The Government of Sri Lanka in partnership with United Nations Development Fund (UNDP) in Sri Lanka announced the launch of the Sri Lanka SDG Investor Map (the Map), a market intelligence tool that seeks to direct private capital where Sri Lanka’s Sustainable Development Goals (SDG) priorities, Government policy and market opportunity intersect, as the country seeks to rebuild its economy sustainably, using the SDG framework as its guide. The methodology for the Map was created by UNDP SDG Impact. It is estimated that $2.5 trillion per year is required to close the SDG financing gap in developing countries alone. The Map will be a crucial tool to accelerate Sri Lanka’s recovery pathway and build forward better.
Hanaa Singer–Hamdy, Resident Coordinator- United Nations in Sri Lanka said a whole-of-society approach is needed to mitigate the immediate impacts of Sri Lanka’s economic crisis and to assure the country’s long-term sustainable development. The Sri Lanka SDG Investor Map offers a compelling pathway for private sector entities to increase the alignment of their investments with the SDGs.
“Now, at a time of intense national need, the Sri Lanka SDG investor map, a market intelligence tool, will guide the private capital to where it should be. Even before the pandemic, Sri Lanka, like most other countries, was really on a challenging task to realise the SDG Agenda 2030.”
She said further that COVID- 19 has widened the financial gap considerably because it shifted funds towards response and recovery efforts from the global goals. And it also added pressure on the Sri Lankan economy that has caused public debt to decline sharply.
“We don’t have to look far to see the toll of the economic crisis, savings and in terms of the food and medicine shortage which affects millions of our Sri Lankan citizens today.”
She said further that the SDGs were designed to ensure all people can live prosperous and fulfilling lives and to ensure that no one is left behind. She pointed out that a massive effort is now needed to bring them back on course and to ensure Sri Lankan long- term sustainable development.
“That effort must involve all of us, the government, the development partner and the civil society. Today, as we launch the SDG investment map, I want to talk about the way forward. I think the role of the private sector is to help us navigate our way out of the crisis and contribute to a sustainable future for all Sri Lankans.”
She said further that economic recovery and financing of the SDG requires resources from across the whole spectrum.
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