As a part of the “DEV TALKS” Series
Mario Pezzini, Director of the OECD Development Centre and Special Advisor to the OECD Secretary General on Development,
cordially invites you to a conversation on
From Dalberg Global Development Advisors
Last year saw international consensus on 17 ambitious global goals to end poverty, tackle the consequences of climate change and make the world more inclusive and prosperous. Realising such goals demands investing a staggering USD 5 to 7 trillion each year. It also requires governments, the corporate community and civil society to collectively find smart solutions that challenge traditional approaches to development.
In the anthology 17 Big Bets for a Better World, thought leaders from all sectors and corners of the world present their single best bet on what it will take to realise the global goals before 2030. From the OECD’s Secretary-General and India’s leading ICT entrepreneur, to one of East Africa’s most innovative banks and Michelin chef Dan Barber, this publication offers innovative and unconventional solutions to some of the world’s most pressing challenges. The perspectives presented spark debate and dialogue and question business-as-usual approaches. For those at the forefront of crafting public policies, this exercise is a concrete tool to fuel fresh thinking, new processes and bold action to build the world we seek.
Stig Tackmann, Sam Lampert and Tamara Pironnet, from Dalberg Global Development Advisors, will delve into the exciting findings of this anthology and discuss the implications for policy makers.
To reach the Sustainable Development Goals (SDGs) in 13 years, new solutions and new financial resources are needed.
Throughout history, innovations and creative thinking have managed to leap-frog global development and lift people out of poverty. 17 Big Bets for a Better World is an anthology of 17 radical and game-changing ideas from 17 international thought-leaders on how to overcome some of the world’s most pressing issues relating to the SDGs. These ideas include, inter alia, taxes on fashion products to be used as donations for girls’ education and the development of a unique digital identity for all.
Meeting the SDGs will also require mobilising all possible sources of financing. Innovative financing instruments do not replace, but rather complement, traditional resource flows such as aid, foreign direct investment and remittances. By addressing specific market failures and institutional barriers, innovative financing can mobilise additional resources to eliminate poverty, raise living standards and protect the environment.
Innovative finance is different from financial innovation. Innovative finance encompasses a broad range of financial instruments and assets used for global development. Established financial instruments, such as guarantees and bonds, constitute nearly 65% of the innovative financing. New products trying to gain traction, include financing or development impact bonds. Most resources mobilised uses existing products in new markets or involve new investors. With this in mind, innovative financing instruments mobilised nearly $100 billion and grew at 11% per year rate between 2000 and 20131.
Successful innovative financing instruments address a specific market failure, increase government allocations and create incentives for private companies to invest in projects. Also, instruments that have mobilised significant resources benefit from relatively simple financial structures and a track record that describes the financial and social returns for investors.