President Dr Julius Maada Bio Calls For Increased Access to Long-Term Financing and Investments for LDCs

4th March 2023
Qatar National Convention Centre

His Excellency Dr Julius Maada Bio, President of the Republic of Sierra Leone, has called for LDCs’ increased access to affordable long-term financing and investments and alternatives for debt relief and borrowing terms during the Pre-Summit Luncheon of the 5th United Nations Conference on Least Developed Countries (LDCs) organised in Doha, the State of Qatar.

Themed “From Potential to Prosperity”, the five-day event assembles the private sector, civil society, parliamentarians, and young people to advance new ideas, raise new pledges of support, and spur delivery on agreed commitments through the Doha Programme of Action to address the numerous global challenges, including the climate crisis and environmental degradation.

Congratulating the remarkable leadership of His Excellency Lazarus Chakwera, President of the Republic of Malawi, during a tough period for the world, especially for Least Developed Countries (LDCs) and extending appreciation to His Highness Tamim Bin Hamad Al Thani, Emir of the State of Qatar, for being a strategic development partner and for preparing and hosting the conference, President Julius Maada Bio noted that Least Developed Countries recognise the broad support and positive reflections on the proposals put forward in the course of the negotiations and, therefore, continue to emphasize the need for continued solidarity and cooperation, among members and development partners in ensuring the implementation of the Doha Programme of Action (DPOA).

“This event will structure the framework required for the actualisation of the Development Sustainable Goals (SDGs). As we engage in the days ahead, we must intensify the call on our development partners to bridge the financing divide, increase access to affordable long-term financing and investments, and proffer alternatives for debt relief and borrowing terms. All this can be done with a view to enhancing recovery and achieving sustainable development,” President Bio emphasised.

He added: “It also behoves us all to call on the international community, financiers and investors, to work with the LDCs, especially African countries that have structurally weak economies, in order to raise sustainable finance, develop bankable projects, and increase capacity-building for SDG-relevant investment promotion and facilitation.”

President Julius Maada Bio also pointed out the numerous global vulnerabilities, including growing inequality and poverty, hunger, armed conflicts and terrorism, climate change, and pandemics, adding that these vulnerabilities continue to impede the capacities and thus the progress of LDCs towards Sustainable Development Goals (SDGs) and that the Summit would provide solutions to tackle these vulnerabilities, thereby bringing transformative changes in the lives of millions of people in the LDCs.

In the coming days, His Excellency President Julius Maada Bio will engage in High-Level Round Table discussions to chart the way forward for the transformation of Least Developed Countries.

Cyril Barnes,
Information Attaché,
Sierra Leone Embassy, the State of Kuwait
Email: information.attache@kw.slembassy.gov.sl