Ulaanbaatar
MNT 126 Trillion Required for Mongolia to Achieve the SDGs
Society
Ulaanbaatar,
June 12, 2023 /MONTSAME/. In its bold commitment,
Mongolia has pledged to implement the 17 Sustainable Development Goals (SDGs)
by 2030, and estimated funding of MNT 126 trillion, which is equivalent to 18
percent of Mongolia's GDP will be required to achieve the targets.
Recognizing the need for diverse funding sources, the implementation of the SDGs in Mongolia will rely not only on the state budget but also on investments from the private sector. At the National Workshop on Effective Governance for Sustainable Development in Mongolia, being organized by the National Academy of Governance and MONTSAME, Mongolian National News Agency, a consultant of United Nations Development Programme Mongolia highlighted that specifically, sectors such as mining, agriculture, and the environment are expected to play a crucial role and additional financial support will be required for areas including industry, innovation, renewable energy, health, quality education, and climate change.
The workshop is organized in collaboration with the
United Nations Department of Economic and Social Affairs and with the support
of the UN Resident Coordinator Office in Mongolia and the UNDP in
Mongolia on June 7-13, discussing specific topics in small groups and
exchanging ideas and information on practical examples and lessons learned from
other countries.
Emphasizing the importance of a comprehensive approach that
is being implemented in over 80 countries, SDGs implementation experts advocate
for the investment of over 20 percent of the GDP during the initial five years
of the implementation. The consultant stressed the need for conducting
thorough research, diagnostics, financial and control analysis, and evaluation.
Furthermore, preparing and nurturing human resources while consistently
carrying out research and diagnostics are deemed essential steps. By boosting
the determination of development priorities and improving coordination,
Mongolia aims to positively impact the implementation of the SDGs.
UNDP Mongolia also underscores the significance of strategic adjustments and coordination in achieving sustainable development goals, noting that a strategy for the implementation until 2025 has already been developed, however, there is a need to revise the strategy for up to the year 2030.
