DR POSITION PAPER FOR GLOBAL GOALS MODEL UNITED NATIONS CONFERENCE 2021 Delegates Name : Subhadeep Patra Country : Bangladesh Council ; UNDP Topic : Addressing the effects of the COVID -19 pandemic on meeting the sustainable development goals by 2030 Bac ROUND Bangladesh is a South East Asian natural beautiful middle income country. Its economy is flourishing rapidly. In the last decade immense development has been noticed in every sphere of life including women empowerment. However, incidence of COVID-19 Pandemic has influenced every sector of Bangladesh badly. COVID-19 is the pandemic disease declared by World Health Organization (WHO) on 11th March 2020 [1] which is potentially severe acute respiratory infection caused by a novel evolving severe acute respiratory syndrome corona virus2 (SARS-CoV-2). The virus was identified as the cause of an outbreak of pneumonia of unknown cause in Wuhan City, Hubei Province, China, in December 2019. The clinical presentation is that of a respiratory infection with a symptom severity ranging from a mild influenza like illness, to a severe viral pneumonia leading to acute respiratory distress syndrome that is potentially fatal. Globally 199 countries are reported to have the pandemic going on and the situation is evolving rapidly with global case counts and deaths increasing each day. The World Health Organization rates the global risk assessment as very high and community transmission is occurring in many countries, but it is uncertain how easily the virus spreads between people. Bangladesh is also declared the COVID-19 infection reported from Directorate General of Health Service on daily basis with 48 confirmed case and 5 death having community transmission (dated 28th March, 2020) [2]. However, COVID-19 ‘community transmission and death tolls are the burning issues of the present world. So, the researchers designed this study to explore an over view on COVID-19 situation in Bangladesh as of 14 May, 2020, on the basis of secondary literature review. Bangladesh is one of the high-risk countries of the COVID-19 pandemic and its consequent losses due to social and economic conditions. There is a significant possibility that economic stagnation would push a large population back into poverty. In the present study, we have reviewed the chronology and epidemiology of COVID-19 in Bangladesh and investigated the country’s vulnerabilities concerning COVID-19 impacts. We focused primarily on four areas of vulnerabilities in Bangladesh: The garment industry, urban slums, social exclusion, and pre-existing health conditions. The result implicated that the country would take time to recover its economy due to the vulnerabilities mentioned above, and many people in Bangladesh would not be able to tolerate the current situation because they do not haveenough reserves to do so. We concluded that if at least some Sustainable Development Goals (SDGs) had been at least partly attained, the n would not be as dire as it is now. Based on this conclusion, we suggested a tolerance capacity to indicate how long people can survive without outside support. It is a holistic assessment rather than the indicators presently defined in each SDG, but it should be attained through a harmonized approach to SDGs. COUNTRY POSITION AND PAST ACTIONS, ‘These challenges have also created opportunities and highlighted a myriad of good practices. Bangladesh, being the global laboratory of development innovation, has brought various stakeholders together. As one of the leading ready-made garment producers in the world, it has mobilised to make personal protection equipment for its population and for exports. The civil society has come together with its own set of strategies to support the government. The country has implemented a new scheme whereby frontline responders are being provided special insurance and incentives for their dedication. Countries across the world should look into replicating it. Bangladesh is also set to increase its digital financial services and transfer cash aid to more than three million poor people. The Bangladesh military’s research wing has already started making low-cost ventilators, which would otherwise be imported at much higher price. The government has set-up platform-helplines as go-to resource for Covid-19 related information or support. Bangladesh’s dedicated coronavirus website (with a surprisingly helpful chatbot) and helpline have been instrumental is seeking out help for people. Dozens of corporations and well-to-do folks are chipping in to provide some relief in the short run while the government and development partners work out long-term solutions. PROPOSED SOLUTIONS 1. Creation of a Long-term Development Fund: Mobilization of Domestic Sources: The agenda, with a capital requirement of USD 964.72 billion, additionally has two goals — mobilizing unprecedented volumes of resources and leaving no one behind. The government and other UN agencies are envisioning an average sectoral contribution of 34%, 41%, and 15% from public, private and external sources respectively from 2020 to 2030. In order to increase private sector participation in SDG financing, the government needs to carefully monitor the changing paradigm of development financing. Domestic untapped micro-savings can be one of the sources for financing development budget. Only 4% of the domestic formal savings are being invested in infrastructure at present from formal savings, whereas there are 39% of the adults who aresaving through informal channels.Untapped pockets like remittances, savings, zakat and wagf funds can be tapped to finance SDG achievements . Utilizing the Untapped Savings Market: In 2019, the formal savings by Bangladeshi citizens stood at USD 54 Bn which will rise twofold within 2030 in tandem with the growth of the economy. Citizens, belonging to the informal economy, saved USD 36 Bn in 2019. Growth rates for both channels are estimated to drop to 2% till 2023 in the view of COVID-19 and economic recession. Regardless, citizens are forecasted to save up to USD 88 Bn by 2030 as the economic downturn might force the middle and affluent class consumer to spend less and save more. Moreover, last year’s remittance inflow of USD 18.32 Bn was kept excluded from the formal channel. If these untapped resources can be partially aggregated and deployed through a digital financial value chain from 2020 onwards, a yearly flow of USD 45 Bn incremental can be generated to finance SDGs. Ensuring Equitable Growth through Impact Investment: To meet the ambitious SDGs in post-pandemic Bangladesh, the country needs more foreign borrowings to build up the country’s forex reserve and focusing on impact investment can be just the right way to do it, It can be a great tool to reduce the socio- economic gap and move the country closer to meeting the SDGs. The neighboring country India has displayed successful and sustainable deployment of impact capital as it received almost USD 5 billion+ impact capital from more than 50 investors over the decade. Under Alternative Investments License, “Impact Funds” has been acknowledged as a separate investment type; however, to further encourage impact investing, the formation of Social Impact Bonds is of utmost importance. This would satisfy the need for the public good by which private capital mobilization would be facilitated and measurable impact will be witnessed. In addition, proper guidelines to qualify as an impact enterprise and regulations for financial institutions would further ease the process Of getting into impact investments.BIBLIOGRAPHY. 1. Virtual press conference on COVID-19 (WHO) 2020 https://www.who int/docs/default-source/coronaviruse/transcripts/who-audio- smergencies-coronavirus-press-conference-full-and-final- 11mar2020.pdf?sfursn=cb432bb3 2 2, (2020) National guidelines on clinical management of coronavirus disease 2019 (Covid-19) (WHO) Disease control division, Directorate general of health services, Ministry of health & family welfare, Government of the people's Republic of Bangladesh. https://clinmedjournals.org/articles/tjrdd/international-journal-of-rare-diseases-and- disorders-lirdd-3-019.php?jid=iirdd# 3. 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