As the world’s economic growth engine, Asia is uniquely placed to provide a blueprint for ending poverty and realising sustainable development. The challenge is not where to find resources to achieve these goals, but rather how to unlock the resources already available.
Private sources of development financing should be central to this effort. Private investments dwarf the $26bn of official development assistance delivered annually to the region’s developing countries. Remittances total $205bn, private savings $6tn and insurance premiums $1tn. Asian pension and sovereign wealth funds alone are valued at over $3.5tn.
Continue reading at: The Guardian