KATHMANDU: Deputy Prime Minister Narayan Kaji Shrestha has said the least developed countries (LDCs) are in need of huge investments.
He stressed that such investment is needed in green and resilient industries, education, health, science and technologies, and agriculture.
“More than ever, LDCs need quality, sustainable, and resilient infrastructures for energy, transportation, and digital connectivity,” DPM Shrestha said while addressing the LDCs’ Summit in Doha, Qatar.
He further said we need robust social security and resilient health systems for protecting and securing the well-being of the most vulnerable groups of our society, and for developing and utilizing human resource potentials.
Inclusive and effective institutions DPM Shrestha mentioned that LDCs need inclusive and effective institutions for better governance at home as well as at global level.
The fruit of development generated by globalization has eluded us for decades.
It is true that we have achieved some progress; yet continue to be on the margin of global economic development.
While we are grateful to the assistance we have received, we call on our development partners for scaling up support, as our economies are facing the onslaught of mega global crises, such as the pandemic, conflicts, and climate disasters.
Therefore, the LDCs urge the development partners to fully meet their ODA commitments.
ODA resources must increase along with concrete debt relief measures to overcome the challenges of rising debt and inflation, Shrestha reminded.
According to him, Doha Program of Action is a blueprint of renewed and strengthened global partnership based on the principle of leaving no one behind.
LDCs, therefore, call on our development partners for concrete and substantial support in a spirit of shared responsibility and mutual accountability for the effective implementation of DPOA.
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