The Road to the SDGs

based on the genuine root causes of problems – Enabling off-balance-sheet resource mobilisation; streamlining the transfer of information from the CP (demand-side) to donors/ investors (supply side) – Ensuring speedy project implementation through real and virtual field presence using a participatory model. X The GCP is powered by blockchain. Blockchain is a technology that can increase development impact by providing transparency and reducing fraud, whilst enabling efficiency. It enables organisations to create digital networks, where they can transact securely and digitally in a decentralised manner without the need for intermediaries. X IsDB sees blockchain as a technology that offers considerable potential and is strategically aligned with its strategic principles of decentralisation and moving towards being a bank of developers. ACHIEVEMENTS X The GCP successfully onboarded over 30 MCs to cover urgent needs during the COVID-19 crisis in 2020. X Through the SPRP, IsDB allocated US$ 2.3 billion to MCs. X Four UN agencies (UNOPS, WHO, UNICEF and UNDP) came together to implement the SPRP package. INVESTMENT X Currently, the GCP is mobilising resources for the SPRP Restore track, including financing for SMEs and trade to sustain activity in core strategic value chains, the aim being to ensure continuity of necessary supplies and other commodities (mainly to the health and food sectors). X ICD will act as the IsDB Group’s execution agent for lines of finance to MSMEs, while ITFC will be the Group’s execution agent for trade finance operations. The projects will feature 12 to 18-month revolving financing lines through export-import banks and IFIs. This support will be fully backed with a sovereign guarantee and priced according to the IsDB pricing guidelines. X ICIEC and IsDB have jointly launched the COVID-19 Guarantee Facility, an innovative programme providing US$ 2 billion in support of the private sector. The facility will be implemented by the two entities to support COVID-19-hit industries in MCs and to attract cross-border investments. G L O B A L C O O R D I N A T I O N P L A T F O R M F O R C O V I D - 1 9 The platform helped allocate US$2.3 billion to MCs The platform onboarded more than 30 MCs to cover urgent needs during the crisis [ 231 ] T H E R O A D T O T H E S D G s | P R O G R E S S A N D A C H I E V E M E N T S