In September, the OECD Network of Foundations Working for Development (OECD netFWD) and WINGS issued a statement emphasizing the vital role of private philanthropy in the United Nations’ Summit of the Future. They highlighted that private philanthropic funding for development reached 42 billion USD from 2016 to 2019, crucially supporting efforts to alleviate poverty and advance the Sustainable Development Goals (SDGs). The statement calls for increased resources in lower-income countries and a commitment to inclusive local funding mechanisms. It advocates for strengthening partnerships and innovative financing approaches to address inequalities and enhance civic space. The group aims to ensure that philanthropic contributions are recognized within international development frameworks, urging multilateralism that is effective and representative of diverse stakeholders. Read more here.
Source: OECD