Private Capital Investments, Facilitated By Development Aid, Can Help Achieve SDGs
Wall Street Journal: The Healthy Turn From Aid to Investment
Grete Faremo, executive director of the U.N. Office for Project Services
“…[P]rivate capital, domestic and foreign, is a larger potential source than aid for investing in Africa’s future. Finding ways to put that private capital to good use — by building resilient infrastructure, sound industrial projects, and modern agriculture — is crucial. … [The Third International Financing for Development] conference should lay the groundwork for a new order, in which aid facilitates sensible private investments and is used to reduce the risk of doing business in developing countries. … We at the United Nations are ready to help bring the private sector, aid agencies, and governments together; to help developing countries adopt safeguards against corruption and ensure that ordinary people benefit from economic growth … [as well as] lower obstacles and risks so that private capital can help turn the U.N.’s new Sustainable Development Goals into reality…” (7/13).