SDG National Commitments Form: Submission #12

Please outline briefly the commitment(s) made in the areas outlined above We are supporting the restructuring of the international financial system to achieve systematic alignment of all financial flows with the SDGs in order to close finance gaps for implementation of the 2030 Agenda and promote implementation of the Addis Ababa Action Agenda.
We are also driving forward the reform of the World Bank Group and of multilateral development banks in order to place a greater focus on global challenges and support long-term transformation processes. We are pursuing the same objective within the framework of reforming the European financial architecture for development.

• Germany advocates reform of the World Bank Group and of the system of multilateral development banks (MDBs). Germany is willing to make a substantial contribution to enhance the financing capacities of a reformed World Bank. Germany supports the call, for example from the G20 Independent Expert Group, for all MDBs to adapt their mandates and reform their financial models in order to be able to cover the growing global financing demand for the provision of global public goods (GPGs). This includes incorporating GPGs into MDB mandates, target systems and business models, improving financial and non-financial incentive systems to finance transboundary GPGs (including climate and biodiversity) in partner countries, developing a system to allocate concessional finance for projects and reforms that make the greatest contribution to protecting GPGs, striving for closer cooperation among MDBs (MDBs as a system), strengthening partnerships, e.g. with the UN system and mobilising private investment for sustainable transformation.

• Germany is advancing implementation of the two-pillar solution, developed as part of the OECD Inclusive Framework on BEPS, for the taxation of multinational enterprises, especially regarding global minimum taxation. It is also supporting implementation in developing countries.

• Germany advocates implementation of the G20 framework for voluntary support to INFFs. It is also supporting partners in implementing integrated national financing frameworks (INFFs) to link national development goals and the required financing, and to enhance joint action by donors through bilateral or multilateral development cooperation and forums (e.g. G20, INFF Facility).

• Germany will advocate convening a Fourth International Conference on Financing for Development (FFD4) in 2025.