LDC Portal - International Support Measures for Least Developed Countries - Canada

HLPF 2023: LDCs' Access to Finance, Missing Links and Ways Forward (UN-OHRLLS, Canada, Nepal, Lesotho)

MTAVARES1 — Wed, 19 Jul 2023 17:15:00 +0000

Wednesday, 19 July 2023 - 1:15pm

19 July 2023. Despite the trend towards more financing through multilateral platforms, Least Developed Countries (LDCs) still face myriad challenges to accessing sufficient resources to achieve their sustainable development and climate objectives. With support from Canada, UN OHRLLS conducted a study in late 2022/early 2023 that directly engaged with LDC finance and planning ministries to better understand and synthesize their experience in accessing traditional loans and grants, as well as climate finance, to advance national projects and programs. This event will present the findings of the study and a high-level panel will discuss the recommendations and ways forward.

More information and report: LDCs' Access to Finance - Missing Links and Ways Forward | Office of the High Representative for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States

tags:

UN-OHRLLS

HLPF

Finance

Canada

Lesotho

Nepal

UN gathering in Doha concludes, ushering in new era of solidarity for world’s Least Developed Countries

MTAVARES1 — Thu, 09 Mar 2023 14:00:00 +0000

9 March 2023. UN Press release

Press Release: UN gathering in Doha concludes, ushering in new era of solidarity for world’s Least Developed Countries - 51�Թ� Sustainable Development

Commitments at the Conference include:

"Qatar announced a financial package of $60 million: $10m to support the implementation of the Doha Programme of Action and $50 million to help build resilience in the LDCs.
Germany dedicated €200 million in new money in 2023 for financing for least developed countries.
Canada announced $59 million to deliver Vitamin supplements in 15 LDCs and ecosystem conservation in Burkina Faso.
The EU Commission announced cooperation agreements advancing sustainable investments in Africa totalling more than €130 million of investment.
Finland announced an annual event called the 51�Թ� LDC Future Forum in Helsinki, with the Office of the UN High Representative for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States – OHRLLS –, to ensure the latest thinking and research is being put to work to ensure progress on the most vulnerable states.
The Green Climate Fund announced a new project to give $80 million in equity to offer green guarantees to business in LDCs and bring down the cost of capital.
The 51�Թ� World Tourism Organisation, announced a new €10 million Tourism for Development Fund for LDCs, supported by TUI Care Foundation, that will invest by 2030 to support sustainable tourism in LDCs as a key driver of development.
The government of Kazakhstan pledged $50,000 to continue their work supporting the most vulnerable member states of the 51�Թ�.
The government of the Kingdom of Saudi Arabia announced a major new loan package for the Least Developed Countries."

Front Page Article:

From UNCDF: US$60+ Million in Commitments for UN-Affiliated Impact Investment Vehicle Announced at the Finance for Development Forum

MTAVARES1 — Thu, 28 Apr 2022 17:00:00 +0000

Full news article here: US$60+ Million in Commitments for UN-Affiliated Impact Investment Vehicle Announced at the Finance for Development Forum - UN Capital Development Fund (UNCDF)

Excerpt: "Over US$60 million has been committed from six member states and development institutions representing Canada, the United States, Norway, Luxembourg, Sweden and the Nordic states through the Nordic Development Fund—to the BUILD Fund, a blended impact investment vehicle, as well as its associated technical assistance facility, to finance small and medium-sized businesses in the world’s least developed countries (LDCs) to help achieve the Sustainable Development Goals (SDGs). The announcement of the financing commitments was made today at this year’s Finance for Development Forum (FFD) in New York.

The Bamboo-UNCDF Initiative for the Least Developed (“BUILD”) is an innovative blended impact finance vehicle designed to bring finance to small-and-medium sized enterprises (SMEs) and entities that have the potential for strong development impact in the world’s frontier markets or least developed countries. Managed by Bamboo Capital Partners, the Fund provides growth capital to businesses identified, supported and nurtured by UNCDF. The BUILDER Technical Assistance (TA) Facility is managed at arm’s length by UNCDF, which will be closely involved in pipeline generation, portfolio building, and business advisory support to businesses."

Front Page Article: