2025 Dialogue on Public Finance and SDGs Kicks Off at Columbia University

As the 2030 Agenda draws near, the international community faces mounting obstacles in securing the necessary financing for sustainable development.


Devdiscourse News Desk | New York | Updated: 30-01-2025 18:44 IST | Created: 30-01-2025 18:44 IST
2025 Dialogue on Public Finance and SDGs Kicks Off at Columbia University
This year’s Dialogue builds on the success of past events, including the 2023 Dialogue on Tax and the SDGs, which saw participation from 370 delegates across 61 countries. Image Credit:

The 2025 Dialogue on Public Finance and the SDGs began today at Columbia University, New York, co-hosted by the Governments of Finland and Norway, the United Nations Development Programme (UNDP), and Columbia University. Running from January 29 to 31, 2025, the event will bring together global leaders, policymakers, and experts to address the urgent need for innovative financial solutions to accelerate the achievement of the Sustainable Development Goals (SDGs) amidst growing global challenges.

Public Finance Crisis Amid Rising Debt and Funding Gaps

As the 2030 Agenda draws near, the international community faces mounting obstacles in securing the necessary financing for sustainable development. Developing countries, in particular, are grappling with an unsustainable financing landscape marked by increasing debt servicing costs, expected to rise from $26 billion in 2022 to over $40 billion by 2025. Alarmingly, only 17% of assessable SDG targets are currently on track, highlighting the urgent need for a fundamental shift in how public finance is structured to achieve the SDGs.

Achim Steiner, Administrator of the UNDP, opened the Dialogue by emphasizing the critical need for collaboration and transparency in public finance: “Public finance is at a crucial moment, with close to one-third of the SDGs experiencing setbacks and a significant financing gap threatening our collective development goals. We must prioritize sustainable, fair, and transparent public finance to bridge this gap and rebuild trust between citizens and governments. Together, we can create a resilient future where no one is left behind.”

Building on Previous Successes, Focusing on Gender and Health

This year’s Dialogue builds on the success of past events, including the 2023 Dialogue on Tax and the SDGs, which saw participation from 370 delegates across 61 countries. The 2025 edition will focus on key public finance themes such as gender-responsive public finance, financing for health and well-being, and the role of public finance in crisis contexts. The discussions aim to identify innovative approaches to public finance, promote knowledge exchange on integrated strategies for sustainable development, and provide actionable recommendations for the upcoming Financing for Development conference.

During the event, Joseph Stiglitz, Nobel Laureate in Economics and Professor at Columbia University, addressed the audience, stating, “We are in a new economic world with a new economic paradigm. This is an exciting time for us to discuss how countries—including developing nations—can raise revenues that foster economic growth and shared prosperity.”

A Broad Coalition for Transformative Change

The Dialogue is supported by a diverse coalition of global partners, including the International Monetary Fund (IMF), the Organisation for Economic Co-operation and Development (OECD), the United Nations Department of Economic and Social Affairs (UN DESA), and the World Bank Group (WBG). These organizations are working together to support a framework for inclusive and resilient development that prioritizes equity and sustainability in public finance systems.

Looking Ahead to Global Discussions and Opportunities for Action

Looking forward, the Dialogue serves as a key preparatory event for pivotal global discussions such as the 2025 Climate Change Conference (COP) in Brazil and the Fourth International Conference on Financing for Development in Spain. These events represent critical opportunities for transformative action, and the 2025 Dialogue aims to leverage these moments by fostering global collaboration to examine the interconnections between public finance and development outcomes.

By bringing together a broad range of stakeholders, the Dialogue aims to shape more effective, equitable, and sustainable financial systems that support the achievement of the SDGs and benefit all citizens worldwide. 

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