Conference on crisis-resilient development finance

The world is facing multiple crises: climate change, increasing human conflicts, geo-economic fragmentation, rising living costs, social and political crises - all factors that weigh heavily on LDCs as they try to revive their economies in the wake of the COVID-19 pandemic.

The least developed countries (LDCs) do not always have the budgetary capacity to ensure the continuity of their economic activity and to cope with the growing costs of climate change.

The multiple global crises have created a situation where the path to achieving the Sustainable Development Goals (SDGs) is blocked by interrelated challenges that urgently require durable solutions.

To get back on track towards achieving the SDGs, LDCs need an international financial architecture that is inclusive, innovative and tailored to their specific needs and challenges. The existing international financial architecture does not offer appropriate, tailored or targeted financial mechanisms for these countries.

UNCTAD's Least Developed Countries Report 2023 highlights three key dimensions of development finance in LDCs: quantity, quality and access.

In other words, financing must be available on the scale required, provided through appropriate instruments and supported by an international financial architecture tailored to the specific needs of these countries.

UNCTAD is joining forces with the Organisation internationale de la Francophonie to organise a conference to explore ways of urgently addressing the critical financial challenges facing Africa's least developed countries and to propose solutions.