Dhaka: Bangladesh will need about USD 421 billion in extra funding over the next five years to attain Sustainable Development Goals (SDGs), according to a new government assessment unveiled on Sunday at a national workshop in Dhaka.
According to United News of Bangladesh, 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 ‘National Validation Workshop on the Development Finance Assessment (DFA) and SDG Financing’. This workshop was aimed at reviewing findings from the DFA, a global tool designed to align financing policies, institutions, and financial flows with national development priorities. Discussions also focused on Bangladesh’s updated SDG Financing Strategy.
Feedback derived from the workshop will be instrumental in finalizing both the DFA and the Financing Strategy, as stated by the UNDP. ERD Secretary Md Shahriar Kader Siddiky acknowledged the challenges that lie ahead for the remaining SDG period up to 2030. He emphasized the large financing gap, the limited time available, and the uncertain global environment but expressed confidence in Bangladesh’s capacity to make meaningful progress. Siddiky stressed the need for clear priorities, coordinated action, improved governance, and effective implementation.
Carol Flore-Smereczniak, the UN Resident Coordinator in Bangladesh, underscored the importance of domestic resource mobilization in the country’s developmental journey. She highlighted the diminishing opportunities for development financing globally, which presents an opportunity for Bangladesh to bolster its domestic investment in the SDGs. This can be achieved by increasing the tax-to-GDP ratio and encouraging private sector investments aligned with the SDGs.
ERD Additional Secretary and chair of the event, A.H.M. Jahangir, highlighted the necessity of a joined-up financing plan as Bangladesh prepares to graduate from LDC status. From the UNDP’s perspective, Sonali Dayaratne, Deputy Resident Representative, emphasized the need for stronger financing policies and partnerships to bridge the funding gap. She pointed out that the widening gap in meeting national development targets could be addressed by deploying public resources to leverage and de-risk private investments. Dayaratne emphasized the importance of economic governance and building a financial ecosystem grounded in transparent rules and regulations.
Dr. Selim Raihan, Professor of Economics at the University of Dhaka, presented the findings, outlining Bangladesh’s evolving financing landscape and options for increasing funding from public and private sources. He presented the USD 421 billion estimate for FY2026-FY2030, indicating that most of it will need to come from domestic public and private finance, climate finance, and international partnerships.
The workshop, supported by the UNDP Climate Finance Network (CFN) Programme and funded by the UK’s Foreign, Commonwealth and Development Office (FCDO), brought together government officials, development partners, banks, academics, and civil society to discuss the findings of the two studies. The aim was to better plan the financial roadmap to achieve the SDGs.