The United Nations Calls The World Needs 500 Billion US Dollars Investment Per Year For Sustainable Development

Secretary General of the Association of Nations (UN) Antonio Guterres (Photo: screenshot of youtube setpres by Mery Handayani/VOI)

JAKARTA - Secretary-General of the United Nations (UN) Antonio Guterres said the world needed an investment of 500 billion US dollars to support future development.

"We address the Sustainable Development Goal Stimulus (TPB) of at least 500 billion US dollars per year to help save TPB," he said at a press conference at JCC, Senayan, Jakarta, Thursday, September 7.

Based on a report from the International Institute for Sustainable Development (IISD), the funds will be allocated for three sectors. First, overcoming the high debt and increasing the risk of debt difficulties.

This includes changing short-term high-interest loans into long-term debt with lower interest rates.

Second, increasing affordable long-term financing for development, especially through public development banks (GDP), multilateral development banks (MDB).

Finally, the investment will also be used to help provide emergency financing to countries in need.

In addition, Antonio said, global financial structure reforms are needed, so that it truly represents the current economic and political realities, and is more responsive to the needs of developing countries.

Antonio said the world also needs to increase liquidity in Special Withdrawal Rights or Special Drawing Rights (SDR) worth 100 billion US dollars through multilateral development banks. Of course, by using the model proposed by the African Development Bank and the Inter-American Development Bank.

"We need to establish an effective debt payment mechanism to support the suspension of payments, longer loan periods, and lower interest rates," he said.