When the world adopted the SDGs, policymakers knew that aid alone would never meet the financing needs. They embraced the “billions to trillions” vision, believing that an abundance of commercially viable SDG-related investments was ready and waiting for trillions in profitable private investment—if only development finance institutions (DFIs) and others could clear away the obstacles that stand between the investments and private investors. Reality looks different. To fill the gaps in the financial architecture, Nancy Lee and Dan Preston propose the Stretch Fund.
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