Well-structured public finance can align profit and sustainability aspirations

29 Sep 2016 by Li Yong, Director-General, United Nations Industrial Development Organization

To promote inclusive and sustainable growth, international public investment should support small and medium businesses. Photo: Aude Rossignol/UNDP Burundi
The ambitious global commitment to pursue inclusive and sustainable paths of development – outlined in the 2030 Agenda for Sustainable Development – comes at a moment that does not admit any further delay. The economic, environmental and social challenges we face are enormous and must be addressed today, before climate change, demographic pressures, fragile security situations and other unsustainable global trends take their unbearable toll on all of us. At the same time, this agenda unveils a new set of opportunities for investments to yield unprecedented levels of economic and social dividends, provided that the appropriate co-ordination mechanisms and instruments are put in place. This means rethinking the role of official development assistance (ODA) to increase its efficiency and impact as an international public investment tool. It means making it more co-ordinated, catalytic and targeted as an instrument for attracting additional public and private investments for the transformation we all strive to achieve. Public finance will need to focus on initiatives that can drive progress on the SDGs, bringing into play the necessary industries – with their investments and their knowledge … Read more

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