Preliminary findings and proposals by Task Force 5 on 2030 Agenda and Development Cooperation

Supporting debt relief initiatives for fragile countries

The T20 Task Force 5 (TF5) takes stock of the priorities identified by the Italian G20 Presidency on debt relief and the increase of fiscal space for Least Developed Countries (LDCs), particularly in the African continent, but also for Low and Middle Income Countries (LMICs).
TF5 welcomes the proposal to postpone the end of the Debt Service Suspension Initiative (DSSI) until the end of 2021, the initiatives to implement the Common Framework for Debt Treatments beyond the DSSI to address debt vulnerabilities on a case-by-case basis, and the proposals for a Special Drawing Rights (SDRs) re-allocation to support the most fragile countries in the world.
As for SDRs re-allocation the TF5 underlines that the conditions and modalities through which it will be implemented are crucial to increase effectiveness. In this regard, the TF5 re-iterates the importance of ensuring that these fiscal initiatives are aligned with national plans and needs, manage to leverage private sector’s investments and ensure easier access to capital markets. An option to be explored could be the creation of a Liquidity and Sustainability Facility, such as the one promoted by the UN Economic Commission for Africa.

Supporting resilient agri-food systems

TF5 is promoting the debate over how to achieve a comprehensive approach to food security and nutrition, stressing the need to invest not only in access to food for all, but also in the promotion of more sustainable production and consumption value chains, involving the private sector.

TF5 will monitor closely both the UN Food Systems Summit 2021 and the Finance in Common Summit.

Education

TF5 reiterates the importance of education as a global public good both to counter the immediate effects of the pandemic (e.g. school dropouts) and to support the promotion of adequate skills to ensure a sustainable development.

TF5 stresses the importance of supporting cities, universities and higher education institutions to achieve a sustainable development transformation. It is examining what the G20 can do to support UNESCO’s ongoing efforts to address the fragmentation of the global architecture for educations and to set policy priorities to improve education policy

Rule of law

TF5 underlines the importance of the rule of law as an accelerator of sustainable development transformation. It welcomes the establishment of a Global SDG16 Forum that brings together a wide range of institutional and non-institutional stakeholders.
The TF also welcomes the proposal to create a Global SDG16 Fund, as a way to support the implementation of innovative and impactful measures helping to build peaceful, just and inclusive societies.

Sustainable technologies and role of smes to drive towards creative economies

TF5 stresses the need for the G20 to support Small and Medium Enterprises (SMEs)’s role in the SDGs implementation, and startups in developing strategies to achieve a better and more sustainable future SusTech.
In addition, TF5 emphasizes the crucial role played by creative economy and cultural industries to promote a more effective post-recovery agenda.

Task Force 5 – Preliminary Policy Recommendations