Secretary-General of the United Nations (UN) Antonio Guterres speaks during the 5th Conference on the Least Developed Countries (LDC5). (Photo by Karim Jaafar / AFP)
Doha: Secretary-General of the United Nations, H E Antonio Guterres has emphasised the urgent need to implement the Doha Programme of Action (2022-2031), which is a “practical guide” to address challenges faced by least developed countries.
Addressing the 5th UN Conference on Least Developed Countries (LDC5) in Doha yesterday, Guterres said as the global tensions and divides are deepening, the Least Developed Countries are being stranded amidst a rising tide of crisis, uncertainty, climate chaos and deep global injustice.
“We must find ways to come together,” he said, addressing a number of heads of states and governments, ministers and diplomats, senior officials, businessmen, and decision-makers during the opening plenary session of the conference.
“The Doha Programme of Action is a practical guide to address all these issues (faced by least developed countries). It contains concrete targets and deliverables such as a ‘Sustainable Graduation Support Facility,’ an ‘Investment Support Centre’, and an ‘Online University’, which can play a game-changing role in implementing the Sustainable Development Goals in Least Developed Countries,” said Guterres. “I call upon development partners to support the implementation of these deliverables and the achievement of the Doha Programme of Action targets.
The Doha Programme of Action (DPoA) for the Least Developed Countries for the Decade 2022-2031 manifests a new generation of renewed and strengthened commitments between the least developed countries and their development partners, including the private sector, civil society, and governments at all levels.
Guterres also brought into attention how least developed countries are unable to keep pace with lightning-speed technological change — systems are stretched or non-existent — from health and education, to social protection, infrastructure and job creation.
“Unemployment is rising — especially among young people. Women are being pushed to the sidelines. And a deeply biased global financial system is handing least developed countries the rawest of deals. Least developed countries face interest rates that are up to 8 times higher than developed countries,” he said.
Besides implementing the Doha Programme of Action, Guterres stressed the need for immediate assistance to rescue the Sustainable Development Goals in least developed countries and said, “For least developed countries, these goals represent survival itself — from poverty-eradication, to food, health, clean water and sanitation.”
He also highlighted the need to reform the global financial system through a new Bretton Woods moment.
“International financial institutions must develop creative ways to extend financing where the needs are greatest,” Guterres said.
Guterres suggested that multilateral development banks should transform their business model to massively leverage their funds to attract greater flows of private finance at reasonable cost in to developing countries, in particular the least-developed countries.
“We must find new, common-sense ways to measure countries’ economies — such as developing lending criteria that go beyond gross domestic product to provide a true view of the value of natural capital such as the preservation of forests, watersheds and marine resources,” he said.
