In an article written by Bertrand Badre, Managing Director and CFO of the World Bank Group, he discusses ideas on how to fund the U.N.’s SDG’s. The World Bank Group is one of the world’s largest sources of funding and knowledge for developing countries. They are not a bank in the ordinary sense but a unique partnership to reduce poverty and support development. It is like a cooperative, made up of 189 member countries.
They have planed to extend more than $400 billion in financing over the next three years. They have 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 SDG’s. Additional steps to leverage more resources include the development of new approaches and tools to help developing countries play a stronger role in harnessing domestic resources.
Infrastructure plays a critical role in driving growth, competitiveness, job creation, poverty alleviation and ultimately in sustainability. This applies to both in decisions that limit emissions and that address local environmental concerns. Conversely, inadequate infrastructure, particularly in developing countries, is a constraint on economic growth and a persistent challenge for governments.
The world is facing an enormous infrastructure challenge over the next two decades. It will take partnerships at every level, with both the public and private sectors and with civil society to provide both the money and the expertise to tackle the sustainable infrastructure gap over the coming decades.
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