The Group of Least-Developed Countries has urged the international community to take urgent action on five priority areas -- concessional finance, debt relief, climate finance, market access and technology transfer -- to help the world’s poorest nations achieve the Sustainable Development Goals (SDGs) and ensure smooth LDC graduation.
Presenting the LDC Group’s priorities at the High-Level Segment of the UN Economic and Social Council (ECOSOC) General Debate in New York on Monday, Bangladesh Prime Minister’s Finance and Planning Adviser, Dr Rashed Al Mahmud Titumir, warned that mounting debt burdens, climate shocks, shrinking fiscal space and declining development assistance are putting sustainable development at risk.
Speaking on behalf of the 44-member LDC Group, Dr Titumir said progress towards the 2030 Agenda for Sustainable Development remained “alarmingly off track”, with LDCs facing the greatest challenges.
As the group’s first priority, he calls for a significant increase in predictable, affordable concessional financing to address mounting debt vulnerabilities and boost investment in education, healthcare, productive capacity, resilient infrastructure, job creation, poverty reduction, social protection and essential services.
Second, he urges reforms to the international financial architecture to better reflect the structural vulnerabilities of LDCs through expanded access to concessional resources, debt-suspension mechanisms, sustainable debt solutions and more equitable financing arrangements.
Third, he stresses that climate finance must be predictable, accessible and commensurate with countries’ vulnerabilities, while calling for greater support for adaptation, resilience-building, energy transition and the Loss and Damage Fund, alongside increased investment in clean energy and resilient infrastructure.
Fourth, the LDC Group calls on the international community to preserve and expand market access for LDC exports by reversing protectionist measures and ensuring transparent, simplified and development-friendly rules of origin.
Fifth, Dr Titumir underscores the need for stronger international cooperation to bridge digital and technological divides through enhanced technology transfer, capacity-building and digital transformation.
He reaffirms the group’s commitment to implementing the 2030 Agenda and the Doha Programme of Action (DPoA), describing them as the key frameworks for advancing sustainable development and ensuring smooth graduation from LDC status.
The adviser has said persistent structural vulnerabilities, worsening climate change, widening digital divides and limited access to affordable finance continue to hamper development efforts across LDCs, threatening the DPoA’s goal of enabling more countries to achieve sustainable and irreversible graduation by 2031.
He notes that 14 LDCs are currently at different stages of the graduation process and continue to require sustained international support.
Bangladesh and Nepal, he mentions, have sought a three-year extension of their preparatory period for graduation until November 2029 due to unprecedented political, macroeconomic, environmental and external shocks.
Describing next year’s Mid-Term Review of the Doha Programme of Action in Doha as a critical opportunity to accelerate implementation of global commitments, Dr Titumir urges heads of state and government, ministers, international financial institutions and development partners to ensure the meeting delivers “transformational and implementable outcomes”.
“The LDC Group stands ready to work with all partners to ensure that the Mid-Term Review becomes a turning point, one that restores momentum, rebuilds trust and delivers on the promise of sustainable development, leaving no one behind.”
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