The beginning of the next “decade of
action” (2020–2030) to push for the achievement of the Sustainable Development
Goals (SDGs) has been marked by the unprecedented COVID-19 pandemic and its
devastating impact to the global economy. The effect of the crisis on SDG
financing and investment can be substantial, as public and private investment
needs are likely to become more important while investment flows to developing
countries have decreased, public budgets are under strain, and an economic
recovery may take years. At the same time, the pandemic has highlighted that
investing in the SDGs, including in resilient health and agriculture value
chains, is now more relevant than ever. While investment promotion agencies
(IPAs) naturally play a central role in this endeavor, Ministries of Foreign
Affairs and their network of diplomatic services have a real opportunity to
support the promotion and facilitation of SDG-relevant investments fundamental
for post-COVID-19 recovery. Mobilizing diplomats for this quest is also in line
with the broader trend in diplomacy worldwide which is increasingly economic,
and SDG-oriented.
The interactive short course will first
provide diplomats with a general background on FDI trends worldwide, the impact
of the COVID-19 pandemic on FDI prospects and investment promotion, the
financing gap to achieve Agenda 2030, and estimates on how much investment has
been channelled so far to individual Goals. The course will also shed light on
UNCTAD’s upcoming handbook on investment promotion for diplomats, which will
reflect the latest developments in this field, including the promotion of
investment in Goal-related projects providing best practices and tools for
diplomats.