The Knowledge Fair and Consultation on Financing Decent Work
The Knowledge Fair and Consultation organized by the ILO on 10-11 September 2019 facilitated expert-led consultations and sharing of experiences on innovative financing, as well as opportunities and risks with an overarching view on the promotion of decent work. The conversation was key to explore a non-traditional engagement and collaboration with multiple stakeholders in the context of Decent Jobs for Youth and other areas of work of the Employment Policy Department.
To achieve the SDGs, the financing for the goals must be scaled up. Along the lines set out in the Addis Ababa Action Agenda of 2015, UN agencies are making efforts to increase financing for development, including both domestic and international resources for development and both public and private sources. Increasingly new mechanisms such as impact investments, crowd-funding and social impact bonds are being developed. The impact of such new mechanisms on development outcomes and any associated risks are still being assessed.
As an integral part of the SDGs, financing Decent Work must be similarly scaled-up. In March 2019, the ILO Governing Body discussed a paper and a reference document on this point, and requested the Office to take into account its guidance on the ILO’s engagement in innovative finance mechanisms and implement the proposed way forward.
This Knowledge Fair and Consultation will discuss the experience and findings of the ILO and its constituents, the experience of other development actors, together with an early assessment of impact and risks. A series of recent reports on Financing for Development including the ILO Social Finance Working Paper No. 75 will serve as background to the discussion.