The Zambian government on Wednesday called on development partners to continue complementary efforts of funding Least Developed Countries (LDCs) in their determination to come out of poverty.
Minister of National Development Planning Alexander Chiteme said LDCs were facing many challenges among them the declining levels of Overseas Development Assistance (ODA).
“In the case of Zambia, ODA as a percentage of gross national income declined from 73.3 percent in 2010 to 60.7 percent in 2018 when it should have been increasing,” he said when he addressed an annual ministerial meeting of LDCs at the United Nations (UN) headquarters, according to a release.
He said efforts to generate revenues have been hampered by illicit financial flows, a situation which was compromising the least developed countries to adequately finance their development needs.
The situation, he added, has been worse for commodity dependent countries like Zambia which have remained susceptible to shocks resulting from changes in commodity prices.
This has in turn compromised their national earnings to finance development, he added.
He, however, noted that least developed countries were keen to implement the Istanbul Program of Action for LDCs through incorporating into the national development plans.
According to him, the successful implementation of the Istanbul Program of Action requires political will by all partners and that Zambia remains resolute in pursuing the attainment of its goals and targets.
“Our political will is demonstrated in our national policy and planning frameworks. I call all partners to continually stand with least development countries and complement our efforts towards realization of this and subsequent programs of action,” he added.
The Istanbul Program of Action charts out the international community’s vision and strategy for the sustainable development of LDCs for the decade 2011-2020, with a strong focus on developing their productive capacities. Enditem