The LDC Future Forum’s third edition commenced on Monday, focusing on how the 44 least developed countries (LDCs) can enhance their resilience against systemic shocks including the impacts of climate change and other global crises. The goal is to develop actionable strategies aimed at fostering sustainable development and strengthening resilience in these nations.
This year’s forum corresponds with Priority 5 of the Doha Programme of Action (DPoA), a decade-long initiative initiated in 2022 striving to renew commitments between LDCs and their development partners. Priority 5 emphasizes addressing environmental challenges, recovering from the COVID-19 pandemic, and preparing for future shocks to create risk-informed sustainable development.
Many LDCs face considerable challenges due to limited domestic resources, which obstruct their ability to handle economic downturns, natural disasters, and health emergencies, as noted by the UN Office of the High Representative for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States (UN-OHRLLS). Furthermore, accessing international capital markets is complicated by low credit ratings and the perception of risk associated with these economies.
A prominent feature of the forum is a High-level Dialogue centered on the urgent need for financing to boost the resilience of LDCs facing various challenges. Gender equality will play a crucial role in these discussions, as the involvement of women and girls is considered essential for devising comprehensive solutions.
Rabab Fatima, the High Representative for LDCs, expressed the significance of this gathering stating that it is taking place in an LDC for the first time, thereby offering a unique opportunity to mobilize global support for the world’s most vulnerable nations as they tackle the complexities of a constantly evolving global landscape.
The forum, organized by UN-OHRLLS in collaboration with the governments of Finland and Zambia, is set to address themes such as climate-smart agricultural practices, sustainable solutions in water and energy, circular economies, and social protection programs aimed at bolstering resilience against multiple shocks. Additionally, private sector representatives will participate in discussions to explore ways businesses can facilitate the transition towards a circular economy, thereby fostering resilience and sustainable development in LDCs.
This forum represents a critical step toward creating impactful solutions for LDCs, leveraging international cooperation and insights to bolster their resilience in challenging times. With a collaborative approach that emphasizes inclusivity and sustainability, there is hope for a more secure future for these nations, underscoring the importance of ongoing global commitment and action.
Leave a comment