Home News Ghana needs $54b annually to finance SDGs – Prof Gyan Baffour

Ghana needs $54b annually to finance SDGs – Prof Gyan Baffour

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Chairman of National Development Planning Commission (NDPC), Gyan Baffour Chairman of National Development Planning Commission (NDPC), Gyan Baffour

Current funding for SDG is $9 billion

COVID-19 has hampered progress made in achieving SDGs

Private urged to contribute to Ghana’s SDG efforts

Chairman of National Development Planning Commission (NDPC), Gyan Baffour, has said that despite the strides Ghana in attaining the SDG, the issue of funding gap cannot be overemphasized.

He said the country’s SDGs (Sustainable Development Goals) Country Financing Roadmap estimated that $54billion is needed every year to implement projects and programmes that would spur up the attainment of the goals.

“Out of this amount, government together with development partners currently provide about $9billion annually leaving a financing gap of about $45billion,” he said.

He indicated that the private sector of Ghana, whose current contribution to the SDG effort was very low, was very critical to close the financing gap.

According to him an advisory the NDPC, through consultation has identified a set of practical actions that the private sector can undertake to support the attainment of the SDGs

He said the actions included the setting up of an SDGs Delivery Fund that would help in the attainment of six of the SDGs that required immediate actions namely SDGs 4 (quality education), 6 (clean water and sanitation), 7 (affordable and clean energy), 8 (decent work and economic growth), 9 (industry, innovation and infrastructure) and 12 (responsible consumption and production)

“The Delivery Fund is to be sourced from a percentage of the corporate social responsibility (CSR) of the private sector and is expected to generate US$100 million a year to finance the targeted Goals.”

“A Green Fund was also birthed to raise US$100 million in the first two years to advance the course of Goal 7 with particular emphasis on using environmentally friendly building materials and developing renewable energy sources for small and medium enterprises. However, the impact of COVID-19 has hampered the smooth take-off,” he added.



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