To achieve the Sustainable Development Goals (SDGs) by 2030, developing countries will need approximately $4 trillion per year. This is nearly double the estimated financing gap made in 2015.
Preliminary calculations indicate that $1.8 trillion is needed for infrastructure development, of which $1.3 trillion is intended for road transport. This underscores the importance of coordinated efforts in the investment sphere.
“Developing countries are entering a new stage of economic cooperation. While they previously relied mainly on connections with developed countries in trade, investment, and financing, the need to form strong 'horizontal ties' among the developing countries themselves is now coming to the forefront,” the authors of the report note.
The EDB emphasizes that multilateral development banks play a key role in ensuring coordination among states, which allows for the effective pooling of financial resources, knowledge, and expertise to address common challenges.
