International Development with Blended Finance for Major Social and Economic Sectors
|Author||Lim So-young, Jung Sun-in, Na Hye-seon, Im So-jin||Date||2017.12.08||Page|
Via the United Nations (UN), the international community recently adopted the Sustainable Development Goals (SDGs) in 2015, a set of measures more comprehensive in scope than the Millennium Development Goals (MDGs) adopted much earlier. Ever since, governments and nongovernmental actors worldwide have been looking for ways to finance their realization. The UN estimates that 3.9 trillion USD is needed to fully realize the SDGs, with the disparity between the funds needed and the amount provided well over 2.5 trillion USD a year worldwide. In response to the rapidly growing demand for development in this era of SGD, policymakers and researchers have been exploring viable sources of development finance. Blended finance is recognized by far as the most effective and powerful, drawing as it does upon resources available in the private sector.