Many developing countries in the Asia-Pacific region still face "considerable challenges," especially in creating the sustainable financing needed for the local welfare programmes.

Illustrative image (Source: Internet)

This is stated in a new study by the Asian Development Bank (ADB), which was released on 13 February.

Under the 2030 Agenda for Sustainable Development, and of ADB's Strategy 2030, such financing is the bedrock for the success of the social protection programmes towards UN Sustainable Development Goals (SDGs).

The new study, titled “Asia’s Fiscal Challenge: Financing the Social Protection Agenda of the SDGs”, Asia-Pacific countries have a good chance of achieving the social protection agenda under the SDGs if they have right fiscal reforms and policies.

The study recommends governments, civil society, and other development partners to immediately start long-term budget and financial planning for implementing the social protection programme.

(Source: VNA)