Public-private partnership is key to SDGs financing: LGRD minister
New financing streams are needed to bridge the funding gap in SDG implementation, said UNDP Resident Representative Stefan Liller
Public-private partnership is crucial for achieving the Sustainable Development Goals (SDGs) in Bangladesh by 2030 as the private sector has been identified as a key financing source, said Local Government, Rural Development and Co-operative (LGRD) Minister Md Tazul Islam.
The SDG financing strategy identified the private sector as a major source which should be utilised for continuing momentum on delivering the SDGs at the local level, he said while addressing as chief guest at a workshop titled "SDG Localisation in Nine Lagging Districts: Findings and Way Forward" held at the Bangabandhu International Conference Centre in Dhaka on Thursday.
"While the government emphasises financing development activities at the grassroots level, we need to ensure that the resources of the government can bring the best possible outcome in achieving SDGs," the minister said.
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"The SDG Implementation Review Report shows that Bangladesh has not only adopted the SDGs in the development agenda but also has started the process of translating the goals according to local priorities, which is termed as SDG localisation", Tazul said at the workshop, organised jointly by the government and the United Nations Development Programme (UNDP).
Zuena Aziz, the principal coordinator for SDGs at the Prime Minister's Office (PMO), said, "We partnered with the UN to pilot and define the approach in nine lagging districts across Bangladesh, with at least one district from each of the eight divisions. For that, we ask not only development partners but also the private sector and civil society to come forward with their resources, knowledge, and solutions."
"Bangladesh government has given more emphasis on SDG localization. The country has identified 39+1 national priority indicators and took significant steps towards setting the framework for institutionalising the SDGs at different levels," said Gwyn Lewis, the UN resident coordinator in Bangladesh.
UNDP Resident Representative Stefan Liller said, "There is an important funding gap to achieve the SDGs both at the national and local levels. An estimation from 2017 shows that an additional $928 billion are needed only in Bangladesh."
"Therefore, we need to think and act on how to generate new financing instruments and new financing streams to bridge that gap - in this case, for local priorities. We also need to explore innovative solutions of how funding for local priorities can be channelled, allocated, coordinated, spent and reported in more efficient ways," Liller added.
"Sweden is a strong promoter of democratic governance, and we are happy to have been a development part in this process," said Maria Stridsman, head of Cooperation at the Embassy of Sweden.
