Kathmandu: Prime Minister Pushpa Kamal Dahal 'Prachanda' has emphasized the need for a comprehensive rescue plan to address the challenges faced by the Sustainable Development Goals (SDGs).

Speaking as the Chair of the Group of the Least Developed Countries (LDCs) at the 2023 SDG Summit at the UN Headquarters in New York, PM Prachanda stressed the importance of increasing investment in people, supporting structural transformation, and ensuring rapid and sustainable recovery from the COVID-19 pandemic to achieve the SDGs.

The PM highlighted that Nepal has integrated the SDGs into its national policies and plans and is committed to eradicating poverty and reducing inequality in line with the 2030 Agenda, with a focus on leaving no one behind. He also reiterated Nepal's commitment to achieving smooth, sustainable, and irreversible graduation from the LDC category by 2026.

However, PM Prachanda expressed concern over the slow progress in achieving the SDGs, stating that halfway to the 2030 deadline, "we are seriously off-track." He cited the UN Secretary-General's SDG Report, which highlights that more than half of the world's population, mostly from LDCs, has been left behind.

The PM identified global crises such as the COVID-19 pandemic, climate change, and geopolitical tensions as factors that are jeopardizing the progress made toward achieving the SDGs. He noted that foreign direct investment flows to LDCs declined by about 30% in 2022 compared to 2021, impacting investments in critical sectors like infrastructure, renewable energy, water and sanitation, food security, health, and education.

Additionally, PM Prachanda raised concerns about the rising external debt of LDCs, which increased from 41% to 54% over the past decade. He called upon the international community to address the debt distress of LDCs by 2025 and provide coordinated and timely debt solutions.

The PM emphasized that finance is essential for driving progress toward the SDGs and urged developed countries to fulfill their commitments by providing 0.7% of gross national products as official development assistance to developing countries and 0.15% to 0.20% to the LDCs.

In conclusion, PM Prachanda conveyed Nepal's unwavering commitment to SDGs and called for concerted efforts to overcome the challenges and accelerate progress toward achieving these global goals.