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Bangladesh’s Adviser on Finance and Planning, Dr. Rashed Al Mahmud Titumir, has urged the international community to provide greater concessional financing, reform the global financial architecture, expand climate finance, improve market access and strengthen technology support to accelerate sustainable development in the world’s Least Developed Countries (LDCs).
Speaking on behalf of the LDC group at the UN High-Level Political Forum on Sustainable Development (HLPF) on Monday, Titumir said mounting debt risks, the growing impacts of climate change, declining Official Development Assistance (ODA), widening digital inequality and limited access to affordable financing are undermining progress toward achieving the 2030 Agenda and the Doha Programme of Action.
He called for coordinated global efforts to ensure fair and adequate development financing, establish effective debt resolution mechanisms, improve access to climate finance, promote a more development-friendly global trading system and enhance technology transfer and digital transformation support for LDCs.
Titumir noted that with fewer than five years remaining to meet the Sustainable Development Goals (SDGs), many LDCs continue to face deep structural challenges that threaten their development progress.
He stressed that now is the time for the international community to take coordinated and decisive action to help LDCs achieve the SDGs and implement the Doha Programme of Action.
Reaffirming the commitment of LDCs to both global development agendas, Titumir said achieving these goals will require a more equitable, inclusive and effective international financial system that reflects the realities and vulnerabilities of the world’s poorest nations.