Nepal should spend 49 percent of its Gross Domestic Product (GDP) to achieve its Sustainable Development Goals (SDGs) during 2016-30, said the National Planning Commission (NPC) of Nepal.
Out of the required annual investment of USD 17 billion, public sector is expected to hold a major share of 51 percent leaving 21 percent contribution to the private sector and the remaining share to NGOs, households and cooperatives.
Majority of the public investment is expected to be allocated to poverty alleviation, agriculture, health, climate change, water and sanitation, education, transport infrastructure and governance.
Meanwhile, the private sector investment will be made for industry development, physical infrastructure, housing, urban infrastructure, tourism and energy sectors.
“But, the government’s revenue and private sector investment will not be sufficient to attain SDGs by 2030, requiring huge amount of foreign aid,” noted the report.
SDGs, a follow-up to the Millennium Development Goals (MDGs) that expired in 2015, include a set of 17 goals and 169 targets involving a broad range of development issues such as fighting poverty and hunger, health coverage, gender equality, quality education, and all aspects of inclusive and sustainable development.
NPC’s National Sustainable Development Review Report 2017 reported significant progress in few of the country’s SDGS up to June 2017.
Poverty (SDG 1): The percentage of Nepali citizens below poverty line has declined from 38 percent in 2000 to 21.6 percent in 2015.
Hunger and Nutrition (SDG 2): NPC reported Nepal’s significant progress in reducing hunger, achieving food security and improving nutrition. Proportion of underweight children, prevalence of stunted children, among other relevant indicators have registered a decline over the last 10 years.
Health and Wellbeing (SDG 3): Nepal has also seen a significant progress in addressing health concerns among its populace. The country achieved a gradual progress in controlling infant mortality rate (64/1000 live births in 2000 to 32 in 2016), number of pregnant women going for antenatal checkups by skilled workforce, proportion of births in health facilities, among others.
Gender Equality (SDG 4): Nepal saw a notable development in terms of ensuring gender equality and women empowerment. A significant improvement in gender parity can be observed across the education institutions, among other areas across the country.
Inclusive Industrialization (SDG 5): Infrastructure development has seen a significant traction in Nepal over the past few years, which is evident in country’s road, rail, air, tourism, communication, industry infrastructure facilities.
Means of Implementation (SDG 17): The report noted a concern in the availability of resources to finance the achievement of SDGs. Highlighting the role of adequate finance, technology, institutions, capacity and partnership vital for SDGs, the report also indicated a positive growth in terms of partnerships among private players, cooperatives, civil society, development partners and the international community for achieving sustainable development.
Towards addressing the existing concerns and achieve SDGs, NPC suggests the country to have strong governance across federal, provincial and local levels.
The Planning Commission also suggests macroeconomic policy reforms for economic growth and bringing in a balance among the poor and marginalized communities.
Pitching on the need for effective management of resources needed for achieving SDGs, the Commission suggests the government to prioritize interventions based on fiscal, financial, managerial, technological, institutional and other capacity constraints.
NPC also suggests the Government of Nepal to design sectoral plans and long-term strategies in line with SDGs, and also integrate SDGs across all levels of Nepali society.