Laos reaffirms commitment to graduation from LDC status

Laos is actively working to implement the Istanbul Programme of Action (IPOA), to ensure the country’s graduation from Least Developed Country status.
Deputy Minister of Foreign Affairs Mr Thongphanh Savanphet, representing the government, made the statement at the 2020 High-Level Meeting of Ministers of Foreign Affairs of Least Developed Countries held on September 17.

Delegations from 47 countries, development partner countries, the United Nations network and related international organisations attended the meeting.
The deputy minister highlighted the achievements and challenges in carrying out the programme, including the impact of Covid-19 on the economy, especially in the fields of tourism, trade and investment. This had resulted in a huge loss of revenue and affected people’s livelihoods. Laos called on development partner countries, the UN network, and international monetary institutions to continue to help least developed countries, especially in the form of Official Development Assistance (ODA).
A press release from the Ministry of Foreign Affairs quoted Mr Thongphanh as saying that ODA made a very important contribution to short-, mid-, long-term policies, which ensured that severely affected people, households, and businesses were able to receive the support they needed.
The Lao delegation also outlined the progress made towards graduation from Least Developed Country status. The United Nations will assess the progress in a second review planned for next year, when it is expected that Laos will be judged to have met two or all three of the criteria required by the UN for graduation.However, Laos will reconsider the process in light of the Covid-19 pandemic, in order to ensure that elevation to a higher development category is viable and sustainable.
The 2020 High-Level Meeting of Ministers of Foreign Affairs of Least Developed Countries adopted the annual ministers’ declaration, and reconfirmed the commitment of countries in implementing the UN programme on least developed countries, and the need for continued assistance from donor nations.

By Times Reporters
(Latest Update September 22, 2020)