Commonwealth positions advanced in international development and financing mechanisms The core problem that this project seeks to address is the lack of sufficient and sustainable financing to fund the SDGs of Commonwealth countries.  

This project will aim to help Commonwealth developing countries better access sustainable financing through three key initiatives, all reflecting areas where the Commonwealth has a strong comparative advantage relative to other international organisations.

Improved debt sustainability positions of Commonwealth indebted countries 

This initiative seeks to address unsustainable debt burdens in Commonwealth small states and least developed countries (LDCs) through various initiatives, including the joint (with DMU) development of a debt sustainability tool.  These initiatives are expected to enhance Commonwealth engagement with these countries on debt sustainability issues and provide a platform for Commonwealth consensus on debt sustainability solutions.  

2.	Mobilised additional diaspora capital for investments and savings in Commonwealth developing countries

This initiative aims to increase diaspora investments and savings in member states, by providing countries with knowledge products, technical assistance and increased access to diaspora finance.  The first ‘research, analysis and scoping’ phase provides evidence of the opportunities to scale-up diaspora finance. This research will inform the second phase focused on ‘Commonwealth direct action’ to directly support low- and middle-income countries and small states to access diaspora investments and savings. The direct action will involve exploring diaspora finance  mechanisms to support countries combat the impact of COVID-19.
3.	Improved access to disaster finance.

This initiative seeks to strengthen the capacity of small and vulnerable countries to access disaster risk finance as well as exploring mechanisms to reduce disaster risks. This workstream will accentuate both ex ante and post financing mechanisms. The initiative will be in two strands with the first strand focusing on the development of the Disaster Risk Finance Online Portal which will serve as a repository of information for ease of accessibility to member countries. The scope of the portal will be expanded to include all the disasters. The second strand will focus on exploring other mechanisms to support countries' efforts to reduce disaster risk through the implementation of the Sendai Framework.

4.	Conduct targeted policy research and global advocacy on new and emerging financing for development issues and challenges.

This initiative will focus on targeted policy research on financing for development issues and challenges to influence national, regional or international decision making, as well as support capacity building, particularly through knowledge exchange.  A key area of focus in this area will include policy and research advocacy for sustained international, regional and national efforts with a view to address regulatory challenges in the area of financial technology (FinTech) as well as to combat illicit financial flows. Research work will also focus on domestic resource mobilisation.