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Adviser to the Prime Minister on the Ministries of Finance and Planning Dr Rashed Al Mahmud Titumir has stressed that graduation and sustainable graduation are different, saying least developed country (LDC) graduation should strengthen, rather than constrain, a country’s development trajectory.
He made the remarks at the LDC-GIF Mechanism Introduction and High-Level Dialogue held at the United Nations Headquarters in New York on Monday.
Dr Titumir said graduating countries continued to face structural impediments and limited productive capacity, compounded by geopolitical conflicts, supply-chain disruptions, trade uncertainty, inflation and domestic shocks, according to a press release.
He said graduation should therefore be backed by adequate measures to ensure a smooth, sustainable and irreversible transition through industrialisation, integrated development approaches, energy transition and job creation.
The adviser also called for stronger financial, technological and capacity-building support for LDCs, noting that actual technology transfer remained modest compared with their needs.
He expressed hope that the LDC Green Industrialization Facilitation (LDC-GIF) mechanism would help accelerate technology transfer, deployment and industrial application while strengthening productive capacity, structural transformation and sustainable graduation.
