Public Development Banks Acknowledge the Importance of Sport as an Enabler of the Sustainable Development Goals

International Olympic Committee news

On the occasion of the 2023 Finance in Common Summit (FICS), Public Development Banks (PDBs) expressed their wish to “harness the power of sports and cultural industries for the Sustainable Development Goals, recognised as a source of numerous kinds of jobs, of income at various scales, and as a social lever to connect, transform and actively engage people”.

At the FICS, held in Cartagena (Colombia) from 4 to 6 September, a roadmap to support PDBs was launched by the Coalition for Sustainable Development through Sport. The aim is to leverage sport as an innovative tool, building on the inspiring role of the Olympic and Paralympic Games, major international sports events, and the potential of the grassroots sports movement.

The FICS members also welcomed the initiative proposed by France to organise a Summit on “Sport for Sustainable Development”, to be convened in 2024.

The full final communiqué is available here.

A side event of the Coalition was delivered at the FICS. One of the main outputs was to showcase the progress and the economic and social value of joint sport-based projects initiated by Coalition members, including the International Olympic Committee (IOC) and the Organising Committee for the Olympic Games Paris 2024.

Cooperation with PDBs is a priority of the IOC’s Olympism365 strategy, and some case studies were discussed at the side event, including the partnerships established with the French Development Agency (AFD), the Inter-American Development Bank and the Latin American Development Bank.

One recent example is the tripartite agreement signed by the IOC, AFD and the Organising Committee for the Olympic and Paralympic Games Paris 2024, with the goal of extending the social legacy left by Paris 2024 at international level.

Another joint sport-based project is Sportic, a result of the collaboration between the IOC and the Inter-American Development Bank, with Fundación SES being the implementing organisation. This is a Latin America-based initiative that combines sport and technology to foster the socio-emotional development of local children and teenagers.

More information on the progress of the Coalition, and its roadmap to support PDBs, can be found in the Joint Declaration of the Coalition.

The Coalition for Sustainable Development through Sport

The IOC is one of the Supporting Partners of the Coalition, launched under the leadership of PDBs on the occasion of the Finance in Common Summit in November 2020. The goal of the Coalition is to mobilise resources for sports projects, leveraging its impact and capacity to foster development and inclusion.

Coalition members pledge to strengthen their financial resources, investments and expertise to build a sustainable world together, in line with the United Nations Sustainable Development Goals (SDGs).

The contribution of sport to SDGs: the IOC strategy

Launched in 2021, Olympism365 is the IOC’s strategy to strengthen the role of sport as an important enabler for the UN Sustainable Development Goals (SDGs), which it achieves by collaborating with a range of partners from both within and outside the Olympic Movement, including Public Development Banks and Development Financing Institutions. The themes and priority areas for Olympism365 reflect the positive role that sport and Olympism can play in society for the SDGs by contributing to creating healthier and more active communities, more equitable, sustainable, safer and inclusive communities, peacebuilding, and education and livelihoods.

For more information about Olympism365 and its work across the globe, go to olympics.com/ioc/olympism365.