As the 2030 target to achieve the Sustainable Development Goals draws closer, the need for more effective financing to fill the significant funding gap hindering the realization of these goals becomes more urgent. Vehicles such as GSS+ bonds are valuable in propelling progress and are increasingly adopted in pivotal Asia and the Pacific.
As the climate changes, Africa is a paradox of opportunities and crises, with its immense potential and dire need supporting the business case for adaptation finance. Commercial International Bank’s Brain Trust seeks to show how adaptation finance can reshape history by fortifying the relationship between private finance and food systems.
What does COVID-19 mean for development?
20 April 2021
EIB
From the loss of education to the impact on businesses, jobs and the flow of finance for development, the economic scars of the pandemic will take time to heal. In the light of COVID-19, development finance backing from the European Union is more important than ever.
By Tessa Bending, Colin Bermingham and Emily Sinnott
The world was not doing enough for sustainable development, even before the pandemic. The existing gap in financing for the achievement of the Sustainable Development Goals has been estimated at around $2.5 trillion.[1] Growth in developing and emerging economies was, however, steadily reducing the number of people in extreme poverty. The recession caused by COVID-19 has reversed that process, already pushing some 120 million people back into extreme poverty.[2]