The year of 2020 opened the Decade of Action, a global effort to speed up delivery of the Sustainable Development Goals by 2030. However, 2020 was also a year of global crisis. The human and socioeconomic loss caused by the COVID-19 pandemic further slowed progress toward the SDGs. It threatened to undo previous gains, further highlighting the urgency of getting countries back on track to achieve the 2030 global agenda.
Transcript
The year of 2020 opened the Decade of Action, a global effort to speed up delivery of the Sustainable Development Goals by 2030. However, 2020 was also a year of global crisis. The human and socioeconomic loss caused by the COVID-19 pandemic further slowed progress toward the SDGs. It threatened to undo previous gains, further highlighting the urgency of getting countries back on track to achieve the 2030 global agenda.
Before the pandemic, developing Asia was making significant progress toward the SDGs, particularly on health and well-being. The region also made some progress in alleviating poverty and hunger, promoting quality education, and reducing inequality. However, these gains were not enough to meet SDG targets on time. The pandemic is further widening these gaps and highlighting the inequality being felt by millions of those who are living below or near the poverty line. Low-income people were hit most—as they are more likely to work in industries badly hurt by lockdowns. Simulations show that the pandemic pushed about 80 million more people into extreme poverty across the region than if the pandemic had not occurred. Now, more than ever, we must work harder to recover from the effects of the pandemic while redoubling efforts to speed up progress on the SDGs.
The pandemic also showed that global value chains can both amplify and dampen shocks. As usual, the impact varies across Asia-Pacific economies. On the one hand, in some countries, greater participation in value chains is associated with a larger negative economic impact. On the other hand, in countries where much higher rates of value chain participation were observed, the relationship seems to reverse—revealing that the greater openness ensured less negative economic impact and more positive prospects for speedier recovery.
The pandemic also underscored the importance of collecting timely data. Prompt information is crucial for a swift and proper crisis response. The need to invest in agile, resilient information systems by enhancing national data and statistics systems is critical. Several national systems in the region responded to the crisis by adopting innovative data collection methods that helped deliver accurate information faster. This enables evidence-based actions to be delivered on time, at the right place, and in a targeted manner.
Data and statistics have never been more crucial for good policymaking. ADB’s Key Indicators for Asia and the Pacific, one of our flagship publications, presents vital data on development issues across the region. For over 50 years, Key Indicators has provided this information to policymakers, development practitioners, government officials, researchers, students, media, and the public.
Let me close by emphasizing that we cannot overstate the importance of detailed, accurate, and informative data for leaving no one and no country behind—both in the time of pandemic, and post-pandemic recovery.
Thank you.
