We are pleased to share that the multilateral platform SOURCE has been selected as a recommendation and quick win at the Summit for a New Global Financing Pact, organized by the French President on June 22-23, with the objective to raise additional donor funding to allow the deployment of SOURCE in all candidate countries.
SOURCE is an online software, delivered as a public good and hosted by the United Nations, that strengthens countries’ capabilities to manage the process of project preparation for sustainable infrastructure and to monitor project pipelines. Technical assistance allows to adapt the SOURCE digital application to each national regulation and to train users on the best use of the platform.
As a technology solution, SOURCE strengthens countries’ capability to manage the process of sustainable infrastructure development, is fully aligned with the objectives of the Summit and fully adaptable to each countries’ processes and interoperable with complementary IT systems. By supporting an ambitious scaling up of SOURCE, donors will pave the way towards strong cooperation of state and non-state actors towards meeting the SDG targets and the net zero objective.
40 countries expressed their willingness to deploy the SOURCE platform as a key factor to finance and label quality infrastructure. The deployment of SOURCE is currently ongoing in 13 countries, of which 9 are in progress, 3 are completed and 1 is on hold. The French Development Agency, the Asian Development Bank and the European Commission were delighted to announce a first quick win at the Summit: a total of EUR 5 million of commitments will allow the deployment of the SOURCE digital platform to 17 additional candidate countries, ensuring the integration of the software across 30 countries in total.
The proposed roadmap to build on key milestones of the international agenda as a follow-up to the Summit for a New Global Financing Pact recommends that building on SOURCE, the network Finance in Common shall prepare the necessary conditions towards a future platform for sharing project preparation assessments and sectoral studies by countries, public development banks and development financial institutions, including a public version for non-sensitive data by the Finance in Common Summit in Cartagena on 4-6 September 2023. It further asks the Sustainable Infrastructure Foundation to mobilise donors to deploy the SOURCE platform in more countries to support quality infrastructure standard by the G20 Summit in Brazil on 12-14 July 2024. We are pleased to say that conversations are ongoing with bilateral and multilateral donors.
“SOURCE is a powerful enabler for governments on their path towards sustainability, consistent with the ambition of the New Global Financing Pact Summit. The digital application breaks down silos and plays an essential bridging and capacity building function between the multiple actors. I am proud that AFD supports the deployment of SOURCE in South Africa, Angola, Tanzania and Egypt to accompany the preparation of a strong pipeline of Sustainable Infrastructure projects. I believe SOURCE is of interest for all Public Development Banks: let’s discuss it at the Finance in Common Summit in Cartagena 4-6 September.”
Rémy Rioux, CEO, French Development Agency