Where is the Money? Financing Sustainable Development
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Transcript of Where is the Money? Financing Sustainable Development
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8/20/2019 Where is the Money? Financing Sustainable Development
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WHERE IS THEMONEY?
Financing SustainableDevelopment
uradha Rajivan
ian Development Bank
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An “Inequality Crisis” is receivinggl!al attentin"
• #ault lines from systemic disparities - by design
• WEF !ap bet"een the richest and the rest gotaired# $%& consumption of the top '( ')*times that of the poorest
• +ne,uality is cumulative and cross-generational
economic "ealth. political po"er. social statusoverlap
• Elites kno" that e/treme ine,uality anddemocracy may not co-e/ist for long
• 0he 1D!s are one attempt to redress e/tremedisparities to change ho" money is applied
for more durable bene2ts
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Cohesion
Capital Capacity
Collaboratio
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Cohesion
CapitalCapacity
Collaboratin
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3+!3 A4B+0+%51. FRA!4E50ED F+5+n this region of savers it is less a cha
funds. more one of 2nanceCapital
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B60 03+1 W%570 3A88E5 B93ERE ARE $3A::E5!E1 0
%;ER$%4E
P U B L I C
R E S P O
S I B I L
I ! "
Bul# o$ the $un%s are in priv
han%s& %isperse%'oney is investe% else(he
richer countries& not in locamost in nee%
ot %irectly programmableOD)SD investments are ris#ier&
term& less pro+table
Long term $un%s yet to be u ,
P R I .) !
E
R E S P O
S E
'DBRole
Capital
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8/20/2019 Where is the Money? Financing Sustainable Development
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Cohesion
Capital
Capacity
Collaboratin
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8/20/2019 Where is the Money? Financing Sustainable Development
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8umping money alone is not su
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8/20/2019 Where is the Money? Financing Sustainable Development
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0o make best use of all sources of fCapacity $A8A$+09 4A00ER1 0% A::
• 5ational governments. public institutions , 'anage contra
ris#s an% re(ar%s o$ ne( #in%s o$ partnerships
• 1ub national. parastatals. municipalities , Prepare an% 4ual+nancing options 2%ebt mar#ets& muni bon%s3
• $orporates , Buil% ne( s#ills to re*orient pro+t mo%els aroun%
aims
• +nvestment funds , Shape a(areness an% e5pertise to incorporpurpose in investments
• $ivil society. think tanks , In$orme% %ialogue& help incentiviseto(ar%s %evelopment
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Cohesion
Capital Capacity
Collaboration
A 1t ti 8 i t f + t t d R
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A 1tarting 8oint for an +ntegrated Re1D!s provide a net"ork of targets "ith in
opportunities forE$%5%4+$ 8R%18ER+09 = 1%$+A: E>
E5;+R%54E50A: RE18%51+B+:+0
Source6 U DES)& Towards integration at last? The sustainablea network of targets, 7or#ing Paper o8 9:9
$ohesion
;ELP US !O BE O !;E S)'EP)1E& ) S;)REDFR)'E7OR< !O6
• Respond better tocountry-customi?edplans
• +dentify ne" investmentopportunities
• 1pot projects to bephased out
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Cohesion
Capital Capacity
Collaborati
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Collaboration5% %5E $A5 D% +0 A:%5E
E/plore $ollaborations for 1ystemic Alignment "iDevelopment
Formali?ed and non-formalarrangements
1hared perspectives across in@uencersand decision makers!lobal. bilateral. sub-regional
collaborations
• 0a/ havens. transfer pricing
•
$ross border mobility
• $ommon markets
• Environmental responsibilities
• Data and monitoring$%::AB%RA0+%5 +1 E9 F%R +116E1 03A0 $A5 %
8AR0+A::9 ADDRE11ED 5A0+%5A::9
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Collaboration8AR05ER13+81 F%R 1610A+5AB:E DE;E
8ublic. 8rivate
86B:+$. 8R+;A0E• 888 4odels - Un%erstan% (hat has (or#e% an% (hat has not=
shi$ts role $rom sole $un%er an% operator to $ocus on $acilitation&
accountability• 1teering 8rivate Resources - 'anagement o$ natural resourc
+nance• 5ational Development Banks , Sector %evelopment• 8rivate 0ransactions 8roviding 8ublic Bene2ts - Carbon P
Financial !ransaction !a5
B61+5E11E1. 03+5 0A51. $+;+: 1%$+E09 86B:+$ A5D• Develop benchmar#s>%ashboar%& principles an% in%icators & $or
$or sustainable %evelopment investments 2currently only OD) i
46:0+:A0ERA:1. %03ER 8AR05ER1• +mprove support for results in contrast "ith bigger inves
• 1ector development. capacity for projects vis-C-vis di
)sia has the $un%s
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Cohesion
Capital
Capacity
CollaboPartnerships atall levels *connectperspectives *
public an%rivate
Interlin# S$or amonitore%%urableresponse
)sia has the $un%s&but %isperse%&investe% else(here
LeveragePublicresponsibility
Private Response
Pumping notenough
'a#e%estinations o$+nance attractivetoo
THE $ Cs TO %RIN& IN MONEY TO THETHREE 'I((ARS O# S)STAINA%(E
*E+E(O'MENT
• Economic Prosperity• Environmental Responsibility• Social E4uity
h ld
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1hould "e• $onsume more or invest more
• 8ay fair "ages before high dividends
• 1hare ta/ burden in a progressive "ay andclose loopholes
• >uestion aggregate !D8 as the mainmeasure of human progress
• $hannel longterm savings into longterminvestments
h l
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+n the longrun "e mayall be dead
But not all atthe same
time
+t is up to us
to make