the business benefits to the most vulnerable and poor populations. Public funds could be used in promotion such investments in order to provide social, health, education services for the marginalized populations.
e. Responsible and sustainable business could be implemented only through the responsible business conduct , meaning doing business in transparent, non-harmful and accountable way what will consequently lead to the benefits for business, people and world as such. In the promotion and implementation the responsible business conduct government and private sector must carry equal responsibilities.
The trustful partnership between the private sector and the government is an important step towards SD. The contributions of the public or private sectors alone would be insufficient to reach such a global aim. Private sector is presented by banks, insurance companies, transnational corporations, pension funds, various endowment funds and the joint work of corporations, government, international organizations and initiatives, private investors could become the powerful impetus towards sustainable future. Contribution of the private sector could be presented in the two main forms: investment in the SD and smart governance of the implementing business. The business must be transparent and responsible in this sense. The following services could benefit a lot from the partnership and joint actions of the private and public sectors: economic and trade – regional business of the corporations could ensure the dialogues and joint action plans in business, and simultaneously promotes the interconnections between environment, development and trade; sustainable infrastructure – designing and developing infrastructure objects considering on the local social, economic, financial, environmental issues. The implementation of the sustainable infrastructure objects requires removal any barriers to trade. Surely, there are some challenges: lack of investors willing to take risks related to the long-term and complex projects. In this regard, the Public Private Partnership (PPP) could be the best solution. PPP is the best example of the partnership between wide range of parties – private sector, governments, civil society organizations, research institutions. With the aim to contribute investments to poverty reduction, the joint actions of the parties could be a powerful push: market-oriented approach of the private sector, awareness of local situation from the civil society organizations, provision of the expertise from the side of research institutions, provision of the platform for negotiations and joint actions, as well as the co-financing from the side of the government would led to the success. Each party contributes from this joint work, simultaneously, reducing risks and acquiring new knowledge and possibilities from each other ; energy – joint actions of implementation the environment-friendly business, investing in the clean energy. In this sense The OECD Policy Guidance for Investment in Clean Energy Infrastructure is a strong mechanism to implement the rules into practice; health care – joint actions of development the medical infrastructure: a) technology and knowledge, including the environmentally sound technologies – corporations are one of the main resources of technology and knowledge, what creates a lot of benefits for the local community; b) job places: corporations produces job places through various business initiatives in the local community – necessity in the personnel for the corporations is complied, in the same time the level of the poverty in community is reduced.
“The project finance method” is another powerful measure. Project finance is the investing the industrial and infrastructure projects on the long-term basis, involved various lending institutions. Normally, these loans are non-recourse and used in such spheres, as transportation, telecommunications, mining. It is important to mention risks in this regard – it could be political, economic, technical and environmental risks and sponsors could decide the operation is impossible to be implemented. This method combines private financing and public sector. The actors of the public sector in this regard could be such institutions as IFC, WB, etc.
However, the participation of the private section nowadays is relatively low. The reasons are high political risks and risk of the not enough returns. Consequently, governments must implement measures in order to attract private investments in its various forms, such as finance, technologies, innovation and to do such investments development-oriented. OECD proposes some of such measures: ensuring the partnership between private sectors of the partner and domestic countries by supporting joint ventures; promotion the movement of the private sector funds to the development-oriented investments through addressing the development mechanisms to the development challenges; and the support of direct investments into the domestic value chains and trade; ensuring the development of the private sector in the country-partner.
Another measure to increase the private sector contributions is the so-called Big Push for private investment in the SD, proposed by the UNCTAD: modern initiatives and institutions for the promotion of investments; restructuring of the investment incentives; regional Agreement on investing the SDGs; new ways of partnership for financing the SDGs; reorganization of the financial markets; transforming the global business mentality.
Other recommendations on attracting the flows of private foreign capital to Sub-Saharan Africa were made by Lin See-Yan on the Fifth Expert Group Meeting on Finance for Sustainable Development in Nairobi 1999 and could be used as an example as well. The actions are as follow: macroeconomic reform and ensuring the political stability in the country-recipient; increasing the role of the local institutions, such as banks; improvement of the dispute resolution institutions; harmonization of the regional standards and market integration; improvement of the local financial infrastructures, aiming to the increasing the liquidity and structuring of capital market.
Surely, various donors programs are playing the crucial roles. The participation of the wide range of international organizations and institutions promoting the financial aid is invaluable. But the effectiveness of such programs could be significantly decreased by the different national factors. In order to increase the effectiveness of the financial flows, it is important to: establish the close cooperation between governments and aid agencies; promote strict management to avoid the corruption; ensure guarantee from the country-recipients of the effective use of such aid; ensure involvement and partnership of the local institutions in implementation of the received financial support – the local banks could play an important role in this regard; ensure the fit of financial aid projects to the necessities of the country; ensure the capacity of the country to direct usage of the received aid.
Based on the UNCTAD’s Action Plan for Private Investment in the SDGs, there are several suggestions to respond the challenges in regards the implementation of the SDGs: an establishment of the special institutions, specifically aimed to the promotion of investing the SDGs by creating and facilitating narrow-focused investment projects; introduction of the modern and innovative investment mechanisms and instruments – “Options include innovative tradable financial instruments and dedicated SDG funds, seed funding mechanisms, and new “go-to-market” channels for SDG projects”; regional Agreements on the Investing the SDGs; creation of the new inducement frameworks aimed to the investing in the SD; provision of the platform for the home and host agencies on behalf of the negotiation, partnership, exchanging experience and ideas, management and monitoring of the projects.