Blending 2.0: Towards new (European External) Investment Plans
The UN 2030 Agenda for Sustainable Development places new emphasis on the need to mobilise financial resources to achieve the 17 universal sustainable development goals (SDGs). The ambition is to ‘move from billions to trillions’, mobilising much higher resources in the pursuit of sustainable development (MDBs, 2015). Contrary to the Millennium Development Goals (MDGs), aid is no longer at the centre of a transformative development agenda. Blending Official Development Assistance (ODA) with other sources of finance is one of the forms taken to stimulate and leverage private investments and finance for sustainable development. It is because of its high ambitions that the EIP has been heralded “a new chapter in EU development cooperation”, or more simply, blending 2.0. Living up to the expectation will be the exciting challenge.