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Private sector needs to chip in to achieve SDGs

10 February 2016


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The 17 Sustainable Development Goals (SDGs) could struggle to come to fruition, if the private sector doesn’t see its role in supporting the initiatives.

“Everybody who can finance it will pay for it – not just governments, but the private sector is expected to have adequate incentives to come in and deliver too,” Dr. Mahmoud Mohieldin, Senior VP for the 2030 Development Agenda, UN Relations & Partnerships at the World Bank, said during a discussion on SDGs at the World Government Summit 2016.

“The IMF and multi-lateral development banks, have already committed $400 billion for first three years of the implementation of the SDGs. Its all about leveraging our money with the private sector, we’re expecting them to be partners, and will develop innovative schemes to get them involved,” he explained.

Although Dr. Mohieldin admitted that the world today didn’t present an exactly “benign environment to encourage anyone to be generous”, he reckoned, that becoming more efficient in spending habits and investing into human resources and infrastructure, could be very healthy “to get everyone out of the crisis”.