RELEASE, which is also named RELEASE G20 in relation to the G20 as the largest concentration of creditors, both government and private, represents a proposal for a flexible, partial, or total conversion of sovereign debt through the establishment of a counterpart fund by the debtor country, in local currency, dedicated to sustainable development—an SDG Fund. The fund would be endowed with amounts nominally equivalent to the values of existing debt payments.

The goal is to promote the achievement of SDGs in the most vulnerable countries facing severe economic crises that exacerbate their structural fragilities, encouraging medium- and long-term sustainable investments in resilient infrastructure and services. This would involve both public initiatives and incentives for the private sector. Promoting investments, particularly in developing countries with high demographic potential, can stimulate economic growth, foster trade, secure services, and create stable jobs. Therefore, debt reduction and restructuring are crucial to prevent widespread economic defaults and to catalyze SDG-focused recovery investments.

RELEASE G20 could represent a winning proposal for the international community, establishing a longterm agreement for debt burden reduction and a systematic, sustainable restructuring process for sovereign debt in the most fragile, heavily indebted countries, coupled with SDG-oriented investments.
The initiative would have a substantial impact on the international political level as a fundamental step in implementing the Financing for Development commitments while also being operationally transformative in the field of international cooperation. This would ensure a fair, regular, timely, and
effective debt restructuring process, enabling countries to invest in the SDGs.

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