Developing countries would be better able to finance the Sustainable Development Goals if rich countries were meeting their 2002 target to put 0.7 percent of gross national income into overseas aid.

Globalization, including a phenomenal expansion of trade, has helped lift millions out of poverty, but not nearly enough people have benefitted.

This is according to United Nations Conference on Trade and Development (UNCTAD) Deputy Secretary General Joakim Reiter who was speaking during the first major effort to measure progress in achieving the new goals.

“If rich countries had consistently met their 0.7 percent target by 2002, then developing countries would have been US$2 trillion better off,” said Reiter.

Image: UN Photo/Isaac Billy.