Bangladesh seeks efforts to address challenges of LDCs

Bangladesh has said a number of Least Developed Countries (LDCs) are now in the pipeline to graduate and their challenges should be taken into consideration so that they do not regress to the LDC category.

“There must be focused and time-bound support measures for the graduating and the graduated LDCs,” said State Minister for Foreign Affairs M Shahriar Alam.

He made the remarks while addressing the annual ministerial meeting of the LDCs held at the UN headquarters on Wednesday.

Mr Shahriar Alam laid emphasis on more LDC-focused discussion at the United Nations (UN), particularly on bolstering development cooperation in the areas that are critical for the LDCs.

“We need to have a more LDC-focused discussion at the UN,” said the State Minister for Foreign Affairs.

He said the LDC group must play a proactive role in highlighting and securing its collective interests at the 73rd UN General Assembly for the full, effective and timely implementation of the Istanbul Declaration and Programme of Action (IPOA).

Bangladesh completed its term as the chair of the Global Coordination Bureau of the LDCs on Wednesday, according to UNB news agency.

UNDP Associate Administrator Tegegnework Gettu reaffirmed UNDP’s commitment to accelerating the development progress by LDCs, towards the implementation of the 2030 Agenda.

He said LDCs need not only fast-track GDP growth but also ensure that growth is inclusive and sustained.

“For growth to be inclusive, a significant reduction in income inequality will have to go along with faster growth rates. In addition, LDCs have to snap out of the boom and bust cycle of high growth volatility that affects so many countries,” said Tegegnework Gettu.