G7 Commitment on Innovative Finance for Development HIGHLIGHTS Blended Finance

G7 "Commitment on Innovative Finance", released in June 2018, emphasised the need to mobilise private capital, the importance of the blended finance principles and encourages innovative partnerships:

“We, the Leaders of the G7, acknowledge the importance of public finance, including official development assistance and domestic resource mobilisation, for sustainable development. We also recognise that available public capital alone is insufficient to support the economic growth and sustainable development necessary to lift all populations out of poverty, and to work towards the aspirations outlined in the Sustainable Development Goals of the 2030 Agenda. The development landscape has changed significantly in the last few years and the G7 can now seize new opportunities for global action. New sources of domestic and international private financing that complement public sector resources and innovative solutions for sustainable development and inclusive economic growth are emerging, together with new tools, technologies and approaches to partnership as outlined in the Addis Ababa Action Agenda.”

Read the full statement here: Charlevoic Commitment on Innovative Financing for Development