The missing development trillions: how you would fund the SDGs

The missing development trillions: how you would fund the SDGs

More than 50 people shared their ideas on where the sector will find over $3tn a year to fund the sustainable development goals. Here’s a selection of our favourites

A girl looks at food served to her for free at a government-run school in Bangalore, India
A girl looks at food served to her for free at a government-run school in Bangalore, India Photograph: Aijaz Rahi/AP

‘Resolving protracted crises is the only way out - it’s a blackhole for funding’

Sudhanshu S. Singh, chief functionary, Humanitarian Aid International, India
There is only one way out - global powers should try to resolve protracted crises which have become a blackhole for humanitarian funding. The conflicts absorb a major chunk of funding at the cost of the needs of people affected by natural disasters as well as development needs.

‘Create a global SDG tax’

Debabrata Nayak, research associate, Siddha Development Research and Consultancy
In every country that committed themselves to the SDGs, we could ask each member of the public to pay a small amount to help fund the goals e.g. two rupees per person in India. Suppose they were able to generate R1000 per day, then we should invest 60% of that on India itself and the rest should be deposited with the UN.

‘Remove restrictions on aid’

Hannah Mitchell, doctor

Central to SDG 3 is the aim of reducing the global maternal mortality ratio to less than 70 per 100,000 live births. Providing access to safe abortions would be an easy first step to take towards reducing maternal mortality rates (10% of all maternal deaths are linked to unsafe abortions) but restrictions on donor aid such as the Helms Amendment, which states that no American foreign aid can be spent on provision of safe abortion for women, are preventing funding getting through. This is just one example of a funding restriction preventing aid from getting to the most vulnerable.

‘Leverage ODA to mobilise other sources of public and private finance’

Diels Herman, programme officer, Flemish Interuniversity Council - University Cooperation for Development (VLIR-UOS)
We need to increase domestic resource mobilisation, reduce illicit financial flows, and better leverage Official Development Assistance to enhance its ability to mobilise other sources of public and private finance. How can it be used to create a better investment climate for greater private investment and foster development of domestic capital markets in developing countries?

‘Scrap the debt of governments who use their national funds for the SDGs’

Fredrick Kamusiime, trade advisor, Commonwealth Secretariat, Rwanda
Public-private partnerships, using pension funds, hedge funding, and effective tax policies will all help raise money. But developing countries must be in the driving seat in the implementation of the SDGs, and for governments willing to dedicate their national funds to implementation of key SDGs (such as those involving climate change), their equivalent debt should be scrapped.

‘Make Corporate Social Responsibility policies compulsory for businesses’

Archana Sinha, Director, Health and Nutrition Initiative, Ashoka Innovators for the Public, India
In India, the 2013 Companies Act requires every organisation with a certain net worth to spend at least 2% of its average net profit on CSR activities. India is the first and only country to have done this. Companies are still figuring out how to allocate these funds, but the potential is huge.

‘Increase tax revenues raised from the extractive industries’

Alexandra Malmqvist, communications coordinator, Publish What You Pay
We need to look seriously at tax revenues to contribute to a country’s own sustainable development, in particular revenues raised from the extractives industries. However, with current agreements and power asymmetries, developing countries will struggle to raise adequate funds despite being resource-rich nations.

‘India and Israel have demonstrated billions can be raised through diaspora bonds’

Benjamin Scheder, graduate student, University of Cambridge
Expat communities could be vital in providing crucial financing through diaspora bonds, for example. India and Israel have demonstrated that through this process billions can be raised. Diaspora bonds would not only provide additional funds, but also increase the interest and involvement of citizens in how the money is spent, increasing accountability and tackling corruption.

‘It’s not just about finding the money, it’s about ownership of the process’

Guy Norman, head of evaluation and research, Water & Sanitation for the Urban Poor

The financing gap in the water and sanitation sector alone has recently been estimated at around $27 bn per year over the SDG period. Big number. In lower-middle-income countries, domestic resources are going to have to play an increasing role, but it’s not just about finding the money, it’s about ownership of the process. Commercial thinking is needed: water and sanitation utilities need to function as viable businesses, providing services that people want to pay for. The second piece of the puzzle is massively increased government investment, which was what historically helped Europe and US achieve water and sanitation services for all. There are several ways forward, ranging from improved tax collection capacity at the national level, through to improved systems for allocating and efficiently spending public money on water and sanitation, to local tax revenue systems (for example, redistributive sanitation tariffs collected through water bills).
