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Investment not coming to countries that need it — Guterres

"We need action now to get quality finance flowing to put children in classrooms and food on tables and to prevent climate catastrophe," he said

ABU DHABI, October 16. /TASS/. Investment in sustainable development goals (SDG) is not reaching the countries who need it the most, UN Secretary-General Antonio Guterres said.

"The SDG financing gap is now around $4 trillion a year," Deputy Secretary-General of the United Nations Conference on Trade and Development (UNCTAD) Pedro Moreno said reading Guterres’ speech at the World Investment Forum 2023 opening in Abu Dhabi.

"There is no lack of funds, sustainable financing global capital markets is booming. But the money is not getting to the countries where it is needed most," Guterres noted.

"We need action now to get quality finance flowing to put children in classrooms and food on tables and to prevent climate catastrophe," he said. "The public and private sectors are both vital and it is in the private sector interest to play its part because long term profitability depends on sustainability," the UN Secretary-General added.

"We need action from both public and private sectors to put my proposed SDG stimulus into effect and deliver $500 billion a year in affordable long-term financing to developing countries," Guterres urged.

The 7th World Investment Forum is being held in Abu Dhabi from October 16 to 20 under UNCTAD auspices.

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United Nations Antonio Guterres

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