Section outline

  • 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.