21 July 2014: “Those that are in danger of slipping should be given foremost priority,” writes Gyan Chandra Acharya, UN High Representative for the Least Developed Countries (LDCs), Landlocked Developing Countries (LLDCs) and small island developing States (SIDS) in a post for the Organization for Economic Co-operation and Development (OECD) ‘In My View’ series. He argues that half of all official development assistance (ODA) should be allocated to the LDCs to address poverty eradication and sustainable development.

Acharya highlights the importance of scaling up and consolidating ODA to LDCs from a moral standpoint and the long-term wellbeing of the global community. He argues that “it is unacceptable that so many remain below the poverty line in the LDCs,” underscoring that the world has the means to help them, and can do so if it summons the necessary collective will. Noting that “the investment required for poverty eradication and sustainable development is at least 25-30% of GDP over a long period of time,” Acharya says this investment must be met through ODA. ODA constitutes over 50% of LDCs public finances and inflows, he explains, underscoring the critical role of ODA in leveraging impact on other sources of development finance.

Acharya also discusses: the classification of the 48 LDCs and their distribution across regions, with 34 in Africa, 13 in the Asia-Pacific, and 1 in Latin America and the Caribbean; challenges faced by LDCs, including degradation of natural capital, including through climate change; and LDC progress on the Millennium Development Goals (MDGs). He notes that a “holistic” focus on protecting LDCs’ natural capital, building their productive capacity and improving education and health would help them to leapfrog to green economies.

The OECD series addresses issues covered in the ‘Development Cooperation Report 2014: Mobilizing Resources for Sustainable Development.’ [In My View] [OECD Press Release on Development Cooperation Report 2014]