UN estimates funding need of $743M to achieve PHL dev’t framework goals

THE United Nations (UN) said it needs about $743 million until 2028 to support human capital investments, job-quality improvements, and accelerated climate action in the Philippines.

The targeted projects fall under the 2024-2028 UN Sustainable Development Cooperation Framework, which is designed to help the Philippines achieve its national development priorities.

“The current value of the framework sits at around… $743 million, so this is what we call like the required resources to do the work that has been set up,” Matija Kovač, head of office at the UN Resident Coordinator, said at a briefing on Tuesday.

“At this stage, a little bit less than half is actually secured,” he added.

Mr. Kovač noted that the estimate cited is the funding requirement as of April and is subject to revision by year’s end.

The framework focuses on three strategic priorities: human capital development; sustainable economic development, decent work, innovation; and climate action, environmental sustainability, and disaster resilience.

For 2024, the Philippines will need $231 million, with $179 million available and $52 million yet to be sourced.

The country will need $158 million in 2025, $143 million in 2026, $120 million in 2027, and $92 million in 2028.

Between 2024 to 2028, the UN has obtained around $342 million to fund the implementation of its country strategy, Mr. Kovač said.

The UN estimates that around 30% of the secured funding comes from multi-partner funds, while 28% comes from bilateral sources like Australia, Japan and South Korea, 20% sourced from multilateral partners, and 10% from core and domestic resources.

“This is an investment and we are mobilizing resources, and although we still have a gap, the likelihood of getting these figures is very high,” Gustavo González, UN Resident Coordinator and Humanitarian Coordinator, told the briefing.

Leila Saiji Joudane, Country Representative for the UN Population Fund Philippines, said the UN has secured 72% of the $120 million for human capital development projects.

This will fund better healthcare access; school feeding; alternative learning systems, and comprehensive sexuality education; child protection systems; and public services and digitalization, among others.

Ms. Joudane cited the importance of investing in human capital development, with 60% of the Philippine population deemed in the “productive” age cohorts. — Beatriz Marie D. Cruz