Antonella Baldino, the Chief International Finance Officer of the Cassa Depositi e Prestiti (CDP) public investment bank, said that "long-term sustainable development is truly the decisive challenge of our generation" on Wednesday, the second and final day of the Finance in Common Summit 2021 in Rome.
Baldino said that the SDGs (Sustainable Development Goals) set by the UN in 2015 "outline a crystal-clear vision of the world that we want to bring about by 2030 and provide us with a roadmap of the path to follow".
She highlighted at the CDP-hosted event that, while some progress has been made, the volume of funding to achieve these goals is still "not up to the pace and speed required".
"There are two main implications for the work we do in order to close the investment gap: seek new methods of funding that include the private sector more and unite to construct complementary strategies with a concrete network that connects national and multinational financial institutions, companies and donors," she said.
The CDP representative presented some figures regarding public development banks.
There are over 500 of them with offices in over 150 countries, they hold combined assets of "over 18.7 trillion dollars" and they account for around 10% of annual global investments, she said.
"This year's summit is a turning point for our path, a moment in which the Finance in Common coalition and its stakeholders can truly contribute to the Agenda 2030 Goals with creative, innovative financial solutions," Baldino continued.
"It is necessary to focus on results to maximise the yield of public resources while harnessing private ones.
"It is also necessary to put sustainability at the centre so that the impact of the investments can last, reducing inequality and stimulating inclusive growth".
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