Sattoriy Fayzullokh Abdijabbor ugli Essay

Sattoriy Fayzullokh Abdijabbor ugli

Essay

Our society, economy, and environment are inherently depend on each other. Problems in one area are invariably reflected in others. Huge environmental and socio-economic problems are increasingly threatening life and livelihoods around the world. The Sustainable Development Goals and the 2030 Agenda emphasized that need to address the major challenges of our time and find sustainable ways that will contribute to the long-term solution of these problems. Now a new generation of political innovations is aimed at ensuring that the financial system meets the needs of comprehensive, environmentally sustainable economic development.

However, the universality of goals does not only apply to their implementation in all countries, but also determines the responsibility of various countries for the implementation of problems requiring global action in areas such as financing. Implementation of this agenda gives to developing countries to expand their participation in financial processes at the global level as their influence grows, thereby this influence changes in governance of the country. Also, good governance allows private sector investors to have the same level of protection of property rights, allowing countries with strong human capital to prepare projects without relying on multilateral investors or their advisors (Sergei Guriev, 2016). States with good governance and the right skills will be ready and able to implement a reform program for development. Most of financial organizations provide with money to developing and low income countries for implementing SDGs. If developing countries have to find all of this money on their own for SDGs, especially in low-income countries, this money could be huge influence on the economy. Because, the foreign aid which is taken by international financial institutions are equivalent to about 15 per cent of GDP. Even in emerging market economies, these are be equal to 4 percent of GDP of the countries (Sergei Guriev, 2016).