BD envoy to UN seeks additional finance for LDCs

Permanent Representative of Bangladesh to the United Nations Ambassador Rabab Fatima said the graduating and the graduated countries from the LDC categories need extended international support to ensure their forward journey and prevent any possible slide back, reports UNB.

She called for ensuring additional finance for the LDCs and their access to low-cost and low-risk sources of funding.

Ambassador Fatima was addressing the high-level presentation of the OECD publication, "Multilateral Development Finance 2020 (MDF)" held in New York on Friday.

Highlighting some silver linings behind the current pandemic she stressed the need for reform for removing the persistent weakness of the global development finance system, said a media release on Saturday.

For smooth functioning of the global development finance system she emphasised flexible and equitable governance for them.

She further noted the importance of maintaining a balance between development and humanitarian financing of the UN agencies.

Focusing on the importance of involvement of national governments in SDG implementation, she urged the OECD countries to leverage innovative financing, STI and emerging technologies for meeting the ensuing resource gaps.

She underscored the importance of collective efforts for eradication of the climate vulnerabilities of the LDCs and other vulnerable countries.