EVALUATION OF THE INVESTMENT GAP IN SUSTAINABLE DEVELOPMENT GOALS FINANCING
Abstract
The article presents a comparative analysis of approaches to the assessment of investment gap in the financing of Sustainable Development Goals within the public investment policy in general and infrastructure goals in particular. Investment gap is the amount of investment resources required to finance efforts to achieve a particular investment goal (sustainable development goals). It can be calculated both for the individual years remaining until the achievement of the sustainable development goals by 2030 and for the total amount of required investments. The key approaches of such international organizations as UNCTAD, OECD, Business and Sustainable Development Commission, CERES, McKinsey & Company, IMF, World Bank to the assessment of investment gap in various sectors are analyzed. The leading sectors are energy, water and agriculture, and healthcare. Dissonances in investment trends have been identified, particularly in those sectors where there is a growing need for investment (upward trend), while ensuring a gap in investment from private sources has a downward trend. It is determined that this indicates a lack of private investment in these sectors and signals the need to intensify public investment policy to meet investment needs in these sectors. It is proved that the analysis of the investment gap is an important step in achieving the infrastructure sustainable development goals, which are considered to be the drivers of economic growth of each country (regardless of income level). The appeal to the quintessence of "billions to trillions" allows us to talk not only about the scale of the necessary investment resources, but also about the role of public investment policies around the world. This role is manifested in the implementation of minimal investment in the field of Sustainable Development Goals, especially infrastructure, cooperation with private capital to multiply them to the extent necessary to meet investment needs. For public institutions, such investment creates a basis for the implementation of strategic infrastructure projects and ensuring the intensification of economic development; for private business structures – additional business opportunities. It is established that the assessment of the investment gap in the financing of the Sustainable Development Goals is a rather difficult task and requires improvement of the system of its monitoring and calculation.
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