The UK’s development finance institution, Investment Partnerships, plans to mobilise $40 billion by the end of 2027 for global infrastructure and economic development, Prime Minister Rishi Sunak said at the G7 Summit in Japan.
While at the G7 Summit in Japan, Sunak redoubled the UK’s commitment to mobilising billions in public and private finance to help get the Sustainable Development Goals “back on track,” according to a press release from the prime minister’s office.
The UN Sustainable Development Goals are a collection of seventeen interlinked objectives designed to serve as a “shared blueprint for peace and prosperity for people and the planet, now and into the future,” adopted by UN states in 2015.
“The UK is committed to ensuring the Partnership for Global Infrastructure and Investment delivers the financing the world needs to lift communities out of poverty,” said Sunak.
The UK’s development finance institution, British International Investment, announced a £12 million investment in the SUSI Asia Energy Transition Fund on Saturday, supporting renewable energy, energy storage and microgrid projects across the continent.
“We know the transformative power of reliable, responsible private investment. It’s the spark that is helping us to build ports in Senegal and Somaliland, hydropower projects in Rwanda and offshore wind in India,” said Sunak.
(Sofia Stuart Leeson | EURACTIV.com)
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