Stolen asset recovery key to Bangladesh’s SDG goals: NGOs

Environmental and development organisations have underscored the importance of repatriating stolen assets to support Bangladesh's progress toward the Sustainable Development Goals (SDGs).

At a press conference titled "Beyond Aid: Reclaim Bangladesh's Laundered Wealth for Achieving SDGs," held at the ERF office in Dhaka today, representatives of these organisations discussed the challenges in achieving the SDGs by 2030 amid declining foreign aid, unfair taxation, illicit financial flows, money laundering, and rising debt.

They highlighted that over the past 15 years, more than $100 billion has been laundered abroad, an amount nearly equal to Bangladesh's national budget for the next two years and sufficient to cover almost all of its foreign debt. They strongly demanded that this stolen wealth be returned to Bangladesh.

COAST Foundation, along with EquityBD, BCJF, NDF, Sundarbans O Upkul Surakha Andulon, UDAYAN and Waterkeeper Bangladesh, jointly organised the press conference ahead of the 4th International Conference on Financing for Development (FFD4).

FFD4, to be held in Sevilla, Spain, from 30 June to 4 July, marks a crucial moment for Bangladesh's economic future and progress toward the Sustainable Development Goals (SDGs).

As Bangladesh prepares to graduate from Least Developed Country (LDC) status by 2026, FFD4 aims to address key global financial reforms, including domestic resource mobilisation, debt policy, and climate finance, areas vital for the country's development. 

In his keynote presentation, Md Iqbal Uddin of the COAST Foundation said that FFD4 must adopt strong global measures to curb illicit financial flows and repatriate laundered money to Bangladesh to support sustainable development. 

Rezaul Karim Chowdhury, chief moderator of EquityBD, said that countries like the UK, USA, Netherlands, Germany, Switzerland, and Belgium are cutting their overseas development assistance (ODA), and stressed that beyond aid, rich nations must stop illicit financing and return stolen assets to Bangladesh to help achieve the SDGs.

Sharif Jamil of Waterkeepers Bangladesh argued that if there were no safe havens, money laundering would not occur in rich countries, urging the FFD4 to act against such enablers. 

Nikhil Bhadra from Sundarbans Conservation Movement called for investing in coastal communities by reclaiming laundered funds and cancelling Bangladesh's illegal debts.