GFC on Development Finance

From Funding to Financing

The current gap in global development financing is significant, with an annual estimated investment requirement of $2.5 trillion. In particular, traditional bilateral and multilateral government-to-government sources of development finance alone cannot meet the financing needs of the Sustainable Development Goals (SDGs).

To overcome the SDG funding gap, the Council recommends that action should be taken at a country-level, where governments should pivot from a “funding” approach, relying primarily on ODA and public funds when investing in sustainable development, to a “financing” approach. This entails a holistic consideration of all the sources of capital that could be mobilized for the SDGs – a of mix public, private, domestic and international sources strategically deployed to build a high-impact pipeline of projects that advance the SDGs at a national level.

Development Finance Transformation Map

Transformation Maps are the World Economic Forum’s dynamic knowledge tool. They help users to explore and make sense of the complex and interlinked forces that are transforming economies, industries and global issues.

The maps harness the Forum network’s collective intelligence as well as the knowledge and insights generated through our activities, communities and events. And because the Transformation Maps are interlinked, they provide a single place for users to understand each topic from multiple perspectives. Each of the maps has a feed with the latest research and analysis drawn from leading research institutions and media outlets around the world.

The Council has worked to publish a new Development Finance Transformation Map before the World Economic Forum Annual Meeting 2020, identifying the key forces and stakeholders active to mobilize capital for the Sustainable Development Goals (SDGs).

Members 2019/2020 term

• Charlotte Petri Gornitzka (Co-Chair) Deputy Executive Director, UNICEF

• Gavin E.R. Wilson (Co-Chair) Commissioner, The Business and Sustainable Development Commission

• Astrid Manroth Director Sustainable Finance, European Climate Foundation

• Caroline Anstey Chief Executive Officer, Pact

• Cherie Nursalim Vice-Chairman, Giti Group

• Christian Deseglise Global Co-Sponsor, Sustainable Finance; Global Head, Central Banks, HSBC

• Donald Kanak Chairman, Prudential Insurance Growth Markets

• Elliott Harris Assistant Secretary-General for Economic Development; Chief Economist, UN Department of Economic and Social Affairs (DESA)

• Fatima Al Naqbi Chief Innovation Officer, Ministry of Finance of the United Arab Emirates

• Joachim von Amsberg Vice-President, Policy and Strategy, Asian Infrastructure Investment Bank (AIIB)

• Karin Finkelston Vice-President, Partnerships, Communications and Outreach, International Finance Corporation (IFC)

• Kimberly Louis First Secretary at the Permanent Mission of Saint Lucia to the UN, Government of Saint Lucia

• Li Daokui Director General and Chief Economist, New Development Bank

• Marc-André Blanchard Ambassador and Permanent Representative of Canada to the UN, Government of Canada

• Martin Bille Hermann Ambassador and Permanent Representative of Denmark to the UN, Government of Denmark

• Mohan Vivekanandan Group Executive Origination & Client Coverage, Development Bank of Southern Africa

• Nancy Lee Senior Policy Fellow, Center for Global Development

• Paul Lamontagne Managing Director, FinDev Canada

• Ramesh Subramaniam Director-General, South-East Asia Department, Asian Development Bank

• Runa Alam Chief Executive Officer and Co-Founder, Development Partners International

• Susanna Moorehead Chair Development Assistance Committee (DAC), Organisation for Economic Co-operation and Development (OECD)

• Thierry Déau Chief Executive Officer, Meridiam

• Wendy Woods Managing Director and Senior Partner, Global Leader of BCG's Social Impact Practice, Boston Consulting Group

Council Fellow: Austin Strange, PhD Candidate, Harvard University, Department of Government