$500 million investment platform targets SDGs
28/01/2020
In 2015, the United Nations set 17 global goals for sustainable development, including zero hunger, no poverty, good health and wellbeing for people, gender equality, and decent work and economic growth.
The platform will use debt and equity to bridge the financing gap between seed and growth stage for hundreds of businesses in emerging and frontier markets.
The financing gap to achieve the SDGs in developing countries is estimated to be US$2.5 trillion per year.
To achieve the SDGs by 2030, more innovative and sustainable financing solutions are required, said the partners, which include United Nations Capital Development Fund, International Trade Centre, International Fund for Agricultural Development (IFAD), Smart Africa, Stop TB Partnership and Bamboo Capital Partners.
Dorothy Tembo, ITC's acting executive director, called the partnership “groundbreaking”.
She added: “The SDG500 platform will immediately target businesses in the agriculture, finance, energy, education, and healthcare sectors in Africa, Asia and Latin America – turbo boosting progress towards the SDGs.
"Importantly, the fund has a gender focus and will invest in businesses that empower and provide jobs for women – including through the participation of ITC’s innovative SheTrades initiative, which aims to connect three million women entrepreneurs to market by 2021.”
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