Poverty is common problem of LDCs: PM Oli

New York (USA)- Prime Minister KP Sharma Oli addressed the ‘Summit of the Future’ session of the 79th United Nations General Assembly on Sunday.

PM Oli is currently in New York, leading the Nepali delegation to the 79th UN General Assembly. PM Oli addressed the Session at the UN headquarters here.

On the occasion, PM Oli underscored on industrialization and increasing the production for combating poverty which remains as the common challenge of the Group of the Least Developed Countries (LDCs).

PM Oli stated that the LDCs have been adversely affected by emission of greenhouse gases by developed countries and urged the latter to invest more in climate financing.
Noting that hundreds of thousands of children are deprived of their rights to food and education due to poverty, he stressed on concerted efforts for poverty alleviation.

Foreign Affairs Minister Dr Arzu Rana Deuba, PM’s Principal Advisor, Bishnu Prasad Rimal, Foreign Secretary Sewa Lamsal, and Nepal’s Permanent Representative to the UN, Lok Bahadur Thapa, among others, attended the Session.

The following is the full text of the Prime Minister’s statement at the Session:
Statement on behalf of the LDCs by Rt. Hon. Mr. KP Sharma Oli, Prime Minister & Leader of Nepali Delegation at Plenary of the Summit of the Future
New York, 22 September 2024
Mr. President,
Mr. Secretary-General,
Excellencies,
Distinguished Delegates.
Namaste!
I am deeply honoured 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 group of LDCs have contributed in the best possible manner to make this Summit of the Future a success. However, our minds are musing, and hearts are hurting from the fact that millions of children in LDCs go hungry every day.

When millions of our children go hungry today, where is our future? What do we mean by future? When millions of our youth languished with malnourishment and illiteracy, where can we seek our future?

Nothing could be more unjust and unethical than to be ignorant to the fact that millions of people in LDCs living in extreme poverty while a small minority in some corners of the world accumulates billions in wealth each day.
Is this the future we aspire to? Absolutely not.

International community must act now to ensure every child and young person has the chance to thrive.
Mr. President,
LDCs face severe economic challenges, with unmet ODA and climate financing commitments, insufficient and delayed international support, and spiraling debt distress.
Most critically, global financial and trading regimes remain fundamentally unfavourable to LDCs.
Furthermore, the growing digital divide between rich and poor countries threatens to leave LDCs even further behind.

Despite contributing a mere 3.3 percent of global greenhouse gas emissions, LDCs are among the most vulnerable to the devastating impacts of climate change.
The people of LDCs, are frustrated by the continuation of these severe structural impediments, and climate injustice which hinder their path to prosperity.

Mr. President,
We must act now to pull the world back from the brink of catastrophe.
For this, we need coordinated, comprehensive, and science-based policies with LDCs at the center.

Investing in productive capacities, sustainable industrialization, infrastructure, and economic diversification is crucial.
Equally important is transforming global governance and strengthening institutions to make them 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.
•And as a renewed commitment to multilateralism, putting the UN at its core.
We equally welcome the adoption of ‘Declaration on the Future Generation, and ‘Global Digital Compact’ and emphasise the need for its effective implementation for the wellbeing of people and planet.
Mr. President,
The Pact encapsulates the hopes and optimism of both people and the planet by reinstalling the interlinkages among 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 to 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.