The UN Joint Sustainable Development Goals (SDGs) Fund on Monday announced an additional $54.5 million  in investments for projects across five countries to put the SDGs back on track.

UN, in a statement, stated that Kenya, Madagascar, North Macedonia, Suriname and Zimbabwe were selected from proposals submitted by more than 100 countries, as being the most impactful and investment-ready to take public.

“The Fund is in a position to bridge the gap in giving and impact investing,” Hiro Mizuno, UN special envoy on innovative finance and sustainable investments said.

According to Mr Mizuno, the fund offers a sustainable investment model by leveraging the power of markets to accelerate businesses, empower communities, and provide a clear path to self-sufficiency.

“From health in a world still plagued by the COVID-19 pandemic to youth empowerment and climate change, the investments will respond to the challenges of our time,” he added.

Under the leadership of UN resident coordinators, implementation of investment programmes will fuel the UN footprint in the five nations, ushering in a new generation of collaborative action by the UN, government, civil society, and private sector investors.

Through a development impact bond, the investments include a platform that encourages healthy sexual and reproductive habits, and HIV prevention in Kenya.

Madagascar will use a variety of financial instruments, including a newly established sovereign fund, to finance renewable energy projects, and expand access to affordable, sustainable energy.

North Macedonia’s newly created Green Financing Facility will help finance a transition to renewable and efficient energy for underserved households and businesses.

(NAN)