HE Dr Bandar Hajjar has set out his new vision for how the world can meet the 2030 targets with the release of a new book, which explains his plan for a new business model to achieve the Sustainable Development Goals in full.
The President estimates that the finance gap between available government budgets and funds needed for development is over US$ 200 trillion. If Multilateral Development Banks (MDBs) can mobilise only 1% of global market capital, trillions of idle and risk-averse dollars can be made to work for development.
Whilst there has been good momentum since 2015 with many sectors and leaders embracing them, evidence shows that at the current rate of progress, the Goals will not be achieved in time, and in many areas there is a risk of reversing the progress made to date.
“In the real world, in developing countries, people are in desperate need of solutions. I encourage us all to think carefully about how we can harness the power of innovation in this era of unprecedented progress and change, for the benefit of the world’s poorest.”
“We must look beyond all the talking and warm words, and keep these people front of mind as we strive to find better solutions to development and work towards the SDGs. Never has the need for cooperation and partnership been of such paramount importance as it is today.”
In his book, Dr. Hajjar will outline that the SDGs represent a new era, raising the level of development finance required from the order of billions to that of trillions and that the sheer magnitude of these challenges is beyond the capacity of any individual institution.
The IsDB is responding to this new era by putting forward a new business model that focuses resources on enhancing countries’ competitiveness in strategic sectors in which they have, and can build, a global comparative advantage.
The book is available to view online at the following links: