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The IDFC represents a unique model for the international development system, defined by a diverse set of institutions with a strong country-led focus and private sector orientation.
IDFC institutions collectively bring considerable financial and strategic resources to meet SDG financing needs and appear to be well matched to respond to key SDG requirements, including the call for nationally led development strategies and the need for substantial private sector and non-sovereign investment, particularly in infrastructure.
Through a greater commitment to SDG-oriented activities, IDFC members could demonstrate the value of organizing around national, bilateral, and multilateral development institutions to address the leading development challenges in the years ahead.
There is a little-noticed but important difference between the World Bank’s original goal for poverty reduction and the subsequent UN Sustainable Development Goal (SDG). While both target the “$1.90 a day” poverty rate, the Bank’s goal was a 3% rate by 2030, while the SDG is to “eradicate” poverty by 2030.