Poverty among LDCs can be eradicated via industrialization, PM Oli says

NEW YORK (USA), SEPTEMBER 23: Prime Minister KP Sharma Oli addressed the 'Summit of the Future' session of the 79th United Nations General Assembly on Sunday.

Prime Minister Oli, currently in New York leading the Nepali delegation to the UN, delivered his remarks at the UN headquarters. In his speech, PM Oli emphasized the importance of industrialization and increased production to combat poverty, a shared challenge among the Least Developed Countries (LDCs).

He highlighted that the LDCs are disproportionately affected by the greenhouse gas emissions of developed nations and called for greater investment in climate financing by these countries. PM Oli also stressed the need for collective efforts to alleviate poverty, noting that hundreds of thousands of children are deprived of basic rights such as access to food and education.

Accompanying PM Oli at the session were Foreign Affairs Minister Dr. Arzu Rana Deuba, the Prime Minister’s Principal Advisor Bishnu Prasad Rimal, Foreign Secretary Sewa Lamsal, and Nepal's Permanent Representative to the UN, Lok Bahadur Thapa, among others.

 

Below is the full text of Prime Minister Oli’s statement at the session:

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Statement on behalf of the LDCs by Rt. Hon. Mr. KP Sharma Oli, Prime Minister & Leader of Nepali Delegation at the Plenary of the Summit of the Future
New York, 22 September 2024

Mr. President,
Mr. Secretary-General,
Excellencies,
Distinguished Delegates,
Namaste!

I am deeply honored to deliver this statement as Chair of the Group of the Least Developed Countries (LDCs). At the outset, I extend my heartfelt appreciation to the Secretary-General for convening this historic and significant summit.

Mr. President,

The LDC group has done its utmost to contribute to the success of this Summit of the Future. Yet, we are deeply troubled by the fact that millions of children in LDCs go hungry every day. When these children suffer from hunger, what future are we truly building? How can we talk about a future when so many of our youth are afflicted by malnourishment and lack of education?

Nothing is more unjust and unethical than turning a blind eye to the reality of extreme poverty in LDCs, while a small minority in other parts of the world amasses billions in wealth each day. Is this the future we aspire to? Absolutely not.

The international community must act now to ensure that every child and young person has the opportunity to thrive.

Mr. President,

LDCs face severe economic challenges, exacerbated by unmet commitments to Official Development Assistance (ODA), inadequate climate financing, and escalating debt distress. Moreover, global financial and trade systems remain fundamentally biased against LDCs, while the growing digital divide threatens to widen the gap between rich and poor nations even further.

Despite contributing only 3.3% of global greenhouse gas emissions, LDCs are among the most vulnerable to the devastating impacts of climate change. The people of the LDCs are frustrated by the persistence of these structural barriers and the climate injustice that hampers their pursuit of prosperity.

Mr. President,

We must act now to pull the world back from the brink of catastrophe. To do so, we need coordinated, comprehensive, and science-based policies that place LDCs at the center. Investment in productive capacities, sustainable industrialization, infrastructure, and economic diversification is essential. Equally important is the need for global governance reforms to ensure institutions are fit for purpose.

Mr. President,

In this context, we wholeheartedly welcome the Pact for the Future:

• As a manifesto for future generations.
• As a blueprint for a peaceful, prosperous, and sustainable future.
• As a renewed commitment to multilateralism, with the UN at its core.

We also welcome the adoption of the Declaration on the Future Generation and the Global Digital Compact and emphasize the need for their effective implementation to ensure the well-being of both people and the planet.

Mr. President,

The Pact encapsulates the aspirations of people and the planet by reaffirming the interlinkages between peace and security, sustainable development, and human rights.

Let us eradicate poverty and hunger by investing in rural development, education, and health, and by building sustainable social protection systems that can prevent setbacks and respond to shocks. Let us create a peaceful environment conducive to equitable, sustainable, and prosperous development for all.

We, the people of LDCs, are committed to implementing the outcomes of this Summit and call for meaningful partnerships to guide us toward prosperity.

Thank You

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Thank you.