The Financing Framework for Sustainable Development in Emerging Economies: The Case of Uruguay

• Main Authors: Nicolás Gambetta, Paula Azadian, Victoria Hourcade, María Elisa Reyes
• Format: Article
• Language: English
• Published: MDPI AG 2019-02-01
• Series: Sustainability
• Subjects: sustainable development; financing instruments; financing sources; emerging economies; Uruguay
• Online Access: https://www.mdpi.com/2071-1050/11/4/1059

This paper explores the financing framework for sustainable development in Uruguay, an emerging economy, and examines whether available financing instruments contribute to achieving the sustainable development goals (SDGs) in which significant progress is still required in this country. Reports, policy documents and academic literature were reviewed to determine the types of sustainable development financing instruments available, and to analyse the challenges facing emerging economies in this regard. In addition, the financing programmes available from the public sector, non-governmental organisations (NGOs), the financial sector and multilateral credit agencies were examined. The results obtained show that the main financing sources for sustainable development are located within the public sector due to the absence of a developed financial market, and that the existing financial instruments do not address the SDGs where most attention is required. The latter circumstances make it challenging to achieve these SDGs in Uruguay. The study findings highlight the need for greater coordination among all parties to make efficient use of the scarce resources available to an emerging economy and thus enable it to meet its SDGs.