Mr. Ismail Ersahin, Executive Director WAIPA & Ms Agi Veres, Director, Representation Office Geneva, UNDP at MOU signing ceremony at World Investment Conference. Photo Credit: WAIPA
SDG Impact, part of UNDP Sustainable Finance Hub and a flagship initiative working to accelerate private sector contributions towards the achievement of the Sustainable Development Goals (SDGs) by 2030 and The World Association of Investment Promotion Agencies (WAIPA), have entered into a partnership to leverage each other’s strengths and common goals to spearhead private capital towards the achievement of the SDGs.
Under the partnership, both organizations will collaborate in areas of mutual interest such as providing training events for investment promotion agencies (IPAs) and promoting the uses, including linking, of each other’s digital platforms, UNDP’s SDG Investor Platform and WAIPA’s Members Portal. The SDG Investor Platform houses country-level SDG Investor Maps, a market intelligence tool that highlights SDG-aligned investment opportunity areas (IOAs) where national development needs, government policy and market opportunity intersect. The WAIPA Members Portal is a community portal for WAIPA member IPAs, to connect, network, as well as to share knowledge and best practices, and to stay up to date with what is happening in the world of Foreign Direct Investment (FDI).
As the premier organization that supports, gathers and connects worldwide IPAs, to exchange their experiences and expertise, WAIPA will work with SDG Impact to host investor and investee networking events to help realize the potential of the IOAs, as identified by the SDG Investor Maps. To date, there are 23 SDG Investor Maps and over 400 IOAs that span the developing world from Indonesia, Colombia and Ghana.
Marcos Neto, Director of UNDP Sustainable Finance Hub commented, “We are proud to partner with The World Association of Investment Promotion Agencies, whom we have always held in high regard. There is currently an SDG financing gap of US$3.7 trillion annually according to the OECD. Investment Promotion Agencies can play a fundamental role in closing that gap. Our SDG Investor Maps have done much of the groundwork in identifying where investors can make the most difference to people and planet and we will work hard with WAIPA to accelerate private capital towards the SDGs.”
Deepak Bagla, President of WAIPA mentioned, “WAIPA strongly believes in the philosophy of collaborating with our partners in creating a sustainable and equitable society. We are delighted to embark on this partnership with the SDG Impact, a flagship initiative of UNDP. Given the recent economic disruptions that continue to shape the investment regime globally, there is a paramount need for IPAs to rethink and realign their investment promotion strategies. With this partnership with SDG Impact, WAIPA is looking forward to playing a decisive role in enabling our members in attracting and facilitating sustainable investments and thereby creating a better future for all.”