BAKU, Azerbaijan, June 16. The Sustainable Development Goals (SDGs) require a new financing architecture, Minister of Planning, International Cooperation and Development of Guinea, Ismael N'falla Nabe, said, Trend's correspondent reports from the event.
He made the remark at the 8th SDG Dialogue “Innovative Financing for Sustainable Development, Beyond Aid and Traditional ODA" within the framework of the Islamic Development Bank (IsDB) Annual Meeting in Baku.
"Achieving the SDGs is impossible without a transition to a new financing architecture based on investment, innovation, and regional integration, not just traditional international aid," he said.
He emphasized that the global community is at a point where existing financing models no longer meet the scale of modern development challenges.
"Developing countries in the 21st century face problems that cannot be solved with 20th-century tools. Today, it's not a question of a lack of capital, but rather the ability to effectively channel these resources toward sustainable development goals," he noted.
The minister reiterated that financing the SDGs requires fundamentally new approaches to mobilizing investment.
"The problem lies in our collective ability to structure capital, mitigate risks, and channel it where it can create long-term value," said Nabe.
He underscored that international development must shift from a model based primarily on official aid to a system where investment, partnerships, and innovative financial instruments play a key role.
"Public finance alone is insufficient, and private capital alone cannot provide the necessary scale. But together, they can become a transformative force," the minister announced.
According to him, Guinea is implementing a long-term national development strategy focused on structural transformation of the economy.
"We are convinced that natural resources alone do not create prosperity. It is created by institutions, human capital, infrastructure, innovation, and an effective financial system," he emphasized.
Nabe noted that the country strives not simply to attract more resources, but to create a higher-quality financial architecture capable of stimulating private investment, developing regional value chains, and creating jobs.
He specifically highlighted the potential of innovative financial instruments, including Islamic finance, digital technologies, green finance, and trade finance.
"These instruments are not an alternative to traditional development, but its future. They allow for expanded access to capital, reduced investment risks, and accelerated structural transformation of economies," the minister noted.
In conclusion, he emphasized that achieving the SDGs is only possible through strengthened international and regional cooperation.
"No country can achieve the Sustainable Development Goals alone. We need to build a new financial architecture—publicly managed, private sector-backed, digital, and regionally integrated," added Nabe.
