By Nancy Lee, Senior Policy Fellow, Centre for Global Development, and moderator during the PF4SD Conference
In 2015, the world enthusiastically signed on to the challenge of transforming billions to trillions of dollars of private finance for the Sustainable Development Goals (SDGs). The idea was to use public and private development aid to unlock much more commercial private finance for sustainable growth and poverty reduction in developing countries. Four years later, the hoped-for trillions are nowhere in sight. In fact, we have reached the stage where we need to decide whether to change the goals we set in 2015 or take a hard, critical look at the institutions we rely on to propel mobilisation of private finance for sustainable development.