Putting ‘stupid money’ to good causes

Over-exuberance of capital should be directed towards the world’s least-developed countries, writes the UNCDF’s global programme manager Jaffer Machano


Jaffer Machano, global programme manager, municipal investment finance, UN Capital Development Fund (UNCDF)

In the era of superabundant capital, deploying a tiny
percentage towards bankable investments in the world’s
least developed countries should be a no-brainer.

If we are to have any chance at achieving the United Nations’ Sustainable Development Goals (SDGs) by 2030, there is a profound need to fund commercial-worthy development opportunities.

At the same time, those in the development finance space who are eager to make such deals a reality – including myself and my colleagues at the UN Capital Development Fund (UNCDF) – are being asked to work with a global social development assistance pool of just under $153bn (£116bn) – the 2019 contributions from the OECD’s Development Assistance Committee. To
understand why this figure is so challenging and troubling, let’s take a look at some other transactions.

To read the full article from the UNCDF’s Jaffer Machano view ESG Clarity’s digital magazine for November 2020 by clicking here.

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