Additional $421b needed by fy2030 to advance SDGs

The Economic Relations Division (ERD), with support from the United Nations Development Programme (UNDP) and the UN Resident Coordinator’s Office in Bangladesh, organized the aforementioned "National Validation Workshop on the Development Finance Assessment (DFA) and SDG Financing".

The workshop reviewed findings from the DFA-- a global tool that helps align financing policies, institutions, and financial flows with national development priorities and also discussed Bangladesh’s updated SDG Financing Strategy.

Speaking as the chief guest, Secretary of ERD Md Shahriar Kader Siddiky said: “The remaining period of SDGs up to 2030 will be challenging.

The financing gap is large, the time available is limited, and the global environment remains uncertain.

Nevertheless, I remain confident that Bangladesh can make meaningful progress,” “What we now need is a clear set of priorities, coordinated action, better governance and effective implementation,” he added.

Carol Flore-Smereczniak, UN resident coordinator, highlighted the significance of domestic resource mobilization at this moment in Bangladesh’s development journey.

She said: “In today’s world, opportunities for development financing are diminishing.

This is an opportunity for Bangladesh to increase its domestic investment in the SDGs by increasing the tax-to-GDP ratio and by encouraging the private sector to make SDG-aligned investments”.

Additional Secretary of ERD and the Chair of the event, AHM Jahangir, stressed the need for a joined-up financing plan as Bangladesh prepares to graduate from LDC status, said an ERD press release.

Speaking for UNDP, Sonali Dayaratne, deputy resident representative, underscored the need for stronger financing policies and partnerships to close the funding gap.

"The financing gap to meet national development targets has further widened.