Financing for Development - Sustainable Development Goals (SDGs) – With Reference to India
Content:
What Is Financing for Development?
Millennium Development Goals
Sustainable Development Goals
Ways to achieve SDGs
Reference to India
Sources- UNDP, Economic Times, Business Standard.
Kenya Mobilizing financial resources needed for health in the SDG eraDeepak Mattur
- In 2015 the UN General Assembly formally accepted a new set of 17 measurable Sustainable Development Goals (SDGs), ranging from ending world poverty to achieving gender equality and empowering women and girls by 2030. The SDG target 3 encompasses 9 sub targets focussed on ensuring healthy lives and well-being for all. These goals set by the proposed SDGs are ambitious and challenging. It will not be achieved with a business-as-usual approach.
- ODA in Kenya: In 2013, ODA for Health reached its highest level at US$ 934 million. However, the outlook of future aid to Kenya remains flat.
- The share of government expenditure on health in Kenya has not shown a commensurate increase with its increase in GDP. The share has actually declined from 46% of the Total Health Expenditure in 2000 to 46% in 2000. Government needs to increase its share of health expenditure to meet the rising healthcare demands.
- At current level of health expenditure at US$ 1.9 BN, there exists an annual funding gap of US$ 1.4 BN to meet the needs of Healthcare services.
- Kenya needs to consider several instruments of innovative financing in order to achieve its financing needs for Health. Some of the potential options presented in this digital artefact are raising additional taxes, Debt-swaps and social bonds.
- There is a hope that Kenya will make a paradigm shift in its approach to health financing and the Healthcare financing gap in Kenya will be filled in with additional sources generated through innovative financing instruments.
The Financing for development program’s main objective is to familiarize more people with the new development agenda, the critical role of the private sector and the use of finance, including innovative solutions, to fund the SDGs and meet the Bank Group goals of ending poverty and boosting shared prosperity by 2030. It also deals with the terminologies, key concepts, sources of development finance, public, private and commercial, and multilateral, and the need for increased use of ODA and innovative financing solutions to mobilize and leverage domestic and official development resources alongside private funds.
Kenya Mobilizing financial resources needed for health in the SDG eraDeepak Mattur
- In 2015 the UN General Assembly formally accepted a new set of 17 measurable Sustainable Development Goals (SDGs), ranging from ending world poverty to achieving gender equality and empowering women and girls by 2030. The SDG target 3 encompasses 9 sub targets focussed on ensuring healthy lives and well-being for all. These goals set by the proposed SDGs are ambitious and challenging. It will not be achieved with a business-as-usual approach.
- ODA in Kenya: In 2013, ODA for Health reached its highest level at US$ 934 million. However, the outlook of future aid to Kenya remains flat.
- The share of government expenditure on health in Kenya has not shown a commensurate increase with its increase in GDP. The share has actually declined from 46% of the Total Health Expenditure in 2000 to 46% in 2000. Government needs to increase its share of health expenditure to meet the rising healthcare demands.
- At current level of health expenditure at US$ 1.9 BN, there exists an annual funding gap of US$ 1.4 BN to meet the needs of Healthcare services.
- Kenya needs to consider several instruments of innovative financing in order to achieve its financing needs for Health. Some of the potential options presented in this digital artefact are raising additional taxes, Debt-swaps and social bonds.
- There is a hope that Kenya will make a paradigm shift in its approach to health financing and the Healthcare financing gap in Kenya will be filled in with additional sources generated through innovative financing instruments.
The Financing for development program’s main objective is to familiarize more people with the new development agenda, the critical role of the private sector and the use of finance, including innovative solutions, to fund the SDGs and meet the Bank Group goals of ending poverty and boosting shared prosperity by 2030. It also deals with the terminologies, key concepts, sources of development finance, public, private and commercial, and multilateral, and the need for increased use of ODA and innovative financing solutions to mobilize and leverage domestic and official development resources alongside private funds.
Financing the 2030 Agenda for Sustainable Development Goals (SDGs) in BangladeshMostafa Amir Sabbih
This digital artifact is prepared as per the third week final project submission requirement of 'Financing for Development: Billions to Trillions to Action' course.
MDGs : Progress of Bangladesh
Bangladesh has made commendable progress in respect of eradication of poverty and hunger. It has sustained a GDP growth rate in excess of 6 percent in recent years that has played a positive role in eradicating poverty. The robust growth has been accompanied by corresponding improvements in several social indicators such as increased life expectancy and lower fertility rate despite having one of the world’s highest population densities.
