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International Financial Institutions Earmark $400bn for SDGs

Editor by Editor
July 13, 2015
in Uncategorized
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  • The African Development Bank, Asian Development Bank, European Bank for Re­construction and Development, European Investment Bank, Inter-American Development Bank, the World Bank Group (referred to as the MDBs), and the International Monetary Fund (IMF), announced their plans in the lead-up to the third Interna­tional Conference on Financ­ing for Development in Addis Ababa,opening today.
  • The SDGs are ambitious and demand equal ambition in us­ing the “billions” of dollars in current flows of official devel­opment assistance (ODA) and all available resources to attract, leverage and mobilise “trillions” in investments of all kinds.
  • ODA, estimated at $135 bil­lion a year, provides a funda­mental source of financing, es­pecially in the poorest and most fragile countries. But more is needed to achieve the targets.
  • In­vestment needs in infrastructure alone could be up to $1.5 trillion a year in emerging and develop­ing countries and meeting the staggering but achievable needs of the SDG agenda requires ev­eryone to make the best use of each dollar from every source, and draw in and increase pub­lic and private investment. The MDBs – the engines of develop­ment finance – are looking to a range of options for scaling up.
  • MDB development finance has grown from $50 billion in 2001 to $127 billion in 2015 giv­en that for each dollar invested by its shareholders, MDBs are able to commit $2-5 in new fi­nancing each year.
  • The MDBs’ own direct private sector invest­ments have increased fourfold over this period. They mobilise an additional $2-5 in private in­vestment for every dollar they invest directly in private sector operations. But there is strong commitment ontheir part to in­crease contribution to more than $400 billion over the next three years reflecting in part efforts to make even better use of their bal­ance sheets.
  • Source: The Sun

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    Financial steps you must take in your 40s to be rich

    Financial steps you must take in your 40s to be rich

    July 3, 2022
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    Nigeria’s Israel Adesanya set to earn up to $1.8million for defeating Jarred Cannonier

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