Is it Time for a G20 Development Bank to Resurrect the SDGs?

The Sustainable Development Goals (SDGs) were the first global attempt to set universal development goals for all countries and transform the economic system. Sadly, more than halfway through the timeline, the world is in the middle of a massive conundrum. The COVID-19 pandemic followed by a series of subsequent crises have dealt a deathblow to the SDGs. A massive financing gap is the primary obstacle to the achievement of the global goals by 2030. In their brief, Nilanjan Ghosh, Malancha Chakrabarty, and Swati Prabhu argue that the G20, with its mandate to facilitate international financial stability, along with promoting climate action and sustainable development, is the perfect platform for reviving the SDGs. Further, they also recommend the creation of a G20 development bank to fund long-term sustainable development projects in developing countries. The objective of this roundtable discussion is to dwell on the issue of SDG financing and the idea of a separate development financial institution to take the SDG agenda forward. This roundtable aims to discuss their ideas and ways to reinvigorate the SDGs.

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