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Achieving trillions out of billions

Bertrand Badré's picture


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.

Why?

​SDG target focusing on identification critical to supporting achievement of post-2015 development goals

Mariana Dahan's picture
Photo: © UNICEF/BANA2012-02020/Jannatul Mawa

This week, multilateral development banks (MDBs) and IMF representatives gathered for Third International Conference on Financing for Development in Addis Ababa (FFD3) committed to extend more than $400 billion in financing over the next three years and vowed to work more closely with private and public sector partners to help mobilize the resources needed to meet the historic challenge of achieving the Sustainable Development Goals (SDGs).

From this perspective, FFD3 presented a unique forum for recasting development financing to meet the approach of the post-2015 development agenda. But more is needed. Investment needs in infrastructure alone reach up to US$1.5 trillion a year in emerging and developing countries.

Meeting the staggering but achievable needs of the SDG agenda requires everyone to make the best use of each dollar from every source. This means tracking with precision where, when and to whom has the money been disbursed and for what development end. It requires knowing precisely who the beneficiary was and being able to uniquely establish his/her identity. 

This is the first time that a target relating specifically to identity has been put forward as part of the global goals, as target #16.9: “Provide legal identity to all, including birth registration, by 2030.

Not only there is an intrinsic value of conferring a universal legal identity, but the identity target in the post-2015 development agenda is instrumental in achieving many of the SDGs. Indeed, the provision of robust means of identification would support the achievement of at least 10 goals:

Achieving trillions out of billions

Bertrand Badré's picture

The release of the joint statement “From Billions to Trillions: Transforming Development Finance” at our 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.

Why?

Financing the Sustainable Development Goals (SDGs) will require everyone to make the best use of each dollar from every source, and to draw in and increase public and private investment. 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 mobilize “trillions” in investments of all kinds —public and private, national and global.

The traditional foundation of ODA, estimated at US$135 billion a year, provides a fundamental source of financing, especially in the poorest and most fragile countries. But more is needed. Investment needs in infrastructure alone could reach up to $1.5 trillion a year in emerging and developing countries.

Blog post of the month: 5 things you should know about governance as a proposed sustainable development goal

Vinay Bhargava's picture

South Sudanese prepare for independenceEach month People, Spaces, Deliberation shares the blog post that generated the most interest and discussion. For June 2015, the featured blog post is "5 things you should know about governance as a proposed sustainable development goal" by Vinay Bhargava, the chief technical adviser and a board member at Partnership for Transparency Fund

On May 27, I had the pleasure of serving as a panelist at an event organized by the Governance Thematic Group of 1818 Society of the World Bank Group (WBG) Alumni.

The panelists were: Mr. Homi Kharas, Senior Fellow and Deputy Director for the Global Economy and Development program at the Brookings Institution; Ms. Heike Gramckow, Acting Practice Manager, Rule of Law and Access to Justice at the Governance Global Practice at the World Bank Group; Mr. Brian Levy, Professor of the Practice, School of Advanced International Studies (SAIS), Johns Hopkins University; Mr. Jerome Sauvage, Deputy head of UN Office in Washington DC. Mr. Fredrick Temple, currently Adviser at the Partnership for Transparency Fund, moderated the workshop. 
 
The panel presentations and discussion were hugely informative and insightful. I am pleased to share with you my five takeaways that anyone interested in governance and development interactions ought to know.

Digital IDs: A powerful platform for enhanced service delivery across all sectors

Mariana Dahan's picture
Lack of personal official identification (ID) prevents people from fully exercising their rights and isolates them socially and economically — voting, legal action, receipt of government benefits, banking, and borrowing are all virtually closed off. The widespread lack of ID in developing countries is a critical stumbling block to national growth.
 
Digital IDs can help provide access to
critical services, including health care.

Digital IDs, combined with the already extensive use of mobile devices in the developing world, offers a transformative solution to the problem — a simple means for capturing personal ID that can reach far more people, as well as and new, more efficient ways for government and business to reach and serve the population.
 
Given the importance of the topic, the 2016 World Development Report (WDR) includes a Spotlight on Digital Identity, which has been developed by the authors in collaboration with various stakeholders within and outside the World Bank Group.

The 2016 WDR — the World Bank's major analytical publication — aims to advance our understanding of how economic growth, equity of opportunity and public service delivery are being affected by rapid diffusion of digital technologies. This section in 2016 WDR focuses on critical aspects, such as benefits to developing countries and implementation arrangements for Digital ID programs.

