Private Sector Funding Necessary To Bolster Efforts To Reach Sustainable Development Goals, OECD Report Says
Public Finance International: Public sector cannot go it alone on aid financing, says OECD
“The involvement of the private sector is urgently needed to fill the substantial gap left by public money in funding the Sustainable Development Goals, according to the OECD [in its annual Development Cooperation Report]. While public funding sources delivered a record $132bn in 2015, estimates for achieving the ambitious SDGs by 2030 range as high as $4.3tn per year. As well as a new source of funds, the OECD highlighted that the private sector can bring efficiencies, innovation, jobs, and infrastructure with their investments. Although private sector support is sorely needed, the OECD said the public sector will have to approach its attempts to bring the private sector on board carefully to ensure success…” (Rumney, 7/18).