Fatima seeks support for graduating countries from LDC

Permanent Representative of Bangladesh to the United Nations Ambassador Rabab Fatima has sought international support for the countries including Bangladesh which have been graduating from the Least Development Country (LDCs) category.

“The graduating and the graduated countries from the LDC categories need extended international support to ensure their forward journey and prevent any possible slide back,” she said.

Fatima made the remarks while delivering a statement at the High-Level presentation of the Organisation for Economic Co-operation and Development (OECD) publication, “Multilateral Development Finance 2020 (MDF)” held in New York on Friday.

Highlighting some silver linings behind the current pandemic, she stressed on the need for reform to remove the persistent weakness of the global development finance system.

She further urged for ensuring additional finance for the LDCs and to ensure their access to low-cost and low-risk sources of funding.

The UN representative noted that the importance of maintaining a balance between development and humanitarian financing of the UN agencies.

Focusing on the importance of involvement of national governments in Sustainable Development Goals (SDFGs) implementation, she urged the OECD countries to leverage innovative financing, STI and emerging technologies for meeting the ensuing resource gaps.

Rabab Fatima also underscored the important collective efforts for eradicating of the climate vulnerabilities of the LDCs and other vulnerable countries.

The report, published by the OECD, highlighted evolution of multilateral development finance system, their sources of funding and their pattern of financing throughout the world.

It also illustrated various challenges faced by the system and the possible ways that can be pursued for their recovery.

The event was co-chaired by the Permanent Representatives of Switzerland and Indonesia.

Among others, Permanent Representatives of Member States, Director OECD, UN Assistant Secretary General, high-level dignitaries and experts attended the event.

(Source: BSS)