SDGs: World leaders okay better financing for developing countries

World leaders at the United Nations General Assembly in New York, yesterday, agreed to step up efforts to deliver the Sustainable Development Goals (SDGs).

They adopted a decisive, action-oriented political declaration, highlighting collective commitment to build a sustainable, inclusive and prosperous world by 2030.

With a strong focus on means of implementation, and particularly, on financing for development, the declaration acknowledges that without a quantum leap in investments, to enable just and equitable energy, food, digital transitions, and a transformation in education and robust social protection in developing countries, the goals will not be met.

Additionally, the declaration urged immediate action to deliver an SDG stimulus proposed by the UN Secretary General, which called for massive increase in financing – about $500 billion each year – for achievement of the goals.

World leaders had made a historic global promise to secure the rights and well-being of everyone on a healthy, thriving planet, when they agreed to the 2030 agenda and the 17 SDGs in 2015.

But at midpoint of implementation, the SDGs were in peril. Tens of millions had fallen into poverty since 2020. Over 110 million people had been forcibly displaced. Inequalities had also worsened, strikingly so for women and girls.

Many governments were forced to choose between debt payments and investing in healthcare and education. Climate emergency wreaked havoc on lives and livelihoods, while developing countries and the world’s most vulnerable people continued to bear the brunt of these crises.

Meanwhile, Nigeria Network of Non Governmental Organisations (NGOs) and the Global Call to Action Against Poverty (GCAP) have decried slow pace of progress on the SDGs.

This came up at the virtual and physical People’s Assembly, yesterday, during activities to commemorate Global Week of Action for SDGs, organised by the Nigeria Network of NGOs, in partnership with GCAP.

Executive Director, Noble Delta Women for Peace and Development International, Mrs. Caroline Usikpedo-Oliseowo lamented: “There has been slow response to achievement of the SDGs in Nigeria and we have been ranked 146 out of 166 countries globally with a scorecard of 54.3 per cent. Nigeria is also among the 20 least countries in the world to achieve the SDGs.”