Nepal is likely to fall behind achieving the targets set in the SDGs in designated timeframeNepal Needs Rs 1.1 Trillion Annually to Meet SDG Targets, But Faces Shortfall of Rs 585 Billion

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KATHMANDU, Aug 17: Nepal seems to fall behind in achieving the targets set for the Sustainable Development Goals (SDGs), mainly due to the inadequacy in allocation of financial resources in the concerned area.

According to Damodar Gyawali, national consultant of the SDGs for Nepal, the country seems to achieve only 59.7 percent progress in 17 sectors by 2030. The ambitious program launched by the United Nations in 2016 has now arrived almost half-way of the stipulated time.

The National Planning Commission (NPC) has estimated that it requires investment of Rs 1.1 trillion annually from the government alone during 2016-2030 to meet the targets of the SDGs. But Nepal is facing a shortfall of around Rs 585 billion every year to make necessary investment.

According to the NPC’s records, Nepal will face inadequacy of over Rs 1 trillion annually in five years’ period during 2026-2030. The government has allocated only Rs 400 billion under the headings of SDGs for the fiscal year 2023/24.

The Government of Nepal, the NPC and the United Nations in Nepal, jointly organized the SDGs Acceleration Visioning Workshop to rally for the SDGs. The workshop that was conducted ahead of the SDG Summit to be held in September, aimed to review the status of the SDG Progress in Nepal and identify priority areas for SDGs acceleration and outline a roadmap for strategic actions.

The SDGs incorporate the targets of achieving notable goals in poverty alleviation, reducing inequality, ensuring quality education and protecting the environment, among others. For this purpose, a total of 301 indicators have been developed. Although the ambitious plan has been maintained to end poverty, Nepal seems to achieve only 75.1 percent progress in the line.

“The road ahead to achieve the SDGs globally and in Nepal is still a bit steep. But it is one we can, must and will achieve- together – and for the people we serve from all parts of this incredibly beautiful country,” said Hanaa Singer Hamdy, the UN Resident Coordinator in Nepal.

Min Bahadur Shrestha, vice-chair of the NPC, said the Government of Nepal is passionately internalizing the SDGs through the current 15th plan and its regular programs and policies. According to him, Nepal has identified key areas that hold the potential to catalyze economic transformation, leading us towards SDG attainment and irreversible graduation from LDC status.

“Our focus is on enhancing production and productivity within our economy, generating skilled human capital, and creating inclusive employment opportunities including a robust emphasis on quality education, accessible healthcare systems, sound infrastructure, responsible urbanization, social empowerment, inclusivity, social security, increased capital expenditure, biodiversity preservation, and effective governance.” Shrestha added.

Source: Republica