Ghana convenes a side event on accelerating actions and innovative financing for the SDGs at SDG Summit
19 September 2023
The Government of Ghana, in collaboration with the Governments of Uganda, Nigeria and Tonga, Copenhagen Consensus Centre, Hilton Foundation, IRC and the UN Ghana Country Team will hold a side event today, 19 September, at the SDGs Summit ongoing in New York.
The event seeks to outline catalytic actions and investments that can significantly accelerate progress towards the SDG targets.
The shocks from the COVID-19 Pandemic, Russia-Ukraine War and Climate Impact have plunged many Africa economies into crises, reversing the little progress made in achieving the SDGs. Today, it is estimated that developing countries need $4 trillion per annum to achieve the SDGs by 2030. This is double of the SDG investment gap of $2.5 trillion required prior to the COVID-19 pandemic. To achieve the SDGs by 2030, developing countries must address the estimated SDG financial gap, which for Ghana stands at $43 billion per annum.
The United Nations Secretary-General, Antonio Guterres recently called on G20 countries for an annual, additional SDG stimulus package of $500 billion to support the SDGs in poor countries. However, in the current global crises, increasing expenditure on the SDGs seem largely implausible.
This side event will discuss how the world and African countries such as Uganda and Ghana could reprioritize innovative interventions and approaches to achieve the SDG targets, with a focus on delivering best for each dollar spent.