Community Investment Trusts Could Help Developing Countries Achieve the SDGs
The global community is not on track to achieve the SDGs by 2030, especially in developing countries. While there are many reasons for this disappointing progress, one of the critical missing ingredients is the absence of financial and technological conduits to channel available technologies and financial resources to financially viable for-profit businesses as well as not-for-profit social enterprises, cooperatives, and NGOs. However, Community Investment Trusts (CITs), similar in principle to those established in the US state of Alaska more than 50 years ago, along with several other complementary programs outlined below, can be a catalyst for creating more effective technological and financial conduits.
CITs would give communities – and families within these communities – both a voice and an ownership or equity stake in the selection and operation of investment projects located in each community. In today’s world, where power flows from the ownership of wealth in the form of income-producing assets, CITs can be a powerful weapon in the battle against anti-democratic, oligarchic concentrations of wealth and power, as well as a conduit for inclusive development.
CITs would give communities – and families within these communities – both a voice and an ownership or equity stake in the selection and operation of investment projects located in each community. In today’s world, where power flows from the ownership of wealth in the form of income-producing assets, CITs can be a powerful weapon in the battle against anti-democratic, oligarchic concentrations of wealth and power, as well as a conduit for inclusive development.