Stressing on the scope of greater engagement with private sector for multilateral development banks (MDBs), the G20 Independent Expert Group on Strengthening MDBs has said that private financing worth $740 billion per year will be required to reach overall goals for additional climate and sustainable development goals (SDGs)-related finance, an increase of $500 billion over the 2019 level of sovereign borrowing and private participation in infrastructure.
The report by the expert group also stressed on the need for MDBs to mobilise more private capital.
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