The Role of Development Banks in Promoting Growth and Sustainable Development in the South
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The Role of Development Banks in Promoting Growth and Sustainable Development in the South
Resumo
As a result of a lack of structural transformation and the creation of good quality jobs and sustainable incomes, Africa missed many Millennium Development Goals, some by a large margin (UNCTAD, 2013; UNCTAD, 2014).
Economic transformation requires long-term investment to support the expansion of productive capacities, as well as infrastructure development that underpins industrial activities and reduces bottlenecks. Rapid, transformative growth will also require, from the developing world, a more autonomous development strategy, in light of the fragile world economic recovery and the uncertainty about developed country demand and capital as drivers of developing country
growth (UNCTAD, 2016).
The financing needs to support the Sustainable Development Goals are formidable. Investment
in infrastructure development alone, which is a key bottleneck to economic transformation and thus sustainable growth, faces financing needs at the global level that amount to $5 trillion–$7 trillion per year (Intergovernmental Committee of Experts on Sustainable Development Financing, 2014). For developing countries alone, figures point to an infrastructure financing shortfall of $1.0 trillion–$1.4 trillion per year (Bhattacharya and Romani, 2013).
Economic transformation requires long-term investment to support the expansion of productive capacities, as well as infrastructure development that underpins industrial activities and reduces bottlenecks. Rapid, transformative growth will also require, from the developing world, a more autonomous development strategy, in light of the fragile world economic recovery and the uncertainty about developed country demand and capital as drivers of developing country
growth (UNCTAD, 2016).
The financing needs to support the Sustainable Development Goals are formidable. Investment
in infrastructure development alone, which is a key bottleneck to economic transformation and thus sustainable growth, faces financing needs at the global level that amount to $5 trillion–$7 trillion per year (Intergovernmental Committee of Experts on Sustainable Development Financing, 2014). For developing countries alone, figures point to an infrastructure financing shortfall of $1.0 trillion–$1.4 trillion per year (Bhattacharya and Romani, 2013).
Ano
2016