OREANDA-NEWS. EIB President Werner Hoyer told members of the the UN General Assembly that that to achieve the newly approved Sustainable Development Goals (SDGs) and take the necessary leap in financing from billions to trillions, we must shape a development policy that leverages private investment, strengthens the fabric of economies and societies alike, and brings prosperity everywhere.

“We at the EIB know that we now need to do more of what we do best: use our own financing to attract the financial resources and risk-sharing capacity of other partners”, he told the General Assembly’s Interactive Dialogue session on “Delivering on Revitalized Global Partnership” on Saturday. The session was co-chaired by the President of Senegal, Macky Sall, and by Turkish Prime Minister Ahmet Davuto?lu.

President Hoyer said that the EIB supports the SDGs’ approach to seeing climate action and development as inextricably linked. “Climate change impacts poorer countries most, and climate action investment is an urgent dimension of development policy.”

Over the past 5 years the EIB by itself has provided almost USD 100 billion for projects with a direct positive impact on climate change mitigation or adaptation.

President Hoyer stressed that partnership is the key to the SDGs’ success. “IFIs are a critical piece of the jigsaw. Another crucial piece are efforts by Governments and regulators to strengthen the enabling environment to support sustainable investment, mitigate risk and help build organisation capacity as necessary.” Talking about the current refugee crises, President Hoyer said they are another reminder of the interconnectedness of development issues, not only with geopolitics, but also with growth and investment policies in every country. “When people can look forward to a dignified and peaceful life in their own countries and are protected from conflicts and natural disasters, they have every incentive to build their future where they really feel at home.”

President Hoyer was accompanied by Vice President Jonathan Taylor, who briefed General Assembly participants about the EIB’s Climate Action strategy. The President and Vice President also attended an informal meeting of EU Development Ministers in the margin of the General Assembly, which addressed Europe’s response to the refugee emergency.

President Hoyer also met with Akinwumi Adesina, President of the African Development Bank. The two Presidents used the opportunity of their first meeting to discuss ongoing cooperation and views on how best IFIs can contribute to the achievement of SDGs.