Wednesday, March 29, 2023

Least Developed Countries pledge US$557 million in development aid

The Least Developed Countries (LDC) conference closed today in Doha, the Qatari capital, with a pledge to donate more than US$557 million for the States involved to achieve the Sustainable Development Goals (SDGs) while facing different global adversities .

“Achieving the Sustainable Development Goals in the Least Developed Countries is a litmus test to achieve the 2030 Agenda in general, among other things guaranteeing that no one -and no LDCs- is left behind”, said the deputy secretary general of the Organization of Nations United Nations (UN), Amina Mohammed.

“For this reason, the Doha Program of Action must be considered a vehicle for accelerating the SDGs,” he added, referring to the commitment of the 46 participating countries to comply with said program, a ten-year plan for these States to once again be in a position to achieve the SDGs.

The plan includes actions to overcome the obstacles arising from crises such as covid-19, climate change and the worsening of inequalities and promote projects to improve biodiversity and the fight against malnutrition until the development of resilience in LDCs with a fund of more than US$557 million.

This fund arises from the donations promoted by different countries and international organizations, among which the financial package of US$60 million from Qatar stands out, of which US$10 million will be allocated to support the application of the Doha Action Program and another US$50 million to help build resilience in LDCs.

Likewise, Germany allocated €200 million (US$211 million) in new funds to finance LDCs in 2023, while Canada announced US$59 million to supply vitamin supplements in 15 of these states and for ecosystem conservation in Burkina Faso.

Added to this is the announcement by the European Commission of cooperation agreements to promote sustainable investments in Africa for a total of more than €130 million (US$137 million), and the new Green Climate Fund project with US$80 million to offer green guarantees to LDC companies and reduce the cost of capital.

In addition, the United Nations World Tourism Organization announced a new Tourism Development Fund for LDCs, endowed with €10 million (US$10.5 million) and supported by the TUI Care Foundation, which will invest until 2030 to support development sustainable in LDCs.

“The commitments made this week are a true embodiment of global solidarity and partnership and will pave the way for a new era of international cooperation,” said Rabab Fatima, Secretary General of the Conference and UN High Representative for the Least Developed Countries. , Landlocked Developing Countries and Small Island Developing States.

“The result will be that more Least Developed Countries will achieve the goal of graduation and a more prosperous and sustainable future,” he added.

Presidents and leaders from 33 African and 12 Asia-Pacific countries and Haiti in the Caribbean met with the private sector, civil society, parliamentarians and youth to promote new ideas, garner new pledges of support and drive compliance with the agreed commitments, through the Doha Action Program, adopted in 2022.


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