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IFC VP Ethiopis Tafara highlights the SBN Report in an Op Ed published by Project Syndicate: Improving the Sustainability of Development Finance

Mar 7, 2018 ETHIOPIS TAFARA

Trillions of dollars will be needed to fund the world’s human development goals, and domestic banking sectors in rich and poor countries will be part of the solution. But before emerging economies can play an active role in financing social and green projects, their banking sectors need new strategies for evaluating risk.

WASHINGTON, DC – To achieve the United Nations Sustainable Development Goals by 2030, trillions of dollars in state spending, investment, and aid will be needed annually. Although estimates vary widely, one UN report from 2014 suggests that total investment of as much as $7 trillion will be required for infrastructure improvements alone. But whatever the final tally, these sums are far beyond the means of governments, and leaders working to implement the 17 SDGs will expect their domestic banking sectors to provide much of the funding.