Recently an expert panel comprised of academic and business leaders from around the world gathered to discuss ideas of how to finance the U.N.’s Sustainable Development Goals. While an exact figure on the financing needed to achieve the SDG’s has been elusive, it is widely suggested to require a movement from “billions to trillions”.
Given the existing challenges in this area, the question is, where is the money coming to come from? While the role of the private sector has been controversial, many argue that attaining the necessary financial muscle can’t be done without diversifying the funding framework.
The following is a list of the 7 main ideas that the panel agreed upon:
- Get everyone (every country) on board.
- Focus on domestic resources.
- Recognize the importance of the private sector.
- Make sure everyone is accountable.
- Consider large scale public financing in the form of grants.
- Find the appropriate source of finance for each goal.
- Remember that one size (financial strategy) does not fit all.
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