LDC Graduation Must Be Smooth, Sustainable and Stable: Dr Titumir
Adviser to the Prime Minister on Finance and Planning Dr Rashed Al Mahmud Titumir has said that graduation from the Least Developed Country (LDC) category and sustainable graduation are not the same thing. He said LDC graduation must be smooth, sustainable and stable. Graduation should not disrupt a country’s development journey; rather, it should make that journey stronger.
Dr Titumir made the remarks while participating in the “LDC-GIF Mechanism Introduction and High-Level Dialogue” at the United Nations Headquarters in New York on Monday, September 21. The event was held on the sidelines of the 81st session of the UN General Assembly.
Dr Titumir said countries on the path to graduation still face structural barriers and limited productive capacity. Geopolitical conflicts, supply-chain disruptions, trade uncertainty, inflation and various domestic shocks are making the situation more difficult.
He further said adequate support is needed to ensure a smooth, sustainable and irreversible transition through industrialisation, integrated initiatives, energy transition and job creation.
Calling for stronger financial, technological and capacity-building support for LDCs, the Finance and Planning Adviser said technology transfer to these countries remains inadequate compared with their needs.
Dr Titumir expressed hope that the Least Developed Countries Green Industrialization Facilitation (LDC-GIF) initiative would play an important role in accelerating technology transfer and its application in industries. He said the initiative could also help strengthen productive capacity, structural transformation and sustainable graduation.
