Authors: Joseph Koroma*, Laney College
Topics: Africa, Development, Third World
Keywords: Africa, Development, Third World, Sustainable Development Goals
Session Type: Paper
Start / End Time: 1:20 PM / 3:00 PM
Room: Gallier A, Sheraton, 4th Floor
Presentation File: No File Uploaded
The SDGs are laudable goals for development. However, like the MDGs, the goals do not have a set of robust and reliable funding mechanism for countries that are already resource poor and cash strapped. The paper explores funding options for Sustainable Development in Africa. The pros and cons of various options such development aid, international trade, increasing tax revenues, international money transfers, and debt relief are articulated. Scholars and development practitioners have continued to propose increase in development assistance while some critics opposed the external assistance have called for domestic resource mobilization. Yet, there are acknowledgements and facts that support the premise that the capital markets and institutions for raising capital for development in Africa are nascent and inefficient at best. The paper will explore viable options available for financing sustainable development in Africa and analyze case studies of countries that have adopted best practices in the regard.