Sustainable economic and social development are central to peace, and to the prosperity of current and future generations. The landmark UN agreements on the 2030 Agenda and its Sustainable Development Goals, and the Paris Climate Agreement provide us with aspirational frameworks to work towards these goals, but we still have a long way to go to deliver on the promise of leaving no one behind.
What we will be focusing on today is precisely how we can design the policies which will lead to inclusion and ensure that everyone – families, farmers and businesses – reaps the benefits of Africa’s integration.
Quality infrastructure underpins virtually every policy area. It forms the links that bind our interconnected economies and societies together, enabling goods, services, energy, data, communications and people to move easily. Connecting Africa through world-class infrastructure is critical for its growth, its development, its intraregional integration and its integration into the world.
2018 IMF and World Bank Annual Meetings - Written Statement to the IMFC
I would like to start by congratulating again the Argentinian presidency on its Roadmap for Developing Infrastructure as an Asset Class. The roadmap will help us meet the needs of infrastructure investment for sustainable growth and help build connectivity, which will be key in achieving higher productivity, gains in service efficiency, growth in trade and realising greater spillovers from investments.
We are brought together today by a fundamental recognition: all countries are in a process of continuous development; all are working to address structural challenges and many are struggling to achieve the necessary development outcomes. To deliver on the 2030 Agenda for Sustainable Development we need to acknowledge and comprehend this reality.
"Toute crise prépare la suivante." These words by Michel Camdessus are a warning, but should also be a stimulus for policy, an invitation to be alert, to be in constant reflection, in constant attention, to understand what happened, what is happening and what can happen.
Achieving the Sustainable Development Goals (SDGs) will require a significant scaling up of resources. In developing countries, funding in SDG-critical sectors has an estimated shortfall of up to USD 2.5 trillion per year. At the core of financing the 2030 Agenda for Sustainable Development is a dual challenge: mobilizing unprecedented volumes of resources and ensuring no-one is left behind.
Where better to discuss this challenge than Japan, which made this a priority under its G7 Presidency, with the Ise-Shima Principles for Promoting Quality Infrastructure Investment.
I am delighted to be with you today to present our analysis of global aid trends in 2017. Official development assistance – or ODA – is, and will remain, a crucial pillar of development finance.