What are we doing to promote family and prevent its extinction in development?

Leszek J. Sibilski's picture

Family from Anmu village, Zanskar, IndiaMost sociologists consider the family unit to be a fundamental building block of society. However, it is largely absent as a topic in international development goals. Should this be the case?

"The great danger for family life, in the midst of any society whose idols are pleasure, comfort and independence, lies in the fact that people close their hearts and become selfish." - Pope John Paul II
 
A recent report led by Stanford, Princeton, and Berkeley universities said vertebrates are disappearing at a rate 114 times faster than normal. These findings echo those of a similar report published by Duke University last year. One of the new study’s authors said: “We are now entering the sixth great mass extinction event.” The last such event was 65 million years ago, when dinosaurs were wiped out, in all likelihood by a large meteor hitting Earth.
 
In light of this apocalypse-like news, I would like to take a closer look at yet another endangered, but a bit more tangible element of life on planet Earth, namely, the family. As humankind, along with plants and animals approach what is being called the sixth great mass extinction, I wonder if it will be an event that humans go through en masse as loners, (the atomistic man as the only unit in society), or as people knit together by ties to a nuclear and extended family. I often think that the role of the family is too-often neglected and has been taken for granted in our day. The all-consuming drive and ambitious personal priority of the individual in today’s world makes me worry that families may one day go, and, as the family goes, so will go civilization.

How to finance development: Six ideas from young leaders

Martin Sterlicchi's picture
Young women look at their mobile phones during a community meeting in India. © Simone D. McCourtie/World Bank


Juancito is from a small town in rural Peru. He wakes up every day at 5 a.m. to walk two hours to get to school. One day, he fell and twisted his ankle, but because the nearest health clinic is three hours away, his teacher had to fill in as a health care provider.
 
Juancito’s story provided the inspiration for the third-place winning team of the first Ideas for Action Competition, sponsored by the World Bank Group and the Wharton Business School. The team noted that the local government — which receives royalties from a mining company — didn’t lack the funds needed for development, but community needs were being overlooked. 

It is time to measure development finance wholly and universally

Gail Hurley's picture

At the start of 2016, the United Nations will launch a new set of Sustainable Development Goals, or SDGs, to drive development efforts around the globe. But one question still needs some thought: How will we finance these new goals?

Even more questions lie within this broader question on finance. Which countries need more resources? What types of resources are needed most? Where does international finance, both public and private, currently flow? Where does it not? Answers to all of these require reliable and easy-to-understand data on all international financial flows.

When governments convene in July in Addis Ababa, Ethiopia to agree on a framework for financing the new sustainable development agenda, there will be a key window of opportunity to improve the existing, haphazard approach to data collection and reporting.

5 things you should know about governance as a proposed sustainable development goal

Vinay Bhargava's picture

South Sudanese prepare for independenceVinay Bhargava, the chief technical adviser and a board member at Partnership for Transparency Fund, provides five takeaways on governance and development interactions from a recent panel discussion hosted by the 1818 Society.

On May 27, I had the pleasure of serving as a panelist at an event organized by the Governance Thematic Group of 1818 Society of the World Bank Group (WBG) Alumni.

The panelists were: Mr. Homi Kharas, Senior Fellow and Deputy Director for the Global Economy and Development program at the Brookings Institution; Ms. Heike Gramckow, Acting Practice Manager, Rule of Law and Access to Justice at the Governance Global Practice at the World Bank Group; Mr. Brian Levy, Professor of the Practice, School of Advanced International Studies (SAIS), Johns Hopkins University; Mr. Jerome Sauvage, Deputy head of UN Office in Washington DC. Mr. Fredrick Temple, currently Adviser at the Partnership for Transparency Fund, moderated the workshop. 
 
The panel presentations and discussion were hugely informative and insightful. I am pleased to share with you my five takeaways that anyone interested in governance and development interactions ought to know.

In praise of folly: How modern development partners are learning the lessons of Erasmus

Bertrand Badré's picture
A student in Afghanistan. © Sofie Tesson/World Bank

What a remarkable and busy six weeks!

There has been a tremendous re-energizing globally to explore and identify ways to finance the proposed Sustainable Development Goals (SDGs). The international recognition that the SDGs need to go even further than the previous Millennium Development Goals has prompted discussion of how to get from billions to trillions of dollars to achieve sustainable and inclusive development.


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