Sustainable Development GoalsFinancing for Development

Final Project

Fin4Dev ::::: Final ProjectHistory: MDGs

In 2000, the United Nations have launched a program called "Millennium Development Goals" which established 8 goals for the world's development between 2000 and 2015 (http://www.un.org/millenniumgoals/). These goals were (i) eradicate extreme poverty and hunger, (ii) achieve universal primary education, (iii) promote gender equality and empower women, (iv) reduce child mortality, (v) improve maternal health, (vi) combat HIV, AIDS, Malaria and other diseases, (vii) ensure environmental sustainability and finally (viii) a global partnership for development. This global partnership for development was crucial to achieve most of the goals established, but we were not able to be 100% successful, but as a result, the number of people living in extreme poverty (living with less than $1.25 a day) has reduced by almost 50%, the number of children not in school downed by almost half, people receiving treatment for HIV increased by 15 times, and child mortality decreased nearly 50%.

Fin4Dev ::::: Final ProjectHistory: SDGs - Launching

Now, in September 2015, at UN Headquarters in New York, several leaders of the world along with global institutions such as World Bank Group, United Nations, Multilateral Development Banks and International Monetary Fund, have agreed on a new set of goals to align strategies for the next 15 years development in our world. These goals are called Sustainable Development Goals (SDGs) and they are far more challenging than the MDGs.

They are 17 goals to achieve 3 extraordinary things: (i) to end extreme poverty, (ii) fight inequality and injustice and (iii) to fix climate change. These 17 new goals open up to 169 different activities to support them and they will need a global mobilization to turn it possible to achieve all of them until 2030. The World Bank estimates that 2-3 trillion dollars will be needed to accomplish all the 17 goals.

Fin4Dev ::::: Final ProjectFinancing for Development: Mobilization, Resources and Sources for Financing

That's why we have to mobilize governments (National, Sub-National and Local), communities, financing institutions, companies, funds, philanthropy groups and all of the available resources we can reach, to help achieve these ambitious targets.

ODA (Official Development Assistance) plans to put in around $135 billions per year to incentivize all sectors to mobilize in the path of turning these billions to trillions. There are many forms of financing the world sustainable development.The most important thing is that we, as citizens of this world, have to align our strategies, our speeches and our day-by-day lives to these objectives.

Fin4Dev ::::: Final ProjectFinancing for Development: The role of Private Sector

Banks are already asking for sustainability reports from companies to finance their projects, and this will be just one of the ways to promote the SDGs. As the goals are very ambitious, they demand equal ambition using the billions from ODA and in available development resources to attract, leverage and mobilize trillions in investments of all kinds, such as public and private, national and global in both capital and capacity.

In this path, private investment will play a very important role along with public financing, global finance for development from MDBs, remittances and so on. Investments in infrastructure will be very important to leverage all other investments from private sector and will make possible to sustainable economic growth in the world.

Fin4Dev ::::: Final ProjectFinancing for Development: Public Private Partnership

Governments have to find their ways to attract all these infrastructure investments, financing private infrastructure companies through "additionallity", concessional loans and grants.We have a lot of work to do if we want to have a better world for us and for our children in the future.

Advances in technology are more and more enhancing our life expectancy and we are not building a better world for our children or for generations to come anymore. We are, right now, building a better planet for ourselves. Let's do it the best possible one, embracing the Sustainable Development Goals as our strategic plan!

How you and your company can be part of the global partnership to achieve the SDGs: Click Here

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