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On Monday, June 12th, 2023, a significant event was held under the Swedish Presidency of the Council of the European Union at the SQUARE Meeting Centre in Brussels, Belgium. This gathering titled Financing Digital Transformation for Inclusive and Sustnable Growth: Delivering on Global Gateway and the SDGs med to explore innovative approaches to mobilize funding and align investment needs with sustnable digital evolution. Laure Blanchard Brunac, our Director of Policy and Partnerships, participated in a panel discussion focused on Innovative Financing Strategies to Bridge the Connectivity Divide.
Maria H?kansson, CEO of Swedfund and the Finnish Development Finance Institution Finnfund's CEO, Jaakko Kangasniemi, contributed their insights during separate sessions. This event highlighted how digital transformation can contribute significantly to achieving the Sustnable Development Goals SDGs. However, many low-income countries face challenges in financing their digitalization agas due to gaps in connectivity and infrastructure development.
Digital transition is pivotal for sustnable development; yet, commercial difficulties often hinder funding for infrastructure improvements necessary for universal connectivity. To overcome this hurdle requires a collaborative effort between public and private sectors. Private capital is the primary source of financing digital transformations, but policymakers must create an enabling environment that supports sustnable and profitable investments.
The Global Gateway strategy underpins Team Europe's approach by offering investment packages to fund flagship projects in Science, Technology, and Innovation STI. This initiative promote a green transition while contributing to poverty reduction through inclusive growth. It provides opportunities for aligning digital transformation efforts with SDGs and the Addis Ababa Action Aga.
The panel discussion Laure participated in centered around innovative financing mechanis bridge global connectivity gaps. The discussion highlighted strategies addressing commercial challenges, focusing on funding last-mile connectivity even in areas considered hard-to-reach for investors. To tackle this issue, the panellists advocated for a broader investor base, strategic financing tools, supportive policies, and improved coordination systems.
In his panel discussion titled Safe and Meaningful Connectivity: The European Offer for Sustnable Infrastructure, Jaakko Kangasniemi shared insights on how digital infrastructure investments can be securely managed while fostering sustnable development. He advocated for a comprehensive approach that integrates principles of openness, security, and digital sovereignty with the goal of promoting resilient digital infrastructures.
The event served as a platform to discuss collaboration strategies med at mobilizing funds for inclusive and environmentally responsible digital transformation. By focusing on innovative financingand partnerships, the discussions emphasized the potential to bridge the digital divide and accelerate progress towards sustnable development goals without leaving anyone behind.
This gathering underscored the importance of financing digital transformations through collaborative efforts between public and private sectors, leveraging innovative financial mechanisms, supportive policies, and strategic partnerships to ensure that connectivity and digital infrastructures contribute to inclusive growth and sustnability. Through continued collaboration and innovation, we m to create a future where digital infrastructure serves as an enabler for global development goals.
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This article is reproduced from: https://www.edfi.eu/news/financing-digitalisation-for-inclusive-and-green-growth-delivering-on-global-gateway-and-the-sdgs/
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Financing Digital Transformation Strategies Global Gateway for Sustainable Growth Innovative Financing Models Discussion Inclusive and Environmentally Responsible Connectivity EU Presidencys Sustainable Development Focus Aligning Investments with SDGs