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Developing Asia-Pacific countries still face challenges in meeting social protection agenda: ADB

ManydevelopingcountriesintheAsia-Pacificregionstillface"considerablechallenges,"particularlyincreatingthesustainablefinancingneededforthelocalwelfareprograms,saysanewstudybytheAsianDevelopmentBank(ADB)releasedonWednesday.

SuchfinancingisthebedrockforthesuccessofthesocialprotectionagendasofboththeUnitedNations(UN)SustainableDevelopmentGoals(SDGs)underthe2030AgendaforSustainableDevelopment,andofADB'sStrategy2030.

Butthenewstudy,Asia'sFiscalChallenge:FinancingtheSocialProtectionAgendaoftheSDGs,saystheseAsia-PacificcountrieshaveagoodchanceofachievingthesocialprotectionagendaundertheSDGsiftherightfiscalreformsandpoliciesareinplace.

ThesocialprotectionagendaundertheSDGshasfourdimensions-theprovisionofcashtransfersforincomesecurity,healthservices,educationservices,andotheressentialgoodsandservices.

Thereportrecommendsgovernments,civilsociety,andotherdevelopmentpartnerstoimmediatelystartlong-termfiscalandfinancialplanningforimplementingthesocialprotectionagenda.