If the world is to reach the 2030 Sustainable Development Goals (SDGs) then “billions” of dollars need to be unlocked from the private sector, as well as public coffers.
That’s the message from the World Bank Group’s Vice President on Development and Finance, Axel van Trotsenburg.
He was speaking ahead of a meeting organized in conjunction with the President of the General Assembly, on the future of financing for sustainable development.
Last month, a coalition of more than 60 governments agreed to ratchet up the fight against extreme poverty, one of the key SDGs, by promising US$75 billion for the International Development Association, the World Bank’s fund for the poorest countries.
Matthew Wells asked Mr Trotsenburg what the bank was doing to secure development funds, given the combined effects of a refugee crisis, rising inequality across the world, and destructive climate change.