| The 17 sustainable development goals adopted by the United Nations in 2015 raised huge funding requirements for the global development system.The financing system implemented by traditional official development assistance(ODA)has been unable to solve the huge funding gap.In response to new trends and challenges in international development financing,the international community has been actively developing innovative forms of financing.Global development financing has shifted from official aid to multilateral aid,South-South cooperation,and private enterprises.The emergence of new financing methods has opened up new sources of funding,such as taxes and other compulsory expenses,voluntary unified contributions,financial instruments based on debt,state guarantees,insurance,and other market-based financing mechanisms.They are all playing increasingly essential roles in the field of international development aid,which make up for the deficiency of traditional development financing mechanism(ODA)in terms of low coverage,low capital usage efficiency and complexity of motivation.At the same time,the United Nations supports the development of innovative financing by improving the evaluation criteria for innovative financing and establishing official total support for sustainable development(TOSSD).It will help the realization of the global sustainable development goals in a more diverse and standardized manner. |
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