This panel examined the progress made in financing initiatives around the Sustainable Development Goals (SDGs) and explored how the BRICS New Development Bank (NDB) can galvanise financing for the member nations to achieve SDGs.
Informed by impact evaluation studies, the panel suggested that the NDB and multilateral banks should align their strategies and business models to finance SDG-related infrastructure. The NDB should be committed to transforming investment behaviour and encouraging sustainable investments that promote stronger economic recovery over and above providing loans and green bonds.
It was suggested that, going forward, the BRICS countries should adopt a bottom-up grassroots approach and revise their national plans by linking them to the SDGs to mobilise funding support from the NDB.
Furthermore and in accordance with the SDGs, governments should translate their national strategies into concrete policy actions and expenditure plans that are incorporated into the national budget and planning processes.