Sustainable Development Goals SDG Financing
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Overview and purpose
- The Sustainable Development Goals (SDGs) are a set of global development targets adopted by the member countries of the United Nations in September 2015.
- The SDGs will guide the global development agenda through 2030.
- The International Monetary Fund has launched several initiatives to enhance support for its member countries as they pursue the SDGs.
- A Staff Discussion Note on A Post-Pandemic Assessment of the Sustainable Development Goals builds on previous Fiscal Affairs Department (FAD) work that estimated the cost of reaching the SDG in key development sectors (an SDN published in 2019).
Analytical tool and scope
- The Staff Discussion Note (joint work between the IMF Fiscal Affairs and African Departments (FAD and AFR)) is built on a novel tool to assess development financing strategies.
- The tool:
- Seeks to gauge the different financing options available to countries.
- Aims to help answer whether sufficient financing is available to meet the SDGs by their 2030 target date.
- Monitors the performance of the economy on funding SDGs in five key development areas: education, health, roads, electricity, and water and sanitation.
- Assesses additional financing options.
- The tool has been applied to four case studies—Rwanda, Nigeria, Cambodia, Pakistan—to gauge the financial resources needed to achieve the SDG targets in these development areas and assess alternative policy options to meet these needs.
Country findings and key statistics
- Rwanda
- Rwanda is a fast-growing sub-Saharan economy with a sizeable public sector.
- Poverty levels fell from 60% in 2000 to 38% in 2019.
- Human development index value doubled to 0.52 between 1990 and 2019.
- Despite progress, more effort is needed for Rwanda to achieve the SDGs by 2030.
- Nigeria
- Nigeria is a natural resource economy with a small public sector and is Africa’s most populous country and its largest economy.
- In the period up to 2015, the country reduced extreme poverty by some 20 percentage points while improving health indicators and lowering the HIV/AIDS infection rate.
- Healthy life expectancy at birth is 49 years.
- Only 4% of the population is connected to a safe water supply.
- Even before the COVID-19 crisis, growth had decelerated and was projected to remain lackluster, complicating achievement of development goals.
- Cambodia
- Cambodia ranks among the fastest-growing economies in Southeast Asia.
- Over the past decade, spending on health doubled and spending on education tripled.
- Cambodia became one of the top ten performance improvers globally based on the UNDP’s Human Development Index.
- The SDG framework was incorporated into the country’s National Strategic Development Plan 2019–2023, with relevant national targets, estimates of spending needs, and their financing sources adopted by line ministries.
- Pakistan
- Pakistan is a large emerging economy with mixed economic and social development results over the last two decades.
- Poverty (according to the national poverty line) fell by 40% to 24% between 2000 and 2015.
- Performance in critical SDG sectors lags behind that of its emerging market peers; in education, water, and sanitation it is below the LIDC average.
- Volatile economic performance and fast population growth have affected progress in SDG sectors.
Events and institutional engagement
- An event titled IMF Managing Director Kristalina Georgieva & Ian Goldin in conversation: "Roadmap to the Sustainable Development Goals" is associated with the IMF’s engagement on SDG financing.
Content in this bundle
- SDG Financing Options in Rwanda: A Post-Pandemic Assessment
- Sdnea2021003bn
References