To achieve the Sustainable Development Goals (SDGs) by 2030, developing countries will require about $4 trillion per year — nearly double the financing gap recorded in 2015.
Additionally, it is estimated that $1.8 trillion is needed for infrastructure development, of which $1.3 trillion will go towards road transport, highlighting the importance of coordinated investment initiatives.
“Developing countries are entering a new era of economic cooperation. While the focus was previously on interaction with developed nations regarding trade, investment, and financing, there is now an increasing recognition of the need to create sustainable 'horizontal ties' among the developing countries themselves,” emphasize the authors of the study.
The EDB believes that multilateral development banks play a crucial role in coordinating efforts among states, allowing for the effective pooling of financial resources, knowledge, and expertise to address common challenges.
