Summit explores impact investment options for development

Mar 21, 2017

The Tumo Center for Creative Technologies is a free of charge digital media learning center in Yerevan, Armenia

Yerevan, Armenia - The world’s leading social entrepreneurs and development practitioners kicked off a summit here today which will explore possibilities for scaling up impact investment for achieving the Sustainable Development Goals (SDGs).

It is estimated that $172.5 trillion are needed to meet the goals by 2030. Given the sheer size and scope of these goals, philanthropy and government spending alone won’t be enough to get the job done. It is imperative that the private sector—and equity investors—play a significant part in providing solutions.

“Impact investment has gained worldwide traction as a method of solving development problems in a more sustainable way. UNDP is moving towards adopting social entrepreneurship and impact investment principles in the development work,” said Magdy Martinez-Soliman, Assistant UN Secretary General, Director of UNDP Bureau for Policy and Programme Support.

The IID Summit includes a set of events, including a series of TEDx talks, showcase-sessions for pioneering impact ventures that present fresh solutions for the SDGs, interactive discussions, a thematic exhibition, and more.

The Summit will take place at the Tumo Center for Creative Technologies  – a venue intentionally selected as an example of an innovative impact venture that directly supports development. Several other social enterprises have contributed to the Summit.

Non-conventional approaches to development are vital to the achievement of the Agenda 2030, in particular the commitment to leave no one behind. UNDP and the Government Armenia has already taken the first step in this direction.

The government-affiliated Center for Strategic Initiatives, the government’s own “reform accelerator”, will host the first-of-its-kind national SDG Lab in Armenia, with the support of UNDP and the Stanford Change Labs. The SDG Lab within the Center will bring together a cross section of bright minds, who have the capacity to think “out of the box” and propose new ways of addressing Armenia’s most entrenched socio-economic and environmental challenges.

For media inquiries please contact: Hovhannes Sarajyan, hovhannes.sarajyan@undp.org, Tel: +374 60 530000 (ext. 128) or Mariam Movsisyan, mariam.movsisyan@undp.org; Tel: +374 60 530000 (ext. 134)

Please visit the Summit website www.iido.events for further details.

 

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