The MDGs’ Financing Framework and its Implications for the Post-2015 Development Agenda: An African Perspective

A clear and sustainable financing strategy is essential to achieving the post-2015 Sustainable Development Goals. This paper assesses the strengths and weaknesses of the financing strategy adopted under its predecessor, the MDGs, drawing out important lessons for the post-2015 development agenda. It argues that the post-2015 financing framework will need to deviate from the MDGs’ financing model in some remarkable ways in order to achieve the proposed set of goals. A broad-based and multi-stakeholder approach, which deemphasizes the top-down approach adopted under the MDGs, must be implemented. Drawing on our recent study on the domestic revenue potential of some sub-Saharan African nations, we argue that by exploring existing and emerging domestic financing options including taxes, domestic saving, domestic philanthropy, remittances and diaspora support, African countries can significantly improve their domestic revenue potential for the post-2015 development agenda.