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Rimjhim Aggarwal, Piergiorgio M Carapella, Tewodaj Mogues, and Julieth C Pico-Mejia

This paper evaluates the additional spending needed to meet core targets of selected Sustainable Development Goals (SDGs) while accounting for the associated cost to address climate risks. The SDGs under study are those related to human and physical capital development. An additional 3.8 percent of global GDP, or US$3.4 trillion, of public and private spending will be required by 2030 to achieve a strong performance in the selected SDGs while addressing associated climate risks. This includes an increase of 0.4 percent of global GDP (US$358 billion) compared to estimates that do not account for mitigation and adaptation needs within these sectors. LIDCs and SSA experience the highest climate-related cost augmentation relative to GDP, while EMEs (driven by large Asian emerging economies) bear the largest cost in absolute terms.

International Monetary Fund. External Relations Dept.

More than a year after the creation of the New Partnership for Africa’s Development (NEPAD), ministers, governors, and other senior officials from some 20 African countries met in Dakar, Senegal, in mid-December to discuss the challenges confronting the initiative. Participants at the high-level seminar, hosted by the IMF Institute and the Joint Africa Institute, included donor representatives, academics, and staff of regional and international institutions.