Goal 2: Achieve Universal Primary Education
Promote Gender Equality and Empower Women
Goal 5 : Improve Maternal Health
Goal 4 : Reduce Child MortalityGoal 5 : Improve Maternal Health
Goal 6 :Combat HIV/AIDS,Malaria and other Deseases
Goal 7 : Ensure Environmental Sustainability
Goal 8 : Develop a Global Partnership for Development
Bangladesh's progress on the MDGs
Bangladesh has already met several targets of the MDGs like reducing poverty gap ratio, attaining gender parity at primary and secondary education, under-five mortality rate reduction, containing HIV infection with access to antiretroviral drugs, children under five sleeping under insecticide treated bed nets, detection and cure rate of tuberculosis under directly observed treatment short course and others. In addition, Bangladesh has made remarkable progress in the areas of poverty reduction, reducing the prevalence of underweight children, increasing enrolment at primary schools, lowering the infant mortality rate and maternal mortality ratio, improving immunization coverage and reducing the incidence of communicable diseases.
The Household Income and Expenditure Survey of 2010 data show that the incidence of poverty is declining at a rate of 2.47 percent per year since 1991-92 in Bangladesh. It can be said that the target of halving the population living below the poverty line is already achieved in 2012.On the other hand, areas in need of greater attention are hunger-poverty reduction and employment generation, increases in primary school completion and adult literacy rates, creation of decent wage employment for women, increase in the presence of skilled health professionals at delivery, increase in correct and comprehensive knowledge on HIV/AIDS, increase in forest coverage, and coverage of information and communication technology.
India @ G20 : A Primer on Priorities
Economic growth, industrialization, infrastructure and access to energy provide the foundations of development
for any growing economy.
‘Building Resilience’ is the prime objective of the G20 and with this in mind this grouping has set itself the
task of increasing the stability and resilience of economies, and thus of the global economy as a whole. Global
economic growth had taken quite a blow in recent times and therefore become much weaker overall than it
did after previous economic downturns. As a result, public and private debt across various regions, Central
banks’ interest rates got negatively impacted in many G20 countries. Structural reforms in G20 countries, with
focus on fiscal and monetary policies are the key to stability and long-term sustainability.
The Sustainable Development Goals (SDGs) represent an ambitious global plan that aims to eliminate poverty in its multiple forms and dimensions by 2030 by calling for action, all countries, rich and poor, to promote prosperity while protecting the planet. This paper aims at eradicating poverty through unlocking investment opportunies by effective management and development of the abundance of Natural resoucres in South Sudan. The paper targets the Government and Private sector as important agents for a successful and sustainable transition to a middle income country, with reduced Poverty and improved livelihoods.
DESA News is an insider's look at the United Nations in the area of economic and social development policy. The newsletter is produced by the Communications and Information Management Service of the United Nations Department of Economic and Social Affairs in collaboration with DESA Divisions. DESA News is issued every month.
Financing the 2030 Agenda for Sustainable Development Goals (SDGs) in BangladeshMostafa Amir Sabbih
This digital artifact is prepared as per the third week final project submission requirement of 'Financing for Development: Billions to Trillions to Action' course.
MDGs : Progress of Bangladesh
Bangladesh has made commendable progress in respect of eradication of poverty and hunger. It has sustained a GDP growth rate in excess of 6 percent in recent years that has played a positive role in eradicating poverty. The robust growth has been accompanied by corresponding improvements in several social indicators such as increased life expectancy and lower fertility rate despite having one of the world’s highest population densities.
Goal 2: Achieve Universal Primary Education
Promote Gender Equality and Empower Women
Goal 5 : Improve Maternal Health
Goal 4 : Reduce Child MortalityGoal 5 : Improve Maternal Health
Goal 6 :Combat HIV/AIDS,Malaria and other Deseases
Goal 7 : Ensure Environmental Sustainability
Goal 8 : Develop a Global Partnership for Development
Bangladesh's progress on the MDGs
Bangladesh has already met several targets of the MDGs like reducing poverty gap ratio, attaining gender parity at primary and secondary education, under-five mortality rate reduction, containing HIV infection with access to antiretroviral drugs, children under five sleeping under insecticide treated bed nets, detection and cure rate of tuberculosis under directly observed treatment short course and others. In addition, Bangladesh has made remarkable progress in the areas of poverty reduction, reducing the prevalence of underweight children, increasing enrolment at primary schools, lowering the infant mortality rate and maternal mortality ratio, improving immunization coverage and reducing the incidence of communicable diseases.
The Household Income and Expenditure Survey of 2010 data show that the incidence of poverty is declining at a rate of 2.47 percent per year since 1991-92 in Bangladesh. It can be said that the target of halving the population living below the poverty line is already achieved in 2012.On the other hand, areas in need of greater attention are hunger-poverty reduction and employment generation, increases in primary school completion and adult literacy rates, creation of decent wage employment for women, increase in the presence of skilled health professionals at delivery, increase in correct and comprehensive knowledge on HIV/AIDS, increase in forest coverage, and coverage of information and communication technology.
