As we know, the target finish line for the 17 Sustainable Development Goals (SDGs) is only 10 years away. Efforts toward realizing these SDGs – for severe poverty, education, health, agriculture, economic growth, social equality, climate, and other issues – are more urgent now than ever before, given increasing COVID-related challenges.
Unfortunately, the financing gap for attaining these SDGs is large and persistent – around $2.5 trillion annually – and this will be exacerbated by pandemic fall-out, not least massive capital flight from developing countries. Between January and May 2020, Developing and emerging economies suffered a $100 billion loss in portfolio investment flows.
What does this mean going forward? At the very least, funding needs will persist and likely grow, and new forms of leveraging-in additional capital will be critical. Blended finance and catalytic capital are important keys to unlock this funding puzzle.
COVID-related global imperatives mean that development finance is not business as usual anymore. If we want to create lasting, meaningful change, new approaches are essential. Severe immediate damage and long-term impacts are expected to affect developing countries, due to capital flight and post-COVID fragilities – this includes severe hunger, poverty and increasing inequalities.
The needs are now immense and urgent. Traditional timelines and business as usual no longer acceptable. Even before the pandemic, developing countries were struggling to find resources to implement transition activities. There is a need to focus on stabilizing imperatives – for both short and long term. For most of these countries, additional financing from sources outside their domestic markets will be essential.
Where will this money come from to respond, restore and reset sustainable development?
Does official development assistance have a role? What about philanthropic funds and private investors? What emerging innovative funding instruments are taking shape?
Awareness, dialogue and engagement are key to developing sustainable solutions.
Join us as we unpack these pressing and unprecedented challenges and begin charting important opportunities going forward. Crystalus PathwaysTM is pleased to announce its latest Learning & Knowledge course, “New Blended Finance Imperatives: Building Resilience in a Post-COVID World”. We will inspire and challenge you to think through current global development challenges and guide you through fundamental building blocks so that you can contextualize and make sense of evolving complex concepts in this important space.
Reserve your spot now! Contact us for details.