The Ministerial Meeting of Asia-Pacific LDCs on graduation and post 2015 was held in Kathmandu, Nepal on 16-18 December 2014. The meeting aimed at contributing to the graduation process in LDCs, exploring how this process can be backed up by strong national strategies, while mainstreaming graduation into development cooperation strategies and linking effectively with the IPoA midterm review and post-2015 development framework. The event was inaugurated by Honorable Prime Minister of Nepal Mr. Sushil Koirala.
Mr. Feisal Hussain, Regional Senior Technical Advisor along with Mr. Suresh Balakrishnan, Chief Technical Advisor Local Development and Mr. Ujjwal Raj Pokhrel, National Programme Coordinator, UNCDF Nepal represented UNCDF. Mr. Feisal Hussein presented “Shifting Paradigms for Sustaining Equitable Economic Growth in LDCs: The Role of Finance” on 17 December 2014 during the session on “Creating an Enabling Environment and the Role of Regional Integration for Reducing Economic Vulnerabilities”. Mr. Hussain in his presentation emphasized on the financial inclusion case, an experience of UNCDF from ASEAN Region. He presented the MAP research findings on Myanmar and the benefits of bringing informal financial transaction into formal financial sector. He further emphasized that regional integration as a solutions is not going to effectively happen unless maximization and utilization of domestic resources could be best utilized for local economic development and financial inclusion. This could ultimately assist LDCs in reducing economic vulnerabilities that in turn helps reduce poverty.
H. E. Mr. Jean Francis Regis ZINSOU, Benin Ambassador to the United Nations in his remarks underlined UNCDF work in the LDCs countries. He also highlited that regional integration could play a very important role for graduation and it can easily be achieved by promoting investment of local resources into local economies.