Sunday March 5, 2023
Mogadishu (HOL) - Leaders from the world's Least Developed Countries (LDCs), including President Hassan Sheikh Mohamud of Somalia, have gathered in Doha, Qatar, for the 10th Summit of the LDCs. The conference, which is organized by the United Nations, aims to create a roadmap to help these countries achieve sustainable development goals.
The UN considers LDCs to be the most vulnerable and poorest countries globally, facing significant challenges such as poverty, inadequate infrastructure, and limited access to education and healthcare services. The summit aims to address these challenges and accelerate progress toward sustainable development.
Although the LDC summit usually takes place every ten years, it has been delayed twice since 2021 due to the coronavirus pandemic. The Secretary-General of the United Nations, António Guterres, delivered the conference's opening speech, emphasizing the importance of supporting the LDCs and ensuring no one is left behind. He urged wealthy nations to provide $500 billion annually to help countries "trapped in vicious cycles" that block efforts to boost their economies and provide vital services.
Guterres noted that "economic development is challenging when countries are starved for resources, drowning in debt, and still struggling with the historical injustice of an unequal COVID-19 response" and that "combating climate catastrophe that you did nothing to cause is challenging when the cost of capital is sky-high." He also highlighted that no leaders from the world's major economies attended the conference.
During the summit, leaders from the LDCs will discuss poverty reduction, gender equality, climate change, and access to education and healthcare services. They will also discuss mobilizing financial resources to support sustainable development goals. The UN hopes the conference will be a turning point for LDCs and help them overcome their challenges.
The conference will conclude on March 8th, and the outcomes will be shared with the international community. The UN hopes the summit will renew the international community's commitment to supporting LDCs and ensuring they are not left behind.
Under proposals, a food stockholding system called the Doha Programme of Action will be set up to help countries facing hunger crises due to drought and high prices. It also calls for new efforts to help LDCs attract foreign funding and lower interest rates to ease the impact of their debts.
Bhutan, Bangladesh, Laos, Nepal, Angola, Sao Tome and Principe, and the Solomon Islands will become one of seven countries to graduate from LDC status by 2026. However, they will gradually lose trade and aid privileges, and Guterres warned they would need help after moving up the wealth scale.