SDG 17: Partnerships for the Goals recognizes the need to implement and revitalize global partnerships to support sustainable development. Robust partnerships between regulators, policymakers and the private sector are necessary to achieve each of the SDGs. Regulators, who operate under a legal mandate to set and enforce rules for market compliance, must balance such priorities as market growth, transparency, competition, stability, and safety to minimize turbulence and risk, while enabling needed advancements.1 Policymakers must coordinate efforts to create logical and coherent frameworks for macroeconomic stability, and to mobilize and share knowledge, expertise, technology and financial resources to support the achievement of the Sustainable Development Goals in all countries, in particular developing countries. Examples of synergies between SDG 17 and other goals are highlighted below.

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Invest in Access to Financial Services

Widespread access to financing options is dependent on active coordination and partnership between local financial services institutions, financial technologies, and/or national and global economic entities. Indeed, the health and future of the entire financial services system is dependent on transparent, accountable, and collaborative institutions working together on behalf of the world’s poorest and most vulnerable people. Without the kind of robust partnerships imagined in SDG 17: Partnerships for the Goals, there will be little hope of achieving any of the other SDGs and or of making low-cost, quality financial services accessible.2

Innovation can spur growth and competition in financial markets and provide new and better options for customers.3 But without careful, balanced regulation, it can also present serious risks to consumers. Examples from around the world show that regulators can encourage
innovation in a manner that promotes a safe and efficient marketplace. The partnership between regulators, policymakers and the private sector is necessary to achieve access to financial services for all individuals. Such partnerships are especially important for rural and low-income populations to gain access to financial and other vital services via mobile and other technologies.4

Invest in Access to Telecommunication Systems

The rapid development of information and communication technology (ICT) based services and systems offers the possibility for the needed
transformation of the world economy and illustrates the truly interconnected nature of global development. ICT will play a special role in today’s low-income and lower-middle-income countries, and with poor and moderate-income families everywhere. Mobile phones have already allowed for dramatic breakthroughs in e-finance, such as mobile payments and credit, along with e-health, overcoming long-standing gaps in access to facilities such as bank branches and clinics. However, while private sector applications of ICT have soared, the need for regulation and crossborder rulemaking has also soared. Robust partnerships among global and regional institutions are imperative to ensure equal access to the essential technology and communications systems across the globe.5

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SDG 17: References

1 https://www.pewtrusts.org/research-and-analysis/reports/2018/08/02/how-can-regulators-promote-financial-innovation-while-also-protecting-consumers
2 http://siteresources.worldbank.org/INTFINFORALL/Resources/4099583-1194373512632/FFA_ch04.pdf pages 143-144
3 https://www.brookings.edu/wp-content/uploads/2016/07/noslack_chapter.pdf
4 https://www.pewtrusts.org/research-and-analysis/reports/2018/08/02/how-can-regulators-promote-financial-innovation-while-also-protecting-consumers
5 http://unsdsn.org/wp-content/uploads/2015/09/ICTSDG_InterimReport_Web.pdf pages 3-5