It’s basic mathematics: you can’t solve a trillion-dollar problem with a million dollars. Yet, as we countdown to the 2030 deadline for achieving the UN’s Sustainable Development Goals (SDGs), that is what small-island developing states (SIDS), particularly those with low- and middle-income economy status, are being asked to do.
The UN Global Compact Action Platform on Financial Innovation for the SDGs estimates that between $3tn and $5tn of investment is required annually for developing countries to meet these goals. This presents a monumental challenge for us at the Caribbean Development Bank (CDB), where our mandate is to drive sustainable development for our borrowing member countries (BMCs), most of which are classified as SIDS.