India @ G20 : A Primer on Priorities
Economic growth, industrialization, infrastructure and access to energy provide the foundations of development
for any growing economy.
‘Building Resilience’ is the prime objective of the G20 and with this in mind this grouping has set itself the
task of increasing the stability and resilience of economies, and thus of the global economy as a whole. Global
economic growth had taken quite a blow in recent times and therefore become much weaker overall than it
did after previous economic downturns. As a result, public and private debt across various regions, Central
banks’ interest rates got negatively impacted in many G20 countries. Structural reforms in G20 countries, with
focus on fiscal and monetary policies are the key to stability and long-term sustainability.
The Sustainable Development Goals (SDGs) represent an ambitious global plan that aims to eliminate poverty in its multiple forms and dimensions by 2030 by calling for action, all countries, rich and poor, to promote prosperity while protecting the planet. This paper aims at eradicating poverty through unlocking investment opportunies by effective management and development of the abundance of Natural resoucres in South Sudan. The paper targets the Government and Private sector as important agents for a successful and sustainable transition to a middle income country, with reduced Poverty and improved livelihoods.
DESA News is an insider's look at the United Nations in the area of economic and social development policy. The newsletter is produced by the Communications and Information Management Service of the United Nations Department of Economic and Social Affairs in collaboration with DESA Divisions. DESA News is issued every month.
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national financing strategy for Namibia, to access additional sources of finance for its development towards the sustainability development goals (SDGs). a logical thought process, moving from high-level opportunities to access sources of finance to a concrete strategy for achieving it.
This document aims at raising awareness of college students who receive their first introductory training course on international development. At the end of this course, the students will understand the need for synergies between the public and private sectors in order to increase available fund to fulfill the Sustainable Development Goals (SDGs). It is of the utmost importance that the international community mobilizes itself towards the fulfillment of the SDGs within the next 15 years. The self-explanatory figure explains the process of financing for development while the short text brings an overall explanation.
Achieving the 2030 Agenda is critical. The recent Community Paper by the World Economic Forum focuses on the practical challenges countries are facing and makes recommendation on developing sustainable project pipelines which are commercially viable and can secure blended finance applications.
The various source of funding , its disbursement trend, sectoral use for economic development, impediments for effective uses, shifting from MDGs to SDGs, Pillars of Sustainable Development, Blending of Financing, PPP in development are the key area discussed in this essay.
This document is elaborated as part of an assignment included in online course “Financing For Development” led by World Bank Group on Coursera Platform.
•Target audience: General Public in my country of origin. It is an informative document..
The main objectives of this artifact are the following:
• Inform general public about the highlights of Sustainable Development Goals (SDGs) in a concise and clear way.
• Raise awareness and spread ideas, as many of the problems and issues explored during the course are known within specific community but may not be well understood by the general public.
• Make general public conscious of the challenges foreseen and explore some of the action lines opened to reach the Sustainability Development Goals (SDGs).
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2. CONTENT
What Is Financing for Development?
Millennium Development Goals
Sustainable Development Goals
Ways to achieve SDGs
Reference to India
3.
4. WHAT IS FINANCING FOR DEVELOPMENT?
Financing for development ultimately is money that comes from you
and me and billions of others who in turn entrust it to others who
invest it and deploy it. In the end, we are all stakeholders in the
finance for development agenda.
5. MILLENNIUM DEVELOPMENT GOALS (MDGS)
In 2000, 189 nations made a promise to free people from extreme
poverty and multiple deprivations. This pledge became the eight
Millennium Development Goals to be achieved by 2015. In
September 2010, the world recommitted itself to accelerate progress
towards these goals.
The Millennium Development Goals (MDGs) are the
eight international development goals that were established following
the Millennium Summit of the United Nations in 2000, following the
adoption of the United Nations Millennium Declaration
6.
7. ACCOMPLISHMENT OF MDGS
The Millennium Development Goals were established in the year
2000 and include eight anti-poverty targets to be accomplished
by 2015. Since then, enormous progress has been made
towards achieving the MDGs:
Global poverty continues to decline
More children than ever are attending primary school
Child deaths have dropped dramatically
Access to safe drinking water has been greatly expanded
Targeted investments in fighting malaria, AIDS and
tuberculosis have saved millions
9. WHAT’S NEXT?
•The Millennium
Development
Goals show that
targets work. They
have helped end
poverty for some, but
not all.
•In September 2015,
United Nations
Member States
adopted
the Sustainable
Development
Goals as part a new
sustainable
development
agenda that must
finish the job and
leave no one
behind.
10. A NEW VISION FOR SUSTAINABLE DEVELOPMENT
In 2000, world leaders set eight Millennium Development Goals
(MDGs) aimed at ending poverty and hunger, improving education,
gender, and health, and promoting sustainable development. With
the MDGs set to expire at the end of 2015, a new post-2015
development agenda is being designed. Today’s global realities and
development challenges require that the proposed agenda be more
ambitious and interconnected than its predecessor, with a more
comprehensive vision of development embracing economic, social
and environmental dimensions.
