Effective Development Co-operation in the Face of COVID-19

According to the 2020 SDG Report, governments and other actors remain off track in reaching the SDGs and in mobilising the necessary resources. The current COVID-19 global pandemic only adds to the challenges for the international community and risks undoing hard-won development gains and undermining the ability to achieve national development plans and the SDGs by 2030.Socio-economic impacts are already being felt and have long-lasting consequences, possibly reversing decades of progress in poverty eradication and sustainable development, pushing up to 71 million people into extreme poverty in 2020, according to the World Bank. The crisis is also already having impacts on economic systems and financing for development, including on remittances, capital outflows depressing tax revenues, and high public debt.