深度-世界经济论坛-可持续发展目标国家融资路线图：加纳（英文）-2021.6-65页_2mb

Summary of the Ghana Country Financing Roadmap for the SDGs

Core Content

The Ghana Country Financing Roadmap (CFR) for the SDGs is a country-led initiative designed to address the significant financing gap for achieving the Sustainable Development Goals (SDGs) by 2030. The report outlines the challenges and opportunities for mobilizing resources through public-private collaboration and highlights the importance of innovative financing mechanisms in supporting Ghana’s national development priorities.

The Ghana CFR is a joint effort between the Government of Ghana and the World Economic Forum's Sustainable Development Investment Partnership (SDIP), with support from the European Union and the Ministry of Foreign Affairs of Denmark. It aims to create a multistakeholder platform to align various actors in the country—public institutions, investors, development finance institutions, and others—to foster sustainable and impactful financing for the SDGs.

Main Points

1. Ghana Overview

• Population: 30.78 million (IMF)
• GDP (current prices, 2020): $68.42 billion
• GDP per capita (current prices, 2020): $2,220
• GDP growth: Relatively steady at over 6% before the pandemic, but dropped to -0.9% in 2020 due to the pandemic's impact. It rebounded to 5% in 2021.
• Domestic revenue (2015–2020): Increased from $9.5 billion in 2015 to $9.8 billion in 2020, despite the economic challenges.
• Domestic revenue-to-GDP: Declined from 20.5% in 2015 to 19.3% in 2020, raising concerns about the sustainability of SDG financing.

2. Ghana and the SDGs

• Ghana is committed to achieving the SDGs and has integrated them into its national policy and development planning.
• The Coordinated Programme of Economic and Social Development Policies (CPESD), 2017–2024, and the Ghana Beyond Aid Charter serve as the foundation for Ghana's SDG strategy.
• The Voluntary National Report (VNR) process in 2019 highlighted progress in some SDGs, but slower progress in others.
• The SDG budget allocation in 2019 was GH¢51 billion ($9.3 billion), representing 73% of total government expenditure.

3. Addressing the SDG Financing Gap with the CFR

• The total 10-year cost of achieving the SDGs in Ghana is estimated at $522.3 billion, with an annual average of $52.2 billion.
• The total 10-year SDG financing gap is $431.6 billion, with a $43 billion gap in 2021.
• The Government of Ghana is the largest financier of SDGs, but it cannot bridge the gap alone. It needs to leverage domestic resources and ODA three times through de-risking actions and innovative financing mechanisms to attract private capital.

4. Key Sectors Targeted by the CFR

• Sustainable Infrastructure:

  • Estimated annual investment needs: $7 billion over the next 10 years.
  • Identified barriers:
    • Non-financial: Investment climate instability, lack of bankable projects, capacity limitations, and land acquisition challenges.
    • Financial: High risk for investors, limited domestic revenues, and currency exposure.
  • Proposed solutions:
    • Establish a Project Preparation Facility (PPF) to improve project readiness.
    • Develop a priority SDG infrastructure project list.
    • Implement SDG first-loss funds and SDG bonds.
    • Strengthen coordination among stakeholders to improve transparency and efficiency.

• Micro, Small, and Medium Enterprises (M/SMEs):

  • Represent 85% of private sector businesses and contribute 70% of GDP.
  • Estimated financing need: $6.1 billion.
  • Identified barriers:
    • Non-financial: Informality, lack of data, and perceived lack of managerial skills.
    • Financial: High interest rates, collateral requirements, and limited access to finance.
  • Proposed solutions:
    • Create economies of scale in M/SME financing.
    • Develop a comprehensive M/SME database.
    • Explore tax incentives, SDG bonds, and blended finance mechanisms.
    • Set up working capital and capital expenditure facilities.

5. Institutional Arrangements

• The SDGs Advisory Unit within the Office of the President plays a central role in coordinating the implementation of the SDGs.
• The Ministry of Finance and UNDP are key partners in developing the Integrated National Financing Frameworks (INFFs).
• The CEOs Advisory Group was established to rally private sector support for SDG implementation.

Key Information

• The CFR is a multistakeholder, country-led initiative to create a supportive ecosystem for sustainable development financing.
• The SDGs Delivery Fund and Green Fund are two innovative funding mechanisms launched by the private sector to support SDG implementation.
• The Ghana Beyond Aid vision aims to transition the country into a prosperous, self-reliant economy through trade and investment, rather than aid.
• The CFR seeks to align public and private actors and inspire action to address the SDG financing gap.
• The SDIP and Danida support the initiative, and the European Union provides financial backing.
• The report includes detailed barriers and solutions for both sustainable infrastructure and M/SME financing, as well as a breakdown of SDG funding sources and an accountability matrix.

Conclusion

The Ghana Country Financing Roadmap represents a strategic and collaborative approach to achieving the SDGs. It highlights the need for innovative financing, de-risking mechanisms, and strong public-private partnerships to bridge the $431.6 billion financing gap over the next decade. By aligning the efforts of government, private sector, and international partners, the CFR aims to accelerate progress towards the SDGs and create a more resilient and prosperous Ghana for current and future generations.