Paying for development – Governments are sitting on a ‘goldmine’
Four years have passed since the launch of the 2030 Agenda and its 17 Sustainable Development Goals. Mobilizing the necessary resources remains central to its success.
Investments in human, social, and physical capital are at the core of sustainable and inclusive growth – and represent an important share of national budgets.
At the World Bank Group we have been at the forefront of the so-called Financing for Development (FfD) agenda to leverage public, private, international, and domestic sources of capital to help reach the global goals. A short primer on our efforts--which builds on the 2015 Development Committee paper Billions to Trillions - Transforming Development Finance--can be found in the brochure entitled Financing for Development at the World Bank Group.
Ultimately, countries own the responsibility for achieving the SDGs: raising more domestic revenue (and doing so more efficiently), addressing spending inefficiencies, and mobilizing private capital (as the world economy is facing potentially slower growth and political friction). These will not be easy challenges.
