Titumir seeks stronger global support to achieve SDGs

Dr. Rashed Al Mahmud Titumir, prime minister's adviser on the ministries of Finance and Planning, today called for stronger international solidarity, increased concessional financing and reforms to the global financial architecture to help the Least Developed Countries (LDCs) achieve the Sustainable Development Goals (SDGs) and ensure smooth graduation from the LDC category.

Speaking on behalf of the Group of LDCs at the General Debate of the High-Level Segment of the UN Economic and Social Council (ECOSOC) at the United Nations Headquarters in New York, Titumir reaffirmed the group's unwavering commitment to the 2030 Agenda for Sustainable Development and the Doha Programme of Action (DPoA).

He said that progress towards the SDGs remains seriously off track, with LDCs facing heightened challenges from climate change, rising debt burdens, shrinking fiscal space, declining Official Development Assistance (ODA), widening digital divides and limited access to affordable finance.

According to the adviser, these challenges are undermining implementation of the 2030 Agenda and jeopardising the DPoA's objective of enabling more LDCs to achieve sustainable and irreversible graduation by 2031.

Titumir said 14 LDCs are currently at different stages of the graduation process and continue to require sustained international support. 

Referring to Bangladesh and Nepal, he noted that both countries have sought a three-year extension of their preparatory period until November 2029 due to unprecedented political, macroeconomic, environmental and external shocks.

He described the additional time as a strategic necessity for graduating countries to strengthen macroeconomic stability, implement Smooth Transition Strategies and undertake critical reforms.

The adviser said the DPoA Mid-Term Review, scheduled to be held in Doha next year, offers a crucial opportunity to strengthen global partnerships and accelerate implementation of international commitments.

He urged participation at the highest political level, including Heads of State and Government, ministers, leaders of international financial institutions and development partners, to ensure the review produces meaningful and implementable outcomes.

Presenting the LDC Group's five priority areas, Titumir called for a significant increase in adequate, predictable and affordable concessional financing to address debt vulnerabilities and support investment in education, healthcare, productive capacity, resilient infrastructure, employment generation, poverty reduction and social protection.

He also stressed the need to reform the international financial architecture by expanding access to concessional resources, debt relief measures and equitable financing arrangements that reflect the structural vulnerabilities of LDCs.

Highlighting climate challenges, Titumir called for accessible and predictable climate finance, greater support for adaptation, resilience building, energy transition and the Loss and Damage Fund, alongside enhanced international cooperation to strengthen energy security.

He further urged the international community to preserve and expand market access for LDC exports by reversing protectionist trends and ensuring simplified, transparent and development-friendly rules of origin.

The adviser also emphasised stronger global cooperation to bridge digital and technological divides through technology transfer, capacity building and digital transformation initiatives.

Concluding his statement, Titumir said the challenges confronting LDCs are a test of international solidarity and the credibility of multilateralism.

He reaffirmed the LDC Group's commitment to working with all partners to make the Doha Mid-Term Review a turning point in restoring momentum, rebuilding trust and delivering on the promise of sustainable development while leaving no one behind, reports BSS.