SATV 21 April, Kathmandu: The National Planning Commission (NPC) has projected that Nepal will require an investment of Rs 21.065 trillion to implement the Sustainable Development Goals (SDGs) by 2030.
Releasing a report titled "Sustainable Development Goals: Needs Identification, Cost Estimation, and Fiscal Strategy, 2081 BS" in Kathmandu on Thursday, the NPC stated that an average of Rs 3.023 trillion per year will be required from 2024 to 2030 to meet the global development agenda.
The report identifies Goal 9 - related to industry, innovation, and infrastructure - as the costliest, demanding 24 percent of the total budget. Goal 7 (affordable and clean energy) and Goal 1 (poverty reduction) will require 12 percent and 11 percent, respectively.
According to the NPC, achieving the SDGs will necessitate 45.4 percent of Nepal's Gross Domestic Product (GDP) over the designated period.
To meet this financial need, the report outlines a strategy for mobilizing resources from the public, private, cooperative, and household sectors. The public sector is expected to contribute 57.5 percent, broken down as: 70% from the federal government, 9% from provincial governments, and 21% from local governments.
The remaining contributions are projected to come from the private sector (34.35%), non governmental sectors (4.18%), and households (3.95%).
Unveiling the report, NPC Vice Chair Prof. Dr. Shiva Raj Adhikari said, "We are working to identify both our needs and the resources required to meet them. This report introduces new funding sources and redefines the roles of all three tiers of government, alongside the private and cooperative sectors, to help achieve the SDGs."
The document underscores the need to tap into blended finance, climate finance, and other innovative financial mechanisms in addition to traditional funding avenues.
It also calls for comprehensive economic, policy, and legal reforms to bridge the long-term financial gap. Suggested strategic interventions include: sectoral policy reform, SDG prioritization, improved resource mobilization, increased foreign aid, greater cost-efficiency in public spending, and enhanced access to technology.
The NPC noted that the report was developed considering evolving challenges such as the COVID-19 pandemic, demographic changes, migration, urbanization, rising inequality, climate change, and the impacts of conflict, particularly in the context of Nepal's federal system.
Alongside the report, the NPC also launched a book titled "Method of Employing Key Economic Indicators," aimed at promoting the effective and accurate use of commonly referenced economic data.
#sustainable development goals #National Planning Commission
