z 10.b - ReadySetGooo/Sustainable-Development-Goals GitHub Wiki

Encourage official development assistance and financial flows, including foreign direct investment, to States where the need is greatest, in particular least developed countries, African countries, small island developing States and landlocked developing countries, in accordance with their national plans and programmes

Explanation

The goal aims to increase financial help from wealthier countries and foreign businesses to poorer developing nations that most need it. This includes the least developed countries, countries in Africa, small island nations, and landlocked countries.

The financial help could come through:

• Official Development Assistance (ODA): Money that wealthy governments give directly to poor countries for development projects and budget support, such as for health, education, infrastructure, etc.
• Foreign Direct Investment (FDI): Money that foreign companies and investors put into businesses, factories, etc. in poorer countries to make profits while helping economic growth there.
• Other financial flows: Loans, credits, grants, other private investment into developing countries.
• The main targets of this increased money should be the developing nations facing the biggest economic and development challenges - least developed nations, African nations, remote island and landlocked countries with difficult geography.

The increased money going in must align with national development plans and priorities set by the developing countries themselves. So they get support for the projects and sectors they think matter most for reducing poverty in their population.

The overall idea is to boost external financial support and private sector investment into places where it is desperately needed to meet sustainable development goals.