Int’l financial institutions announce $400bn to achieve SDGs

The international financial institutions have announced a plan to extend more than $400 billion in financing over the next three years to help mobilise the resources needed to achieve the Sustainable Development Goals (SDGs), reports BSS.

The institutions include the African Development Bank, Asian Development Bank, European Bank for Reconstruction and Development, European Investment Bank, Inter-American Development Bank, World Bank Group and the International Monetary Fund.

The announcement was made ahead of the Third International Conference on Financing for Development to be held in Addis Ababa on July 13-16, an IMF statement issued yesterday (Friday) in Washington DC and received here today (Saturday) said.

IMF statement said that the international financial institutions and the development partners also vowed to work more closely with private and public sector partners for facing the challenges in achieving the SDGs.

The statement also said that the SDGs are ambitious and demand equal ambition in using the “billions” of dollars in current flows of official development assistance (ODA) and all available resources to attract, leverage and mobilize “trillions” in investments of all kinds-public and private, national and global.