BSS, Dhaka :
Bangladesh has shifted its reliance from Overseas Development Assistance (ODA) to domestic resources, but the country requires focusing more on streamlining its efforts to expedite internal resource mobilisation for financing development projects to achieve Sustainable Development Goals (SDGs).
The country also needs to enhance focus on revenue generation, foreign direct investment (FDI), private investment, remittance, export and intra-regional trade for financing development in the evolving scenario.
The recommendation came at the Expert Group Meeting on Asian Partnership in Financing SDGs, organised jointly by Centre for Policy Dialogue (CPD) and Southern Voice (SV) in partnership with the UN Millennium Campaign at Brac Centre Inn in the capital city.
Addressing the inaugural session, planning minister A H M Mustafa Kamal said the government had attached priority to internal resource mobilisation, with developing domestic human resource, generating employment and enhancing intra-regional trade and regional cooperation.
Robert Watkins, UN Resident Coordinator and UNDP Resident Representative in Bangladesh was the special guest at the inaugural session.
Presenting the keynote paper, CPD Distinguished Fellow and Chair of Southern Voice Dr Debapriya Bhattacharya recommended developing a regional monitoring mechanism and an accountability framework to track progress of the SDGs and harmonise the ongoing efforts in financing for development.
CPD Executive Director Professor Mustafizur Rahman made the welcome remarks at the opening session.
Sering Falu Njie, Deputy Director, Policy, UN Millennium Campaign chaired and moderated the session, participated by economists, diplomats and experts from home and abroad.
Falu Njie said the recommendations of this seminar would be referred to the upcoming third conference on Financing for Development (FfD) to be held in Addis Ababa in July 2015.
The participants said that countries in South Asia and South East Asia shifted reliance from ODA to domestic resources for financing development, but yet to strengthen their institutional frameworks for coordination.
Lee Yun-young, Ambassador, Embassy of the Republic of Korea in Bangladesh shared the Korean experience of increasing domestic resource mobilisation and self-reliance in the post-war period.
Among other discussants, Arastoo Khan, Member, Physical Infrastructure Division, Planning Commission observed that the government has favoured increasing private sector investment and the reliance for financing is shifting from ODA to domestic revenue mobilisation. According to Dr Sultan Hafeez Rahman, Executive Director, BRAC Institute of Governance and Development (BIGD), domestic private investment, FDI would play the most crucial role for financing development.
He also observed that contexts in developing countries have changed and it is much harder to make them accept things they do not necessarily find relevant to their interests.
Salman Zaidi, Poverty Global Practice Manager, East Asia and Pacific Region, the World Bank noted that ways for backing the SDGs in country context should include crowding finance from private sector, putting focus on PPPs, investing in data etc.
Dr Simrit Kaur, Professor of Public Policy at University of Delhi noted that South Asians are high on savings and ways should be explored to mobilise the savings for financing.
Asif Ibrahim, Former President, DCCI, urged to scale up public finances and a change in mindset to invest in green businesses. Bangladesh needs access to green funds at a very affordable rate, he added.
Argentina Matavel Piccin, Country Representative, UNFPA felt that financing should be people-centric and the focus should be on its utilisation. She emphasised investment in youth, women and health and human resource.
The floor discussion was also participated by ambassador of Sweden Johan Frisell, former finance minister M Syeduzzaman, visiting fellow of RIS, New Delhi, India Dr Milindo Chakrabarti, IBON International manager, Philippines Jennifer del Rosario-Malonzo, Child Rights Governance Director at the Save the Children Hagar Russ and Additional Secretary of Economic Relations Division Muhammad Alkama Siddiqui.
Bangladesh has shifted its reliance from Overseas Development Assistance (ODA) to domestic resources, but the country requires focusing more on streamlining its efforts to expedite internal resource mobilisation for financing development projects to achieve Sustainable Development Goals (SDGs).
The country also needs to enhance focus on revenue generation, foreign direct investment (FDI), private investment, remittance, export and intra-regional trade for financing development in the evolving scenario.
The recommendation came at the Expert Group Meeting on Asian Partnership in Financing SDGs, organised jointly by Centre for Policy Dialogue (CPD) and Southern Voice (SV) in partnership with the UN Millennium Campaign at Brac Centre Inn in the capital city.
Addressing the inaugural session, planning minister A H M Mustafa Kamal said the government had attached priority to internal resource mobilisation, with developing domestic human resource, generating employment and enhancing intra-regional trade and regional cooperation.
Robert Watkins, UN Resident Coordinator and UNDP Resident Representative in Bangladesh was the special guest at the inaugural session.
Presenting the keynote paper, CPD Distinguished Fellow and Chair of Southern Voice Dr Debapriya Bhattacharya recommended developing a regional monitoring mechanism and an accountability framework to track progress of the SDGs and harmonise the ongoing efforts in financing for development.
CPD Executive Director Professor Mustafizur Rahman made the welcome remarks at the opening session.
Sering Falu Njie, Deputy Director, Policy, UN Millennium Campaign chaired and moderated the session, participated by economists, diplomats and experts from home and abroad.
Falu Njie said the recommendations of this seminar would be referred to the upcoming third conference on Financing for Development (FfD) to be held in Addis Ababa in July 2015.
The participants said that countries in South Asia and South East Asia shifted reliance from ODA to domestic resources for financing development, but yet to strengthen their institutional frameworks for coordination.
Lee Yun-young, Ambassador, Embassy of the Republic of Korea in Bangladesh shared the Korean experience of increasing domestic resource mobilisation and self-reliance in the post-war period.
Among other discussants, Arastoo Khan, Member, Physical Infrastructure Division, Planning Commission observed that the government has favoured increasing private sector investment and the reliance for financing is shifting from ODA to domestic revenue mobilisation. According to Dr Sultan Hafeez Rahman, Executive Director, BRAC Institute of Governance and Development (BIGD), domestic private investment, FDI would play the most crucial role for financing development.
He also observed that contexts in developing countries have changed and it is much harder to make them accept things they do not necessarily find relevant to their interests.
Salman Zaidi, Poverty Global Practice Manager, East Asia and Pacific Region, the World Bank noted that ways for backing the SDGs in country context should include crowding finance from private sector, putting focus on PPPs, investing in data etc.
Dr Simrit Kaur, Professor of Public Policy at University of Delhi noted that South Asians are high on savings and ways should be explored to mobilise the savings for financing.
Asif Ibrahim, Former President, DCCI, urged to scale up public finances and a change in mindset to invest in green businesses. Bangladesh needs access to green funds at a very affordable rate, he added.
Argentina Matavel Piccin, Country Representative, UNFPA felt that financing should be people-centric and the focus should be on its utilisation. She emphasised investment in youth, women and health and human resource.
The floor discussion was also participated by ambassador of Sweden Johan Frisell, former finance minister M Syeduzzaman, visiting fellow of RIS, New Delhi, India Dr Milindo Chakrabarti, IBON International manager, Philippines Jennifer del Rosario-Malonzo, Child Rights Governance Director at the Save the Children Hagar Russ and Additional Secretary of Economic Relations Division Muhammad Alkama Siddiqui.
