To leave no one behind, Least Developed Countries need new financing tools

14 Dec 2016 by Pedro Conceição, Director of Strategic Policy, UNDP Bureau for Policy and Programme Support and Philippe Orliange, Director of Strategy, Partnerships and Communication, AFD

To leave no one behind, the least developed countries need new financing toolsLike other Least Developed Countries, Zambia has pursued major structural reforms to attract the investment needed to finance sustainable development. UNDP photo
At the UN General Assembly last September, 193 countries adopted the Sustainable Development Goals (SDGs), an ambitious new agenda for sustainable development to be achieved over the next fifteen years. The central aim of the so-called “2030 Agenda” is to “leave no one behind”. And while it will be a challenge for all countries to meet the targets of the 2030 Agenda, it is clear that it will be especially difficult for the 48 Least Developed Countries (LDCs) most of which are in Sub-Saharan Africa. These are countries where levels of deprivation are acute, infrastructure is inadequate, economies are vulnerable and capital is in short supply. To enable the transformation of these countries to middle-income status, considerable investments will be required within a short time-frame. Many LDCs have made considerable social and economic progress over recent years: poverty has declined, more children are now in school, health indicators have improved and many have enjoyed sustained periods of unprecedented economic growth. At the same time, considerable challenges remain. For example, LDCs remain very vulnerable to shocks and stresses, such as extreme weather events, fluctuations in commodity prices, and disease outbreaks – as the recent Ebola crisis in West Africa demonstrated. Shocks can cause significant development setbacks. … Read more

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