Achieving SDGs by 2030 needs $421b more

Bangladesh will require an additional $421 billion over the next five years to achieve the Sustainable Development Goals (SDGs) by 2030, according to a new government assessment unveiled yesterday.

The estimate was presented at a workshop on the Development Finance Assessment (DFA) and SDG financing in Dhaka. The event was organised by the Economic Relations Division (ERD), with support from the United Nations Development Programme (UNDP) and the UN Resident Coordinator’s Office in Bangladesh.

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The workshop reviewed findings from the DFA, a global tool that helps align financing policies, institutions and financial flows with national development priorities, and discussed Bangladesh’s updated strategy for financing the SDGs.

Selim Raihan, professor of economics at Dhaka University, presented the financing estimate for FY2026-FY2030. He said most of the required funding would need to come from domestic public and private sources, climate finance and international partnerships.

ERD Secretary Md Shahriar Kader Siddiky said the remaining years to achieve the SDGs would 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,” he said.

“What we now need is a clear set of priorities, coordinated action, better governance, and effective implementation,” he added.

UN Resident Coordinator Carol Flore-Smereczniak stressed the importance of domestic resource mobilisation at this stage of Bangladesh’s development.

She said opportunities for development financing are shrinking globally.

“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.”

Speaking on behalf of UNDP, Deputy Resident Representative Sonali Dayaratne underscored the need for stronger financing policies and partnerships to narrow the funding gap.

She said the financing gap for achieving the country’s development goals had widened further and that the government could use public resources to leverage and de-risk private investment.

“The challenge is one of economic governance. Getting it right requires building a financial ecosystem that is grounded in the application of transparent rules and regulations for all,” she said.