The proposed Sustainable Development Goals (SDGs) encourage
every country to end poverty and enhance social and economic
development in a sustainable manner. These goals will not be
achieved with a business-as-usual approach.
12. WHERE IS THE FUNDING GOING TO COME FROM TO
ACHIEVE THESE 17 GOALS?
There are three sources of finance for the SDGs:
Domestic in-country resources
Traditional aid
Private finance
13. WAYS TO ACHIEVE SDGS
Domestic Resource Mobilization - Domestic Resource Mobilization
(D.R.M.) refers to the generation of savings from domestic resources and
their allocation to economically and socially productive investments.
Such resource allocation can come from both the public and private
sectors. The public sector does this through taxation and other forms of
public revenue generation
Reducing Illicit Financial Flows - Illicit financial flows (IFFs) are illegal
movements of money or capital from one country to another. GFI
classifies this movement as an illicit flow when the funds are illegally
earned, transferred, and/or utilized.
Official Development Assistance - DAC defines ODA as “those flows
to countries and territories on the DAC List of ODA Recipients and to
multilateral institutions which are provided by official agencies, including
state and local governments, or by their executive agencies; and each
transaction of which:
a) is administered with the promotion of the economic development and
welfare of developing countries as its main objective; and
b) is concessional in character and conveys a grant element of at least
25 per cent (calculated at a rate of discount of 10 per cent).”
14. WAYS TO ACHIEVE SDGS
Improving the Investment Climate - The investment climate for private business is
critically important.
Public - Private Partnership - A public private partnership is a government service or
private business venture which is funded and operated through a partnership of
government and one or more private sector companies.
The Potential of Institutional Investors in Development
Increasing Private Philanthropy in Development
15. WHAT ARE THE AREAS WHERE INDIA CAN MAKE THE
MOST PROGRESS IN HELP ACHIEVING THE SDGS?
India has made significant progress in achieving some of the MDG targets,
particularly in education and health, aided by clear, quantifiable targets and
regular monitoring of progress.
The SDGs present the Government of India with an opportunity to reaffirm its
commitment to providing quality primary health care to all. What we have
seen is that this requires setting robust national and sub-national level plans
while targeting the most vulnerable. Investments must be made to develop
strong, resilient primary healthcare systems which have the requisite
infrastructure and are fully functional. I believe that India has the political
commitment and intellect to draw robust plans and adapt measures that will
aid in closing the gap on preventable deaths, which disproportionately affect
the poorest.
16. CHALLENGES FOR INDIA IN ATTAINING SDGS
Defining Indicators: Past record indicates that we have been not very
successful in setting relevant indicators to measure outcomes. Quality
education has not successfully been defined. India’s myopic definition of
“safe” drinking water (with hand pumps and tube wells considered as safe as
piped water supply) means that official data suggests 86% of Indians have
access to safe drinking water and, as a result, we are “on track” for
the MDG goal on drinking water. However, the number of waterborne
diseases and deaths due to diarrhoea clearly indicate, this is not the case.
Financing SDGs: A new study estimates that implementing SDGs in India
by 2030 will cost around US$14.4 billion. Given the recent cut in social sector
schemes by the Union government, unless states devote a significant portion
of their resources on the social sector, there is likely to be a significant
funding gap. High growth and redistribution itself are also not enough.
According to theUnited Nations MDG 2014 report, despite high economic
growth, in 2010, one-third of the world’s 1.2 billion extreme poor lived in India
alone. Given these constraints, it is likely that domestic revenues aside,
private finance could be a crucial source for financing the SDGs.
17. CHALLENGES FOR INDIA IN ATTAINING SDGS
Monitoring and Ownership: Relatedly, a third significant
challenge is going to be with respect to ownership. Reports suggest that NITI
Aayog will play a significant role in tracking progress. However, members at
the Aayog have expressed reservations on being able to take on this
mammoth task. Moreover, if states are expected to play a pivotal role (giving
the devolution post 14th Finance Commission), it will require ownership not
just nationally, but also at the state and local level.
Measuring Progress: Lastly but most importantly is the question
of measuring progress or achievement. By the government’s own admission,
non-availability of data (particularly in respect to sub-national levels),
periodicity issues and incomplete coverage of administrative data, made
accurate measuring progress of even MDGs virtually impossible.
18. CONCLUSION
These 4 challenges aside, it is important to
remember, that while SDGs provide broad goals
and targets, it will be up to the national, and state
governments to identify priorities, decide
appropriate locally relevant policies, harness
innovation and ensure that an implementation and
monitoring plan is in place. Only then we will have
any chance in ensuring that the ‘S’ in SDGs, also
stand for successful.