https://sputniknews.in/20230612/pm-modi-calls-for-rising-investment-in-sdgs-amid-4-trillion-funding-gap-2435648.html
PM Modi Calls for Rising Investment in SDGs Amid $4 Trillion Funding Gap
PM Modi Calls for Rising Investment in SDGs Amid $4 Trillion Funding Gap
Sputnik India
Prime Minister Narendra Modi on Monday urged the G-20 nations to increase investments in the meeting the Sustainable Development Goals (SDGs) targets amid a soaring funding gap in recent years.
2023-06-12T13:14+0530
2023-06-12T13:14+0530
2023-06-12T13:14+0530
india g-20 presidency
narendra modi
g-20
s. jaishankar
sustainable developments goals (sdg)
debt restructuring
climate change
big data
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On Monday Indian Prime Minister Narendra Modi urged the G20 nations to raise investments for meeting the SDGs targets amid the soaring funding gap in recent years. Over 200 delegates from G20 countries, 9 guest nations and 10 international organizations are participating in the two-day meeting, chaired by Indian Foreign Minister S. Jaishankar.India's leader said that development remained the “core issue” for the Global South, which has been impacted by COVID-related disruptions and a food, fuel, and fertilizer crisis caused by geopolitical tensions.Further, Prime Minister Modi offered India’s model of developing more than 100 backward districts that have considerably improved the quality of life recently, as he mentioned.Fragmentation of SDGs Priorities Not in Global Interest, India SaysAddressing the inaugural session, ‘Multilateralism: Collective Actions for Accelerating Progress towards SDGs’, Indian Foreign Minister Jaishankar warned against the fragmentation of SDG priorities.Jaishankar highlighted that amid a regression in the SDG agenda, New Delhi has put forward a “seven-year action plan” for accelerating progress on the SDGs.“The action plan not only stimulates the G20 commitment to the development agenda but also puts forward transformative actions on the three core agendas,” he stated.He enumerated these: (1) access to data for expediting development, (2) investments in women-led development, and (3) securing global energy transition.Global South Priorities Not Getting Adequate Attention, Indian Officials SayIndian officials have told Sputnik that the priorities of the Global South, including debt distress, rising fuel, and energy prices, haven't received adequate attention in the global decision-making discourse as compared to concerns of the developed nations.They explained that the Development Ministers' Meeting was an effort to build on the outcomes of the 'Voice of the Global South Summit' hosted by India under its G20 presidency. Officials said that the 7-year action plan announced by Foreign Minister Jaishankar was significant, especially the aspects related to non-discriminatory access to data.
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Dhairya Maheshwari
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varanasi development ministers meeting, g20 meeting, india g20 presidency, g20 meeting
varanasi development ministers meeting, g20 meeting, india g20 presidency, g20 meeting
PM Modi Calls for Rising Investment in SDGs Amid $4 Trillion Funding Gap
Only 12 percent of the Sustainable Development Goals (SDGs) are en course to meet the 2030 target, according to the UN. The funding gap to attain the SDGs has soared to $4.2 trillion this year, almost double that of pre-COVID levels. Discussions on SDGs are the main theme of the ongoing G20 Development Ministers Meeting in Varanasi city.
On Monday Indian Prime Minister Narendra Modi urged the G20 nations to raise investments for meeting the SDGs targets amid the soaring funding gap in recent years.
“Our efforts must be comprehensive, inclusive, fair, and sustainable. We should increase investment in fulfilling the SDGs and find solutions to address the data risks faced by many countries. Multilateral financial institutions should be reformed to expand the eligibility criteria, ensuring that financing is accessible to those in need,” Modi stated during the G20 Development Ministers Meeting.
Over 200 delegates from G20 countries, 9 guest nations and 10 international organizations are participating in the two-day meeting, chaired by Indian Foreign Minister S. Jaishankar.
India's leader said that development remained the “core issue” for the Global South, which has been impacted by COVID-related disruptions and a food, fuel, and fertilizer crisis caused by geopolitical tensions.
“I strongly believe that it is our collective responsibility not to let the Sustainable Development Goals fall behind. We must ensure that no one is left behind. It is imperative for this group to send a strong message to the world that we have an action plan to achieve this,” Modi said.
Further, Prime Minister Modi offered India’s model of developing more than 100 backward districts that have considerably improved the quality of life recently, as he mentioned.
“Our experience shows that they have now emerged as the catalysts of growth in the country. I urge the G20 Development Ministers to study this model of development. It may be relevant as you work towards Excel Rating Agenda 2030,” he said.
Fragmentation of SDGs Priorities Not in Global Interest, India Says
Addressing the inaugural session, ‘Multilateralism: Collective Actions for Accelerating Progress towards SDGs’, Indian Foreign Minister Jaishankar warned against the fragmentation of SDG priorities.
“Unfortunately, since its adoption in 2015, we've witnessed a lack of political incentives and the fragmentation of international priorities, where some goals are considered more important than others. Such cherry-picking is not in our collective interest,” Jaishanakar said.
Jaishankar highlighted that amid a regression in the SDG agenda, New Delhi has put forward a “seven-year action plan” for accelerating progress on the SDGs.
“The action plan not only stimulates the G20 commitment to the development agenda but also puts forward transformative actions on the three core agendas,” he stated.
He enumerated these: (1) access to data for expediting development, (2) investments in women-led development, and (3) securing global energy transition.
Global South Priorities Not Getting Adequate Attention, Indian Officials Say
Indian officials have told Sputnik that the priorities of the Global South, including debt distress, rising fuel, and energy prices, haven't received adequate attention in the global decision-making discourse as compared to concerns of the developed nations.
They explained that the Development Ministers' Meeting was an effort to build on the outcomes of the 'Voice of the Global South Summit' hosted by India under its G20 presidency.
Officials said that the 7-year action plan announced by Foreign Minister Jaishankar was significant, especially the aspects related to non-discriminatory access to data.
