As previous readers know, I am a strong believer in the critical role the private sector has to play in financing the recently adopted Sustainable Development Goals (SDGs). This new global framework with its ambitious post-2015 development agenda will need a different magnitude of financing, one that will surpass the current capacities of governments and international donors. I have highlighted, in previous posts, the need to leverage the “billions” in Official Development Assistance (ODA) to attract and mobilize “trillions” in investments of all kinds: public and private, national and global, in both capital and capacity.
sustainable development goals
It is often said that we live in a new data age. Institutions such as the Bank, UN agencies, NASA, ESA, universities and others have deluged us with an overwhelming amount of new data obtained painstakingly from countries and surveys or observed by the increasing number of eyes in the sky. We have modern tools such as mobile phones that are more powerful than old mainframes I used to use in my university days. You can be in rural Malawi and still have access to decent 3G data networks.
Fifteen years from now, will you remember where you were when the UN General Assembly adopted the Sustainable Development Goals (SDGs)?
Friday, September 25, 2015 may not be one of those days that the general public will remark on, but it is a milestone in development history. The SDGs set a new and ambitious agenda that we at the World Bank Group, together with our partners, will work to achieve along with our own goals of ending poverty and boosting shared prosperity by 2030.
The global economy, climate change, infrastructure, the food system – these are just a few of the hot topics that will be addressed in Lima, Peru, in the lead-up to the Annual Meetings of the World Bank Group and International Monetary Fund the week of Oct. 5.
The annual gathering of ministers from 188 countries takes place just two weeks after a historic vote at the United Nations to adopt Sustainable Development Goals. Government ministers will again discuss the SDGs at the Oct. 11 meeting of the Development Committee of the World Bank Group and IMF.
This week, the world’s countries are coming together at UN headquarters in New York to affirm the 17 Sustainable Development Goals (SDGs) that will guide global development efforts through 2030. While the SDGs have had plenty of active involvement and support from the World Bank Group and our multilateral counterparts, the countries themselves have set this agenda.
The agenda is both ambitious — more than doubling the eight Millennium Development Goals that will officially expire at the end of 2015 — and more comprehensive. For example, where the first MDG set out to “Eradicate extreme poverty and hunger,” its successor SDGs take on these challenges in their entirety: “End poverty in all its forms everywhere” (Goal 1) and “End hunger, achieve food security and improved nutrition, and promote sustainable agriculture” (Goal 2). And in a world whose “emerging markets” now include larger economies than many members of the European Union, countries have chosen to make these goals universal, equally applicable to the globe’s richer and poorer nations.
Tomorrow morning, Pope Francis will kick off the UN General Assembly’s session on the Sustainable Development Goals (SDGs) and by the end of the day, the world’s leaders will have affirmed the 17 goals. This is a momentous occasion, worth celebrating, but the hard work begins Monday morning. That’s when the focus shifts from what to how.
The first 16 goals cover a range of critical development needs, expanding on the Millennium Development Goals that have guided development efforts since 2000. The final SDG is qualitatively different. Rather than expound on what we want to achieve, it addresses how we will achieve the goals. It focuses on the means of implementation.
At this week's UN Sustainable Development Summit, the world's oceans will be getting the attention they have long deserved -- but not always received. They are the focus of Sustainable Development Goal 14: "Conserve and sustainably use the oceans, seas, and marine resources for sustainable development."
The inclusion of oceans for the first time in the international-development agenda illustrates the ambitious and holistic view of challenges and solutions that nations are embracing. With the SDGs, nations are calling for a future in which nature is managed to drive economies, enhance well-being and sustain lives -- whether in Washington or Nairobi, on land or sea.
Fifteen years ago, nations convened at the UN and created an unprecedented set of guideposts, the Millennium Development Goals. In that timespan, the number of people living in extreme poverty was more than halved. But the oceans were not part of those goals. We now have the opportunity to focus minds globally on restoring healthy oceans for resilient economies and thriving communities.
This attention comes not a moment too soon.
- What's Working: Sustainable Development Goals
- disaster risk management
- coral reef
- food security
- marine resources
- ocean health
- sustainable development goals
- Sustainable Development
- Agriculture and Rural Development
- Climate Change
- East Asia and Pacific
- Latin America & Caribbean
- Sierra Leone
By encouraging private investment in infrastructure, we can spur growth in the developing world
Later this month the United Nations is expected to finalize its Sustainable Development Goals, a global action plan designed to end poverty and support long-term growth. One of the goals states, “Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation.”
In many parts of the developing world, from Asia to Latin America, a massive infrastructure shortfall may be the single most significant obstacle to human and economic development. Addressing it will underpin progress on many of the SDGs.
This fall is a pivotal time for the international development community. We are shifting from a Millennium Development Goal that challenged the world to halve the global extreme poverty rate, to a Sustainable Development Goal that asks us to build on that momentum and work toward a true end to extreme poverty.
Make no mistake; this will not be easy. We will need sustained, shared growth, with a special emphasis on agricultural growth in the poorest countries. We will need programs and policies that are equitable, ensuring that every child has the same opportunities to succeed in life, and that all citizens are able to benefit from fiscal and social systems and representative institutions. And we will need to ensure that those who live in extreme poverty, and those who are vulnerable to falling back in, are protected when global or local markets fail, and when disease and drought persist in their communities.
The release of the joint statement “From Billions to Trillions: Transforming Development Finance” at the World Bank-IMF Spring Meetings is one of the most satisfying moments during my two-year tenure as Managing Director and World Bank Group CFO.
My one regret is that the title should have been Billions for Trillions.