Ruto calls for capital investment in the implementation of SDGs in a meeting with US Billionaires Bill Gates & Michael Bloomberg.
On Monday, President William Ruto urged world leaders to mobilize resources to address Sustainable Development Goals roadblocks.
Ruto made the remarks when he co-chaired the United Nations General Assembly Sustainable Development Goals dialogue on Applying Science and Technology Innovation and data for transformative action alongside Slovenia President Nataša Pirc Musar.
In his speech, Ruto argued that synchronizing global capital with sustainable development objectives was essential for growth that was climate-positive.
At a conference attended by billionaires Bill Gates and Michael Bloomberg, the president emphasized that obstacles such as debt, inflation, climatic shocks, and conflicts have caused Africa to fall behind in fulfilling the SDG.
“By enhancing Africa’s access to financing from global development capital, we will unlock the continent’s vast potential; its natural resources, arable land, and vibrant human capital,” he stated.
Bill Gates is the billionaire founder of Microsoft Company while Bloomberg is the former Mayor of New York and owner of Bloomberg L.P., a financial information, software and media firm.
Earlier, President Ruto attended a breakfast meeting at the United Arab Emirates UAE Mission to the UN, which was presided over by Sultan Ahmed Al Jaber, the president of COP28 and the UAE’s minister of industry and advanced technology.
President Ruto advocated for changes to the international financial system during the summit, focusing on debt restructuring and strengthening the International Financial Institutions (IFIs).
He said that this would enable developing countries in the global south to actively take part in tackling climate change.
“By eradicating unjust discrimination, we will foster shared prosperity and pave the way for the achievement of our climate action objectives and a sustainable future,” he added.
Other leaders who attended the event were President of the International Union for Conservation of Nature Razan Al Mubarak, CEO of Crescent Enterprises Badr Jafar, CEO of BlackRock Larry Fink, Zimbabwean businessman Strive Masiyiwa, and Dr Mo Ibrahim.
Ruto has been steadfast in championing climate action and held an inaugural African Climate Summit which raised trillions of shillings for the continent’s climate action.