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FINS: Financing for Small Island Developing States
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Video: Inside FINS initiative – Supporting Integrated National Financing Frameworks in Dominican Republic
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What is FINS?
The Financing for Small Island Developing States (FINS), a United Nations Department of Economic and Social Affairs (UN DESA) pilot initiative, aims to support targeted SIDS in strengthening their capacity to mobilize and align financing with their national priorities using the Integrated National Financing Framework (INFFs) approach.
INFFs help to lay out the full range of financing sources – domestic and international sources of both public and private finance – and allows countries to develop a strategy to increase investment, manage risks and achieve sustainable development priorities, as identified in a country’s national plan.
INFFs are developed and implemented through four building blocks: assessment and diagnostics, financing strategy, monitoring and review, governance and coordination. Each building block represents a critical component in building national capacity to strategically plan and manage the financing of sustainable development actions. Designing and implementing activities within each of these building blocks is an iterative process, with progress in each building block reinforcing the development of the others.
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Why Small Island Developing States (SIDS) need support?
Small Island Developing States (SIDS) face unique and pressing challenges, particularly when it comes to financing for development. Due to their geographic isolation, small economies, and vulnerability to extreme weather events, SIDS are on the frontlines of climate change, economic shocks, and environmental degradation. Accessing affordable finance is often difficult for these nations, and many struggle with high levels of debt, limited fiscal space, and fragile ecosystems. This makes it crucial for SIDS to secure sustainable financial solutions to achieve their national development goals and the Sustainable Development Goals (SDGs).
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FINS supports SIDS in two ways:
National Capacity Building
Regional and Global Engagement (FINS Xchange)
FINS deploys an embedded consultant within the SIDS Ministry responsible for planning and/or finance. Together with the technical team from UNDESA, the national consultant helps countries develop, implement, and monitor financing strategies using the INFF approach to achieve national priorities.
FINS facilitates knowledge sharing and peer learning across SIDS through the FINS Xchange platform. This allows countries to exchange best practices, learn from each other's experiences, and strengthen their collective response to development challenges. It also connects them to the broader INFF Community of Practice, enhancing global partnerships for sustainable financing.
Events
Aplicación de los Marcos Nacionales Integrados de Financiación (INFF) Estrategia de Financiamiento en la República Dominicana">
Application of the Integrated National Financing Framework (INFF) Financing Strategy for the Dominican Republic">
Building Resilient Financing Pathways for SIDS: Country Experiences under the Financing for SIDS (FINS) Initiative">
Achieving Seychelles National Development Strategy: The Benefits of an Integrated National Financing Framework (INFF) Training Workshop: Training of Trainers (TOT)">
Achieving Fiji’s National Development Plan: The Benefits of an Integrated National Financing Framework (INFF) INFF Training Workshop">
