Dhaka: Bangladesh will require approximately $421 billion in additional funding over the next five years to achieve its Sustainable Development Goals (SDGs), as revealed in a new government assessment unveiled today at a national workshop in Dhaka.
According to Bangladesh Sangbad Sangstha, the Economic Relations Division (ERD), supported by 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 assessed findings from the DFA, a global tool that aids in aligning financing policies and institutions with national development priorities, and also discussed Bangladesh's updated SDG Financing Strategy.
Md Shahriar Kader Siddiky, Secretary of ERD, expressed that the period leading to 2030 will be challenging due to the large financing gap, limited time, and uncertain global environment. However, he remains optimistic about Bangladesh's potential progress, emphasizing the need for clear priorities, coordinated action, and effective governance.
UN Resident Coordinator Carol Flore-Smereczniak stressed the importance of domestic resource mobilization at this critical stage of Bangladesh's development. She pointed out the diminishing opportunities for development financing globally and encouraged Bangladesh to increase its domestic investment in the SDGs by enhancing the tax-to-GDP ratio and promoting SDG-aligned private sector investments.
Additional Secretary of ERD, A.H.M. Jahangir, emphasized the necessity for a comprehensive financing plan as Bangladesh transitions from LDC status, as mentioned in an ERD press release. Sonali Dayaratne, Deputy Resident Representative for UNDP, highlighted the urgency of stronger financing policies and partnerships to bridge the funding gap. She noted the importance of leveraging public resources to mitigate risks for private investments and the need for robust economic governance.
Dr. Selim Raihan, Professor of Economics at the University of Dhaka, presented the findings, detailing Bangladesh's evolving financing landscape and potential avenues for raising funds from public and private sources. He highlighted the $421 billion estimate for FY2026-FY2030, indicating that most of this funding should come from domestic public and private finance, climate finance, and international partnerships.
Supported by the UNDP Climate Finance Network (CFN) Programme and funded by the UK's Foreign, Commonwealth and Development Office (FCDO), the workshop gathered government officials, development partners, banks, academics, and civil society to deliberate over the findings of the studies and better plan the financial roadmap for achieving the SDGs. Feedback from the workshop will contribute to finalizing both the DFA and the Financing Strategy.