Swiss launch development finance

The State Secretariat for Economic Affairs, UBS Optimus Foundation, Credit Suisse Foundation and the Swiss Agency for Development and Cooperation (SDC) have launched the Sustainable Development Goals Impact Finance Initiative. The initiative aims to mobilise CHF 1 bn in private capital to advance measurable impact in developing countries.

The SDG Impact Finance Initiative aims to raise CHF 100m in funding by 2030 from public and philanthropic actors. These funds will be used to unlock up to CHF 1bn in additional private capital towards the SDGs in developing countries.

The initiative will select the best solutions through competitive, international calls for proposals. The first call for proposals will be launched in early 2022 in collaboration with the organisation Convergence.

Thomas Gottstein, CEO Credit Suisse Group, said: “Credit Suisse sees philanthropic capital playing an important role in unlocking the innovation and collaboration needed to overcome the significant funding gap to meet the Sustainable Development Goals, particularly for SDGs and countries that have historically been more challenging to finance. I am delighted that our Foundation could play a pivotal role in supporting this initiative from its inception.”

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