SPEAKER: Financing for development-- from billions to trillions to action.
JIM YONG KIM: As we know, 2015 is a landmark year.
And with Millennium Development Goals about to expire,
the decisions that we make this year will
impact the lives of billions of people for decades to come.
SPEAKER: The United Nations is establishing a new set
of 17 sustainable development goals.
The goals and the World Bank Group's strategy
go hand-in-hand, a strategy to eliminate extreme poverty
and boost shared prosperity by 2030.
But current levels of assistance are not enough to achieve these goals.
We need to unlock resources and connect the billions
of dollars in official development assistance
to trillions in investment of all kinds, whether public or private,
national or global.
BAN KI-MOON: The year 2015 is a time for global action.
Success depends, in large measure, on financing.
Without financing support this agreement,
our commitment will just be words on paper.
In a world in which both the global population and resource
constraints are growing, development finances these are [INAUDIBLE].
SPEAKER: A paradigm shift is needed to reboot development finance.
How can the global development community best support our goals?
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BERTRAND BADRE: What did we discuss in the year 2000?
Most of the conversation was focused on the role of public money.
This is still extremely important.
That's what, in our discussion, we call the billions.
The billions of ODA-- of development assistance-- are critical.
This is the most precious resources.
But it's precious because it's cost.
So we have to make the best usage of it.
So how do we use this $175 billion dollar of public transfer
to get to the trillions, which are necessary to achieve the 17 goals put
together by the assistant for development?
That is a critical question.
SPEAKER: Innovative approaches are being developed
to help countries harness national resources more effectively
and engage better with private-sector partners.
Each country must determine its own development priorities.
The World Bank Group and its partner Multilateral Development Banks--
or MDBs-- the International Monetary Fund, and other stakeholders,
are working together in an unprecedented way
to develop new ideas to leverage and channel finances
for the post-2015 development agenda.
This massive, open, online course will help citizens around the world
familiarize themselves with the new development agenda.
The course will focus on the main sources of development finance
and the need for innovative financing solutions
to link public and private resources to achieve the global development agenda.
$3 trillion a year is projected to be needed, for the developing world alone,
to meet infrastructure needs in the coming years.
RACHEL KYTE: There is no more business-as-usual
in the development world.
That means that all ODA has to ensure that it is actually
building resilience, so that development activities are building resilience.
And there is no such thing as climate action
outside of the context of nationally determined development objectives.
SPEAKER: Join us, as we explore how the world can
move from billions to trillions to action,
to support the new global development agenda.
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