20 August 2024, Kathmandu, Nepal on 20 August 2024, the representatives from the Government, private sector, academia, media, the United Nations in Nepal and development partners engaged in a dialogue on the challenges and possible policy actions to mobilize sufficient financial resources in support of the Sustainable Development Goals (SDGs). In the discussions, participants dived deep into the most pressing issue for accelerating progress towards SDGs—financing or lack of it —at a time of rising geopolitical tensions, post-pandemic weaker economic recovery, existing inequalities and disparities including those related to gender and social inequality, more frequent and intense climate-related crisis, and a new trade dynamic driven by protectionism and disengaged multilateralism, among others. 
In addition to domestic reforms, the participants recognized that the emerging needs of the twenty-first
century requires an international financial architecture that is more fit for purpose, equitable, ready to deal with emerging challenges, and responsive to the financing needs of developing countries including the needs of all women and girls living in poverty.
The participants discussed that the SDGs present the right framework and vision to deal with the presentday global development challenges, and they agreed on the following key action points to accelerate mobilization of national and international public and private financial resources in support of the SDGs and Nepal’s development priorities. Actions by the Government
• Building on the outcomes of the Nepal Investment Summit 2024, Nepal has carried out reforms on number of areas, and it is crucial to continue pursuing policy reforms for easing legal and regulatory procedures, including private sector friendly investment policy, to improve business environment.
• To mobilize necessary development finance to achieve Nepal’s key development ambitions, including
SDGs, it is important to continue to formulate a comprehensive policy framework, focusing on inclusive and innovative financing instruments that utilizes finances from different sources and channel all financial resources towards SDGs and Nepal’s development priorities.
• To mobilize and effectively use domestic resources in support of SDGs, it is important to build institutional capacity of the three tiers of governments, including provincial and local levels to enable them to effectively spend the available financial resources and develop and implement projects effectively and efficiently.
• In view of Nepal’s expected graduation from the category of Least Developed Country (LDC) in 2026 and considering the likely loss of access to various International Support Measures (ISMs), including those related to concessional financing, it is essential to ensure that Nepal implements a Smooth Transition Strategy in a timely manner and prepares foundation for taking advantage of innovative financing resources and development and deepening of domestic capital market. Moreover, integrate
gender lens in various sustainable finance aspects by designing products and alternative forms of collateral to increase women’s access to finance.
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