ISLAMABAD: Achieving the sustainable development goals (SDGs) will require large amounts of private capital, and Asian Development Bank (ADB) will step up to the plate to promote and incentivise private sector financing for the 2030 Agenda in the Asia Pacific region.
This was stated by different economists of ADB at the series of webinars on ‘SDG Dialogues: Private Investments in the SDGs.’
The ADB’s second SDG Dialogue explored the drivers of private sector investment in the SDGs and opportunities to channel investment to SDG related sectors.
The discussion focused on: how private investors are taking on the SDG financing challenge; opportunities to scale up private sector investing for the SDGs in Asia and the Pacific; and the ADB’s work in promoting and incentivising private sector financing in the SDGs in the region.
The speakers said that even though private sector interest and focus on SDG aligned investment has surged, more needs to be done to ensure it reaches the levels needed to get the region back on track to achieve the 2030 Agenda.
They said the imperative to create new incentives to direct private investment to support the Sustainable Development Goals (SDGs) has never been clearer. They further said The Covid-19 pandemic has threatened progress on the SDGs across all countries, and added to existing financing gaps for the 2030 Agenda, especially in developing countries.
They said that achieving the SDGs requires steering private capital towards investments that can advance progress on the goals. They said that private sector interest and focus on SDG aligned investment has surged, including new financial mechanisms in response to the Covid-19 pandemic. – TLTP