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SDG implementation needs additional $928b: Study

| Updated: November 09, 2017 20:32:14

SDG implementation needs additional $928b: Study

Bangladesh will require an additional amount of USD 928.48 to fully implement the Sustainable Development Goals (SDGs) in the country, a study reveals. 

According to the study, the amount is required to realise SDGs over a period of 13 years, from 2017 to 2030.    

The study, titled 'SDGs Financing Strategy: Bangladesh Perspective', shows that the annual average cost of SDGs will be USD 66.32 billion (at constant prices) for this period. 

General Economics Division (GED) of the Planning Commission prepared and published the report.

The report along with two others -- Bangladesh Voluntary National Review (VNR) 2017 on SDGs and A Training Handbook on Implementation of the 7th Five Year Plan -- was disclosed at a programme in the National Economic Council (NEC) conference room of the Planning Commission on Wednesday. 

Planning Minister AHM Mustafa Kamal presided over the programme jointly organised by GED, Engaging with Institutions (EI), IP Project and UNDP Bangladesh. 

The study estimated that an additional amount, over the current provision of cost related to SDGs by public sector, private sectors and external sources, would be around USD 928.48 billion at 2015-16 constant prices required for SDGs in the period FY2017-FY2030, which is 19.75 per cent of the accumulated GDP under 7th FYP extended scenario. 

The GED, with financial and technical support from two UNDP projects --Support to Sustainable and Inclusive Planning (SSIP) and Engaging with Institutions (EI), IP Project-- has prepared three books relating to Bangladesh's preparatory works for all-out implementation of SDGs in the country. 

Prime Minister's Political Affairs Adviser HT Imam addressed the function as the chief guest, while Executive Chairman of Bangladesh Investment Development Authority (BIDA) Kazi Aminul Islam, Economic Relations Division Secretary Kazi Shofiqul Azam, Finance Division Secretary Md. Muslim Chowdhury and UNDP Country Director Sudipto Mukerjee as special guests. 

GED member Dr Shamsul Alam made a presentation on the findings of the reports and government efforts in implementation of the SDGs in the country. 

The Planning Minister said Bangladesh is moving forward and showing a healthy sign of progress in economic and social field including that of SDGs. "We're very much on track and will hopefully achieve the SDGs well ahead of time." 

"Taking an inclusive approach, we've already integrated the SDGs into our 7th Five Year Plan, mapped the ministries by targets, conducted a data gap analysis and SDGs financing strategy and preparing a SDGs monitoring framework and national action plan to achieve the global goals," he added. 

HT Imam reiterated his government's political commitment to achieving the SDGs and transforming Bangladesh into a middle-income country by 2021 and a developed country by 2041. "To achieve the targets by the timeline, a 7-plus GDP is not enough, we've to reach double digit of the growth and have to employ our all-out effort in it." 

Terming Bangladesh an 'example of best practice in mainstreaming SDGs into national plan with an effective SDGs implementation plan, Sudipto said the UNDP will continue its support to Bangladesh to timely achieve its SDGs, said a press release. 

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