Muhith lists challenges for LDCs’ graduation

FE Report | Published: October 29, 2014 00:00:00 | Updated: November 30, 2026 06:01:00

Finance Minister AMA Muhith pointed out Tuesday five challenges facing the least developed countries (LDCs) to increase ODA (Official Development Assistance) that can help them graduate from the LDC status.
The five challenges are resource development, domestic resource mobilisation, reduction of poverty, technology and human resource development.
"Technology means not only industrial technology. Even application of ICT (Information and Communication Technology) will increase efficiency of public offices," he said while speaking as chief guest at the inaugural session of a three-day regional meeting.
Economic Relations Division (ERD), United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) and the United Nations Department of Economic and Social Affairs (UN DESA) are jointly holding the meeting on Financing Graduation Gaps of Asia-Pacific LDCs at a city hotel.
About 55 policymakers and senior officials from 12 Asia-Pacific LDCs like Afghanistan, Bangladesh, Bhutan, Cambodia, Myanmar, Nepal, Solomon Islands, Timore-Leste (East Timor), Tuvalu and Vanuatu are participating in the regional meeting.
The Finance Minister said there are 48 LDCs in the world and 15 per cent LDCs must graduate by 2020. "There is also a strategy and we're following it to come out of the LDC status," he said.
Expressing his dissatisfaction over the role of development partners, the minister said they always suggest future plans of action to overcome various problems.
He said the development partners totally failed to do what they committed, although Bangladesh is doing well among the LDCs in various arenas.
"It's very sad…they need to understand it…they need us….they will be in danger without us," he added.
Emphasising technological development and investment, State Minister for Foreign Affairs Md. Shahriar Alam said the global bodies concerned should work hard and should take effective measures to help the LDCs graduate to middle income nations.
"The LDCs also need to be included with the global value chain regarding the issue," he said.
Among others, State Minister for Finance and Planning and ERD Secretary Mohammad Mejbahuddin also spoke at the inaugural ceremony.
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