The Road to the SDGs

PURPOSE X The year 2020 marked a key milestone for globalisation, forcing the world’s nations to make an important choice: to deglobalise or to reglobalise. In light of the steady increase in the population, with at least 40 million young men and women annually entering the job market, and the acceleration of structural challenges as a result of the fourth industrial revolution and the COVID-19 pandemic, the world sits at a crossroad with major trade-offs to make. X IsDB introduced to the G20 a new strategic orientation that aims to create a feasible pathway for reglobalisation to make globalisation more resilient, smarter and more inclusive. It demonstrated how resilience in GVCs can be achieved while maintaining optimal efficiency. By capitalising on the intrinsic comparative advantage of developing countries, global markets can have alternatives that are efficient in times of crisis. This not only makes globalisation more resilient but also inclusive of nations that have been left behind historically. METHOD X IsDB enjoyed unprecedented opportunities to support and participate in critical discussions while presenting the advantages of its new business model. X In December 2019, the Saudi Presidency of the G20, which is the main forum for international cooperation, invited IsDB to participate in its work under the theme for 2020: ‘Realising opportunities of the 21st century for all’. X In January 2020, IsDB assumed the chairmanship of the Heads of MDBs Meetings, a forum that brings together the 11 largest MDBs in the world and the International Monetary Fund. X To enable its global engagement and advocacy work, IsDB dedicated resources to: – Advocate its mission and vision – Provide expertise on global topics and knowledge of developing countries’ challenges – Foster improved coordination among MDBs in relation to G20 works – Build and develop strategic partnerships – Increase its global visibility and position itself as a world-class international organisation. X With its intensive work during the G20 Saudi Presidency, IsDB developed and demonstrated significant capacity to contribute to the G20 agenda by conducting studies and surveys and providing expert opinion and recommendations to policy makers. T wo important events marked the year 2020: IsDB was invited to the G20 as a ‘regional organisation’ under the Presidency of Saudi Arabia, and chaired 2020 Meetings of the Heads of MDBs Reglobalisation: IsDB’s strategic positioning for the G20 The G20 concluded its Leaders’ Summit in November 2020, and IsDB participated in over 120 meetings across all working groups under both Finance and Sherpa tracks, including all meetings of finance ministers and central bank governors [ 212 ] SDGs