In an article published on August 13, 2015 in The Guardian asks how developing countries could tap into their own resources to finance the United Nations sustainable development goals (SDGs). “So what if we tapped into the considerable resources of the developing countries themselves? Often overlooked, these countries’ tax revenues, natural resource revenues, private domestic savings, pension funds, private equity markets, stock markets, and remittances, taken together, are significantly larger than aid flows – and are growing rapidly. If harnessed to finance development, these resources could enormously accelerate the rate at which the SDGs are achieved.”
The article analyzes the situation in sub-Saharan Africa and describes the enormous potential of remittances, currently unbanked private domestic savings and growing pension fund assets.
You may read the article on The Guardian internet site.